JK Cement Q4 results: Net profit rises 101% to ₹220 crore, declares dividend of ₹20 per share

Cement company JK Cement announced its fourth quarter financial results today, May 12, 2024. The company reported a 101 percent increase in its consolidated net profit. Rs 219.75 crore in the quarter ending March 31, 2024, compared to Rs. It was Rs 109.52 crore in the same period a year ago, in line with street estimates.

Consolidated revenue from operations was 3,105.77 for the March quarter, an increase of more than 11% compared to It was Rs 2,777.88 in the same period last year.

Also read: Fourth quarter results so far: Revenue increased by 14.4%, profit increased by 24.7%

The company declared composite dividend at forward rate 20, which includes the recommended dividend Special dividend of 15 more 5.

“Recommended dividend at the rate of Rs 15 per equity share (i.e. 150%) and special dividend at the rate of Rs. 5 per equity share (i.e. 50%) on golden jubilee from start of gray cement production and on completion of 40 years from start of white cement production, taking total dividend at the rate of Rs. 20 i.e. 200% per equity share of Rs. 10 each (fully paid) for the financial year 2023-24 subject to approval by the shareholders in the 30th Annual General Meeting of the company,” the company said in its exchange filing.

The record date of the recommended dividend and special dividend has been fixed as July 10, 2024. However, the dividend will be paid to shareholders on or before August 15, 2024.

“The record date for the annual general meeting and payment of dividend and special dividend is July 10, 2024. The dividend will be paid on or before August 15, 2024,” the company said.

The 30th Annual General Meeting (AGM) of the company will be held on Friday, July 19, 2024 through permitted means to discuss the fourth quarter earnings.

Also read: Q4 results: Companies to declare earnings next week include Zomato, Bharti Airtel, HAL, GAIL, Dixon Tech; check list here

JK Cement also announced the merger of Acro Paints Limited (step down subsidiary of the Company) with JK Max Paints Limited (wholly owned subsidiary of the Company) which was approved by the Regional Director (NR) on May 03, 2024 Has gone.

The company further announced that the Board has appointed Nidhipati Singhania as Non-Executive, Non-Independent Director, Raghavpat Singhania as Managing Director (MD) of the company for five years and Madhavkrishna Singhania as MD and CEO of the company for five years. As the re-appointment is approved. With effect from June 17, 2025.

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Published: May 12, 2024, 04:08 PM IST

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