JK Cement emerges preferred bidder for 350-hectare limestone block in MP

JK Cement Ltd has been declared the preferred bidder for the Itauri-Jharkua limestone block in Panna, Madhya Pradesh.In an exchange filing dated Thursday, March 19, the company said it secured the status following its participation in an e-auction conducted by the Government of Madhya Pradesh.

The limestone block spans an area of around 350 hectares and will be allotted under a mining lease, subject to necessary approvals.
Also read: Stock Market Sell-Off: Five Nifty 50 stocks that are at a 52-week low todayThe development is expected to support the company’s raw material security for cement production.

For the December quarter, the cement manufacturer reported a 23% year-on-year fall in net profit to ₹57 crore from ₹74 crore. Revenue rose 6.3% YoY to ₹1,588 crore from ₹1,496 crore in Q3FY25.

EBITDA stood at ₹205.5 crore, rising 2.1% from ₹201.2 crore in the same quarter last year. EBITDA margin stood lower at 12.9%, compared with 13.4% in the year-ago period.

Shares of the company were trading 1.77% down at ₹5,016 as of 1.54 pm following the announcement. The stock has declined 26.90% in the last six months.