JK Lakshmi Cement Limited — Investor Meet, 06-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

JK Lakshmi Cement's Q3 FY26 saw realizations decline 9% QoQ, primarily due to post-GST reduction sluggish demand and higher non-trade sales, particularly in Gujarat. Employee costs improved from productivity initiatives. Non-cement businesses generated 147 Cr revenue at a 4% EBITDA margin. Management anticipates improving prices, with non-trade prices already up and trade prices likely to follow due to rising demand and fuel costs, expecting double-digit Q4 demand growth. The Durg Line-2 expansion (3,000 Cr total, ~650-700 Cr in FY26) is progressing towards a March 2028 completion. The company is focused on increasing blended cement usage and enhancing non-cement margins. Management is confident in market recovery and strategic execution.