Cement company JK Cement announced its fourth quarter financial results today, May 12, 2024. The company posted 101 per cent increase in its consolidated net profit to ₹219.75 crore in quarter ending on March 31, 2024 as compared to ₹109.52 crore in the same period a year ago, in line with the street estimates.
The consolidated revenue from operations stood at ₹3,105.77 for the March quarter, surged over 11% as compared to ₹2,777.88 last year same period.
Also read: Q4 results so far: Revenue up 14.4%, bottomline surges 24.7%
The company further announced overall dividend at the rate of ₹20, which includes recommended dividend of ₹15 and special dividend of ₹5.
“Recommended Dividend at the rate of Rs.15 per equity share (i.e. 150%) and Special Dividend at the rate of Rs. 5 per equity share (i.e. 50%) marking the golden jubilee from commencement of grey cement production and 40 years from commencement of white cement production, taking overall dividend at the rate of Rs. 20 i.e. 200% per equity share of Rs. 10 each (fully paid up) for the Financial Year 2023-24 for the approval by the Shareholders at the 30th Annual General Meeting of the Company,” the company said in its exchange filing.
The record date of recommended dividend and special dividend has been fixed as July 10, 2024. However, the dividend would be paid to the shareholders on or before August 15, 2024.
“The Record date for the purpose of the Annual General Meeting and payment of dividend and special dividend is 10th July, 2024. The Dividend would be paid on or before 15th August, 2024,” the company added.
The 30th annual general meeting (AGM) of the company to discuss the fourth quarter earnings will be held on Friday the July 19, 2024 through permitted means.
JK Cement also announced merger of Acro Paints Limited (step down subsidiary of the company) with JK Maxx Paints Ltd (wholly owned subsidiary of the company), which is approved by the Regional Director (NR) on May 03, 2024.
The company further announced the board has approved the re-appointment of Nidhipati Singhania as Non Executive, Non-Independent Director, Raghavpat Singhania as Managing Director (MD) of the company for five years and Madhavkrishna Singhania as MD and CEO of the company for five years w.e.f June 17, 2025.
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Published: 12 May 2024, 04:08 PM IST
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