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J K Cements Ltd

BSE Code : 532644 | NSE Symbol : JKCEMENT | ISIN:INE823G01014| SECTOR : Cement |

NSE BSE
 
SMC down arrow

3,242.80

-111.30 (-3.32%) Volume 280564

26-Nov-2021 EOD

Prev. Close

3,354.10

Open Price

3,343.00

Bid Price (QTY)

0.00(0)

Offer Price (QTY)

3,242.80(9)

 

Today’s High/Low 3,370.00 - 3,230.00

52 wk High/Low 3,838.00 - 1,850.00

Key Stats

MARKET CAP (RS CR) 25041.87
P/E 34.08
BOOK VALUE (RS) 517.0221403
DIV (%) 150
MARKET LOT 1
EPS (TTM) 95.09
PRICE/BOOK 6.26839693580527
DIV YIELD.(%) 0.46
FACE VALUE (RS) 10
DELIVERABLES (%) 28.2
4

News & Announcements

25-Nov-2021

J K Cements Ltd - JK Cement Limited - Loss of Share Certificates

24-Nov-2021

J K Cements Ltd - JK Cement Limited - Updates

22-Nov-2021

J K Cements Ltd - JK Cement Limited - Loss of Share Certificates

18-Nov-2021

Volumes soar at Zensar Technologies Ltd counter

03-Nov-2021

JK Cements to table results

29-Sep-2021

J K Cements commissions enhanced clinker capacity at Nimbahera unit

29-Jul-2021

J K Cements receives revision in credit ratings from CARE

20-Jul-2021

JK Cements to convene board meeting

Corporate Actions

Bonus
Splits
Dividends
Rights
Capital Structure
Book Closure
Board Meeting
AGM
EGM
 

Financials

Income Statement

Standalone
Consolidated
 

Peers Comparsion

Select Company Name BSE Code NSE Symbol
ACC Ltd 500410 ACC
Ambuja Cement Eastern Ltd(merged) 532201
Ambuja Cement Rajasthan Ltd (Merged) 500122 AMBUJARAJN
Ambuja Cements Ltd 500425 AMBUJACEM
Balaram Cements Ltd 518034
Barak Valley Cements Ltd 532916 BVCL
Basera Cements Ltd(liquidated) 530275
Birla Corporation Ltd 500335 BIRLACORPN
Burnpur Cement Ltd 532931 BURNPUR
Dhar Cement Ltd(liquated) 502076
Gangotri Cement Ltd 518093
Garden Cements Ltd 40395
Gujarat High Tech Industries Ltd 524003
Gujarat Himalaya Cements Ltd 502096
Gujarat Sidhee Cement Ltd 518029 GSCLCEMENT
HeidelbergCement India Ltd 500292 HEIDELBERG
Indo American Cement Corporation Ltd 518099
Jaipur Udyog Ltd 502145
Jamshedpur Cement Ltd 40103
Janpriya Cement Ltd 502088
JK Lakshmi Cement Ltd 500380 JKLAKSHMI
Kalyanpur Cements Ltd 502150
Kesoram Industries Ltd 502937 KESORAMIND
Kesoram Industries Ltd Partly Paidup 890156 KILPP
Lloyd Cements Ltd 531605
Mahendra Cements Ltd 518079
Mangalam Cement Ltd 502157 MANGLMCEM
Modern Cement Industries Ltd 518081
Narmada Cement Company Ltd(merged) 502162 NARMADCEM
Nihon Nirmaan Ltd 500453 NIHONIRMAN
Nirman Cements Ltd 531954
Nuvoco Vistas Corporation Ltd 543334 NUVOCO
OCL India Ltd(Merged) 502165 OCL
Panchmahal Cement Ltd 502070 PANCHMACEM
Pittie Cement & Industries Ltd(liquidated) 500332 PITTIECEM
Prism Johnson Ltd 500338 PRSMJOHNSN
Prudential Cements Ltd (Wound-up) 518059
Radhakisan Cement Ltd 502079
Ranisagar Cement Company Ltd 518107
RCC Cements Ltd 531825
Sahas Cements Ltd 531124
Samruddhi Cement Ltd(merged) 533209 SAMRUDDHI
Sanghi Industries Ltd 526521 SANGHIIND
Saurashtra Cement Ltd 502175 SAURASHCEM
Scan Projects Ltd 531797
Shree Cement Ltd 500387 SHREECEM
Shree Digvijay Cement Co. Ltd 502180 SHREDIGCEM
Shree I-Jee Cement Industries Ltd 518089
Shri Hariganga Cement Ltd 502083
Shubham Industries Ltd 518087
Sigma Cements Ltd 518113
Somani Cement Company Ltd 518071 SOMANICEM
Star Cement Ltd 540575 STARCEMENT
Sukhchain Cements Ltd 518095
Udaipur Cement Works Ltd 530131 JKUDYOG
UltraTech Cement Ltd 532538 ULTRACEMCO
Ultratech Nathdwara Cement Ltd 532849 BINANICEM
Vaishno Cement Co Ltd 526941
Varun Cements Ltd 518109
Vedvyas Cement Ltd 531195
Vinay Cements Ltd 518051
Vishwakarma Cements Ltd 518097
Zodiac Cements Ltd 532082

Share Holding

Category No. of shares Percentage
Total Foreign 13588895 17.59
Total Institutions 15487999 20.04
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 570520 0.74
Total Promoters 44520550 57.62
Total Public & others 3100287 4.01
Total 77268251 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About J K Cements Ltd

J.K. Cement Limited (JK Cement) is one of the largest cement manufacturers in Northern India. J.K. Cement has an installed grey cement capacity of 10.5 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. J.K. Cement 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.

J K Cements Ltd Chairman Speech

GROWING TOGETHER, STAYING AHEAD

DEAR SHAREHOLDERS,

Every once in a while, a truly global event occurs, altering the traditional paradigm of life and living. It also brings to the fore the collective human ingenuity, not only to transcend existential challenges but also to thrive in a new normal. At J.K. Cement, we have always emphasised the importance of growing together to stay ahead of the curve. The strong and vibrant stakeholder ecosystem we have built over the years, strengthens our resilience and provides a strong foundation to propel the next phase of our growth journey and co-create a shared future.

STRONG ALL-ROUND PERFORMANCE IN

A CHALLENGING YEAR

I am pleased to share that J.K. Cement delivered another year of strong growth and profitability in FY 2019-20, amid an already challenging external environment that was further dampened by the COVID-19 pandemic. A slowing domestic economy, delayed infrastructure spending and pandemic-induced disruptions in the fourth quarter impacted cement demand. Considering the high correlation of cement demand with the domestic economy, our performance demonstrates our robust fundamentals, driven by resource efficiency, expanded capacities, growing prominence across urban and rural markets and enhanced reach.

We achieved growth of 10% in revenue from operations to Rs 5,464 Crores in FY 2019-20 (from Rs 4,981 Crores in FY 2018-19). Our EBIDTA increased 40% to Rs 1,201 Crores in FY 2019-20 (from Rs 855 Crores in FY 2018-19) while EBIDTA margin improved to 21.98% in 2019-20 (17.16% in FY 2018-19). EBIDTA/tonne rose 41% to Rs 1,256 in FY 2019-20 from Rs 888 in FY 2018-19. Net profit increased 23% to Rs 400 Crores in FY 2019-20 (from Rs 325 Crores in FY 2018-19). Our earnings per share stood at Rs 51.82 in FY 2019-20. The Board recommended an interim dividend of Rs 7.50 per share in February 2020 which was treated as final dividend in the meeting held in June 2020.

At J.K. Cement, we have always emphasised the importance of growing together to stay ahead of the curve.

EXPANSION PLANS LARGELY ON TRACK

During the year under review, we made significant progress in our expansion plans. We commissioned the 2.6 MnTPA clinker production line at Mangrol (Rajasthan) and 3.5 MnTPA cement grinding capacity out of which, Nimbahera (1 MnTPA), Mangrol (1 MnTPA) and split grinding unit at Aligarh (1.5 MnTPA). Work at split grinding unit at Balasinor (Gujarat) of 0.7 MnTPA had to be stopped for some time due to the nationwide lockdown to contain the COVID-19 spread. We now expected the unit to come on stream in third quarter of FY 2020-21.

We undertook the modernisation of line number 3 at our Nimbahera plant, which is expected to complete by the end of financial year. The 3-Lac-Tonne wall putty expansion work at Katni has also been deferred due to disruptions caused by the pandemic and is likely to be commissioned by the end of the second quarter of FY 2020-21.

DELIVERING ON BRAND PROMISE

We continued on our product innovation path by launching two new products. Manufactured through a technology developed inhouse, Particle level Water (PWRT), JK Super Strong Weather Shield Cement has an integral water repellent property at the particle level. JK Cement TileMaxX is our polymer-modified high strength adhesive used for all types of tiles, tiles on tiles and cementitious substrates. To expand and strengthen our sub-brands under the white cement portfolio, we re-launched our iconic JK Wall Putty as JK Cement WallMaxX - with the stated promise of making the walls of your home, Rs the ultimate masterpiece.'

SUSTAINABILITY AGENDA GAINS FURTHER TRACTION

At J.K. Cement, we work relentlessly to improve resource efficiency in clinker and cement production processes by optimising energy usage, utilising generated waste, and targeting higher alternative fuel and raw material usage. We enhanced our focus on environmental protection, energy efficiency, and emission reduction. We are constantly investing in research and development initiatives to limit the use of natural resources in grey cement manufacturing and increase the share of additives like fly ash and slag in the production process.

COMBATING A GLOBAL HEALTH MENACE TOGETHER

As a responsible corporate citizen, we have always believed in giving back to the society, especially during the hour of extreme need. Our team across plants and the Head Office came together to stand by the nation in its fight against the pandemic. Over 2,500 employees contributed a day's salary to the PM CARES Fund.

In addition, we extended our support to the local communities by providing food and shelter, as well as by distributing personal protective equipment to frontline health workers.

Timely payments were ensured for our contractual workers.

We constantly engaged with our people through various communication modes to spread awareness about the precautionary measures that must be undertaken to keep COVID-19 at Pay.

Additionally, we are developing and supporting the communities in which we operate. We continue to focus on making a meaningful difference to their lives through well-structured initiatives in education, community hygiene, infrastructure development, livelihood support, and vocational training and skill development.

GREAT PEOPLE CONVERGE AT GREAT WORKPLACE

Our people provide us a competitive edge and are the key catalysts in our journey of progress. We foster a high-performance culture, and supportive workplace where open dialogue is encouraged, thereby enabling employees to realise their full potential and creating growth opportunities. We strive to provide a conducive environment for continuous innovation and improvements, by adopting a meritocratic rewards and recognition programme.

Our belief that great employees make a great workplace and efforts to provide the best experience to our people got its due recognition through the prestigious Rs Great Place to Work' certification. We thank each and every employee for their invaluable contribution in shaping our organisational culture.

A SALUTE TO THE GRIT AND DETERMINATION OF CONSTRUCTION WORKERS

Recently, we launched the #YehPuccaHai campaign as our tribute to construction workers. Through the film, we chronicle the journey of a construction labourer and his son, whose dreams and desires are shaped by the surroundings. It vividly narrates the power of hard work, sacrifices and determination in overcoming odds to build a safe nation.

LOOKING AHEAD

The long-term domestic demand outlook for cement remains buoyant and any weakness is likely to be transient. With the government's renewed push on infrastructure development and construction, cement demand is likely to return to its normal growth trajectory, especially aided by the rural market where the pandemic seems to have had a limited impact. We are well positioned to further cement our market leadership and capitalise on emerging opportunities; and we seek the support and guidance of all our stakeholders in future endeavours.

Warm regards,

Yadupati Singhania

Managing Director DIN - 00050364 Dated - 17th June, 2020

   

J K Cements Ltd Company History

J.K. Cement Limited (JK Cement) is one of the largest cement manufacturers in Northern India. J.K. Cement has an installed grey cement capacity of 10.5 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. J.K. Cement 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.

J K Cements Ltd Directors Reports

Dear Members,

Your Directors have pleasure in presenting Company's Twenty Seventh Annual Report and Audited Financial Statements for the year ended 31 March 2021.

1. Financial Results

In Rs. lacs

Particulars 2020-21 2019-20
Revenue from operations 6,32,827.88 5,46,376.77
Profit before depreciation & tax 1,40,408.86 1,04,455.08
Less: Depreciation 24,467.71 21,438.87
Less: Exceptional items 16,686.50 17,815
Profit Before Tax 99,254.65 65,201.21
Tax Expense (Including deferred tax and tax adjustment of earlier years) 38,972.07 25,163.62
Profit After Tax 60,282.58 40,037.59
Add: Retained earnings at the beginning of the year 1,21,146.50 1,05,672.09
Transfer to Debenture Redemption Reserve (3,289.40) (1,865.10)
Dividend on Equity Shares 11,590.24 **6,986.00
Balance to be carried forward 1,74,854.95 1,21,146.50

**including dividend tax

2. Performance of the Company

Your Company's performance during the year under report has overall improved. The Company's gross turnover increased by 15.8 % to Rs. 6,328.28 Crores during the year compared to Rs. 5,463.77 Crores in previous year. Profit before Depreciation and Tax increased to Rs. 1,404.09 Crores compared to Rs. 1,044.55 Crores.

3. Performance of the Subsidiary Companies

The Company has three subsidiaries. There has been no material change in the nature of the business of subsidiaries.

Subsidiary Company

J.K. Cement (Fujairah) FZC (JKCF), being investment company recorded net loss of AED 84,885,315 (equivalent to Rs. 17,153.81 lacs) for the period from 1 April 2020 to 31 March 2021 (Previous year net income of AED 38,43,956 equivalent to Rs. 741.07 lacs)

J.K. Cement Works (Fujairah) FZC (JKCWF), is involved in principal business of manufacture and sale of White Cement in Middle East, GCC market and also export to different Countries, recorded a turnover of AED 147,685,967 (equivalent to Rs. 29,844.68 lacs (Previous year AED 195,341,574 equivalent to Rs. 37,659.63 lacs). It recorded a loss before OCI of AED 32,398,118 (equivalent to Rs. 6,617.29 lacs) for the period from 1 April 2020 to 31 March 2021 {Previous year a loss of AED 47,614,903 (equivalent to Rs. 9,004.55 lacs)} JKCF and JKCWF have been incurring continued losses. Based on valuation exercised by independent Valuer, necessary entry of impairment of investment in JKCF has been framed in the Books of your Company during this year.

Jaykaycem (Central) Ltd. recorded a net loss of Rs. 32.37 lacs (previous year loss Rs. 10.27 lacs) for the year ended 31 March 2021.

4. Consolidated Financial Statements

The statement as required under Section 129 of the Companies Act, 2013, in respect of the subsidiaries of the Company viz. J.K. Cement (Fujairah) FZC,

J.K. Cement Works (Fujairah) FZC and Jaykaycem (Central) Ltd are annexed and forms an integral part of this Report. Consolidated Financial Statements prepared in accordance with relevant Accounting Standards issued by the Institute of Chartered Accountants of India, form part of the Annual Report and Accounts.

5. Impact of COVID-19 Pandemic

Your company has considered possible effects that has been impacted due to COVID-19 in the preparation of Audited Annual Accounts for 2020-21. Production and Sales affected due to lockdown declared by appropriate Government but with gradual lifting of lockdown in phased manner production and sale picked up gradually as a result overall performance improved.

6. Dividend

The Board of Directors has recommended a payment of dividend at a rate of Rs. 15 per equity share (150%) for the year ended 31 March 2021 (as against Rs. 7.50 per equity shares declared in 2019-20) with total outgo of Rs. 11,590.24 lacs subject to the approval of the Members at the 27th Annual General Meeting ('AGM').In terms of the provisions of Regulation 43A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('the Listing Regulations'), the Company has formulated a Dividend Distribution Policy which is available on the Company's website and can be accessed at https://www.ikcement.com/pdf/dividend distribution policy of jk cement ltd.pdf

7. Transfer to Reserves

The Company proposes to transfer Rs. 3,289.40 lacs (previous year Rs. 1,865.10 lacs) from Debenture Redemption Reserve and Rs. 10,000 lacs (previous year Rs. 10,000 lacs) to General Reserve during Financial Year 2020-21.

8. Share Capital

The paid-up Equity Share Capital as at 31 March 2021 remained at Rs. 77.27 Crores. During the period under report, your Company has not issued any share including Sweat Equity ESOP. However, during the year under report your Company raised Rs. 250 Crores by issuing Non-Convertible Debentures to Banks.

9. Finance

During the year under report, your Company has availed a sum of Rs. 585 Crores towards disbursement of term loans (previous year Rs. 683 Crores). However, it repaid Rs. 346.73 Crores (previous year Rs. 255.19 Crores) towards Term Loan and Non-Convertible Debentures.

10. Credit Rating

In spite of challenging cement industry scenario, CARE has reaffirmed your Company's rating as "CARE AA" (Care double AA) for long term bank facilities and "CARE A1+" for short term bank facilities. India Ratings and Research (Ind-Ra) (Fitch Group) has assigned Long-Term Issuer Rating of 'IND AA+'.

11. Particulars of Guarantees or Investments by the Company

Details of Guarantees and Investments covered under the provisions of Section 186 of the Companies Act, 2013 are given in the Notes to the Financial Statements.

12. Operations Grey Cement

During the year under report production increased by 17.47% at 9.71 Million Tonnes (compared to 8.27 Million Tonnes last year) and sales increased by 19.36% at 9.78 Million Tonnes (compared to 8.19 Million Tonnes last year).

White Cement

Production of White Cement & Wall Putty decreased by 0.76 % at 12.90 Lac Tonnes during the year compared to 12.99 Lac Tonnes last year. Sale increased by 1.13 % at 13.42 Lac Tonnes (compared to 13.27 Lac Tonnes last year)

13. Projects of the Company Projects undertaken / completed-

Your Company has

(a) 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. ('Jaykaycem').

(b) successfully commissioned 0.7 MnTPA Grey Cement grinding capacity at J.K.Cement Works, Balasinor, Gujrat and with this your Company has successfully completed its Grey Cement capacity expansion of 4.2 MnTPA comprising in Rajasthan (2 MnTPA), Uttar Pradesh (1.5 MnTPA) and Gujrat (0.7 MnTPA).

(c) successfully implemented additional installed capacity of 3 Lac Tonnes per annum of white cement based wall putty at J.K. White, Katni, M.P ('Katni') and with this the installed capacity at JK Katni stands at 7 Lac Tonnes per annuam and your Company has achieved white cement based Wall Putty manufacturing capacity of 13.3 Lac Tonnes per annum

14. Personnel

14.1 Industrial Relations

The industrial relations during the period under review generally remained cordial at all cement plants.

14.2 Particulars of Employees

List of employees getting salary in excess of the limits as specified under the provisions of Section 134 of the Companies Act, 2013 read with Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 throughout or part of the financial year under review is annexed separately marked as Annexure - E. However, the Annual Report excluding the aforesaid information is being sent to all the members of the Company pursuant to proviso to Section 136 of the Companies Act, 2013. Any member interested in obtaining such particulars may inspect and/ or send the request to the Company at its Registered Office. None of the employee listed in the said Annexure is a relative of any Director of the Company except Dr. Raghavpat Singhania, Managing Director and Mr. Madhavkrishna Singhania Dy. Managing Director and Chief Executive Officer. None of the employee hold (by himself or along with his spouse and dependent children) more than two percent of the equity shares of the Company.

The information required pursuant to Section 197(12) read with Rule 5(1) of The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and Companies (Particulars of Employees) Rules, 1975, in respect of employees of the Company and Directors is furnished hereunder:

Particulars about Key Managerial Personnel.

Remuneration Paid in INR % Increase in Remuneration from previous Year Ratio/Time per median of employee remuneration to Remuneration**
Name Designation 2020-21 2019-20
1 Dr. Raghavpat Singhania Managing Director *9,01,14,537 1,62,04,773 456.09 107:1
2 Mr. Madhavkrishna Singhania Dy. Managing Director and Chief Executive Officer *8,20,88,975 1,26,26,202 550.15 97:1
3 Mr. Ajay Kumar Saraogi Dy Managing Director and Chief Financial Officer *7,30,53,257 2,92,15,616 150.05 86:1
4 Mr.Shambhu Singh Company Secretary 72,97,020 61,57,782 18.5 9:1

*Remuneration includes Salary drawn during 1.4.20 to 16.6.20 as Chief Operating Officers and President (C/A) & CFO.

* Benefits does not include payment of contribution to Provident Fund and superannuation fund, which is exempted perquisite under applicable provisions of the Companies Act, 2013

** ? 8,45,256 is Median, Ratio is calculated on remuneration 2020-21

Particulars about other Non-Executive Directors.

Remuneration Paid in ' % Increase in Remuneration from previous Year
Name Designation 2020-21 2019-20
1 Mrs. Sushila Devi Singhania Non-Executive Non-Independent 28,75,000 10,75,000 167.44
2. Mr. A. Karati Non-Executive Independent 14,50,000 13,00,000 11.54
3. Mr. J.N. Godbole Non-Executive Independent 15,50,000 13,75,000 12.73
4. Dr. K.B. Agarwal Non-Executive Independent 17,75,000 17,25,000 2.90
5. Mr. K.N. Khandelwal (Resigned w.e.f.17.06.2020 Non-Executive Non-Independent 75,000 15,50,000 -95.16
6. Mr. Sudhir Jalan Non-Executive Non-Independent 13,50,000 10,75,000 25.58
7. Mr. Suparas Bhandari Non-Executive Independent 15,00,000 14,50,000 3.45
8. Mr. Paul Heinz Hugentobler Non-Executive Non-Independent 1,22,99,529 1,19,46,000 2.96
9. Mrs. Deepa Gopalan Wadhwa Non-Executive Independent 14,25,000 12,25,000 16.33
10. Mr. Ashok Sinha Non-Executive Independent 13,75,000 12,00,000 14.58
11. Mr. Saurabh Chandra Non-Executive Independent 14,50,000 12,75,000 13.73
12. Mrs. Kavita Y Singhania (Joined on 31.08.20 and resigned w.e.f 20.01.2021) Non-Executive Non-Independent Director NIL NIL NA

14.3 Human Resources and Industrial Relations

The Company has structured induction process at all locations. Objective appraisal systems based on Key Result Areas (KRAs) are in place for Senior Management Personnel. The Corporate HR is effectively involved in nurturing, enhancing and retaining talent through job satisfaction, management development programme etc.

15. Significant and material order passed by the Regulator(s) or court(s)/matter of Emphasis

The Competition commission of India (CCI) vide its order dated 31.08.2016 imposed a penalty of Rs. 12,854 lacs on the Company. The Appeal was heard whereupon National Company Law Appellate Tribunal (NCLAT) vide order dated 25.07.2018 upheld CCI's order. The Company has filed statutory appeal before the Hon'ble Supreme Court, which vide its order dated 5.10.2018 has admitted the appeal and directed that the interim order of stay passed by the Tribunal in this matter will continue for the time being. The Company, backed by legal opinion, believes that it has a good case and accordingly no provision has been made in the Audited Annual Report of 2020-21.

In a separate matter, CCI imposed penalty of Rs. 928 lacs vide order dated 19.1.2017 for alleged contravention of provision of Competition Act, 2002 by the Company. On Company's appeal, NCLAT has stayed the operation of CCI's order.

The matter is pending for hearing before NCLAT. Based on Legal opinion, the Company believes that it has a good case and accordingly, no provision has been made in the Audited Annual Report of 2020-21.

Members' attention is drawn to the statement on contingent liabilities in the notes forming part of the Financial Statements.

16. Corporate Governance

A report on Corporate Governance along with the Practicing Company Secretary's Certificate on its compliance, forms an integral part of this Report.

17. Public Deposits

Your Company has not invited any deposit from public/ shareholders under Section 73 and 74 of the Companies Act, 2013.

18. Whistle Blower policy/vigil mechanism

The Company has a Whistle Blower Policy to report genuine concerns or grievances, if any. The Whistle Blower Policy has been posted on the website of the Company.

19. Mitigation of risk

The Company has been addressing various risks impacting the Company including details of significant changes in key financial ratios which is more fully provided in annexed Management Discussion and Analysis. As per the Listing Regulation Risk Management Committee for enforcing Risk Management Policy is in place by the Company.

19A.Commodity price risk/foreign exchange risk and hedging activities:

Your Company hedges its foreign currency exposure in respect of its imports and export receivables as per its laid down policies. Your Company uses a mix of various derivatives instruments like forward covers, currency swaps, interest rates swaps or a mix of all. Your Company does not have material exposure of any commodity and accordingly, no hedging activities for the same are carried out. Therefore, there is no disclosure to offer in terms of SEBI circular No. SEBI/HO/ CFD/CMD1/CIR/P/2018/0000000141 dated 15 November 2018.

20. Remuneration Policy

The Board of Directors and Nomination & Remuneration Committee follows a policy concerning remuneration of Directors, Key Managerial Personnel and Senior Management Personnel of the Company. The Policy also covers criteria for selection and appointment of Board Members and Senior Management Personnel and their remuneration. The Remuneration Policy is stated in the Corporate Governance Report.

21. Related Party Transactions

All the related party transactions are entered on arm's length basis, in the ordinary course of business and are in compliance with the applicable provisions of the Companies Act, 2013 and the Listing Regulations. There are no materially significant related party transactions made by the Company with Promoters, Directors or Key Managerial Personnel etc. which may have potential conflict with the interest of the Company at large or which warrants the approval of the shareholders. Accordingly, no transactions are being reported in Form AOC-2 in terms of Section 134 of the Act read with Rule 8 of the Companies (Accounts) Rules, 2014. However, the details of the transactions with Related Party are provided in the Company's financial statements in accordance with the IndAS. All Related Party Transactions are presented to the Audit Committee and the Board. Omnibus approval is obtained for the transactions which are foreseen and repetitive in nature. A statement of all related party transactions is presented before the Audit Committee on a quarterly basis, specifying the nature, value and terms and conditions of the transactions. The statement is supported by the certificate from the MD and the DMD & CFO. The Related Party Transactions Policy as approved by the Board stands uploaded on the Company's website at www.ikcement.com.

22. Auditors' Report

Your Company prepares its financial statements in compliance with the requirements of the Companies Act, 2013 and the Generally Accepted Accounting Principles (GAAP) in India. The financial statements have been prepared on historical cost basis (except items disclosed in significant accounting policies). The estimates and judgments relating to the financial statements are made on a prudent basis, so as to reflect a true and fair manner, the form and substance of transactions and reasonably present the Company's state of affairs, profits and cash flows for the year ended 31 March 2021. Auditors' Report to the shareholders does not contain any qualification in the standalone or in the consolidated financial statements for the year under report. However, Auditors have drawn attention of shareholders on penalty imposed by Competition Commission of India (CCI), the matter is adequately covered by Para 15 above read along with notes on accounts.

23. Internal Financial Controls and its Adequacy.

The Board has adopted policies and procedures for ensuring orderly and efficient conduct of its business including adherence to the Company's Policies, the safeguarding of its assets, the prevention and detection of Frauds and errors, the accuracy and completeness of the accounting records and the timely preparation of reliable financial disclosures. The Company's internal control system is commensurate with its size, scale and complexities of its operations. The Audit Committee of the Board of Directors actively reviews the adequacy and effectiveness of the internal control system and suggests improvements to strengthen the same. It also reviews the quarterly Internal Audit Reports.

24. Directors and Key Managerial Personnel.

24.1 In accordance with the provisions of Section 152 of Companies Act, 2013 and the Company's Articles of Association, Mr.Paul Heinz Hugentobler (DIN 000452691) will retire by rotation at the ensuing Annual General Meeting and being eligible, offers himself for reappointment.

All Independent Directors have given declaration that they meet the criteria of independence as laid down under Section 149(6) of the Companies Act, 2013 and Listing Regulation

24.2 Cessations

Mr. Kailash Nath Khandelwal resigned from the post of Director with effect from 17.06.2020 due to personal reasons.

Mrs. Kavita Y. Singhania was appointed as an Additional Director in the category of Non-Executive Non-Independent Director on

31.08.2020. She resigned from Directorship with effect from 20.01.2021 due to personal reasons.

24.3 Key Managerial Personnel

During the year under report, following Officials acted as Key Managerial Personnel:

Name of the Official Designation
1. Dr. Raghavpat Singhania (Appointed on 31.08.2020) Managing Director
2. Mr. Madhavkrishna Singhania (Appointed on 31.08.2020) Dy. Managing Director & CEO.
3. Mr. Ajay Kumar Saraogi (Appointed on 31.08.2020) Dy. Managing Director & CFO
4. Mr. Shambhu Singh Company Secretary

25. Meetings of the Board Of Directors

During the year 2020-21, 5 (five) Board Meetings were convened and held, the details of which are given in the Corporate Governance Report. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013.

26. Board Evaluation

Pursuant to the provisions of the Companies Act, 2013 and Regulation 17 of the Listing Regulations, the Board has carried out an annual performance evaluation of its Independent Directors and the Independent Directors also evaluated the performance of Non- Independent Directors. The Board of Directors expressed their satisfaction with the evaluation process. The Board of Directors also evaluated the functioning/performance of Audit Committee, Stakeholders Relationship Committee, Nomination & Remuneration Committee, CSR Committee, Committee of Directors and expressed satisfaction with their functioning/performance.

27. Directors' Responsibility Statement

Pursuant to Section 134(5) of the Companies Act, 2013 the Board of Directors to the best of their knowledge and ability confirm that:

i) In the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanations relating to material departures;

ii) The Directors have selected such accounting policies, judgments and estimates that are reasonable and prudent and applied them consistently, so as to give a true and fair view of the state of affairs of the company as on

31 March 2021, and of the statement of Profit and Loss and cash flow of the company for the period ended 31 March 2021;

iii) Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

iv) The annual accounts have been prepared on an ongoing concern basis;

v) Proper internal financial controls to be followed by the Company has been laid down and that such internal financial controls are adequate and were operating effectively and

vi) Proper systems to ensure compliance with the provisions of all applicable laws has been devised and that such systems were adequate and operating effectively.

28. Statutory Auditor

At the 23rd Annual General Meeting held on 29/07/2017, M/s S.R. Batliboi & Co. LLP, Chartered Accountants, (ICAI Firm Registration No. 301003E/ E300005) were appointed as the Statutory Auditors of the Company to hold office till the conclusion of 28th Annual General Meeting. The requirement for the annual ratification of auditors' appointment at the AGM has been omitted pursuant to Companies (Amendment) Act, 2017, notified on 7 May 2018.

The Auditors have confirmed that they are not disqualified from continuing as Auditors of the Company.

29. Cost Auditor

Pursuant to section 148 of the Companies Act, 2013 the Board of Directors on the recommendation of the Audit Committee appointed M/s K.G. Goyal & Company Cost Accountants, as the Cost Auditors of the company for the Financial Year 2021-22 and has recommended their remuneration to the Shareholders for ratification at the ensuing Annual General meeting. M/s K.G.Goyal & Company, have confirmed that their appointment is within the limits of the Section 139 of the Companies Act, 2013, and have also certified that they are free from any disqualifications specified under Section 141 of the Companies Act, 2013. The Audit Committee has also received a certificate from the Cost Auditor certifying their independence and arm's length relationship with the company. The Cost Audit Report for the financial year 2020-21 was filed with Ministry of Corporate Affairs.

30. Secretarial Audit

In terms of the provisions of Section 204 of the Act read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Board has appointed M/s. Reena Jakhodia & Associates, Kanpur, Company Secretaries in Practice, as the Secretarial Auditor for conducting Secretarial Audit of the Company for the Financial Year ended 31 March 2021. The report of the Secretarial Auditor is attached as Annexure A. The Secretarial Audit Report does not contain any qualification, reservation or adverse remark except as detailed in MR-3 annexed to this Report. The Company is in compliance with the Secretarial Standards, specified by the Institute of Company Secretaries of India ('ICSI').

31. Reporting of Fraud

The Auditors of the company have not reported any fraud committed to the Company as specified under Section 143(12) of the Companies Act, 2013. Further, no case of fraud on the Company has been reported to the Management from any other sources.

32. Compliance with Secretarial Standards on Board and Annual General Meetings

The Company has complied with Secretarial Standards issued by the Institute of Company Secretaries of India on Board Meetings and General Meetings.

33. Corporate Social Responsibility (CSR)

Corporate Social Responsibility is an integral part of the Company's ethos and policy and it has been pursuing this on a sustained basis. The Company assists in running of Schools at their Cement Plants, ITIs and Sir Padampat Singhania University, Udaipur imparting value-based education to students. Also, the Company played a constructive role in the infrastructural development of surrounding areas. During the period under report, the Company undertook various activities e.g.

Art, Culture, Community Welfare, Drinking Water, Sanitation, Education, Health, Rural Development, Eradicating Hunger/Poverty, COVID care. The Annual Report on CSR activities is annexed herewith as Annexure B.

34. Statutory Information

34.1 Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo.

Particulars with regard to conservation of Energy, Technology Absorption, Foreign Exchange Earnings and outgo in accordance with the provisions of Section 134 (3)(m) of the Companies Act 2013 read with Rule 8(3) of Companies (Accounts) Rules, 2014 in respect of Cement plants are annexed hereto as Annexure C and form part of the Report.

34.2 Annual Return

In terms of Section 92(3) of the Companies Act, 2013 and Rule 12 of the Companies (Management and Administration) Rules, 2014, the Annual Return of the Company is available on the website of the Company at the link: https://www.ikcement.com/ investors/ annual returns.

34.3 Business Responsibility Reporting

The Business Responsibility Report for the year ended 31 March 2021 as stipulated under regulation 34 of the Listing Regulations is annexed as Annexure D and forms part of the Annual Report.

34.4 Management Discussion & Analysis (MDA) Statement

The MDA as required under Listing Regulation is annexed hereto and forms an integral part of this Report.

35. Transfer to Investor Education and Protection Fund

During the year, the Company has transferred a sum of Rs. 21,05,831/- which represents unclaimed dividend and 11,585 Equity Shares which represents unclaimed shares to the Investor Education and Protection Fund in compliance with provisions of the Companies Act, 2013.

36. Disclosures under the companies act, 2013 and Listing Regulations

36.1 Composition of Audit Committee

The Board has constituted the Audit Committee which as on 31.03.21 comprises of Dr. K.B.Agarwal as the Chairman and Shri A. Karati, Shri J.N. Godbole, Shri Saurabh Chandra and Shri Ashok Sinha as members. More details about the committee are given in the Corporate Governance Report.

36.2 Policy on Sexual Harassment of women at workplace

The Company has zero tolerance towards sexual harassment at the workplace and towards this, has adopted a policy in line with the provisions of Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules framed thereunder. All employees (permanent contractual, temporary, trainees) are covered under the said policy. Internal Complaints Committee have also been set up at various locations to redress complaints received on sexual harassment. During the financial year under review, the Company has not received any complaint of sexual harassment from any of the women employees of the Company.

37.1 Independent Directors

The Company's Independent Directors have submitted requisite declarations confirming that they continue to meet the criteria of independence as prescribed under Section 149(6) of the Act and Regulation 16(1)(b) of the Listing Regulations. The Independent Directors have also confirmed that they have complied with Schedule IV of the Act and the Company's Code of Conduct. The Board is of the opinion that the Independent Directors of the Company possesses requisite qualifications, experience and expertise in the fields of finance, people management, strategy, auditing, tax and risk advisory services, infrastructure, banking, insurance, financial services, investments, cement industries, petroleum, foreign affairs and they hold highest standards of integrity. Regarding proficiency, the Company ensured inclusion of the names of all Independent Directors in the data bank maintained with the Indian Institute of Corporate Affairs, Manesar ('IICA'). The Independent Directors of the Company have registered themselves with the IICA for the said purpose. In terms of Section 150 of the Act read with Rule 6(4) of the Companies (Appointment & Qualification of Directors) Rules, 2014, the Independent Directors undertook online proficiency self-assessment test conducted by the IICA.

37.2 Familiarisation Programme for Independent Directors

The familiarisation program aims to provide Independent Directors with the cement industry scenario, the socio-economic environment in which the Company operates, the business model, the operational and financial performance of the Company, significant developments so as to enable them to take well informed decisions in a timely manner. The familiarisation program also seeks to update the Directors on the roles, responsibilities, rights and duties under the Act and other statutes.

38. Equal Opportunity by Employer

The Company has always provided a congenial atmosphere for work to all employees that is free from discrimination and harassment including sexual harassment. It has provided equal opportunities of employment to all irrespective of their caste, religion, color, marital status and sex.

39. Cautionary Statement

Statements in the Directors' Report and the Management Discussion and Analysis describing the company's objectives, expectations or predictions, may be forward looking within the meaning of applicable securities laws and regulations. Actual results may differ from those expressed in the statement. Important factors that could influence the company's operations include: global and domestic demand and supply conditions affecting selling prices, new capacity additions, availability of critical materials and their cost, changes in government policies and tax laws, economic development of the country, and other factors which are material to the business operations of the company.

40. Other Disclosure

No disclosure or reporting is made with respect to the following items, as there were no transactions during the year under review:

• Details relating to deposits that are covered under Chapter V of the Act.

• The issue of equity shares with differential rights as to dividend, voting or otherwise.

• The issue of shares to the employees of the Company under any scheme (sweat equity or stock options).

• There is no change in the Share Capital Structure during the year under review.

• The Company does not have any scheme or provision of money for the purchase of its own shares by employees or by trustees for the benefits of employees.

• Managing Director, Dy. Managing Director & CEO and Dy. Managing Director & CFO has not received any salary/perquisite from any of its subsidiaries.

• There was no revision in the financial statements.

• There was no change in the nature of business.

• There were no material changes and commitments affecting financial position of the Company between the end of the financial year and the date of this report.

41. Acknowledgements

Your Directors wish to place on record their appreciation for the valuable support received by your Company from Banks, Govt. of Rajasthan, Govt. of Karnataka, Govt. of Haryana, Government of Madhya Pradesh, Govt. of Uttar Pradesh,

Govt of Gujrat, Central Govt. and Government of Fujairah. The Board thanks the employees at all levels for their dedication, commitment and hard work put in by them for Company's achievements. Your Directors are grateful to the Shareholders/ Stakeholders for their confidence and faith reposed in Board.

For and on Behalf of the Board
Dr. Raghavpat Singhania Madhavkrishna Singhania
Managing Director Dy. Managing Director & CEO
DIN: 02426556 DIN:07022433
Place: Kanpur
Dated: 12 June 2021

   

J K Cements Ltd Company Background

Sushila Devi SinghaniaRaghavpat Singhania
Incorporation Year1994
Registered OfficeKamla Tower,
Kanpur,Uttar Pradesh-208001
Telephone91-512-2371478-81,Managing Director
Fax91-512-2332665/2399854
Company SecretaryShambhu Singh
AuditorS R Batliboi & Co LLP
Face Value10
Market Lot1
ListingBSE,MSEI ,NSE,
Registrar

J K Cements Ltd Company Management

Director NameDirector DesignationYear
Achintya Karati Non-Exec. & Independent Dir. 2021
J N Godbole Non-Exec. & Independent Dir. 2021
K B Agarwal Non-Exec. & Independent Dir. 2021
Suparas Bhandari Non-Exec. & Independent Dir. 2021
Shambhu Singh Company Secretary 2021
Paul Hugentobler Non-Exec & Non-Independent Dir 2021
Sushila Devi Singhania Chairperson 2021
Deepa Gopalan Wadhwa Non-Exec. & Independent Dir. 2021
Saurabh Chandra Non-Exec. & Independent Dir. 2021
Ashok Sinha Non-Exec. & Independent Dir. 2021
SUDHIR JALAN Non-Exec & Non-Independent Dir 2021
Raghavpat Singhania Managing Director 2021
Madhav Krishna Singhania Deputy Managing Director & CEO 2021
Ajay Kumar Saraogi Deputy Managing Director & CFO 2021
Nidhipati Singhania Vice Chairman 2021
Ajay Narayan Addtnl Non-Exe Dir &Indpnt Dir 2021
Satish Kumar Kalra Additional Director 2021
Mudit Aggarwal Additional Director 2021

J K Cements Ltd Listing Information

Listing Information
BSE_500
CNX500
BSESMALLCA
BSEALLCAP
BSEMETERIA
BSESMALLSE
MID150
LMI250
MSL400
NFTYLM250
NFTYMC150
NFTYMSC400
NF500M5025

J K Cements Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
SalesNA0005397.1319
Other Operating IncomeNA00066.6358
OthersNA0000
Portland CementMT0000
White CementMT0000

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