About
J K Cements Ltd
J.K. Cement Limited (JK Cement) is one of the largest cement manufacturers in Northern India. The Company has an installed Grey Cement capacity of 16.67 million tonnes per annum (MnTPA) making it one of the leading manufacturers in the country. It is also the second largest white cement manufacturer in India, with annual capacity of 600,000 tonnes. The Company is also the second largest producer of Wall Putty in the country with an annual installed capacity of 700,000 tonnes. J.K. Cement is an affiliate of the J.K. Organization, which was founded by Lala Kamlapat Singhania in the year 1994. The Company produces 53-grade, 43-grade and 33-grade Ordinary Portland Cement (OPC) grey cement, Portland Pozzolana Cement ('PPC') under grey and white cement. JK Water proof is another product from JK Cements used for flooring, wall application and other specialized applications. The products are marketed under the brand names J.K. Cement and Sarvashaktiman for OPC products, J.K. Super for PPC products and J.K. White and Camel for white cement products.
The company has made its first international foray with the setting up of a green-field dual process white cement-cum-grey cement plant in the free trade zone at Fujairah, U.A.E to cater to the GCC and African markets. The plant at Fujairah has a capacity of 0.6 million tonnes per annum for White Cement with a flexibility to change over its operation to produce upto 1 million tonnes per annum of Grey Cement.
J.K. Cement was the first Company to install a captive power plant in the year 1987 at Bamania, Rajasthan. J.K Cement is also the first cement Company to install a waste heat recovery power plant to take care of the need of green power. Today at its different locations, the Company has captive power generation capacity of over 140.7 MWs which include 23.2 MW of waste heat recovery power plants.
From the year 1998 to 2004, modifications in kilns and cement mills etc. were implemented, which increased the aggregate installed capacity of the company's Nimbahera facility to 2.8 MTPA. The operations of second grey cement plant at the existed Mangrol were commenced with a five stage pre-heater and an in-line calciner kiln plant in 2001, with an installed capacity of 0.75 MTPA. During the year 2005-06, the company had commissioned 10 MW turbine to meet the necessity under the grey cement segment.
Jaykaycem Limited became a wholly owned subsidiary of the company in the year 2006 and acquired land to set up a Greenfield Grey Cement plant at Mudhol, Karnataka. In the year of 2006-07, the company had sanctioned enhancement in working capital Facility (both funded and non-funded) to Rs. 105 crores from Rs.65 crores. Started all the captive power projects i.e. 10MW turbine, 20MW Petcoke based Captive Power Plant & Waste Heat Recovery power plant. The Company had acquired from IDBI the assets of Nihon Nirmaan Ltd at Gotan during the year 2007, for Rs.42 crores and decided to utilize this facility to produce Grey cement.
From enhancing the domestic footprint, the company had taken steps to go beyond national boundaries. Entered into a Memorandum of Understanding (MoU) with Fujairah Municipality during November of the year 2007 in the United Arab Emirates, through the subsidiary J K Cement Works (Fujairah) FZC, to set up a 2.25 MTPA grey cement plant to service the steadily increasing demand in the GCC region. During the year 2007-08, the company formed a wholly owned subsidiary under the name and style of J.K.Cement (Fujairah) FZ to undertake the business of cement and investment in the state of UAE. This Company has formed another subsidiary company under the name and style of J.K.Cement Works (Fujairah) FZC under which it is proposed to set up a green field cement plant at Fujairah, UAE. The 10 MW of the Waste Heat Recovery Power Plant of the company was commissioned at Nimbahera in March of the year 2008.
In the year 2009 the company extended its footprint by setting up a green-field unit in Muddapur, Karnataka giving it access to the markets of south-west India. The company also commissioned a 50 MW coal based captive power plant at the Karnataka unit and a 7.5 MW coal-based captive power plant at its cement plant at Gotan in Rajasthan.
In 2012, J.K Cement enhanced white cement capacity at its cement plant at Gotan in Rajasthan by 0.2 million tonnes per annum (MnTPA), increasing the total white cement capacity to 0.6 MnTPA. The company also increased wall putty capacity to 0.3 MnTPA at the Gotan unit.
In 2014, J.K Cement commissioned a 1.5 MnTPA grinding unit for grey cement capacity at Jhajjar, Haryana. During the year, it also commissioned a 1.5 MnTPA grey cement capacity unit at Mangrol, Rajasthan. The company also commissioned a 0.6 MnTPA white cement capacity unit at Fujairah in UAE. The company also commissioned a 25 MW coal based power plant and 10 MW WHR Power plant at Mangrol in Rajasthan. During the year, J.K Cement expanded wall putty capacity to 0.5 MnNTPA at its unit at Gotan in Rajasthan.
The Board of Directors of J.K Cement at its meeting held on 3 August 2015 considered and/or taken note that the company acquired 100% paid up equity capital and thereupon made Jaykaycem (Central) Ltd. (an unlisted, public limited and part of promoter group company), its wholly owned subsidiary. This will facilitate to implement the business plan of Jaykaycem (Central) Ltd. and/or to implement its future cement project(s).
In 2016, J.K Cement set up a 0.2 MnTPA wall putty plant in Katni, Madhya Pradesh.
In 2018, the company initiated work on 4.2 MnTPA Brownfield expansion for grey cement at Mangrol, Rajasthan, which is about 40% of existing capacity. The estimated cost outlay for the expansion project is Rs 2000 crore. On 7 June 2018, J.K Cement announced that the successfully implemented additional installed capacity of 0.2 MnNTPA at its unit at Katni in Madhya Pradesh. With this, the total installed capacity at J.K.White, Katni stands at 0.4 MnTPA. With this the company has achieved white cement based Wall Putty manufacturing capacity of 0.9 MnTPA.
The Board of Directors of J.K Cement at its meeting held on 28 June 2018 interalia decided to offer, issue and allot equity shares through domestic and/or international offerings representing equity shares etc. for an amount not exceeding Rs 700 crores, through public issue and/or private placement and /or rights issue and/or preferential allotment and/or qualified institutional placement (QIP) subject to shareholders' approval sought in the ensuing Twenty Fourth Annual General Meeting of the company. The funds are proposed to be utilised for the purpose of funding the company's long term growth, repayment/prepayment of debt, general corporate purposes including capital expenditure and working capital or any other purposes as may be permissible under applicable law and approved by the Board of Directors.
During the FY2019,the Company through Qualified Institutions Placement (QIP) allotted 73,41,001 Equity Shares (fully paid up) to the eligible Qualified Institutional Buyers (QIB) at a price of Rs 695.80 per equity share of face value of Rs 10 each (inclusive of premium of Rs 685.80 per equity share) aggregating to Rs 51,078.68 lacs.
As on 31 March 2019,the company has three subsidiaries. During the year,Bander Coal Company Pvt Ltd,a Joint Venture company,has been liquidated.
During 2018-19,the company commissioned wall putty unit at Katni having installed capacity of 2 Lacs tonnes per annum.
Grey Cement expansion of 4.2 million tonnes per annum with 2.8 million clinker production line, 1 million tonnes Cement grinding and Waste Heat Recovery system at Mangrol, Rajasthan. 1 million cement grinding at Nimbahera, Rajasthan along with two Split Grinding Units of 1.5 million tonnes at Aligarh (Uttar Pradesh) and 0.7 million tonnes at Balasinor (Gujarat) in on schedule and will be completed by March 2020.
To upgrade existing Line No-3 at Nimabhera resulting in increased Clinker Production by 1,000 TPD. This is scheduled to complete by December 2020.
The Company's long-term plan is to set up integrated plant having capacity of 3.0-3.5 MnTPA plant at Panna (Madhya Pradesh) to achieve 18 MnTPA capacity by 2022. For this proposed expansion the Company has two mining leases. These leases have enough reserves to support expansion of 15 MnTPA in phases.
The Company commissioned 2.6 MnTPA clinker production line at Mangrol and 3.5 MnTPA cement grinding at Nimbahera, Mangrol and Aligarh and started commercial dispatches. Work of 0.7 MnTPA split grinding unit at Balasinor (Gujarat) was stopped on account of the outbreak of COVID-19. The work has restarted with limited workforce and is expected to be completed in Q3FY21.
The Company had to stop upgradation and modernisation of Line-3 at Nimbahera due to migration of labourers. The construction work has restarted with limited workforce.
The company had to suspend work of 0.3 MnTPA Wall Putty capacity at Katni due to the COVID-19 outbreak. The construction work has restarted with limited workforce and is expected to be completed by Q2FY21.
The operations and business performance of the Company during the Quarter ended June 30, 2020 was adversely impacted due to the shutdown of the Company's plants at various locations on account of lockdown announced by the Government after the outbreak of COVID-19 pandemic in March 2020. Operations were resumed in a phased manner since April 20, taking cognizance of the Governments' advisories around resuming manufacturing activities and after obtaining necessary permissions from the concerned authorities in this behalf.
The Company has commissioned 0.7 MnTPA Grey Cement grinding unit at J.K. Cement Balasinor and 0.3 MnTPA putty plant at J.K. White Cement Katni on October 8, 2020 and October 19,2020 respectively.
In 2020-21, the Company announced setting up of a greenfield grey cement manufacturing unit at Panna, MP with a split grinding unit at Hamirpur, U.P. with total capacity of 4 MnTPA under its wholly owned subsidiary M/s Jaykaycem (Central) Ltd. It commissioned 0.7 MnTPA Grey Cement grinding capacity at J.K.Cement Works, Balasinor, Gujarat and with this the Company completed its Grey
Cement capacity expansion of 4.2 MnTPA comprising in Rajasthan (2 MnTPA), Uttar Pradesh (1.5 MnTPA) and Gujarat (0.7 MnTPA). Further, it implemented additional installed capacity of 3 Lac Tonnes per annum of white cement based Wall Putty at J.K. White, Katni,
M.P., which stood at 7 Lac Tonnes per annum and the Company achieved white cement based Wall Putty manufacturing capacity of
13.3 Lac Tonnes per annum. It commissioned 16.85 MW Waste Heat Recovery at Mangrol, with this the Captive Power Capacity
(including WHR/Solar) has been increased to 144 MW.
As on 25 May, 2022 the Company has incorporated another Wholly Owned Subsidiary for entering into Paint business.
In 2021-22, the Company completed the upgradation work on line No. 3 at Nimbahera and commissioned in Sep'21. The Company initiated greenfield Grey Cement capacity expansion of 4 MTPA at Panna, Madhya Pradesh in wholly owned subsidiary JayKayCem (Central) Ltd., which would have clinker capacity of 8,000 TPD, 2 MTPA Cement Grinding Capacity each at Panna in Madhya Pradesh and at Hamirpur in Uttar Pradesh as well as Waste Heat Recovery of 22 MW. It started tolled operations of wall putty at two new locations, one at Siliguri in West Bengal and other at Guntur in Andhra Pradesh to improve capability to serve those market which remained untouched so far.
During the year 2022-23, Company, through its wholly owned subsidiary JK Maxx Paint Limited, acquired 60% equity share capital of M/s Acro Paints Ltd (APL), making APL a step down subsidiary of the Company effective from 6th January, 2023. Further, the Company commissioned the project of Clinker and Cement manufacturing unit at Panna, MP along with a split grinding unit at Hamirpur, U.P. with total capacity of 4 MnTPA under its wholly owned subsidiary M/s Jaykaycem (Central) Ltd. It introduced 2 MnTPA expansion by increasing Cement grinding Capacity at various units with this, the Grey Cement production Capacity increased to 20.67 MnTPA.
J K Cements Ltd
Chairman Speech
Dear stakeholders,
The year gone by was yet another reflection of JK Cement's
intrinsic strength and resilience to withstand external challenges. We not only managed to
deliver robust operational as well as financial performance, but also remained steadfast
on commitment to deliver sustainable growth. Amid a sharp increase in raw material costs
and pricing pressure, we brought our expanded capacities on stream as planned, continued
to make steady progress towards realising our ambitions. In addition, we opened new
windows of opportunities by foraying into the paints business through the inorganic route.
We now have a comprehensive portfolio spanning grey cement, white cement (WhitemaxX),
value added products like wall putty, gypsum plaster, tile adhesives and grouts, wood
finishes and paints.
Delivering consistent value
For FY 2022-23, we delivered industry-leading volume growth of 16%,
driven by strong domestic demand especially from infrastructure and housing construction
sectors. Our revenue from operations increased to 9,720 crore, up 22% from FY 2021-22.
However, operating expenses rose 33% y-o-y, primarily on account of higher energy and
logistics costs, which weighed significantly on margins. Although net sales realisations
increased marginally, the full impact of higher input prices could not be passed through
owing to pricing pressure on the back of intensifying competition. We reported EBITDA of
1,320 crore, down 14% while EBITDA margin came in at 13.9% versus 19.6% in the year
earlier period. Input prices have started to ease and are likely to stabilise going
forward, which should start flowing into the bottom-line from the second quarter. Our
Board of Directors recommended a dividend of 15 per share, which remains unchanged from
the year earlier.
On the road to sustainable growth
At JKCL, we have set clearly defined sustainability targets across
priority areas for 2030. Those priorities are also aligned with the United Nations
Sustainable Development Goals
(UN SDGs). We have implemented an internal carbon price and follow the
recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). The
organisation has achieved
~17% decrease in emissions from base year 2020, with ~44% power sourced
from green sources. The CDP climate score improved from ‘D' in FY 2020-21 to
‘B' in FY 2021-22, in the cement category. Additionally, our Muddapur facility
has received a GreenCo Platinum Rating, making it India's first integrated cement
factory to achieve this.
At JKCL, we are committed to making a positive impact on society
through various initiatives in areas like environment, healthcare, education, vocational
training, and community development.
Our sustainability efforts are centred around care, sensitivity, and
responsibility towards the local communities. Through our
Corporate Social Responsibility initiatives, we have invested 26.8
crore, positively impacting 4.8 lakh beneficiaries. Our ‘Sansparsh' programme
aims to promote the overall development and economic advancement of the communities in our
operational areas. This initiative includes various programmes such as the YPS Education
Upliftment Programme, YPS Health & Sanitation Mission, YPS Environment Conservation
Plan, YPS Drinking Water Project, and YPS Cattle Breed Improvement Project.
Fostering an inclusive work environment
We place great importance on diversity, equity, and inclusion. JKCL
prioritises the well-being of our workforce and strive to enhance their professional and
personal skills. Our commitment to employee growth is demonstrated by our consistent
achievement of the ‘Great place to work' recognition for the fourth consecutive
year!
We provide rigorous safety training for our factory workers and
emphasise safe driving practices. Safety is a paramount concern for us, and we regularly
assess and upgrade our safety measures to prevent accidents. We go beyond compliance with
our operation health and safety (OHS) standards. We also have measures in place to prevent
OHS emergencies and are prepared to handle any such situations using the
‘Suraksha' app, which tracks permits, incidents, and EHS
observations.
We utilise the SAP enterprise resource planning (ERP) system to
streamline our operations and exchange information
This system enables us to record and access real-time data on
accounting, procurement, supply chain, compliance, and other vital aspects of the
business.
All-round growth ahead
As we look ahead, I am confident in our growth potential. By reducing
reliance on inorganic means, we are poised to leverage our internal strengths and optimise
our resources effectively. This approach aligns perfectly with our track record of under
committing and overachieving, which has consistently generated value for our stakeholders.
Lastly, I would like to emphasise our unwavering commitment to maintaining an
investor-friendly approach. We greatly value the trust and support of our shareholders,
and we remain dedicated to delivering to creating long-term value for all our
stakeholders. Thank you for your continued confidence in our Company.
Together, we will forge ahead, setting new benchmarks and achieving
even greater success. With best wishes,
| Dr. Raghavpat Singhania |
| Managing Director |
Passion to outperform
Dear stakeholders,
Growth with purpose has been the cornerstone of JK Cement's
journey since inception, and it gives me immense pleasure to report you that the year gone
by was no exception. Amid inflation pressures and intensifying competition, we delivered
industry-leading double-digit volume growth while maintaining the trade mix, completed our
expansion projects on schedule, and stayed on track to our business and 2030
sustainability targets. This robust performance speaks volumes about our core belief of
under-committing and over-achieving. paint business. We have Aligned with India's
progress
In a world grappling with geopolitical tensions, high inflation and
moderate economic growth, India has been an outlier, recording ~ 7% growth in FY 2022-23
and continuing to invest heavily in building economic and social infrastructure. Buoyed by
strong demand from housing, infrastructure and industrial sectors, the Indian cement
industry recorded 12% demand growth, much above the historical average of 0.9-1.0x
economic growth. Demand is likely to remain strong into FY 2023-24 as the Union government
frontloads expenditure in the run up to the general elections next year.
Further, India's per capita cement consumption at 265 kg, remains
significantly below the global average of 500 kg, which leaves significant growth
headroom.
We have strategically planned capacity additions in central India to
expand our reach in the markets of Uttar Pradesh and Madhya Pradesh. We successfully
commissioned two greenfield projects within 18 months a 2 MTPA integrated plant at Panna
and a 2 MTPA grinding unit at Hamirpur, achieving capacity utilisation of
60% and operating profit in the first full quarter of operation. Also 2
MTPA capacity added in various existing units by debottlenecking, thereby increasing
overall capacity by 6 MTPA during the fiscal. With this Company joined over 20 MTPA
capacity club. Further, the 1.5 MTPA greenfield expansion at Ujjain and 2 MTPA capacity
addition at Prayagraj are progressing as per schedule, which when completed will take our
grey cement capacity to 24 MTPA by 2025.
Further, we have forayed into the paints segment by acquiring Acro
Paints. We believe the acquisition will be immediately value accretive, without the need
to deploy resources for setting up a earmarked a capex of 600 crore, which not only makes
our portfolio complete but also opens up new avenues for growth going forward.
Resilient performance amid
During FY 2022-23, we recorded 17% volume growth in grey cement and 8%
in white cement, with blended volumes growing at 16% y-o-y. Despite higher volumes, we
maintained our Grey Cement - blended cement mix at 65% and trade mix at 68%. Though, there
was an average increase in Net sales realisations per tonne of cement by 4 5 %, margins
remained under pressure due to all round significant increase in operating costs
especially due to higher petcoke/ coal prices.
Company's continuous effort to increase use of alternate fuel has
nullified the impact to some extent.
On account of cost optimisation initiatives our overall increase in
operating cost has been lower than competition.
We continued investing extensively in brand creation, customer
targeting strategies, and demand generation which is creating a strong retail pull for our
products.
Transitioning to green energy and net zero
At JKCL, we are committed to transitioning to green energy, achieving
net zero emissions, adopting circular economy practices, enhancing biodiversity, and
promoting sustainable mining, thereby setting industry benchmarks in sustainability.
Operating in a hard-to-abate industry, we actively explore new technologies and alternate
fuels, such as green fuel, to replace fossil fuels and work towards a net zero carbon
footprint.
We have made significant progress in reducing carbon emissions as per
SBTi targets, with a 17% decrease, i.e., 565 kg CO2/t cementitious
material, from the 2020 base year's emissions of 680 kg CO2/t. Joining the
‘Race to Zero' initiative, we aim to produce net zero cement and concrete by
2050 and have already achieved a 10% reduction in net Scope 1 carbon emissions.
Increasing our green energy mix is another priority, with a target of pressures
We have maintaining trade ratios despite rapid growth and witnessed
gains in the trade market, strengthening presence and market share.
75% by 2030. We employ various approaches to reduce thermal energy
consumption and invest in waste heat recovery systems and renewable energy systems.
Presently, our green energy mix stands at 44%.
Water consumption is also a key focus, with a goal to become five times
water positive by 2030 through efficient technologies and practices from the current four
times. Sustainable mining practices and biodiversity preservation are integral to our
operations. Environmental impact assessments are conducted, and management plans are
developed for mining operations to ensure compliance with environmental standards.
As part of our ‘Nature Positive'
2030 plan, we are establishing a biodiversity park in approximately 50
hectares of mine area in Chittorgarh,
Rajasthan. Our sustainability efforts have been recognised by the
Confederation of Indian Industry (CII), with the GreenCo Platinum (Muddapur) and GreenCo
Gold (Mangrol).
Building a skilled and engaged workforce
People remain at the core of our organisation, and we focus on their
development and well-being. Upskilling and reskilling initiatives are integral to our
efforts, with a goal to provide 20-man hours of training per employee by 2030 from the
current 12-man hours of training.
We prioritise the health and safety of our workforce and aspire to
maintain an injury-free and fatality-free workplace, both on-site and off-site. In
fostering a talented and diverse workforce, we aim to increase women's representation
to 5% by
2030, with notable progress achieved as we currently stand at 3%.
A future with outsized opportunities
We are driven by the belief that giving back to society and preserving
the environment is an integral part of our Company ethos. We understand that these efforts
add long-term value to our business while also benefitting the communities we operate in.
As we continue this journey, we remain committed to going the extra mile and achieving
even greater heights, striking a balance between profitability and sustainability.
India's inclusive and sustainable growth story is marked by its
commitment to upliftment and progress for all its citizens while ensuring long-term
environmental sustainability. The country has embarked on a transformative journey,
embracing sustainable development as a key driver of economic growth and equitable future.
JKCL, as a leading player in the cement industry is well placed to contribute to
India's multi-faceted progress.
I conclude by expressing my sincerest gratitude to our dealers,
distributors, supply chain partners, associates, our entire staff, and all our
stakeholders for their unwavering support and trust in our Company. We extend our best
wishes for a year filled with good health, safety, and prosperity for everyone.
| With warm regards, |
| Madhavkrishna Singhania |
| Deputy Managing Director & CEO |
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J K Cements Ltd
Company History
J.K. Cement Limited (JK Cement) is one of the largest cement manufacturers in Northern India. The Company has an installed Grey Cement capacity of 16.67 million tonnes per annum (MnTPA) making it one of the leading manufacturers in the country. It is also the second largest white cement manufacturer in India, with annual capacity of 600,000 tonnes. The Company is also the second largest producer of Wall Putty in the country with an annual installed capacity of 700,000 tonnes. J.K. Cement is an affiliate of the J.K. Organization, which was founded by Lala Kamlapat Singhania in the year 1994. The Company produces 53-grade, 43-grade and 33-grade Ordinary Portland Cement (OPC) grey cement, Portland Pozzolana Cement ('PPC') under grey and white cement. JK Water proof is another product from JK Cements used for flooring, wall application and other specialized applications. The products are marketed under the brand names J.K. Cement and Sarvashaktiman for OPC products, J.K. Super for PPC products and J.K. White and Camel for white cement products.
The company has made its first international foray with the setting up of a green-field dual process white cement-cum-grey cement plant in the free trade zone at Fujairah, U.A.E to cater to the GCC and African markets. The plant at Fujairah has a capacity of 0.6 million tonnes per annum for White Cement with a flexibility to change over its operation to produce upto 1 million tonnes per annum of Grey Cement.
J.K. Cement was the first Company to install a captive power plant in the year 1987 at Bamania, Rajasthan. J.K Cement is also the first cement Company to install a waste heat recovery power plant to take care of the need of green power. Today at its different locations, the Company has captive power generation capacity of over 140.7 MWs which include 23.2 MW of waste heat recovery power plants.
From the year 1998 to 2004, modifications in kilns and cement mills etc. were implemented, which increased the aggregate installed capacity of the company's Nimbahera facility to 2.8 MTPA. The operations of second grey cement plant at the existed Mangrol were commenced with a five stage pre-heater and an in-line calciner kiln plant in 2001, with an installed capacity of 0.75 MTPA. During the year 2005-06, the company had commissioned 10 MW turbine to meet the necessity under the grey cement segment.
Jaykaycem Limited became a wholly owned subsidiary of the company in the year 2006 and acquired land to set up a Greenfield Grey Cement plant at Mudhol, Karnataka. In the year of 2006-07, the company had sanctioned enhancement in working capital Facility (both funded and non-funded) to Rs. 105 crores from Rs.65 crores. Started all the captive power projects i.e. 10MW turbine, 20MW Petcoke based Captive Power Plant & Waste Heat Recovery power plant. The Company had acquired from IDBI the assets of Nihon Nirmaan Ltd at Gotan during the year 2007, for Rs.42 crores and decided to utilize this facility to produce Grey cement.
From enhancing the domestic footprint, the company had taken steps to go beyond national boundaries. Entered into a Memorandum of Understanding (MoU) with Fujairah Municipality during November of the year 2007 in the United Arab Emirates, through the subsidiary J K Cement Works (Fujairah) FZC, to set up a 2.25 MTPA grey cement plant to service the steadily increasing demand in the GCC region. During the year 2007-08, the company formed a wholly owned subsidiary under the name and style of J.K.Cement (Fujairah) FZ to undertake the business of cement and investment in the state of UAE. This Company has formed another subsidiary company under the name and style of J.K.Cement Works (Fujairah) FZC under which it is proposed to set up a green field cement plant at Fujairah, UAE. The 10 MW of the Waste Heat Recovery Power Plant of the company was commissioned at Nimbahera in March of the year 2008.
In the year 2009 the company extended its footprint by setting up a green-field unit in Muddapur, Karnataka giving it access to the markets of south-west India. The company also commissioned a 50 MW coal based captive power plant at the Karnataka unit and a 7.5 MW coal-based captive power plant at its cement plant at Gotan in Rajasthan.
In 2012, J.K Cement enhanced white cement capacity at its cement plant at Gotan in Rajasthan by 0.2 million tonnes per annum (MnTPA), increasing the total white cement capacity to 0.6 MnTPA. The company also increased wall putty capacity to 0.3 MnTPA at the Gotan unit.
In 2014, J.K Cement commissioned a 1.5 MnTPA grinding unit for grey cement capacity at Jhajjar, Haryana. During the year, it also commissioned a 1.5 MnTPA grey cement capacity unit at Mangrol, Rajasthan. The company also commissioned a 0.6 MnTPA white cement capacity unit at Fujairah in UAE. The company also commissioned a 25 MW coal based power plant and 10 MW WHR Power plant at Mangrol in Rajasthan. During the year, J.K Cement expanded wall putty capacity to 0.5 MnNTPA at its unit at Gotan in Rajasthan.
The Board of Directors of J.K Cement at its meeting held on 3 August 2015 considered and/or taken note that the company acquired 100% paid up equity capital and thereupon made Jaykaycem (Central) Ltd. (an unlisted, public limited and part of promoter group company), its wholly owned subsidiary. This will facilitate to implement the business plan of Jaykaycem (Central) Ltd. and/or to implement its future cement project(s).
In 2016, J.K Cement set up a 0.2 MnTPA wall putty plant in Katni, Madhya Pradesh.
In 2018, the company initiated work on 4.2 MnTPA Brownfield expansion for grey cement at Mangrol, Rajasthan, which is about 40% of existing capacity. The estimated cost outlay for the expansion project is Rs 2000 crore. On 7 June 2018, J.K Cement announced that the successfully implemented additional installed capacity of 0.2 MnNTPA at its unit at Katni in Madhya Pradesh. With this, the total installed capacity at J.K.White, Katni stands at 0.4 MnTPA. With this the company has achieved white cement based Wall Putty manufacturing capacity of 0.9 MnTPA.
The Board of Directors of J.K Cement at its meeting held on 28 June 2018 interalia decided to offer, issue and allot equity shares through domestic and/or international offerings representing equity shares etc. for an amount not exceeding Rs 700 crores, through public issue and/or private placement and /or rights issue and/or preferential allotment and/or qualified institutional placement (QIP) subject to shareholders' approval sought in the ensuing Twenty Fourth Annual General Meeting of the company. The funds are proposed to be utilised for the purpose of funding the company's long term growth, repayment/prepayment of debt, general corporate purposes including capital expenditure and working capital or any other purposes as may be permissible under applicable law and approved by the Board of Directors.
During the FY2019,the Company through Qualified Institutions Placement (QIP) allotted 73,41,001 Equity Shares (fully paid up) to the eligible Qualified Institutional Buyers (QIB) at a price of Rs 695.80 per equity share of face value of Rs 10 each (inclusive of premium of Rs 685.80 per equity share) aggregating to Rs 51,078.68 lacs.
As on 31 March 2019,the company has three subsidiaries. During the year,Bander Coal Company Pvt Ltd,a Joint Venture company,has been liquidated.
During 2018-19,the company commissioned wall putty unit at Katni having installed capacity of 2 Lacs tonnes per annum.
Grey Cement expansion of 4.2 million tonnes per annum with 2.8 million clinker production line, 1 million tonnes Cement grinding and Waste Heat Recovery system at Mangrol, Rajasthan. 1 million cement grinding at Nimbahera, Rajasthan along with two Split Grinding Units of 1.5 million tonnes at Aligarh (Uttar Pradesh) and 0.7 million tonnes at Balasinor (Gujarat) in on schedule and will be completed by March 2020.
To upgrade existing Line No-3 at Nimabhera resulting in increased Clinker Production by 1,000 TPD. This is scheduled to complete by December 2020.
The Company's long-term plan is to set up integrated plant having capacity of 3.0-3.5 MnTPA plant at Panna (Madhya Pradesh) to achieve 18 MnTPA capacity by 2022. For this proposed expansion the Company has two mining leases. These leases have enough reserves to support expansion of 15 MnTPA in phases.
The Company commissioned 2.6 MnTPA clinker production line at Mangrol and 3.5 MnTPA cement grinding at Nimbahera, Mangrol and Aligarh and started commercial dispatches. Work of 0.7 MnTPA split grinding unit at Balasinor (Gujarat) was stopped on account of the outbreak of COVID-19. The work has restarted with limited workforce and is expected to be completed in Q3FY21.
The Company had to stop upgradation and modernisation of Line-3 at Nimbahera due to migration of labourers. The construction work has restarted with limited workforce.
The company had to suspend work of 0.3 MnTPA Wall Putty capacity at Katni due to the COVID-19 outbreak. The construction work has restarted with limited workforce and is expected to be completed by Q2FY21.
The operations and business performance of the Company during the Quarter ended June 30, 2020 was adversely impacted due to the shutdown of the Company's plants at various locations on account of lockdown announced by the Government after the outbreak of COVID-19 pandemic in March 2020. Operations were resumed in a phased manner since April 20, taking cognizance of the Governments' advisories around resuming manufacturing activities and after obtaining necessary permissions from the concerned authorities in this behalf.
The Company has commissioned 0.7 MnTPA Grey Cement grinding unit at J.K. Cement Balasinor and 0.3 MnTPA putty plant at J.K. White Cement Katni on October 8, 2020 and October 19,2020 respectively.
In 2020-21, the Company announced setting up of a greenfield grey cement manufacturing unit at Panna, MP with a split grinding unit at Hamirpur, U.P. with total capacity of 4 MnTPA under its wholly owned subsidiary M/s Jaykaycem (Central) Ltd. It commissioned 0.7 MnTPA Grey Cement grinding capacity at J.K.Cement Works, Balasinor, Gujarat and with this the Company completed its Grey
Cement capacity expansion of 4.2 MnTPA comprising in Rajasthan (2 MnTPA), Uttar Pradesh (1.5 MnTPA) and Gujarat (0.7 MnTPA). Further, it implemented additional installed capacity of 3 Lac Tonnes per annum of white cement based Wall Putty at J.K. White, Katni,
M.P., which stood at 7 Lac Tonnes per annum and the Company achieved white cement based Wall Putty manufacturing capacity of
13.3 Lac Tonnes per annum. It commissioned 16.85 MW Waste Heat Recovery at Mangrol, with this the Captive Power Capacity
(including WHR/Solar) has been increased to 144 MW.
As on 25 May, 2022 the Company has incorporated another Wholly Owned Subsidiary for entering into Paint business.
In 2021-22, the Company completed the upgradation work on line No. 3 at Nimbahera and commissioned in Sep'21. The Company initiated greenfield Grey Cement capacity expansion of 4 MTPA at Panna, Madhya Pradesh in wholly owned subsidiary JayKayCem (Central) Ltd., which would have clinker capacity of 8,000 TPD, 2 MTPA Cement Grinding Capacity each at Panna in Madhya Pradesh and at Hamirpur in Uttar Pradesh as well as Waste Heat Recovery of 22 MW. It started tolled operations of wall putty at two new locations, one at Siliguri in West Bengal and other at Guntur in Andhra Pradesh to improve capability to serve those market which remained untouched so far.
During the year 2022-23, Company, through its wholly owned subsidiary JK Maxx Paint Limited, acquired 60% equity share capital of M/s Acro Paints Ltd (APL), making APL a step down subsidiary of the Company effective from 6th January, 2023. Further, the Company commissioned the project of Clinker and Cement manufacturing unit at Panna, MP along with a split grinding unit at Hamirpur, U.P. with total capacity of 4 MnTPA under its wholly owned subsidiary M/s Jaykaycem (Central) Ltd. It introduced 2 MnTPA expansion by increasing Cement grinding Capacity at various units with this, the Grey Cement production Capacity increased to 20.67 MnTPA.