Non-trade (institutional) prices are rising, demand remains strong and costs are gradually rising, which together will support better realizations compared to the December quarter.
“So EBITDA (earnings before interest, taxes, depreciation and amortization) will be better because institutional prices have gone up, demand is better and costs are also going up. So I think it will be better than the Q3 realization,” he said.
Cement companies have reported an impact on sales due to softer cement prices due to the GST cut in their third quarter earnings reports.
When asked about Q4, Shukla said, “I see (Q4/FY’26) good because volume and demand are good. Since costs have increased, prices are also going up slowly. So Q4 will be better than Q3,” he said.
JK Lakhsmi Cement, which announced its results for the December quarter last week, reported a 6.11 percent increase in its operating revenue to Rs 1,588.40 crore. Sales volume increased by 8.24 percent to 3.28 million tonnes in the third quarter of FY26.
However, consolidated net profit fell 23.6 percent to Rs 57 crore year-on-year, due to the implementation of new labor laws.
“Overall, I see the industry growing at around 7 to 8 percent in FY26, and we will definitely grow higher than the sector,” Shukla said.
The company on Monday launched Green PRO LC3, one of the country’s first commercially available Limestone Calcined Clay Cement (LC3).
Green PRO LC3, which will be produced at the company’s integrated Jaykaypuram plant in Sirohi, Rajasthan, which according to JK Lakhsmi Cement has been developed to provide lower carbon intensity, enhanced sustainability and enhanced performance for large-scale infrastructure and high-exposure applications.
“It will be about Rs 30 to 35 rupees higher than the base product (per 50 kg bag),” he said.
Like other players, JK Lakhsmi Cement is also trying to increase its revenue and EBITDA through premium products. The company expects the contributions of its premium products, which are mainly sold through trade channels, to increase in the coming years.
“In the non-trade segment, premium products are not sold, and in the trade segment, we are one of the leaders,” he said, adding, “In the last quarter, premium products contributed 26 percent.” The allocation of Rs 20,000 crore for carbon capture, utilization and storage (CCUS) by the government in the proposed Union Budget for 2026-27, Shukla said, is in line with the government’s 2070 net zero target.
“We plan to be carbon net zero by 2047, and the launch of LC3 is a step in that direction,” he added.
Under expansion, Shukla said, JK Lakshmi Cement’s current capacity is 18 million tonnes per annum (MTPA) and it is working to have an installed cement capacity of 30 MTPA by 2030.
“We plan to enter the eastern region and the northern region and even expand in the western part. We have projects that are at different stages of progress,” he said.
JK Lakhsmi Cement is expanding the clinker capacity of its integrated cement plant at Durg in Chhattisgarh by setting up an additional clinker line of 2.3 MMTPA, four cement grinding units accounting for 4.6 MTPA at Durg in Chhattisgarh. In addition, three cement grinding units at different locations with a total cement grinding capacity of 3.4 MTPA at Prayagraj in UP, Madhubani in Bihar and Patratu in Jharkhand.
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