External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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Equity Bottom-Up

<ul><li>With 14.7 MT grey cement capacity, JK Cement is the fourth largest player in North India, which contribute over 40% of its revenues.</li><li>The company also has a presence in Gujarat, Maharashtra and Karnataka.</li><li>It is also the second largest producer of white cement (0.6 MT) and wall putty (1.2 MT) in India </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

With 14.7 MT grey cement capacity, JK Cement is the fourth largest player in North India, which contribute over 40% of its revenues.The company also has a presence in Gujarat, Maharashtra and Karnataka.It is also the second largest producer of white cement (0.6 MT) and wall putty (1.2 MT) in India Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

JK Cement (JKCEME) - New Capacities to Keep Growth Momentum Strong...

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>Infoedge: Infoedge posted a good quarter, with both revenue (+4.8% QoQ) and margin coming ahead of estimates</li><li>The growth was led by the core recruitment segment (+8% QoQ) and 99acres (+5.1%) while Jeevansathi continued to drag</li><li>The recruitment billings (earlier boosted by strong IT hiring) are showing signs of softness, offset by better hiring in non-IT sectors like BFSI, travel, infra and hospitality</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Infoedge: Infoedge posted a good quarter, with both revenue (+4.8% QoQ) and margin coming ahead of estimatesThe growth was led by the core recruitment segment (+8% QoQ) and 99acres (+5.1%) while Jeevansathi continued to dragThe recruitment billings (earlier boosted by strong IT hiring) are showing signs of softness, offset by better hiring in non-IT sectors like BFSI, travel, infra and hospitalityContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Infoedge, Bharat Forge, JK Cement, Brigade Enterprises

External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>JK Cement reported healthy volume and revenue growth in Q2FY23, supported by better demand and higher realization in its key markets.</li><li>On a consolidated basis, the company’s Volume/Revenue grew at 9%/18%YoY, above our expectations.</li><li>It recorded an EBITDA margin of13.7%in line with expectations but above consensus estimates of 12.7%, owing to better realization and higher volume.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

JK Cement reported healthy volume and revenue growth in Q2FY23, supported by better demand and higher realization in its key markets.On a consolidated basis, the company’s Volume/Revenue grew at 9%/18%YoY, above our expectations.It recorded an EBITDA margin of13.7%in line with expectations but above consensus estimates of 12.7%, owing to better realization and higher volume.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

JK Cements Ltd - Encouraging Results; New Announced Capacity to Aid in Growth

<div><div><div><div><ul><li>A leading cement manufacturer in the country, JK Cements Ltd is an affiliate of the multi-disciplinary industrial conglomerate JK Organization, which was founded by Lala Kamlapat Singhania.</li><li>The Company has over four decades of experience in cement manufacturing. Today, JK Cements has an installed Grey Cement capacity of 14.7 mtpa and White Cement and Wall Putty capacity of 2.8mtpa, making it one of the leading cement manufacturers in the country.</li><li>The Company is the second largest manufacturer of White Cement in India.</li></ul></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

A leading cement manufacturer in the country, JK Cements Ltd is an affiliate of the multi-disciplinary industrial conglomerate JK Organization, which was founded by Lala Kamlapat Singhania.The Company has over four decades of experience in cement manufacturing. Today, JK Cements has an installed Grey Cement capacity of 14.7 mtpa and White Cement and Wall Putty capacity of 2.8mtpa, making it one of the leading cement manufacturers in the country.The Company is the second largest manufacturer of White Cement in India.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul><li>Healthy volumes; mixed pricing trend across regions: We estimate our coverage universe of 15 companies to deliver 8% YoY volume growth (three-year CAGR: 8%) in Q2FY23</li><li>We estimate average utilisation of ~71% vs 78/70% QoQ/YoY. In our view, cement prices fell ~3% QoQ on pan-India basis in Q2</li><li>Prices fell 5-6% QoQ each in north and central regions, 3-4% each in east and west regions and ~1-2% in south</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Healthy volumes; mixed pricing trend across regions: We estimate our coverage universe of 15 companies to deliver 8% YoY volume growth (three-year CAGR: 8%) in Q2FY23We estimate average utilisation of ~71% vs 78/70% QoQ/YoY. In our view, cement prices fell ~3% QoQ on pan-India basis in Q2Prices fell 5-6% QoQ each in north and central regions, 3-4% each in east and west regions and ~1-2% in southContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Cement (Q2FY23 Results Preview): Healthy offtake; costs to peak out in Q2

India

JK Cement Limited produces and manufactures Portland and White cement products.

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JK Cement Ltd (JKCE IN)

JK Cement (JKCEME) - New Capacities to Keep Growth Momentum Strong...

With 14.7 MT grey cement capacity, JK Cement is the fourth largest player in North India, which contribute over 40% of its revenues.

ICICI Securities Limited

HSIE Results Daily: Infoedge, Bharat Forge, JK Cement, Brigade Enterprises

Infoedge: Infoedge posted a good quarter, with both revenue (+4.8% QoQ) and margin coming ahead of estimates. The growth was led by the core...

HDFC Securities

JK Cements Ltd - Encouraging Results; New Announced Capacity to Aid in Growth

JK Cement reported healthy volume and revenue growth in Q2FY23, supported by better demand and higher realization in its key markets.

Axis Direct

Pick of the Week - JK Cements Ltd

A leading cement manufacturer in the country, JK Cements Ltd is an affiliate of the multi-disciplinary industrial conglomerate JK Organization

Axis Direct

Cement (Q2FY23 Results Preview): Healthy offtake; costs to peak out in Q2

Healthy volumes; mixed pricing trend across regions: We estimate our coverage universe of 15 companies to deliver 8% YoY volume growth (three-year...

HDFC Securities

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