JK Lakshmi Cement Limited (JKLAKSHMI.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-26.0%

₹352.03

vs ₹475.65 price

Levered DCF

₹402.04

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

B-

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	16.81×	31.31×	22.03×	25.96×	12.06×	12.57×	9.3×	83.84×
P/B	1.78×	2.7×	3.26×	3.32×	2.23×	2.43×	1.37×	2.9×
P/S	1.02×	1.51×	1.53×	1.44×	1.03×	1.08×	0.53×	1×
EV / EBITDA	9.34×	12.94×	10.94×	12.33×	7.46×	6.9×	5.29×	12.6×
Gross margin	46.5%	45.5%	51.5%	50.4%	50.2%	53.4%	75.7%	73.2%
Operating margin	10.2%	9.1%	24.7%	9.6%	13.6%	15.2%	13.2%	5.6%
Net margin	6.1%	4.8%	7.0%	5.6%	8.6%	8.6%	5.7%	1.2%
Current ratio	1.29×	0.95×	0.9×	1.17×	1.14×	1×	0.74×	0.65×
Debt / equity	0.67×	0.75×	0.65×	0.67×	0.75×	0.8×	1.19×	1.44×
Interest coverage	3.26×	3.12×	11.13×	4.66×	5.18×	3.75×	2.57×	0.96×
Dividend yield	1.1%	0.6%	0.6%	0.6%	0.8%	0.0%	2.0%	0.3%
Payout ratio	18.6%	17.8%	14.3%	16.4%	9.6%	0.1%	18.3%	21.7%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	10.6%	8.6%	14.8%	12.8%	18.5%	19.4%	14.7%	3.5%
Return on invested capital	6.9%	5.7%	18.3%	8.2%	11.7%	13.0%	9.7%	4.9%
Return on assets	4.8%	3.5%	6.2%	5.5%	7.8%	7.7%	4.8%	1.0%
Free cash flow yield	2.6%	-0.3%	-1.1%	-1.1%	5.5%	14.6%	23.6%	12.9%
Earnings yield	5.9%	3.2%	4.5%	3.9%	8.3%	8.0%	10.8%	1.2%
Enterprise value	₹94.4B	₹117.9B	₹123.5B	₹110.5B	₹74B	₹67.2B	₹43B	₹64.3B
Net debt / EBITDA	2.49×	2.65×	1.73×	1.94×	1.83×	1.67×	2.45×	4.18×
Cash conversion cycle (days)	24	51	51	34	34	1	3	-51