JK Cement532644Capex expansion plan

Subsidiary to set up 75,000 KLPA water-based paint plant in Telangana at estimated cost of INR 130 Crore

The board noted and approved the decision of JK Maxx Paints Ltd, a wholly owned subsidiary, to set up a new water-based paint plant at Raghunadhapalem, Suryapet District, Telangana.

By ScoutQuest · Sat 24 Oct 2026, 3:00 PM IST · 2 min read

New Plant Capacity: 75,000 KLPA
Estimated Capital Cost: INR 130 Crore
Commissioning Timeline: about 12 months from the start of construction

The board of the company met on October 24, 2026. Along with the unaudited financial results for the quarter and half year ended September 30, 2026, it noted and approved the decision of the board of JK Maxx Paints Limited, a wholly owned subsidiary, to set up a new water-based paint manufacturing plant.

The new paint plant

Location: Raghunadhapalem, Suryapet District, Telangana
Capacity: 75,000 KLPA
Estimated capital cost: INR 130 Crore
Funding: within the INR 600 Crore investment in the paints business already approved by the Board
Commissioning: expected in about 12 months from the start of construction

Why another plant

JK Maxx currently has a capacity of 73,000 KLPA at Bhiwadi, Rajasthan, and that facility is running at a utilisation rate of 60%. The stated rationale for the new plant is that the Bhiwadi facility is projected to reach full utilisation by FY 2027-28, so fresh capacity is being lined up before that point is reached.

Results approved at the same meeting

The board approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026. In the standalone statement, revenue from operations for the quarter ended September 30, 2026 was 3,594.70 crore and profit after tax was 190.00 crore. The statutory auditors issued an unmodified conclusion on the results.

Change in statutory auditors

On the recommendation of the audit committee, the board has recommended the appointment of Price Waterhouse Chartered Accountants LLP as statutory auditors, to hold office from the conclusion of the 33rd AGM to be held in 2027 till the conclusion of the 38th AGM to be held in 2032, subject to shareholder approval and confirmation of eligibility and independence under the Companies Act, 2013. S. R. Batliboi & Co. LLP, the present auditors, will complete their current term at the conclusion of the 33rd AGM.

Other items

Amendments to the code of conduct for regulating, monitoring and reporting of trading by designated persons, and to the code of practices and procedures for fair disclosure of unpublished price sensitive information, approved with immediate effect.
A certificate from the statutory auditors on security cover, compliance with all covenants and book value of assets as at September 30, 2026 was placed before the board.

How to read this

The update is a mix of routine disclosure (results, auditor transition, internal code changes) and a growth decision in the paints business. The paints plant is being funded from an investment envelope already approved earlier, so the incremental outlay being disclosed now is the INR 130 Crore estimated cost of this plant. The plant is expected to come up over roughly a year from the start of construction, so the capacity would add to volumes only after that. The trigger for the expansion is capacity tightness at the existing Bhiwadi site, which is projected to be fully utilised by FY 2027-28.

Also from JK Cement