· JKCE is one of India's leading cement producers, with 10.5mtpa of grey cement capacity and 1.2mt white cement capacity

· JKCE is strategically well placed to benefit from the expected price improvement in the north due to limited supply addition. Incrementally, the grey cement division should see a marked improvement in profitability due to higher proportion of volumes from new efficient units.

· JKCE’s capacity expansion will reduce its proportion of inefficient assets. The white cement business has gained meaningful scale and deserves premium valuations, given raw material scarcity and JKCE’s 40-45% share in the domestic white cement market.

· We expect Revenue/PAT CAGR of 11%/37% led by enhanced capacity and cost saving initiatives.

Disclaimer: The above report is compiled from information available on public platforms. inChat team advises users to check with certified experts before taking any investment decisions.

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