This infrastructure stock surged 6.5% today

JK Lakshmi Cement has its own limestone mines and is one of the cement industry's lowest-cost producers in terms of freight and electricity use.

On November 4, the market is trading in the red. At 1:05 pm, the S&P BSE Sensex is trading flat at 60,749.75, down 0.14%, while NIFTY50 is trading flat at 18,053.20. About sectoral performance, Metal and Capital Goods are the top gainers, while IT and Healthcare are among the top losers. Regarding stock-specific action, JK Lakshmi Cement Ltd is significantly outperforming the market today.

Shares of JK Lakshmi Cement Ltd have surged 6.5% and are trading at Rs 614.2, as of 1:05 pm. The stock opened at Rs 571.85 and so far, has made an intraday high and low of Rs 621.2 and Rs 571.85, respectively. On November 3, the company announced its September quarterly results.

JK Lakshmi Cement has its own limestone mines and is one of the cement industry's lowest-cost producers in terms of freight and electricity use. The company generates approximately 75% of its power demand through its own internal capacities. It owns and runs six cement facilities in Rajasthan, Chattisgarh, Gujarat, Haryana, and Odisha.

For the latest September quarter, the revenue figure stood at Rs 1374 crore. For the same quarter, the company generated a net profit of Rs 62 crore. For FY22, on a consolidated basis, the company reported a revenue of Rs 5420 crore and a net profit of Rs 478 crore. As per the FY22 period ending, the company’s ROE and ROCE stood at 20% and 18.7%, respectively. 
 About the shareholding pattern, 46.31% of the company’s stake is owned by the promoters, 12.84% by FIIs, 24.66% by DIIs, and the rest 16.18% by non-institutional investors.

The company has a market capitalisation of Rs 7282 crore and is currently trading at a PE multiple of 16.6x. The stock has a 52-week high and low of Rs 684 and Rs 366, respectively.