JK Lakshmi Cement CDR

JK Lakshmi Cement Ltd has informed that the Company has come out of the Corporate Debt Restructuring (CDR) purview. The Company has achieved excellent performance consistently for more than two years.

In this regard the Company has issued the following Press Release:

"JK Lakshmi Cement Ltd (JKLC) has reported all round improvements and has achieved excellent performance consistently for more than two years. The Net Profit of Rs 142 crores earned by the Company during the period of 6 months of the current year (2007-08) has more than doubled as compared to Rs 66 crores in the corresponding 6 months of the previous year. The EPS for the six months period of the current fiscal is Rs 24.44.

The Company has replaced high cost debts by cheaper funds to the extant of Rs 325 crores, which will reduce interest costs. It has come out of the Corporate Debt Restructuring (CDR) purview.

The Company's 36 MW Captive Power Plant which was commissioned recently, will contribute significantly to reduce power costs. Company's project for further enhancing the capacity from 3.4 million MT to 5 million MT per annum is progressing as per schedule and is expected to be commissioned by end of 1st half of year 2008-09. The Company is aggressively expanding its manufacturing facility of Ready Mix Concrete (RMC), a value added product."