website :www.jkcement.com lD"

phone : +91-512-23714781o81 Fax (Office) i +91-512'2399854 Telefax (Direct) i +91 -512-2332665 E-mail : [email protected]

Registered Office : Kamla Tower, Kanpur-2O8 001 (U.P.) INDIA

CIN : L17229UP1 994P1C017199 ISO 9001:2000 & ISO 14001 CERTIFIED COMPANY

IKCLI 3s I SEI 2021 -22 (BM-3 /2 I )

l2h Jrne,202I

The Bombay Stock Exchange Ltd.	National Stock Exchange of India Ltd.o
Corporate Relationship Department	Exchange Plaza, Bandra Kurla Complexo
Phiroze Jeejeebhoy Towers,	Bandra (E), Mumbai-400051
Dalal Street, Fort, Mumbai-400001	Scrip Code: JKCEMENT (ISIN.INE
Scrip Code :532644 (ISIN.INE 823G01014)	823G01014)
Throush BSE Listing Centre	Throush : NEAPS

Dear Sir(s)'

outcome of the Board Meeting

Pursuant to the applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, i015 ('Listing Regulations'), T. wish to inform you that the Board of Directors of the Company in their Board Meeting held today has interalia: -

1. Considered, approved and taken on record the audited standalone financial results for the quarter arrdyear ended 31$ March, 2021 andconsolidated financial result for year enOed 31.t Mar;h, 2021. Accordingly, pursuant to Regulation 33 of S_EBI (Listing Obligations and fisclosure RequirJments) Regrrlations, 2015 (Listing Regulations), we eiclose herewith aforesaid Results along with Auditors' Report. A copy of the above is uploaded in the Company's website www.jkcement'com and also filed/uploaded on website of BSE and NSE.
1. Recommended Dividend at the rate of Rs.15per equlty share (i.e' 150%) of Rs' 10 each (firlly paid up) for the Financial year zozo-zt for the approval by the Shareholders at the 27th Annual General Meeting of the Company.
1. Decided that the Register of Members and Shari Transfer Books of the Company will remain closed from ihursday the 5th August, 2021to Saturday 14th August,-2021 (both days inclusive) for the purpose of Payment of Dividentand Annual General Meeting'
1. Decided ttrat the 27ur^ fupual General Meeting of the Company will be held on Saturday the t+,h August, 2021 througlr Video Conferencing or Other Audio Visual Means.
to raise fund from the date for the approval ofShareholders resolution resolution n 27fr Annual General Meeting till one year by issue of 5. Recommended of passing of secured/redeemable non-convertible debentures in one of more series/tranches on private placement basis for an amount upto Rs. 500 crores at an interest rate that will be determined by the prevailing money market conditions at the time of borrowing.
1. Analyze the reque st received from certain individual/Company belonging to Promoter Group seeking reclassifi cation of their shareholding in JK Cement Ltd from Promoter Public Category and decided to recommend to the Shareholders for Group Category to passing in the 27e Annual General Meeting and matters arising out of or connected therewith. $rfa^^^r

J.K. Cement Works, Nimbahera J.K. Gement Works, Mangrol UNITS: J.K. Gement Works, Gotan J.K. Cement Works, MuddaPur J.K. Gement Works, Aligarh

J.K. Cement Works, Jharli J.K. White Gement Works, Gotan J.K. White, Katni J,K. Power, Bamania

J.K. Gement Workd, Balasinor

phone i +91-512-2371478to81 Fax(Office) t+91-512-2399854 Telefax (Direct) : +91 -512-2332665 E-mail : [email protected]

Kamla Tower, Kanpur-208 001 (U.P.) INDIA

CIN : L17 229U P 1 994PLC0 17 1 99 ISO 9001:2000 & ISO 14001 CERTIFIED COMPANY

.4.

1. Considered and recommended to ttre Shareholders amendment of Article 91, 101 and 108of the Articles of Association of the Company in terms of succession planning of Late Chainnan and Managing Director Shri Yadupati Singhania etc and smooth frurctioning of the ComPany.
9 Considered and approved the amalgamation of Jaykaycem (Central) Ltd, wholly owned subsidiary bf tfte Company, with JK Cement Ltd and their respective shareholders and creditors wittr ttre effective date from 1.4.2021 and further empowered the Commiuee of Directors to do all acts, deeds, matters and things in this regard.

The meeting commenced at 12.30 P.M. and concluded at 3:30 P.M.

Kindly take anote of the same and inform the Members accordingly

Yours faithfirlly, For J.IC Cement Ltd.,

P,Yt*,F

(Shambhu Singh) Vice President (Legal) & Company Secretary FCS 5836

Encl: As above

J.K. Cement Works, Nimbahera J.K. Cement Works, Mangrol J.K. Cement Works, Gotan J.K. Cement Works, MuddaPur J.K. Cement Works, Aligarh UNITS

J.K. Gement Works, Jharli J.K. White Cement Works, Gotan J.K. White, Katni J.K. Power, Bamania

J.K. Cement Workd, Balasinor

CIN: L17229UP1994PLC017199 Registered & Corporate Office : Kamla Tower, Kanpur -208001 (U.P.) Ph.: +91 512 2371478 to 81; Fax: +91 512 2399854/ 2332665; website: www.jkcement.com ; e-mail: [email protected]

STATEMENT OF STANDALONE AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2021

Year Ended					(र in Lacs)
			Three Months Ended
SI.No.	Particulars	31.03.2021(Refer Note 4)	31.12.2020	31.03.2020(Refer Note 4)	31.03.2021	31.03.2020
		Audited	Unaudited	Audited	Audited	Audited
	I Revenue from operations	205, 247.36	176.010.60	147.741.19	632,827.88	546,376.77
	II Other Income	3.404.15	3,030.02	2,706.05	11,335.70	8,588.49
	III Total Income (I+II)	208,651.51	179,040.62	150,447.24	644,163.58	554,965.26
	IV Expenses
	a) Cost of materials consumed	30,432.42	29,118.17	22,196.38	96,516,90	87,199.18
	(b) Purchase of traded goods	2.099.00	1,705.92	1,654.73	6.640.20	5,954.79
	c) Changes in inventories of finished Goods, work in progress and stock in trade	1.750.00	(4, 186.81)	(2,979.79)	1,947.29	(6,653.49)
	d) Employee benefits expense	10,966.26	10,982.30	9,872.17	41,213.84	39,090.42
	e) Finance costs	5.292.84	5,934.80	5,716.39	22,316.20	22.286.71
	f) Depreciation and amortisation expense	6.488.30	6,215.47	5,766.20	24,467.71	21,438.87
	g) Power and fuel	35,369.93	32.423.34	27,003.09	110,359.84	101,153.50
	h) Freight and forwarding	42,074.21	34,837.28	28,184.15	123,983.15	103.205.88
	i) Other expenses	38.645.81	26,245.76	27.184.43	100,777.30	98,273.19
	Total Expenses (a to i)	173,118.77	143,276.23	124,597.75	528,222.43	471,949.05
	V Profit before exceptional items and tax (III-IV)	35,532.74	35,764.39	25,849.49	115,941.15	83,016.21
		16,686.50		17,815.00	16.686.50	17,815.00
	VI Exceptional Items (Refer Note 8)	18,846.24	35,764.39	8,034.49	99,254.65	65,201.21
	VII Profit before tax (V-VI)	8,787.78	10,765.68	2,474.70	30,755.78	17,123.87
	a) Current Tax	1,521.00	1,171.29	5,585.95	6,013.23	9,229.80
	b) Deferred Tax	2.203.06		(48.86)	2,203.06	(1, 190.05)
	c) Earlier Years Tax Adjustments	12,511.84	11,936.97	8,011.79	38,972.07	25,163.62
	VIII Total Tax Expense	6,334.40	23,827.42	22.70	60,282.58	40,037.59
	IX Profit after tax (VII-VIII)
	Other Comprehensive Income /(Loss)Items that will not be reclassified to profit and loss in subsequent period, net of tax	232.23	(31.92)	(192.63)	136.47	(126.85)
		232.23	(31.92)	(192.63)	136.47	(126.85)
	Other Comprehensive Income /(Loss) for the period, net of tax	6,566.63	23,795.50	(169.93)	60,419.05	39,910.74
	XI Total Comprehensive Income/(Loss) for the period, net of tax (IX+X)	7,726.83	7,726.83	7,726.83	7,726.83	7,726.83
	XII Paid-up Equity Share Capital
	(Face value of ₹ 10/- per share)	$\blacksquare$	$\bullet$		365,582.03	305,162.98
	XIII Other Equity (Excluding Revaluation Reserves)XIV Basic and Diluted Earnings Per Share(of ₹10/-each)	8.20	30.84	0.03	78.02	51.82
	(Not Annualized except year ended)

Cont.

Notes:

$\bar{z}$

$\sim$

$\bar{\beta}$

$\hat{\boldsymbol{\cdot} }$

Year EndedYear EndedS 1Particulars31.03.202031.03.2021No.(Audited)(Audited)ASSETSNon-Current Assets$\overline{1}$430,273.20463,115.32Property, plant and equipment50,920.0048,852.54Capital work-in-progress1,304.042,789.50Intangible assets14.986.55Right-of-use assetsFinancial assets:56,521.3571,875.49(i) Investments8,876.12(ii) Other financial assets12,567.718.789.93Other non-current assets573,959.48619,285.45Total non current assetsCurrent assets$\mathbf{2}$62,716.5768,666.18InventoriesFinancial assets:103.458,824.97(i) Investments22.344.7431,608.92(ii) Trade Receivables3,613.188,385.87(iii) Cash and cash equivalents59,499.71107,791.75(iv) Bank Balances other than (iii) above55,566.36(v) Other financial assets870.09Current tax assets (net)16,213.2816,763.37Other current assets211,548.64297,607.42Total current assets785,508.12916,892.87Total AssetsEQUITY AND LIABILITIESEquity$\blacktriangleleft$7.726.837,726.83Equity share capital305,162.98365.582.03Other equity312,889.81373,308.86Total equityNon-Current Liabilities$\mathbf{2}$Financial Liabilities:267,197.34(i) Borrowings1,343.37(ii) Lease Liabilities27,370.7931,077.40(iii) Other Financial Liabilities4,191.53Provisions41,810.9259,394.24Deferred tax liabilities (net)7,812.077.820.63Other non current liabilities310,660.33371,024.51Total non current liabilitiesCurrent liabilities3Financial liabilities:13,884.7011,509.10(i) Borrowings369.63519.14(ii) Lease liabilities(iii)Trade payables2,159.746,166.70a) Total outstanding dues of micro enterprises and small enterprises48,828.56b) Total outstanding dues of creditors other than micro enterprises and small enterprises40,882.14(iii) Other financial liabilities55.254.14Other current liabilities8,472.10Provisions927.62161,957.98Current tax liabilities (net)172,559.50Total current liabilities785,508.12916,892.87	1 Statement of Assets and Liabilities :	(र in Lacs)






		15,231.96


		7,141.22








		46,187.62










		228,391.49
		1,236.80

		4,038.26








		43,103.90
		55,396.64
		35,973.81
		11,069.56


Total Equity and Liabilities		Cont.

Cont.

$\sim$

$\bar{z}$

$\ddot{\cdot}$

2 Statement of Cash flow:

$\mathcal{L}^{\text{max}}_{\text{max}}$

$\ddot{\phantom{a}}$

2	Statement of Cash flow:		(7 in Lacs)
		Year Ended	Year Ended
SI.
No.	Particularsme pr	31.03.2021(Audited)	31.03.2020(Audited)

A	Cash Flow from Operating Activities
	Net Profit before tax	99,254.65	65,201.21
	Adjustment for :-
	Depreciation & amortization expenses	24,467.71	21,438.87
	Loss on the sale of property, plant & equipment/ Impairment	4,565.08	3,169.38
	Diminution in the value of investment in subsidiary	16.686.50	17,815.0021,850.29
	Interest paid	22.065.30(8, 299.32)	(5,695.23)
	Interest received	325.00
	Bad Debts / Loans and AdvancesProvision for doubtful debts / loans and advances	120.26	171.14
	Net fair value gain on financial assets measured at fair value through profit or loss	(218.93)	(845.38)
	Movement in Government grant	6.52	(846.41)
	Mines restoration charges	124.81	65.44
	Operating Profit Before Working Capital Changes	159,097.58	.122,324.31
	Working capital adjustments :-
	Increase in trade payables	9,731.62	4,527.73
	Increase in other financial liabilities	7,626.19	8,296.05944.63
	Increase in other liabilities	19,282.37(2,432.53)	1,930.09
	Increase / (Decrease) in provisions	(5,949.61)	(6.929.60)
	(Increase) in Inventories	(9.709.44)	(2, 294.24)
	(Increase) in trade receivables	(1,942.11)	(3, 298.36)
	(Increase) in other financial assets	487.83	(328.34)
	Decrease/(Increase) in Other assets	176,191.90	125,172.27
	Cash Generated From Operations	(19, 591.04)	(15, 291.34)
	Less : Income Tax Paid (inclusive of tax deducted at source)	156,600.86	109,880.93
	Net Cash flow From operating activities
в	Cash Used in Investing Activities	99,067.43	34,231.29
	Proceed from maturity of fixed deposit	(155, 895.50)	(100, 623.00)
	Investment in Fixed DepositsAcquisition/Purchase of property, plant & equipment	(62, 356.67)	(98, 895.94)
		867.40	758.33
	Sale of property, plant & equipmentNet Investments in Subsidiaries/Associates	(15, 507.72)	(9,610.71)
	Investment in Equity, Mutual funds & Bonds other than in Subsidiaries/Associates	(71, 422.80)	(48, 199.99)
	Sale of Investment	46,638.70	86,777.87
	Interest received	7,412.41	4,427.77
	Net Cash Used In Investing Activities	(151, 196.75)	(131, 134.38)
C	Cash used in Financing Activities	58,500.00	68,300.00
	Proceeds from long term borrowings	(34, 672.82)	(25,519.23)
	Repayment of long term borrowings	(2,375.60)	(2,096.98)
	Repayment of short term borrowings	744.63	282.51
	Proceeds from VAT Loans	(231.01)	(527.76)
	Repayment of deferred sales Tax	60.24	(282.87)
	Proceeds /(Repayment) from vehicle loans	(513.24)	(338.43)
	Payment towards principal portion of lease liabilities	(137.16)	(136.26)
	Interest paid on lease liabilities	(21, 973.49)	(22, 290.02)
	Interest Expense Paid	(32.97)	(16, 266.55)
	Dividend paid (including dividend distribution tax)	(631.42)	1,124.41
	Net Cash Used in Financing Activities (A+B+C)	4,772.69	(20, 129.04)
	Net increase/(Decrease) in Cash and Cash Equivalents	3,613.18	23,742.22
	Cash and Cash Equivalents at the beginning of the year	8,385.87	3,613.18
	Cash and Cash Equivalents at the end of the year	4,772.69	(20, 129.04)

$\frac{1}{2}$

$\mathcal{A}^{\text{max}}$

$\sim$

Note6:

3 These standalone financial results have been prepared in accordance with recognition and measurement principles of lndian Accounting Standards (lnd-AS) as p,ririiu.o under section rsC of companies Rlt zbt3 reao wittr Rule 3 of the companies (lndian Accounting Standards) Rules 2015, as amended'
4 The above audited standalone financial results of the company for the quarter & year ended March 31, 2021 have been reviewed by lhe Audit cgmmittee and ,pp.uro ny tne Board of Direciors at their meering hed d Ju;e 12,zriz1 nefrgures for the last quarters are the balancing figures of the full financial year anb unauOiieO published figures upto the third quarters of the respective financial years'
5 The Company is engaged in one business segment only i'e. cement and cement related products'
6(i) "CompetitionCommissionoflndia(CCl)"videitsorderdated.August3l,2016imposed_apenaltyoft12,854 lacsontheCompany.Theappealwasheard whereupon Nationat company tJw- npfemte rriuunal (NCLAT) iide order dated iuly 25, 2018 upheld ccl's order, The company has filed statutory appeal before the Hon,ble supreme 6ourt which vide its ordeidated october 5, 2018 has admitted the appeal and directed that the interim order of stay passed by the tribunal in this matter will continue for the time being. The company, backed by legal opinion, believes that it has a good case and accordingly no provision has been considered in the books of acounts.
6(ll) ln a separate matter, ccl imposed penalty of t 928lac.s vide order dated January 19, 2017 for alleged contravention of provisions of competition Act, 2002 by -' ' ir,. Coi|'p,n,,. on company'! appe.l, ruclAt nm .tryed the operation of ccl's order,.The mafter is pending for hearing before NCLAT' The company' i.rf.O dy frga opinlon, Uetieves it nas a good case and accordingly no provision has been considered ln the books of accounts'
7 The Government of lndia on september 20 201g, vide the Taxation Laws (Amendment) ordinance 2019, inserted a new section 1158AA in the lncometax Act, 1g61, which proviaes oomJstic companies a non-reversible option to iay corporate tax at reduced rates effective, April 1 2019, subJect to certain conditions. The Company is continuing to provide for income tax at old ratbs, coniidering available unutilised minimum alternative tax credit and other tax benefits/holidaYs.
g J.K. Cement works (Fujairah) FZC is incuning losses for the past several years since its incorporation and its net worth has been signilicantly eroded' Furlher its linancial performance, including estimates of future cash flows and earnings, is significantly affected by the direct or indirect impacts of recent and ongoing covid-19. During the quarter and-year ended March 31, 2021, based on business valuation of J.K. cement wotks (Fujahah) FZC (subsidiary of J'K' cement (Fujakah) FZC) by an inoependent external valuer, the company had recognised provislon towards diminution of carrying amount of investment in J'K' cement (Fujairah) FZC of ( 16,6g6.50 lacs (31st March 2020 : t 16,151 lacs). Additionally, the company had also provided for outstanding receivable from earlier years from J.K. cement (Fujahah) FZC amounting to Nil (31st March 2020 : t 1,664 lacs). The total amount of t 16.686'50 lacs (31st March 2020 : t 17,g,15 lacs) is disclosed as an exceptional item in the audited financial results for the quarter and year ended March 31' 2021'
g 0n aicount of outbreak of covid-19 pandemic and consequent lockdown imposed by the Government, the manufacturing facilities of the company were temporarily shut down during the start of the current year, inesr t ririti.t *rre openld in a phased manner in lhe months of April and May 2020 as the lockdown conditjons were relaxed. Accordingly, sales volume of the cunent year is inipacte4 altliough cement demand has been.progressively recovering over the year w1h improved prices. Rs at ttre yeai !nd, the country irlgrir *itr,itring surge in covid-19 cases refened to as second wave of pandemic' Although' the Government of lndia has ruled out a nationwide lockdown ur oi nor, foof anO reiionat lockdowns / restrictions are implemented in certain areas' ln lhese circumstances, safety of our employees continues to ne our iey prioinrt'runn", in vLw.of such highly uncertain economic envhonment whidl is continuously evolving, the company nas conliJJreo fire possible effecls m.l il.i rlourt trom covid-19 pandemic in the preparation of lhese linancial results induding the recoverability of carrying urouns of financial and non-Rnanciat assets. The company has used internal and external sources of information for such assessment at the date.t.pi.rrr oi in.r, nnanri.r t rurs-rno oo.t not anticlpateany challenge in the Company's ability to continue as a going concern' The impact of pandemic on'rhe company,s financlal results r. ti"qr..ip.rioos b nighly deiendent on lhe situations as lhey evolve, and lhe eventual irp..i 'r-.i Oiffer from that estimated as ai the date of approval of these financial results'
10 The lndian parliament has approved the code on social security, 2020 which would impact the contributions by lhe company towards Provident Fund and Gratuity. The uinistry ot t-aul'ur anJ imployment nas ,rr.aseJ liatrures for the code on social security, 2020 on November 11,2020' and has lnvited suggestions from starenoroerc wt icr' aie unorr artiu. conrio."tion uvitr. rr,rinistry. The company will aisess the impact and its valuation once the subject rules are notified and will give appropriate impact in its nnanciai siailniens in tn. irtioo in rhich, the code becomes effective and the related rules to determine the linancial impact are published'
11 Under lhe sabka Vishwas (Legacy Dispute Resolution) scheme 2019, announced by the Government of lndia, the company has recognised a one'time rip.r* of t 2150.a8 Lacs alainst virious disputed iiabitities of income tax pertaining to earlier years'
12Additional disclosures as per Regulation 52(4) of securities and Exchange Board of lndia (Llsting obligations and Disclosure Requirements Regulations' 2015):

Particulars	Year Ended3',1.03.2021	Year Ended31,03.2020
Ratio(a)Debt	0.77	0.84

h.	Particulars of Non Convertible Debentures (NCD)	Previous due datefor payment ofInterest	Previous duedate forpayment ofPrincipal	payment of Interest on NCD's	Next due date & Amount for		Next due date & Amount forpayment of Principal on NCD's
	INE823G07052-dt.02.11.2010-10.5%-QrtlyINE823G07060-dt.01.01.2011-11%-YrlyINE823G07078-dt.24.01.2011-11%-YrlyINE823G07086-dt.05.02.2011-11%-YrlyINE823G07102-dt.28.03.2011-11%-YrlyINE823G07128-dt.02.08.2013-10.5%-Hlf.YrlyINE823G07136-dt.08.08.2013-10.5%-QrtlyINE823G07144-dt.13.09.2013-11%-HIf.YrlyINE823G07151-dt.01.10.2013-11%-QrtlyINE823G07185-dt.01.10.2013-10.5%-QrtlyINE823G07169 #-dt.09.10.2013-11%-QrtlyINE823G07177-dt.09.10.2013-11%-Hif.YrlyINE823G07193-dt.06.05.2015-9.65%-Qrtly	02-11-2001-01-2124-01-2105-02-2128-03-2102-02-2108-02-2113-03-2101-01-21$01-01-21$09-01-2109-10-2006-02-2122-01-21	02-11-2001-01-2124 01 - 2105-02-2128-03-2102-08-2008-08-2013-09-2001-10-20$01 - 10 - 20$09-10-2009-10-20$A_{\mathbb{A}}$	$x^{x^2}$02-08-2108-05-2113-09-2101-04-2101-04-2109-04-2109-04-2106-05-2123-07-21	104.1440.96155.2754.2541.42108.4921.94235.30917.48	$\mathscr{H}$02-08-2108-08-2113-09-21$01-10-21$$01-10-21$09-10-2109-10-2106-05-2222-07-22	500.00400.00700.00500.00400.001.000.00100.002.000.005,000.00
	INE823G07201-dt.23.07.2020-7.36%-Hlf. Yrly				1.679.25		10,600.00

	Year Ended 31,03.2021	Year Ended 31.03.2020
Debt Service Coverage Ratio(c)Interest Service Coverage Ratio(d)Debenture Redemption Reserve (₹ In lacs)(e)Net Worth (₹ In lacs)(f)Net Profit after Tax (₹ In lacs)(g)$\sim$ $\sim$ $\sim$ $\sim$ $\sim$ $\sim$ $\sim$ $\sim$	3.566.754.722.40373.308.8660.282.5878.02	1.965.068.011.80312.889.8140.037.5951.82

Basic Earnings per Share for the year ended $(\bar{\tau})$ The long term rating for the debt instruments of the Company has been maintained by CARE Ratings as CARE AA (Double A). $(h)$

$(i)$ The Company continues to maintain more than 100% asset cover for the secured NCDs issued by it.

(j) Ratios have been calculated as follows: $\tilde{R}$

Place: Kanpur

Dated :June 12, 2021

a Debts Equity Ratio:- Debts(Long Term Borrowings (Current+Non Current) / Net Worth (Share holders fund) a ) b ) Debts Service Coverage Ratio:- PBIDT/(Interest for the period/year+ Principal Repayments of Long Term borrowing due for the period/year) c) Interest Service Coverage Ratio:- PBIDT/Interest for the period/year

The figures for the corresponding previous period have been regrouped / reclassified wherever necessary, to make them comparable.

$13$ The Board of Directors have recommanded a final dividend @ of ₹. 15.00 per equity share of face value of ₹. 10 per share(150%) for the financial year (FY) $14$ 2020-21, subject to the approval of share holder at the ensuing annual general meeting of the company.

For and on behalf of the Board of Directors

RAGHAVPAT Batalky signed bySINGHANIA (BAR-2021.06.12 14:00:46

Dr. Raghavpat Singhania Managing Director DIN No. 02426556

For Kind Attention of Shareholders : As a part of Green Initiative of the Government,all the Shareholders are requested to get their email addresses registered with the Company for receiving Annual Report, etc. on email.

$\mathfrak{a}$

2nd & 3rd FloorGolf View Corporate Tower - BSector - 42, Sector RoadGurugram - 122 002, Haryana, India Tel: +91 124 681 6000

Independent Auditor's Report on the Quarterly and Year to Date Audited Standalone Financial Results of the Company Pursuant to the Regulation 33 and 52 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, as amended

To The Board of Directors of J.K. Cement Limited

Report on the audit of the Standalone Financial Results

Opinion

We have audited the accompanying statement of quarterly and year to date standalone financial results of J.K. Cement Limited (the "Company") for the quarter ended March 31, 2021 and for the year ended March 31, 2021 ("Statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, the Statement:

is presented in accordance with the requirements of the Listing Regulations in this regard; i. and
gives a true and fair view in conformity with the applicable accounting standards and other ii. accounting principles generally accepted in India, of the net profit and other comprehensive income and other financial information of the Company for the quarter ended March 31, 2021 and for the year ended March 31, 2021.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013, as amended ("the Act"). Our responsibilities under those Standards are further described in the "Auditor's Responsibilities for the Audit of the Standalone Financial Results" section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion.

Emphasis of Matter - Impact for outbreak of Coronavirus (COVID 19)

We draw attention to Note 9 in the accompanying statement of quarterly and year to date standalone financial results of J.K. Cement Limited, for the quarter ended March 31, 2021 and for the year ended March 31, 2021, which describes the management's assessment of the impact of uncertainties related to outbreak of COVID-19 on the future business operations of the Company.

Our opinion is not modified in respect of this matter.

Emphasis of Matter on CCI Matter

We draw attention to Note 6(i) and 6(ii) in the accompanying statement of quarterly and year to date standalone financial results of J.K. Cement Limited, for the quarter ended March 31, 2021 and for the year ended March 31, 2021 wherein it has been stated that the Competition Commission of India ('CCI') iras imposed penalty of Rs. 12,854 lakhs ('first matter') and Rs. 928 lakhs ('second matter') in two separate orders dated August 31,2016 and January l9,20lt respectively for alleged contravention of provisions of Competitioi l"tZOOZ by the Company. The Company has filed appeals against the above orders.

The National Company Law Appellate Tribunal ('NCLAT'), on hearing the appeal in the first malter, upheld the decision ofCCt for iJvying the penalty vide its order dated July 25, 2018. Post order ofthe ilClef, CCI issued a revised demand notioe dated August 7,2018 of Rs. 15,492 lakhs consisting of penalty of zu. tZ,SS+ lakhs and interest of Rs. 2,638 lakhs. The Company has filed appeal with Hon'ble 'Sop."111r Court against the above order. Hon'ble Supreme Court has stayed the NCLAT order. While itr" upp.ul of the-Company is pending for hearing, the Company b_ack9{ by a legal opinion, believes that ii has a good case and-accordingly no provision has been considered in the books of accounts.

In the second matter, demand has been stayed and the matter is pending for the hearing before NCALT. While the appeal of the Company is pending for hearing, the the Company baoked by a legal opinion, believes tnat'it fras a good rur" accordingly no provision has been considered in the books of accounts.

Our opinion is not modified in respect of this matter.

Management's Responsibilities for the standalone Financial Results

The Statement has been prepared on the basis ofthe standalone annual financial statements. The Board of Directors of the Company ur" ,"rponsible for the preparation andpresentation of the Statement that !i*, u true and fair view oithe net profit and other comprehensive income of the Company and other frnancial information in accordance with the applicable accounting standards presoribed ulder Section ff "f tlr. A"t read with relevant rules issuJthereunder and other accounting principles gengr.llly a"""pt"d in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate u.rouiting records in accordance with the provisions ofthe Act ioi-of"gu*aing of the assets oithe Companyand for prevenling and.detecting frauds and other ir*gul"fitio; siection and application of ippropriate aCcounting p.olicies; making judgments and estimates that are reasonuif" unl pruden! andiite design, implementation and maintenance of adequate inirtn"Lnnuncial controts, that wlre opeiating effectively for ensuring the accuracy and completeness ;ith" ;;"ting records, relevant to fhe preparation and presentation of the Statement that give a true and fair view ani are free from material misstatement, whether due to fraud or effor'

In preparing the Statement, the Board of Directors are responsible for assessing the Company'sability to continue as a going "onr"*, Jisclosing, as applicable, matters related to going concenr and using the ;;t";r"d Lirir Jru..ounting unless-t.he Board of Directors either intends to liquidate the company ir tJctuse operations, or has no realistic alternative but to do so'

The Board of Directors are also responsible for overseeing ttre company's financial reporting process'

Auditor's Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the Statement.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the Statement, whether due to fraud or $\bullet$ error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the Statement, including the disclosures, $\bullet$ and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Other Matter

The Statement includes the results for the quarter ended March 31, 2021 being the balancing figure between the audited figures in respect of the full financial year ended March 31, 2021 and the published unaudited year-to-date figures up to the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.

$\frac{1}{2}$

$\mathcal{I}$

$\mathbb{I}$

$\frac{1}{2}$

For S.R. BATLIBOI & Co. LLP Chartered Accountants ICAI Firm Registration Number: 301003E/E300005 ATUL DESARTA DE CARACTER DE EN EN EN EN EN EN EN EN EN EN EN EN EN per Atul Seksaria Partner Membership No.: 086370

UDIN: 21086370AAAABF7193

Place: Faridabad Date: June 12, 2021

CIN: L17229UP1994PLC017199 Registered & Corporate Office : Kamla Tower , Kanpur -208001 (U.P.) Ph.: +91 512 2371478 to 81; Fax: +91 512 2399854/ 2332665; website: www.jkcement.com ; e-mail: [email protected]

STATEMENT OF CONSOLIDATED AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH 2021

			Three Months Ended		Year Ended	Period Ended
SI.	Particulars	31.03.2021(Refer Note 4)	31.12.2020	31.03.2020(Refer Note 4)	31.03.2021	31.03.2020(Refer Note 9)
No.		Audited	Unaudited	Audited	Audited	Audited
		213.414.81	183,271.23	154,565.16	660,610.27	580,163.78
	Revenue from operations	3.404.07	3.022.51	2,729.49	11,295.35	8.532.52
	II Other Income	216,818.88	186,293.74	157,294.65	671,905.62	588,696.30
	III Total Income (I+II)
	IV Expenses	31,994.33	30,448.14	23,157.90	101,536.13	92,739.25
	a) Cost of materials consumed	1,515.29	1.149.83	707.40	4,292.34	2,575.91
	b) Purchase of traded goodsc) Changes in inventories of finished Goods, work in progress and stock in trade	1.147.38	(4, 113.22)	(2,666.58)	1,253.51	(7,778.25)
		12,390.49	12,423.45	11.228.72	46,227.15	45,521.82
	d) Employee benefits expense	5,915.21	6,631.83	6,612.73	25,276.70	27,636.29
	e) Finance costs	7,980.95	7,755.40	7.254.55	30,619.04	28,796.17
	f) Depreciation and amortisation expense	37,396.92	33,918.95	28,364.50	116,538.91	109,686.54
	g) Power and fuel	44,074.37	36,627.33	29.698.52	130, 181. 13	110,243.04
	h) Freight and forwarding	40,460.30	27,784.07	28,865.37	106,712.63	105,830.84
	i) Other expenses	182,875.24	152,625.78	133,223.11	562,637.54	515,251.61
	Total Expenses (a to i)	33,943.64	33,667.96	24,071.54	109,268.08	73,444.69
	V Profit before exceptional items and tax (III-IV)
	VI Exceptional Items		33,667.96	24,071.54	109,268.08	73,444.69
	VII Profit before tax (V-VI)	33,943.64	10,765.68	2,474.70	30,756.71	17,123.87
	a) Current Tax	8,788.711,520.70	1,173.74	5,563.21	5,998.18	9,171.56
	b) Deferred Tax	2,203.06		(48.86)	2,203.06	(1, 190.05)
	c) Earlier Years Tax Adjustments	12,512.47	11,939.42	7.989.05	38,957.95	25,105.38
	VIII Total Tax Expense	21,431.17	21,728.54	16,082.49	70,310.13	48,339.31
	IX Profit after tax (VII-VIII)	21,591.13	21,937.98	16,263.62	70,971.86	49,239.77
	Attributable to: Equity Holders of the J.K.Cement Ltd.	(159.96)	(209.44)	(181.13)	(661.73)	(900.46)
	: Non Controlling Interest
	X Other Comprehensive Income /(Loss)	420.98	(342.30)	1,095.18	49.07	1.714.34
	Items that will not be reclassified to profit and loss in subsequent period, net of tax	420.98	(342.30)	1,095.18	49.07	1,714.34
	Other Comprehensive Income /(Loss) for the period, net of tax	436.09	(372.50)	1,244.61	(65.54)	2,116.68
	Other comprehensive income attributable to: Equity Holders of the J.K.Cement Ltd.	(15.11)	30.20	(149.43)	114.61	(402.34)
	: Non Controlling Interest	21,852.15	21,386.24	17,177.67	70,359.20	50,053.65
	XI Total Comprehensive Income for the period, net of tax (IX+X)	22,027.22	21,565.48	17.508.23	70,906.32	51,356.45
	Profits attributable to: Equity Holders of the J.K.Cement Ltd.	(175.07)	(179.24)	(330.56)	(547.12)	(1,302.80)
	: Non Controlling Interest	7.726.83	7,726.83	7,726.83	7,726.83	7,726.83
	XII Paid-up Equity Share Capital
	(Face value of ₹ 10/- per share)				365,947.86	295,041.55
	XIII Other Equity (Excluding Revaluation Reserves)	27.74	28.12	20.81	90.99	62.56
	XIV Basic and Diluted Earnings Per Share(of ₹10/-each)
	(Not Annualized except year ended)

Notes:

$\ddot{\phantom{a}}$

$\ddot{\phantom{a}}$ ÷.

1 Statement of Assets and Liabilities :

$\sim 10^7$

$\sim$ $\sim$

			(₹ in Lacs)
		Year Ended	Period Ended
SI.No.	¢,Particulars	31.03.2021(Audited)	31.03.2020(Audited)
	ASSETS
$\mathbf{1}$	Non-Current Assets
	Property, plant and equipment	550,813.97	522,066.01
	Capital work-in-progress	50.933.35	52,953.50
	Intangible assets	4,688.17	2,724.85
	Right-of-use assets	38,233.57	30,657.78
	Financial assets:
	(i) Investments	4,396.93	4.480.29
	(ii) Other financial assets	6,829.78	5,064.72
	Other non-current assets	12,992.72	12,799.19
	Total non current assets	668,888.49	630,746.34
$\mathbf{2}$	Current assets
	Inventories	75,658.60	69,040.18
	Financial assets:
	(i) Investments	9,827.01	103.45
	(ii) Trade Receivables	36, 153.35	26,767.42
	(iii) Cash and cash equivalents	14,673.12	3,850.17
	(iv) Bank Balances other than (iii) above	107,791.75	59,597.58
	(v) Other financial assets	55,523.50	46,298.52
	Current tax assets (net)		873.56
	Other current assets	18,682.38	16,926.20
	Total current assets	318,309.71	223,457.08
	Total Assets	987,198.20	854,203.42
	EQUITY AND LIABILITIES
1	Equity
	Equity share capital	7,726.83	7,726.83
	Other equity	365,947.86	295,041.55
	Non Controlling Interests	(2,573.45)	(2,026.33)300,742.05
	Total equity	371,101.24
$\overline{2}$	Non-Current Liabilities
	Financial Liabilities:		270,351.45
	(i) Borrowings	299.312.16	18,713.25
	(ii) Lease Liabilities	17,448.90	27,370.79
	(iii) Other Financial Liabilities	31,077.40	5,018.29
	Provisions	5,405.3959,296.83	41,726.63
	Deferred tax liabilities (net)	7,820.63	7,812.07
	Other non current liabilities		370,992.48
	Total non current liabilities	420,361.31
3	Current liabilities
	Financial liabilities:	14,934.70	18.072.95
	(i) Borrowings	4,973.24	3,187.30
	(ii) Lease liabilities
	(iii) Trade payables	6,166.70	2.159.74
	a) Total outstanding dues of micro enterprises and small enterprises	53,812.32	47.018.82
	b) Total outstanding dues of creditors other than micro enterprises and small enterprises	48,066.94	62,862.83
	(iv) Other financial liabilities	58,384.50	38,097.69
	Other current liabilities	8,472.10	11,069.56
	Provisions	925.15
	Current tax liabilities (net)	195,735.65	182,468.89
	Total current liabilities	987,198.20	854, 203.42
	Total Equity and Liabilities

$\frac{1}{2}$

$\sim$

2 Statement of Cash flow:

$\sim 10^{-10}$

$\sigma_{\rm{max}}$ and $\sigma_{\rm{max}}$ $\frac{1}{2}$

2	Statement of Cash flow:		(< in Lacs)
S 1No.	Particulars	Year Ended31.03.2021(Audited)	Period Ended31.03.2020(Audited)
A	Cash Flow from Operating Activities
	Net Profit before tax	109,268.08	73,444.69
	Adjustment for :-
	Depreciation & amortization expenses	30,619.04	28,796.17
	Loss on the sale of property, plant & equipment/ Impairment	4,565.24	3,169.06
	Interest paid	24,905.08	27,079.93
	Interest received	(8, 242.75)	(5,638.90)
	Bad Debts / Loans and Advances	325.00
	Provision for doubtful debts / loans and advances	116.84	248.81
	Net fair value gain on financial assets measured at fair value through profit or loss	(228.07)	(845.38)
	Movement in Government grant	6.52	(846.41)
	Mines restoration charges	124.81	65.44
	Operating Profit Before Working Capital Changes	161,459.79	125,473.41
	Working capital adjustments :-
	Increase in Trade Payables	10,800.46	5,825.08
	Increase in other financial liabilities	7,315.09	27,648.33
	Increase in Other liabilities	20,288.85	1,785.95
	Increase / (Decrease) in Provisions	(2, 198.70)	2,233.50
	(Increase) in Inventories	(6,618.42)	(6,652.01)
	(Increase) in Trade receivables	(9,827.77)	(1, 292.56)
	(increase)/ Decrease in Other assets	(718.26)	714.24
	(Increase) in Other financial assets	(1,886.69)	(3,261.35)152,474.59
	Cash Generated From Operations	178,614.35	(15, 299.36)
	Less : Income Tax Paid (inclusive of tax deducted at source)	(19,589.04)159,025.31	137, 175.23
	Net Cash Flow From operating activities
в	Cash Used in Investing Activities	120,307.30	34,231.29
	Proceed from maturity of fixed deposit	(177, 037.50)	(100, 696.26)
	Investment in Fixed Deposits	(76, 780.78)	(125,033.60)
	Acquisition/Purchase of property, plant & equipment	879.01	758.33
	Sale of property, plant & equipment	(60, 740.34)	(46, 536.41)
	Investment in Equity, Mutual funds & Bonds	51,647.80	86,777.87
	Sale of Investment	7,355.84	2,845.00
	Interest received	(134, 368.67)	(147, 653.78)
	Net Cash Used In Investing Activities
C	Cash used in Financing Activities	58.500.00	68,300.00
	Proceeds from long term borrowings	(44, 163.54)	(30, 943.39)
	Repayment of long term borrowings	(3, 138.25)	(5,742.61)
	Repayment of short term borrowings	744.63	282.51
	Proceeds from VAT Loans	(231.01)	(527.76)
	Repayment of deferred sales Tax	60.24	(282.87)
	Proceeds /(Repayment) from vehicle loans	(236.63)	633.87
	Payment towards principal portion of lease liabilities	(983.52)	(1, 196.15)
	Interest paid on lease liabilities	(24, 265.23)	(25, 568.22)
	Interest Expense PaidDividend paid (including dividend distribution tax)	(32.97)	(16, 266.55)
	Net Cash Used in Financing Activities	(13,746.28)	(11, 311.17)
	Net Increase/(Decrease) in Cash and Cash Equivalents (A+B+C)	10,910.36	(21.789.72)
	Exchange rate fluctuation reserve on conversion	(87.41)	(666.33)
	Cash and Cash Equivalents at the beginning of the year	3,850.17	26,306.22
	Cash and Cash Equivalents at the end of the year	14,673.12	3,850.17(21, 789.72)
		10.910.36

$\frac{1}{2} \sum_{i=1}^{n} \frac{1}{i} \sum_{j=1}^{n} \frac{1}{j} \sum_{j=1}^{n} \frac{1}{j} \sum_{j=1}^{n} \frac{1}{j} \sum_{j=1}^{n} \frac{1}{j} \sum_{j=1}^{n} \frac{1}{j} \sum_{j=1}^{n} \frac{1}{j} \sum_{j=1}^{n} \frac{1}{j} \sum_{j=1}^{n} \frac{1}{j} \sum_{j=1}^{n} \frac{1}{j} \sum_{j=1}^{n} \frac{1}{j} \sum_{j=1}^{n} \frac{1}{j} \sum_{j=1}^{n$