JK Cement hopes to end FY23 strongly riding on volume growth
JK Cement is optimistic about the future of the cement industry in India, and the company is taking steps to ensure its continued growth and success. With its strong position in the market and a clear focus on growth, JK Cement is poised to take advantage of the many opportunities that lie ahead.
JK Cement, one of the leading cement manufacturers in India, is optimistic about the future growth of the industry.
In a recent interview with CNBC-TV18, Rajnish Kapur, the COO of JK Cement, stated JK Cement is looking at a volume growth of 20 percent in the current financial year 2022-23, and they anticipate a close to 14-15 percent volume growth in the following year, 2023-24. The company is not too worried about the competition and is confident in its ability to maintain its market position.
“As a company we are looking at about 20 percent growth in volumes. We should be clocking close to 14 million tonnes in this year. Next year also we are very positive and we should get about 2 million tonnes of growth in next year,” he said.
Cement stocks have been gaining in trade since last week as reports suggest that cement companies have taken a price hike in the range of rupees 3 to 15 per bag across the country.
While there has been an attempt by cement companies to increase prices, Kapur believes that this is not a major cause for concern.
“There has been an attempt of price increase. In north, we can see about Rs 10 per bag of price increase has been taken but when we look at an average kind of a thing, by the time this month ends, I think we will be looking at Rs 7 per bag of price increase in north,” he said.
“In south, it is slightly more. Around Rs 10 per bag price increase can be seen in south as the month averages out,” he added.
In the south, the average price increase by the end of the month will be around Rs 10 per bag. However, in the north, while cement prices have increased by Rs 10 per bag, JK Cement plans to absorb Rs 7 per bag of the price hike, which will help the company maintain its competitive pricing.
Also Read | Cement stocks gain on price hike reports
Kapur also mentioned that the months of February and March are strong months for the company, and they expect growth to be substantial during this period.
“February and March are the peak months where we expect growth to be substantial,” he said.
The stock was up 6.81 percent in the last one week and 6.76 percent in the past month.
For more details, watch the accompanying video
(Edited by : Pradeep John)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Gonda Lok Sabha election: BJP's Kirti Vardhan Singh takes on Beni Prasad Verma's granddaughter Shreya
May 19, 2024 10:19 PM
Faizabad Lok Sabha election: Can Ayodhya Ram Temple strengthen BJP's stronghold here?
May 19, 2024 10:16 PM
Amethi Lok Sabha election: Can BJP's Smriti Irani retain the Congress bastion she won in 2019?
May 19, 2024 10:12 PM
Rae Bareli Lok Sabha Election: Can Rahul hold on to this Gandhi family bastion?
May 19, 2024 10:09 PM