JK Cement acquires majority stake in Saifco Cements to foray into J&K

JK Cement said that it has acquired 60% stake in Saifco Cements for total consideration of Rs 149.79 crore.

Saifco Cements (Saifco) engaged, inter alia, in business of manufacture and sale of cement and clinker, at present it has an integrated unit with clinker capacity of 0.26 million tonnes per annum (MnTPA); grinding capacity of 0.42 MnTPA. The plant is operational and located at Village: Khunmoh, Srinagar, Jammu & Kashmir (J&K). Its turnover was Rs 73.17 crore in FY25.

The acquisition will help the company expand its footprint into the Jammu and Kashmir.

Following the acquisition, Saifco has become a subsidiary of the company with immediate effect and the board of the Saifco shall be reconstituted, with three individuals nominated by the company will be appointed as additional directors on the board of Saifco and two directors would continue to represent existing promoter and promoter group of Saifco.

JK Cement is one of India?s leading manufacturers of grey cement and one of the leading white cement manufacturers in the world. The company is engaged in the manufacturing and selling of cement and allied products.

The company?s consolidated net profit jumped 64% to Rs 360.36 crore on 15.3% increase in net sales to Rs 3,581.18 crore in Q4 FY25 over Q4 FY24.

The scrip declined 1.58% to Rs 5,784.15 on the BSE.

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