JK Lakshmi Cement’s Q2FY22 results below estimates

News: JK Lashmi cement’s revenue for Q2FY22 grew 7% YoY to Rs.1118.2 crore, while EBITDA and PAT were down by 12.9% YoY and 5% YoY respectively.

Views: While company’s volume got impacted due to transporters strike in the Chhattisgarh, a rise in the cost across verticals led to margin contraction of over 333 bps YoY to 14.5% that was lower than our estimated EBITDA margin of 16.3%.