Slides
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JK Cement Works, Panna Line 2 Investor Presentation Q2 FY27 Cementing the nation. Building a sustainable future.
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Agenda 50+ years in grey cement 40+ years in white cement Company overview 01 Business highlights 02 Financial performance 03 CSR and awards 05 ESG updates 04 Financial Highlights –Q2FY27
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Investor Presentation Q2 FY27 01 Company overview JK Cement Works, Nimbahera Among India's top five cement manufacturers Progressing steadily towards 50 MTPA by FY30 Securing strategic raw material resources Projects in progress
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Company overview Among India's top five cement manufacturers 4 32.3 MTPA Grey cement capacity (including 0.42 MTPA in subsidiary) 3.65 MTPA White cement and wall putty capacity (including 0.60 MTPA in subsidiary) ~91,000 Dealers and retailers 342.3 MW Green power capacity 223.0 MW Captive solar and wind capacity 119.3 MWh Waste heat recovery system Grey cement White cement Wall putty Tile adhesives and grouts Gypsum plaster Construction chemicals Paints P O R T F O L I O S C A L E
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*As of 31st March Company overview Grey cement capacity 5 Progressing steadily towards 50 MTPA by FY30 14.7 MTPA 2021* 50 MTPA FY30 24.3 MTPA 2025* 32.3 MTPA 2026* 40 MTPA FY28 11 MTPA − Brownfield expansion at Muddapur and Panna (next leg of expansion) 7 MTPA − Greenfield expansion at Jaisalmer − Split grinding unit at Bikaner and Bhatinda − To be commissioned by H1FY28
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6 Projects in progress: 7 MTPA grey cement expansion in North India Company overview Jaisalmer Rajasthan 4 MTPA clinker and 3 MTPA cement capacity Raw Mill Hopper Preheater Cement Mill VRM ₹3,630 crore Project cost ₹1831 crore Expenditure (YTD Sep-26) H1 FY28 Scheduled commissioning − Ordering & Engineering completed − Civil construction , mechanical and erection work is progressing as per schedule
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7 Projects in progress: 7 MTPA grey cement expansion in North India Company overview Bikaner Rajasthan 2 MTPA split grinding unit Cement Mill & Building Clinker Silo ₹565 crore Project cost ₹315 crore Expenditure (YTD Sep-26) H1 FY28 Scheduled commissioning − Ordering & Engineering work completed − Civil construction , mechanical & erection work is going on as per schedule
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8 Projects in progress: 7 MTPA grey cement expansion in North India Company overview Bhatinda Punjab 2 MTPA split grinding unit ₹610 crore Project cost ₹108 crore Expenditure (YTD Sep 26) H1 FY28 Scheduled commissioning − 100% land has been acquired and approvals – EC/CTE expected shortly − Major plant and equipment ordering completed Planned -Bhatinda GU
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9 Project completed during the quarter: Wall putty capacity expansion in North India Company overview Nathdwara Rajasthan 6 lakh MT wall putty plant ₹195 crore Project cost ₹160 crore Expenditure (YTD Sep-26) Commissioned on 12th Aug’26 & regular dispatches going on Plant Overview First Dispatch
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Investor Presentation Q2 FY27 02 Business highlights Q2 FY27 snapshot Robust growth across parameters Benchmark operational performance Strong sales volume Consistent growth
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11 Robust volume growth and higher profitability despite cost pressures Business highlights Q2 FY27 (Standalone) 5.37 MT Grey cement volume 21% 0.49 MT White cement volume 13% ₹500 crore EBITDA 14% ₹ 852 EBITDA per tonne 6% JK Cement Works, Mangrol ₹3,595 crore Revenue from Operations 26% YoY change RMC & CC Revenue is above Rs 50 Crores in Grey Business
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12 Benchmark operational performance Business highlights Q2 FY27 (Grey Standalone) JK Cement Works, Nimbahera 67% 95% Cement Clinker Capacity utilisation 6% 94% Rail Road Dispatch mix ₹4,963 / tonne Net sales realisation vs. ₹4,958/ tonne in Q1FY27 71% Trade mix vs. 69% in Q1FY27 68% Blended cement Vs 67% in Q1FY27 20% Premium products of trade sales Vs 18% in Q1FY27
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Business highlights 13 Strong sales volume-Quarterly Standalone Subsidiary Grey business (lakh tonne) 44.3 59.6 53.7 0.2 0.4 0.5 Q2 FY26 Q1 FY27 Q2 FY27 10% QoQ 22% YoY YOY - Double Digit volume growth in Grey Cement due to capacity expansion , however QOQ volumes are lower due to seasonal impact White business (lakh tonne) 4.4 5.3 5.0 1.2 0.7 0.6 Q2 FY26 Q1 FY27 Q2 FY27 7% QoQ Flat YoY Combined (lakh tonne) 9% QoQ 19% YoY 44.6 60.0 54.2 5.6 6.0 5.6 Q2 FY26 Q1 FY27 Q2 FY27 Grey White
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Business highlights 14 Strong sales volume- Half Yearly Standalone Subsidiary Grey business (lakh tonne) 94.9 113.3 0.3 1.0 H1 FY26 H1 FY27 20% YoY Grey Cement - Double Digit growth .White Cement – Iran war has adversely impacted volumes of UAE operations, however volume of India operations have improved due to impact on imports White business (lakh tonne) 8.6 10.3 2.5 1.3 H1 FY26 H1 FY27 5% YoY Combined (lakh tonne) 18% YoY 95.2 114.2 11.1 11.7 H1 FY26 H1 FY27 Grey White
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Business highlights 15 Consistent growth (standalone) Particulars Q2 FY27 Q1 FY27 QoQ (%) Q2 FY26 YoY (%) H1 FY27 H1 FY26 YoY (%) Grey business 2665 2955 10% 2,141 24% 5620 4,634 21% White business 653 652 - 524 25% 1305 1,018 28% Total net sales 3318 3607 8% 2,665 25% 6925 5652 23% Combined EBITDA 500 639 22% 440 14% 1138 1113 2% (₹ crore) Lower volumes and inability to pass on cost increase due to seasonal impact resulted in lower profitability
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Business highlights 16 Consistent growth (consolidated) Particulars Q2 FY27 Q1 FY27 QoQ (%) Q2 FY26 YoY (%) H1 FY27 H1 FY26 YoY (%) Grey business 2693 2979 10% 2,153 25% 5672 4649 22% White business 868* 917 5% 779 11% 1785 1518 18% Total net sales 3561 3896 9% 2,932 21% 7457 6167 21% Combined EBITDA 507 648 22% 447 14% 1155 1134 2% (₹ crore) Note : * Includes Paints Revenue of Rs 116 Crores
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Investor Presentation Q2 FY27 03 Financial performance Key cost variables Razor sharp focus on cost Financial statements Steady debt profile
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Financial performance 18 Key cost variables Pet coke cost (6.5% Sulphur USA CFR) ($/MT) Imported pet coke price started moving up from June 26 due to geopolitical situation 110 112 117 118 117 118 118 124 156 162 137 135 137 145 164 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26 Aug-26 Sep-26
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Financial performance Grey standalone 19 Key cost variables Increased due to rising fuel cost Fuel cost (₹/kcal) 1.56 1.53 1.71 Q2 FY26 Q1 FY27 Q2 FY27 12% QoQ 10% YoY Impact of higher fuel cost is partly offset by mix change Fuel cost (₹/MT) 10% QoQ 8% YoY 791 778 857 Q2 FY26 Q1 FY27 Q2 FY27
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Financial performance Grey standalone 20 Razor sharp focus on cost YOY - Lead distance is lower on account of commissioning of Bihar GU Lead distance (kms) Flat QoQ 3% YoY QOQ -Lower due to freight optimization initiatives & lean season discount Logistics cost (₹/MT) 1,234 1,315 1,290 Q2 FY26 Q1 FY27 Q2 FY27 2% QoQ 5% YoY 431.00 418.00 416.00 Q2 FY26 Q1 FY27 Q2 FY27
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Financial performance Standalone 21 Razor sharp focus on cost QOQ -Higher mainly due to operating deleverage Employee cost (₹/MT) 14% QoQ 2% YoY QOQ- Higher mainly due to operating deleverage Other expenses (₹/MT) 1,112 1,026 1,155 Q2 FY26 Q1 FY27 Q2 FY27 13% QoQ 4% YoY 459 396 452 Q2 FY26 Q1 FY27 Q2 FY27
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Financial performance 22 Financial statement (standalone) Particulars Q2 FY27 Q1 FY27 QoQ (%) Q2 FY26 YoY (%) H1 FY27 H1 FY26 YoY (%) Net sales 3,516 3,786 7% 2,754 28% 7,301 5,823 25% Revenue from operations 3,595 3,866 7% 2,859 26% 7,461 6,049 23% Operating expenses 3,096 3,227 4% 2,419 28% 6,323 4,936 28% EBITDA 500 639 22% 440 14% 1,138 1,113 2% Margins % 14.2% 16.9% 2.7% 15.9% 1.7% 15.5% 19.1% 3.6% Depreciation 146 144 2% 125 17% 290 250 16% Finance cost 118 112 5% 103 14% 230 209 10% Other income 40 40 1% 49 20% 80 105 24% Profit before tax (after exceptional item) 275 423 35% 261 5% 698 758 8% Provision for tax 85 132 36% 85 0.2% 217 250 13% Profit after tax 190 291 35% 176 8% 481 508 5% EPS (₹) 24.6 37.6 35% 22.7 8% 62.2 65.7 5% EBITDA (₹/MT) 852 983 13% 902 6% 921 1,075 14% (₹ crore)
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Financial performance 23 Financial statement (consolidated) Particulars Q2 FY27 Q1 FY27 QoQ (%) Q2 FY26 YoY (%) H1 FY27 H1 FY26 YoY (%) Net sales 3561 3896 9% 2932 21% 7457 6167 21% Revenue from operations 3,733 4,032 7% 3,019 24% 7,765 6,372 22% Operating expenses 3,226 3,384 5% 2,572 25% 6,610 5,238 26% EBITDA 507 648 22% 447 14% 1155 1,134 2% Margins % 14.2% 16.6% 2.4% 15.2% 1% 15.5% 18.4% 2.9% Depreciation 170 167 2% 149 14% 337 296 14% Finance cost 120 114 5% 105 14% 234 214 9% Other income 38 39 4% 51 26% 77 107 28% Profit before tax (after exceptional item) 255 406 37% 243 5% 662 732 10% Provision for tax 86 132 34% 84 3% 218 249 12% Profit after tax 169 275 38% 159 6% 444 483 8% EPS (₹) 22.3 35.9 38% 20.7 8% 58.3 62.7 7% (₹ crore)
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Financial performance 24 Steady debt profile Gross debt (₹ crore) 5,136 6,255 31st March 2026 30th Sep 2026 22% Cash (₹ crore) 5% 1,765 1,684 31st March 2026 30th Sep 2026 Net debt (₹ crore) 36% 3,370 4,571 31st March 2026 30th Sep 2026 Equity (₹ crore) 6,961 7,287 31st March 2026 30th Sep 2026 5% Net Debt / EBITDA as on 30th Sep 20261.95 x Net Debt / Equity as on 30th Sep 20260.63x
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Investor Presentation Q2 FY27 04 ESG updates ESG recognition and external validation Progressing towards our sustainability goals
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26 ESG recognition and external validation ESG updates 76/100 ESG score in S&P Global DJSI – CSA Assessment 67 ESG score by NSE Sustainability Ratings Analytics (JK Cement emerged as the highest rated cement company) A- CDP water security score A CDP supplier engagement assessment score B CDP climate change score Member in S&P Global DJSI Yearbook 2026
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27 Progressing towards our sustainability goals ESG updates CO2 emission (kg/tonne of cementitious material) Green power mix (%) Thermal substitution rate (%) Water positivity (times) FY20 (Base year) 580 19 6 3 FY30 (Target) 532 75 35 5 YTD Sep’26 559 56.9 11.9 4.9x Reaching Near Target 76% of Target Achieved Improvement from Base Year Almost Achieved Solar Power Plant at JK Cement Works, Mangrol
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Investor Presentation Q2 FY27 05 CSR and awards Anganwadi at JK Cement Works, Nimbahera Driving inclusive growth Building resilient communities Awards and accolades
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49 22 29 Social impact & CSR outreach (%) 29 Driving inclusive growth CSR and awards ~ 6 lakhs lives impacted YTD Sep 2026 ₹25.04 crore Social impact & CSR outreach YTD Sep 26 Education ~0.55 lakhs Beneficiaries ₹12.19 crore Spend − School infrastructure, scholarships and bags distribution at primary school − Contribution for higher education Health ~3.3 lakhs Beneficiaries ₹5.62 crore Spend − Medical & eye camps, mobile medical units − Contribution to IIT-K for setting up 500 bed super speciality hospital Social development ~2.1 lakhs Beneficiaries ₹7.24 crore Spend − Vocational training for women, cattle breeding programme, community infrastructure , CC road construction and Road safety initiatives etc. − Food packet distribution in flood affected area
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30 Building resilient communities CSR and awards Mobile medical unit in nearby village Eye camp organised for locals School Bag distribution at Govt School Road Safety –Distribution of Helmets Vocational skill development Road development work at Nimbahera Cattle breeding programme, Panna Food Packet distribution for flood affected people in Bihar Education Health Social development
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31 Awards and accolades CSR and awards Jt. MD Madhavkrishna Singhania has been recognized as Fortune India’s 40 under 40 National Award for Excellence in Energy Management for Nimbahera Excellence in Rural Marketing Award by ET Edge
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Thank you Registered Office Kamla Tower, Kanpur, Uttar Pradesh, India 208001 Telephone: 0091-512-2371478 Email: investor.relation@jkcement.com Website: www.jkcement.com