JK Cement Ltd has been declared the preferred bidder for the 350-hectare Itauri-Jharkua limestone block in Panna, Madhya Pradesh. According to an exchange filing dated Thursday, March 19, the company secured this status following its participation in an e-auction conducted by the Government of Madhya Pradesh. The limestone block will be allotted under a mining lease, subject to necessary approvals, as reported by CNBC TV18. The company received official confirmation of being declared the 'Preferred Bidder' on March 18, 2026, at approximately 1:30 PM (IST).
For the December quarter, the cement manufacturer reported mixed financial results. As reported by CNBC TV18, the company's net profit declined 23% year-on-year to ₹57 crore from ₹74 crore in Q3FY25. However, revenue grew 6.3% YoY to ₹1,588 crore from ₹1,496 crore in the same quarter last year. EBITDA stood at ₹205.5 crore, rising 2.1% from ₹201.2 crore in the previous year, though EBITDA margin compressed to 12.9% compared with 13.4% in the year-ago period.
This strategic acquisition is crucial for securing long-term raw material supply for the company's manufacturing operations in Central India. The Itauri-Jharkua Limestone Block is strategically located in Panna, Madhya Pradesh, and covers an extensive area of 350 hectares. Securing this block is vital for ensuring a stable, long-term supply of high-quality limestone, a primary input for cement production. The development directly supports JK Cement's ongoing expansion and operational continuity plans in the region.
Following the announcement, shares of JK Cement were trading 1.77% down at ₹5,016 as of 1.54 pm, according to CNBC TV18. The stock has experienced a decline of 26.90% over the last six months, reflecting broader market sentiment toward the cement sector. The development is expected to support the company's raw material security for cement production, as reported by CNBC TV18.
