J.K. Cement gets approval to enter Paint Business

J.K. Cement has received approval from its board to enter into the Paint business with a wholly-owned subsidiary. It would undertake manufacturing, selling, trading. Importing, exporting and dealing in all types of paints and allied products and services.

The company has received an investment of up to Rs 600 crore for the first 5 years in its paint business. The company has experience of more than four decades in cement manufacturing. 

The consolidated net profit of the company declined by 34.95% to Rs 142.71 crore on a 10.79% rise in sales to Rs 2030.49 crore in the third quarter of the financial year. The scrip slumped 4.86% to currently trading at Rs 2510 on the BSE.