JK Lakshmi Cement Ltd

Litigation details

• Writ petition filed in Gauhati High Court against JK Lakshmi Cement and Mahabal Cement over land allotment.
• Dispute concerns about land of approximately 3,000 Bighas in Dima Hasao district.
• Land more specifically allotted to AMDCL, JK Lakshmi Cement and Mahabal Cement.
• Notice received on 30 July 2026; writ petition filed against Union of India and others.
• Estimated financial impact: ₹103.16 Crores as land cost and related expenditures.
• Quantum of claims stated as Nil.

AGM details & outcome

• AGM held on 30 July 2026 at 2:30 PM IST via VC/OAVM.
• Cut-off date for e-voting eligibility was 23 July 2026.
• Remote and AGM e-voting combined results were consolidated; resolutions passed with requisite majority.

AGM Details

• 86th AGM held on 30 July 2026 at 2:30 PM via Video Conference/OAVM.
• Quorum present through VC; meeting chaired by Chairperson.

Resolutions

• Ordinary: Adoption of audited standalone and consolidated financial statements and reports.
• Ordinary: Dividend of ₹6.50 per equity share (130%).
• Ordinary: Re-appointment of Dr. Arun Kumar Shukla who retires by rotation.
• Ordinary: Ratification of remuneration of Cost Auditor for FY2026-27.
• Special: Re-appointment of Vinita Singhania as Chairperson and Managing Director for five years from 1 Aug 2026.

Meeting Details

• Date and time: 6 August 2026 at 4:00 PM IST.
• Mode: virtual conference call; organized by PhillipCapital (India) Private Limited.
• Event: Q1 FY27 earnings call for quarter ended 30 June 2026.
• Time zones: 4:00 PM IST; 6:30 PM SGT/HK; 11:30 AM UK.
• Recording: proceedings will be recorded.

Participants

• Key company participants: President & Director; ED (Corporate Affairs) & CFO.

Purpose

• Purpose: discuss Q1 FY27 unaudited results.

Additional Notes

• Pre-registration with DiamondPass; call leader Vaibhav Agarwal.

Board meeting rescheduled

• Original meeting date: 29 July 2026.
• New date: 5 August 2026.
• Agenda: approve unaudited results for Q1 ended 30 June 2026 (standalone and consolidated).
• Reason: unavoidable circumstances.
• Trading window: closed since 1 July 2026; reopens 8 August 2026.

IiAS VMS clarification for AGM 30-Jul-2026

• Purpose: file clarification/representation to IiAS on the proxy advisory report.
• AGM notice dated 2 July 2026; AGM scheduled for 30 July 2026.
• Promoter group corrected: Dwarkesh Energy Limited is promoter group entity, not a promoter.
• JK Lakshmi Cement has a single promoter: Bengal & Assam Company Limited.
• Remuneration figures corrected: Shukla ₹68.4m; Singhania ₹68.4m; Bhandari ₹0.8m.
• There is no absolute cap on dividend payout.
• No basis for an absolute cap on variable pay for promoter directors.
• IiAS may release addendum reflecting these clarifications.

Dematerialisation status

• Registrar and transfer agent processed dematerialisation requests and listed dematerialised securities on exchanges.
• Physical certificates were mutilated and cancelled with the depository substituted as registered owner.
• Actions completed within the prescribed timeline from receipt of securities.

Overview

• Standalone BRSR for FY2025-26; cement manufacturing with 3 integrated plants and 4 grinding units.
• Turnover ₹6,879 crore; serves 20 states; 1,590 employees and 3,360 workers.
• Assurance on core BRSR indicators provided by Bureau Veritas (India), limited assurance.

Key ESG Risks & Opportunities

• High energy intensity and process emissions pose transition/regulatory risks with efficiency opportunities.
• Regulatory and supply disruptions risk; mitigated by energy efficiency, AFR use, and low-carbon cement.
• Cybersecurity and data privacy risks addressed via governance frameworks and incident response planning.
• Human rights and governance risks mitigated by policies, whistleblower mechanisms, and board oversight.
• Sustainable product development and CSR initiatives may boost investor confidence and compliance.

Governance & Policy Highlights

• CSR & Sustainability Committee oversees ESG; policy approvals and governance structures.
• Board-approved policies include anti-bribery, whistleblower, and human rights; policies linked on ESG site.
• Limited assurance on core indicators; Scope 1/2 assurance under ISO 14064-1.
• No external assessment undertaken in FY2025-26; internal policy reviews and governance ongoing.
• EPR compliance for plastics; 2024-25 targets achieved; 2025-26 targets defined.

Social Responsibility & Workforce

• Total employees 1,590; permanent 1,544 with 97% male, 3% female.
• Total workers 3,360; 92.98% male, 7.02% female.
• Board female representation 37.5%; KMP female 20%.
• LTIFR: employees 0.59; workers 0.11; one worker fatality.
• Well-being spend 0.15% of revenue; 100% PF, gratuity, and ESI coverage.
• CSR focus areas include health, education, livelihoods, water, and skills development; Sirohi CSR spend ~₹1.15 crore.

Environmental Performance

• Total energy: 33,493,903 GJ; renewable 1,243,619 GJ; non-renewable 32,250,348 GJ.
• Energy intensity: 0.000487 GJ per rupee turnover; 2.55 GJ/ton cementitious product.
• Scope 1 emissions 7,764,061 tCO2e; Scope 2 emissions 231,140 tCO2e.
• Total Scope 1+2 intensity 0.1162 KgCO2e per rupee turnover; 609 KgCO2e/ton cement.
• Scope 3 emissions 554,714 t; 0.0081 KgCO2e/turnover; 42.29 KgCO2e/tonne cement.
• Water withdrawals 1,515,715 kl; consumption 1,235,384 kl; 100% recycled after treatment.
• Zero Liquid Discharge status; STPs/ETPs; effluent reused for cooling and irrigation.
• AFR usage 22.70% of input materials; 3Rs waste management; HDPE packaging recycling via CPCB recyclers.

Stakeholder Engagement & Complaints

• Stakeholders include employees, customers, communities, suppliers, investors, and media; engagement channels vary by group.
• Material topics identified via materiality reviews; CSR and ESG priorities aligned to stakeholder inputs.
• Engagement with vulnerable groups through CSR; community dialogue for livelihoods, water, health, and education.
• Complaints: shareholders 30 cases in FY2025-26; customers 4; influencers 680.
• CSR governance includes regular board-level oversight and CSR team for stakeholder grievance redressal.

Other Notable Metrics

• Direct input from MSMEs/indigenous suppliers 14.59%; 64.76% sourced from within India.
• No product recalls reported; BIS packaging information and safety guidance shared with customers.
• Data privacy: zero data breaches; cyber security policy available at the company site.
• Public policy engagement covers climate action, circularity, and low-carbon cement initiatives.
• Waste management emphasizes recycling and reuse; ZLD status supported by STPs/ETP and effluent reuse.
• PAT/CCTS framework and environmental certifications (ISO series) underpin operational improvements.

Financial performance

• Revenue from operations: 6,762.63 crore.

Profitability

• Profit after tax: 412.61 crore.

Earnings per share

• EPS (basic/diluted): 33.19.

Dividends

• Consolidated dividend proposed: 6.50 per share.

Dividend timing

• Record date for dividend: 17 July 2026.

Corporate actions

• Composite Scheme of Amalgamation completed; UCWL, HITCL, HDIL merged into JKLC.

Subsidiaries & stake

• NECEM Cements Ltd stake: 77.96%.

Capital structure

• Authorized share capital increased to 721.51 crore.

Liquidity

• Net debt: 1,261.45 crore.