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KAJARIACER
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India's Kajaria Ceramics misses profit estimates as tepid demand drags margins
Feb 4 (Reuters) - India's Kajaria Ceramics KAJR.NS reported a third-quarter profit that missed analysts' estimates on Tuesday as its margins came under pressure due to soft demand for its tiles in a seasonally weak quarter.
The company's consolidated net profit dropped more than 25% to 777.4 million rupees (nearly $9 million) in the quarter, falling short of analysts' average estimate of 1.06 billion rupees, per data compiled by LSEG.
The company's shares accelerated their marginal decline to as much as 2.7% after the results were released.
Kajaria Ceramics' revenue from operations rose 1% to 11.64 billion rupees, with the company also flagging lower realizations and persistently weak exports.
The main reason though was a subdued 7% volume growth in a quarter which is seasonally slow for building activities as labor travel home for the many festivals in the period.
Analysts at HDFC Securities and Systematix expected volume growth of 8% and 9%, respectively, and had also flagged increasing competition from unorganized, private players.
Kajaria Ceramics' core profit margins narrowed to 12.8% from 15.5% a year ago.
The company, however, remains optimistic about demand in the near to medium term, Chairman Ashok Kajaria said in a statement.
($1 = 87.0490 Indian rupees)
(Reporting by Hritam Mukherjee and Manvi Pant; Editing by Savio D'Souza)
(([email protected]; X: @MukherjeeHritam;))
Feb 4 (Reuters) - India's Kajaria Ceramics KAJR.NS reported a third-quarter profit that missed analysts' estimates on Tuesday as its margins came under pressure due to soft demand for its tiles in a seasonally weak quarter.
The company's consolidated net profit dropped more than 25% to 777.4 million rupees (nearly $9 million) in the quarter, falling short of analysts' average estimate of 1.06 billion rupees, per data compiled by LSEG.
The company's shares accelerated their marginal decline to as much as 2.7% after the results were released.
Kajaria Ceramics' revenue from operations rose 1% to 11.64 billion rupees, with the company also flagging lower realizations and persistently weak exports.
The main reason though was a subdued 7% volume growth in a quarter which is seasonally slow for building activities as labor travel home for the many festivals in the period.
Analysts at HDFC Securities and Systematix expected volume growth of 8% and 9%, respectively, and had also flagged increasing competition from unorganized, private players.
Kajaria Ceramics' core profit margins narrowed to 12.8% from 15.5% a year ago.
The company, however, remains optimistic about demand in the near to medium term, Chairman Ashok Kajaria said in a statement.
($1 = 87.0490 Indian rupees)
(Reporting by Hritam Mukherjee and Manvi Pant; Editing by Savio D'Souza)
(([email protected]; X: @MukherjeeHritam;))
Kajaria Ceramics Sept-Quarter Consol Net Profit 842.7 Mln Rupees
Oct 22 (Reuters) - Kajaria Ceramics Ltd KAJR.NS:
KAJARIA CERAMICS LTD - DIVIDEND OF 5 RUPEES PER SHARE
KAJARIA CERAMICS LTD SEPT-QUARTER CONSOL NET PROFIT 842.7 MILLION RUPEES
KAJARIA CERAMICS LTD SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 11.79 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: KAJR.NS
(([email protected];))
Oct 22 (Reuters) - Kajaria Ceramics Ltd KAJR.NS:
KAJARIA CERAMICS LTD - DIVIDEND OF 5 RUPEES PER SHARE
KAJARIA CERAMICS LTD SEPT-QUARTER CONSOL NET PROFIT 842.7 MILLION RUPEES
KAJARIA CERAMICS LTD SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 11.79 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: KAJR.NS
(([email protected];))
Kajaria Ceramics Approved Increase In Limits Of Investment In Unit To 300 Million Rupees
Aug 27 (Reuters) - Kajaria Ceramics Ltd KAJR.NS:
KAJARIA CERAMICS - APPROVED INCREASE IN LIMITS OF INVESTMENT IN UNIT TO 300 MILLION RUPEES
Further company coverage: KAJR.NS
(([email protected];))
Aug 27 (Reuters) - Kajaria Ceramics Ltd KAJR.NS:
KAJARIA CERAMICS - APPROVED INCREASE IN LIMITS OF INVESTMENT IN UNIT TO 300 MILLION RUPEES
Further company coverage: KAJR.NS
(([email protected];))
Kajaria Ceramics To Dispose Of Machineries Of Unit-1 At Gailpur Plant
July 23 (Reuters) - Kajaria Ceramics Ltd KAJR.NS:
KAJARIA CERAMICS - TO DISPOSE OF MACHINERIES OF UNIT-1 AT GAILPUR PLANT
Source text for Eikon: ID:nNSE6yByXm
Further company coverage: KAJR.NS
(([email protected];))
July 23 (Reuters) - Kajaria Ceramics Ltd KAJR.NS:
KAJARIA CERAMICS - TO DISPOSE OF MACHINERIES OF UNIT-1 AT GAILPUR PLANT
Source text for Eikon: ID:nNSE6yByXm
Further company coverage: KAJR.NS
(([email protected];))
India's Kajaria Ceramics posts surprise Q4 profit drop on higher costs
BENGALURU, May 7 (Reuters) - India's Kajaria Ceramics KAJR.NS reported a surprise drop in fourth-quarter profit on Tuesday, hurt by increased costs and weak demand.
Kajaria's consolidated net profit fell 5.2% year-on-year to 1.02 billion rupees ($12.2 million) in the fourth quarter. Analysts, on average, had expected profit to climb to 1.26 billion rupees, according to LSEG data.
Domestic demand for tiles was weak during the January-March quarter and the Red Sea crisis dampened exports, according to analysts. This trend follows minimal volume growth in the tiles industry in the first three quarters of fiscal 2024.
Tiles, used frequently in housing and commercial building projects, is yet to see a pick-up in domestic demand that follows a recovery in the real estate sector. As a result, Kajaria's sales volume grew 5.5% in January-March. It had risen 11% in the fourth quarter of fiscal 2023.
Kajaria's revenue from operations rose 3% to 12.41 billion rupees.
"We maintain a positive outlook for the tile industry's demand in FY25 given the exports momentum likely to sustain and rub-off of strong real estate demand likely to drive improvement in off-take for tiles in fiscal 2025," Ashok Kajaria, the company's chairman, said in a statement.
Meanwhile, analysts anticipated that Kajaria's power and fuel costs would go down as the company uses cheaper biofuel. While these costs did decrease, the company spent more on merchandise and equipment, and had costs in the form of inventory.
As a result, expenses climbed 4.4%. Its purchase of stock-in-trade, or merchandise and equipment, rose 10.2% and inventory costs surged 94.8%.
Kajaria Ceramics, India's top tile-maker by market value, is the first among its peers to report results for the January-March quarter.
($1 = 83.4960 Indian rupees)
(Reporting by Anisha Ajith in Bengaluru)
(([email protected];))
BENGALURU, May 7 (Reuters) - India's Kajaria Ceramics KAJR.NS reported a surprise drop in fourth-quarter profit on Tuesday, hurt by increased costs and weak demand.
Kajaria's consolidated net profit fell 5.2% year-on-year to 1.02 billion rupees ($12.2 million) in the fourth quarter. Analysts, on average, had expected profit to climb to 1.26 billion rupees, according to LSEG data.
Domestic demand for tiles was weak during the January-March quarter and the Red Sea crisis dampened exports, according to analysts. This trend follows minimal volume growth in the tiles industry in the first three quarters of fiscal 2024.
Tiles, used frequently in housing and commercial building projects, is yet to see a pick-up in domestic demand that follows a recovery in the real estate sector. As a result, Kajaria's sales volume grew 5.5% in January-March. It had risen 11% in the fourth quarter of fiscal 2023.
Kajaria's revenue from operations rose 3% to 12.41 billion rupees.
"We maintain a positive outlook for the tile industry's demand in FY25 given the exports momentum likely to sustain and rub-off of strong real estate demand likely to drive improvement in off-take for tiles in fiscal 2025," Ashok Kajaria, the company's chairman, said in a statement.
Meanwhile, analysts anticipated that Kajaria's power and fuel costs would go down as the company uses cheaper biofuel. While these costs did decrease, the company spent more on merchandise and equipment, and had costs in the form of inventory.
As a result, expenses climbed 4.4%. Its purchase of stock-in-trade, or merchandise and equipment, rose 10.2% and inventory costs surged 94.8%.
Kajaria Ceramics, India's top tile-maker by market value, is the first among its peers to report results for the January-March quarter.
($1 = 83.4960 Indian rupees)
(Reporting by Anisha Ajith in Bengaluru)
(([email protected];))
India's small exporters reel as Red Sea crisis helps rivals nab business
Re-routing of ships squeezes already thin margins
Small firms export 40% of India's merchandise exports
Turkey, Poland gain as Indian firms' shipping costs soar
Job losses have emerged and could jump if crisis prolonged
By Manoj Kumar and Mayank Bhardwaj
NEW DELHI, Feb 16 (Reuters) - Atul Jhunjhunwala, an exporter in the Indian eastern city of Kolkata, is tearing his hair out, having just lost another order due to the Red Sea crisis that has jacked up his shipping costs and times.
"Last week, I lost a big order to a Polish competitor who does not need to pay increased freight rates," said Jhunjhunwala, head of Binayak Hi Tech Engineering which ships about 700 containers of machinery tools, industrial castings, and railway shed materials per year.
Turkish exporters were also benefiting at the expense of Indian companies, he said, adding that he has also sent some orders on to buyers at a loss after absorbing increased costs.
"No one can afford to lose buyers with whom we have worked for over decades," he said.
Missile and drone attacks in the Red Sea by Yemen's Houthi militants, who say they are acting in solidarity with Palestinians in the Gaza war, have forced many ocean freight firms to re-route vessels away from the Suez Canal to around the Cape of Good Hope on the southern tip of Africa.
The crisis has begun to upend global supply chains, with Chinese exporters also stumbling in pain. Many suppliers sign export deals on a cost, insurance and freight basis, making them responsible for any increases in freight and insurance costs.
In India, small exporters - who account for 40% of the country's annual merchandise exports worth some $450 billion - have warned that job losses have started and could soar if the attacks, which began late last year, become prolonged.
Even before the crisis, India's small exporters were operating at very thin profit margins - typically between 3% and 7%, according to industry estimates.
"Job losses are already visible in India's textile hub of Tirupur due to the Red Sea issue in southern India where small exporters are working at one-third of their capacity," said K.E. Raghunathan, a Chennai-based manufacturer and national chairman of the Association of Indian Entrepreneurs.
He noted that longer shipping times had led to less freight capacity and that the scarcity of containers was becoming a big problem for small exporters as big export houses have booked containers in bulk. The government should help small exporters otherwise many of them would "perish", he added.
Export organisations have formally sought relief from the government which has formed a trade ministry panel to monitor the situation and consider their requests for help.
"ONE OF THE WORST TIMES"
More than 80% of India's merchandise trade with Europe and the United States would normally take place via the Red Sea. India exports roughly $8 billion of merchandise to Europe a month and more than $6 billion a month to the United States.
Textiles, engineering goods - which comprise steel, machinery and industrial parts - as well as gems and jewellery are India's biggest sectors exporting to those regions.
Re-routing via the Cape of Good Hope has meant ships sailing from India will often need an extra 15-20 days before reaching destinations in Europe, greatly increasing costs.
For example, shipping a container to Britain now costs around $4,000 compared to $600 before the Red Sea crisis, Ashok Kajaria, chairman at Kajaria Ceramics KAJR.NS told an analysts' call last month.
The Red Sea crisis comes only a few years after the COVID-19 pandemic when freight rates soared as supply chains snarled and demand for goods jumped. India's small exporters have also since been hit by weakening demand for their goods as Western economies grapple with high inflation levels.
"This is one of the worst times for many garment exporters," said Nitin Seth, chief operating officer at Pratibha Syntex, an Indore-based garment manufacturer.
"If this situation persists, at least one-fifth of small exporters could resort to job cuts," he said.
Other exporters in India's textile industry - which directly employs 45 million people and indirectly another 15 million - said they were worried that they could soon lose business to Turkey's clothing industry.
"Turkey, a major competitor for India's textiles exports in Europe, poses a big risk to small exporters due to its locational advantage," said Ajay Sahai, director general of the Federation of Indian Export Organisations.
In one silver lining, many export contracts for India will come up for renewal in March or April - the start of the business year - and many smaller exporters said they are hopeful that customers will agree to bear at least some of the burden of increased freight costs.
"We have a long-term relationship with our customers. We expect they would agree to absorb a part of higher freight rates when contracts come up for review," said Jhunjhunwala.
($1 = 82.99 rupees)
Militant attacks affect shipping movement https://reut.rs/42wpEkJ
Rising shipping costs hit India’s small exporters https://reut.rs/42EEYMr
(Reporting by Manoj Kumar and Mayank Bhardwaj; Additional reporting by Lisa Baertlein in Los Angeles; Editing by Edwina Gibbs)
(([email protected]; +919810286200; Twitter:@manojgulnar;))
Re-routing of ships squeezes already thin margins
Small firms export 40% of India's merchandise exports
Turkey, Poland gain as Indian firms' shipping costs soar
Job losses have emerged and could jump if crisis prolonged
By Manoj Kumar and Mayank Bhardwaj
NEW DELHI, Feb 16 (Reuters) - Atul Jhunjhunwala, an exporter in the Indian eastern city of Kolkata, is tearing his hair out, having just lost another order due to the Red Sea crisis that has jacked up his shipping costs and times.
"Last week, I lost a big order to a Polish competitor who does not need to pay increased freight rates," said Jhunjhunwala, head of Binayak Hi Tech Engineering which ships about 700 containers of machinery tools, industrial castings, and railway shed materials per year.
Turkish exporters were also benefiting at the expense of Indian companies, he said, adding that he has also sent some orders on to buyers at a loss after absorbing increased costs.
"No one can afford to lose buyers with whom we have worked for over decades," he said.
Missile and drone attacks in the Red Sea by Yemen's Houthi militants, who say they are acting in solidarity with Palestinians in the Gaza war, have forced many ocean freight firms to re-route vessels away from the Suez Canal to around the Cape of Good Hope on the southern tip of Africa.
The crisis has begun to upend global supply chains, with Chinese exporters also stumbling in pain. Many suppliers sign export deals on a cost, insurance and freight basis, making them responsible for any increases in freight and insurance costs.
In India, small exporters - who account for 40% of the country's annual merchandise exports worth some $450 billion - have warned that job losses have started and could soar if the attacks, which began late last year, become prolonged.
Even before the crisis, India's small exporters were operating at very thin profit margins - typically between 3% and 7%, according to industry estimates.
"Job losses are already visible in India's textile hub of Tirupur due to the Red Sea issue in southern India where small exporters are working at one-third of their capacity," said K.E. Raghunathan, a Chennai-based manufacturer and national chairman of the Association of Indian Entrepreneurs.
He noted that longer shipping times had led to less freight capacity and that the scarcity of containers was becoming a big problem for small exporters as big export houses have booked containers in bulk. The government should help small exporters otherwise many of them would "perish", he added.
Export organisations have formally sought relief from the government which has formed a trade ministry panel to monitor the situation and consider their requests for help.
"ONE OF THE WORST TIMES"
More than 80% of India's merchandise trade with Europe and the United States would normally take place via the Red Sea. India exports roughly $8 billion of merchandise to Europe a month and more than $6 billion a month to the United States.
Textiles, engineering goods - which comprise steel, machinery and industrial parts - as well as gems and jewellery are India's biggest sectors exporting to those regions.
Re-routing via the Cape of Good Hope has meant ships sailing from India will often need an extra 15-20 days before reaching destinations in Europe, greatly increasing costs.
For example, shipping a container to Britain now costs around $4,000 compared to $600 before the Red Sea crisis, Ashok Kajaria, chairman at Kajaria Ceramics KAJR.NS told an analysts' call last month.
The Red Sea crisis comes only a few years after the COVID-19 pandemic when freight rates soared as supply chains snarled and demand for goods jumped. India's small exporters have also since been hit by weakening demand for their goods as Western economies grapple with high inflation levels.
"This is one of the worst times for many garment exporters," said Nitin Seth, chief operating officer at Pratibha Syntex, an Indore-based garment manufacturer.
"If this situation persists, at least one-fifth of small exporters could resort to job cuts," he said.
Other exporters in India's textile industry - which directly employs 45 million people and indirectly another 15 million - said they were worried that they could soon lose business to Turkey's clothing industry.
"Turkey, a major competitor for India's textiles exports in Europe, poses a big risk to small exporters due to its locational advantage," said Ajay Sahai, director general of the Federation of Indian Export Organisations.
In one silver lining, many export contracts for India will come up for renewal in March or April - the start of the business year - and many smaller exporters said they are hopeful that customers will agree to bear at least some of the burden of increased freight costs.
"We have a long-term relationship with our customers. We expect they would agree to absorb a part of higher freight rates when contracts come up for review," said Jhunjhunwala.
($1 = 82.99 rupees)
Militant attacks affect shipping movement https://reut.rs/42wpEkJ
Rising shipping costs hit India’s small exporters https://reut.rs/42EEYMr
(Reporting by Manoj Kumar and Mayank Bhardwaj; Additional reporting by Lisa Baertlein in Los Angeles; Editing by Edwina Gibbs)
(([email protected]; +919810286200; Twitter:@manojgulnar;))
India's Kajaria Ceramics rises after upbeat Q3 results
** Shares of India's Kajaria Ceramics KAJR.NS 2.9% after healthy Q3 results
** Stock on track for fourth straight session of gains
** Co's Q3 consol net profit jumped 40%; rev from ops rose 5.6%
** More than 556,000 shares changed hands by 2:56 p.m. IST, 2.3x 30-day avg
** Avg analysts' recommendation on stock is equivalent to "buy," compared to "strong buy" on rival Somany Ceramics SOCE.NS - LSEG data
** Stock fell 1.5% in Q3, vs Somany Ceramics' 3.5% rise
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
** Shares of India's Kajaria Ceramics KAJR.NS 2.9% after healthy Q3 results
** Stock on track for fourth straight session of gains
** Co's Q3 consol net profit jumped 40%; rev from ops rose 5.6%
** More than 556,000 shares changed hands by 2:56 p.m. IST, 2.3x 30-day avg
** Avg analysts' recommendation on stock is equivalent to "buy," compared to "strong buy" on rival Somany Ceramics SOCE.NS - LSEG data
** Stock fell 1.5% in Q3, vs Somany Ceramics' 3.5% rise
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
Kajaria Ceramics Approves Increase In Limits Of Investment By Co In Kajaria Plywood
Dec 28 (Reuters) - Kajaria Ceramics Ltd KAJR.NS:
APPROVED INCREASE IN LIMITS OF INVESTMENT BY CO IN KAJARIA PLYWOOD FROM 800 MILLION RUPEES TO 1.15 BILLION RUPEES
APPROVED ADDITIONAL ACQUISITION OF SHARES OF SOUTH ASIAN CERAMIC TILES
ADDITIONAL ACQUISITION FOR CONSIDERATION OF ABOUT 51 MILLION RUPEES
Source text for Eikon: ID:nBSE2p1mKd
Further company coverage: KAJR.NS
(([email protected];))
Dec 28 (Reuters) - Kajaria Ceramics Ltd KAJR.NS:
APPROVED INCREASE IN LIMITS OF INVESTMENT BY CO IN KAJARIA PLYWOOD FROM 800 MILLION RUPEES TO 1.15 BILLION RUPEES
APPROVED ADDITIONAL ACQUISITION OF SHARES OF SOUTH ASIAN CERAMIC TILES
ADDITIONAL ACQUISITION FOR CONSIDERATION OF ABOUT 51 MILLION RUPEES
Source text for Eikon: ID:nBSE2p1mKd
Further company coverage: KAJR.NS
(([email protected];))
Indian tile makers face slow domestic demand, but forecast improvement - brokerage
** Indian tile makers are facing sluggish domestic demand, but expect improvement in the coming months, brokerage Prabhudas Lilladher says in a note
** Brokerage maintains "accumulate" rating, PT 1,368 rupees on Kajaria Ceramics KAJR.NS, whose rivals include Somany Ceramics SOCE.NS and Cera Sanitaryware CERA.NS
** Retail demand hit by inflation, construction hold-ups due to costlier cement and iron ore delayed industrial demand - note
** Adds that Morbi players dialled down their annual volume forecasts for FY24 after reporting lower volumes in H1 of the fiscal
** Note says tilemakers in Gujarat's Morbi kept prices unchanged in the last half-yr despite 11%-12% rise in gas prices
** Presently, Morbi's power needs are met in 50:50 ratio between propane sources and city distributor Gujarat Gas GGAS.NS
** Buying trends shifting towards premium tiles, slab tiles gradually displacing marble and granite - note
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
** Indian tile makers are facing sluggish domestic demand, but expect improvement in the coming months, brokerage Prabhudas Lilladher says in a note
** Brokerage maintains "accumulate" rating, PT 1,368 rupees on Kajaria Ceramics KAJR.NS, whose rivals include Somany Ceramics SOCE.NS and Cera Sanitaryware CERA.NS
** Retail demand hit by inflation, construction hold-ups due to costlier cement and iron ore delayed industrial demand - note
** Adds that Morbi players dialled down their annual volume forecasts for FY24 after reporting lower volumes in H1 of the fiscal
** Note says tilemakers in Gujarat's Morbi kept prices unchanged in the last half-yr despite 11%-12% rise in gas prices
** Presently, Morbi's power needs are met in 50:50 ratio between propane sources and city distributor Gujarat Gas GGAS.NS
** Buying trends shifting towards premium tiles, slab tiles gradually displacing marble and granite - note
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
Kajaria Ceramics Says JV Co Kajaria Ramesh Tiles, Nepal Got Sanction Of Loan Of Amount Of 2.18 Billion Nepalese Rupees
Dec 5 (Reuters) - Kajaria Ceramics Ltd KAJR.NS:
JV CO KAJARIA RAMESH TILES, NEPAL GOT SANCTION OF LOAN OF AMOUNT OF 2.18 BILLION NEPALESE RUPEES
JV CO GOT SANCTION OF LOAN FROM CONSORTIUM OF NEPALESE BANKS
LOAN FOR SETTING UP MANUFACTURING FACILITY IN NEPAL
Source text for Eikon: ID:nBSE1qFsGG
Further company coverage: KAJR.NS
(([email protected];))
Dec 5 (Reuters) - Kajaria Ceramics Ltd KAJR.NS:
JV CO KAJARIA RAMESH TILES, NEPAL GOT SANCTION OF LOAN OF AMOUNT OF 2.18 BILLION NEPALESE RUPEES
JV CO GOT SANCTION OF LOAN FROM CONSORTIUM OF NEPALESE BANKS
LOAN FOR SETTING UP MANUFACTURING FACILITY IN NEPAL
Source text for Eikon: ID:nBSE1qFsGG
Further company coverage: KAJR.NS
(([email protected];))
India's Kajaria Ceramics misses Q2 profit view hit by weak tile demand
Adds analyst's comments in paragraph 5-6, updates stock move in paragraph 12
BENGALURU, Oct 20 (Reuters) - India's Kajaria Ceramics KAJR.NS reported weaker-than-expected second-quarter profit on Friday, hurt by sluggish domestic demand for tiles.
Consolidated net profit was 1.08 billion rupees ($13.00 million) in the quarter ended Sept 30, missing analysts' expectations of 1.22 billion rupees, according to LSEG data.
It had earned 698.6 million rupees a year earlier when it was hit by high gas prices and weak demand.
"Weakness (in demand) will continue for this year. There could be some uptick in the second-half of the year but for this year (volume)growth will be in single digits for Kajaria," said Praveen Sahay, research analyst at Prabhudas Lilladher.
He said demand is expected to improve from next year as the real-estate sector continues to do well.
Revenue from tiles grew a moderate 2.9% to 10.13 billion rupees.
Consolidated revenue from operations rose 4.1% to 11.22 billion rupees.
The company had in May projected revenue growth of 14-16% for this fiscal year.
Power and fuel expenses fell over 17% to 2.21 billion rupees as natural gas prices remained largely stable during the quarter.
Lower prices of natural gas aid the margins of ceramic product makers as they depend on fuel to power their tile kilns.
Shares of the company fell as much as 3.8% after the results.
($1 = 83.1055 Indian rupees)
(Reporting by Nishit Navin in Bengaluru; Editing by Dhanya Ann Thoppil)
(([email protected];))
Adds analyst's comments in paragraph 5-6, updates stock move in paragraph 12
BENGALURU, Oct 20 (Reuters) - India's Kajaria Ceramics KAJR.NS reported weaker-than-expected second-quarter profit on Friday, hurt by sluggish domestic demand for tiles.
Consolidated net profit was 1.08 billion rupees ($13.00 million) in the quarter ended Sept 30, missing analysts' expectations of 1.22 billion rupees, according to LSEG data.
It had earned 698.6 million rupees a year earlier when it was hit by high gas prices and weak demand.
"Weakness (in demand) will continue for this year. There could be some uptick in the second-half of the year but for this year (volume)growth will be in single digits for Kajaria," said Praveen Sahay, research analyst at Prabhudas Lilladher.
He said demand is expected to improve from next year as the real-estate sector continues to do well.
Revenue from tiles grew a moderate 2.9% to 10.13 billion rupees.
Consolidated revenue from operations rose 4.1% to 11.22 billion rupees.
The company had in May projected revenue growth of 14-16% for this fiscal year.
Power and fuel expenses fell over 17% to 2.21 billion rupees as natural gas prices remained largely stable during the quarter.
Lower prices of natural gas aid the margins of ceramic product makers as they depend on fuel to power their tile kilns.
Shares of the company fell as much as 3.8% after the results.
($1 = 83.1055 Indian rupees)
(Reporting by Nishit Navin in Bengaluru; Editing by Dhanya Ann Thoppil)
(([email protected];))
Kajaria Ceramics Agrees JV Between Kajaria International DMCC, U.A.E. And UK Parts (Holdings)
Sept 19 (Reuters) - Kajaria Ceramics Ltd KAJR.NS:
JOINT VENTURE AGREEMENT EXECUTED BETWEEN KAJARIA INTERNATIONAL DMCC, U.A.E. AND UK PARTS (HOLDINGS) LTD, UK
JV FOR TRADING & MARKETING BUSINESS OF GLAZED VITRIFIED TILES, POLISHED VITRIFIED TILES, OTHER ALLIED PRODUCTS IN UK
Source text for Eikon: ID:nBSE3jpJ9d
Further company coverage: KAJR.NS
(([email protected];))
Sept 19 (Reuters) - Kajaria Ceramics Ltd KAJR.NS:
JOINT VENTURE AGREEMENT EXECUTED BETWEEN KAJARIA INTERNATIONAL DMCC, U.A.E. AND UK PARTS (HOLDINGS) LTD, UK
JV FOR TRADING & MARKETING BUSINESS OF GLAZED VITRIFIED TILES, POLISHED VITRIFIED TILES, OTHER ALLIED PRODUCTS IN UK
Source text for Eikon: ID:nBSE3jpJ9d
Further company coverage: KAJR.NS
(([email protected];))
Kajaria Ceramics Approves Increase In Limits Of Investment By Co In Unit Kajaria International Dmcc (U.A.E.)
Aug 28 (Reuters) - Kajaria Ceramics Ltd KAJR.NS:
APPROVED INCREASE IN LIMITS OF INVESTMENT BY CO IN UNIT KAJARIA INTERNATIONAL DMCC (U.A.E.)
APPROVED INCREASE IN LIMITS OF INVESTMENT IN UNIT FROM 50 MILLION RUPEES TO 150 MILLION RUPEES
Source text for Eikon: ID:nBSE7MGdVM
Further company coverage: KAJR.NS
(([email protected];))
Aug 28 (Reuters) - Kajaria Ceramics Ltd KAJR.NS:
APPROVED INCREASE IN LIMITS OF INVESTMENT BY CO IN UNIT KAJARIA INTERNATIONAL DMCC (U.A.E.)
APPROVED INCREASE IN LIMITS OF INVESTMENT IN UNIT FROM 50 MILLION RUPEES TO 150 MILLION RUPEES
Source text for Eikon: ID:nBSE7MGdVM
Further company coverage: KAJR.NS
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Kajaria Ceramics Says Manufacturing Facility At Sikanderabad Commenced Commercial Production
Aug 11 (Reuters) - Kajaria Ceramics Ltd KAJR.NS:
MANUFACTURING FACILITY AT SIKANDERABAD (U.P.) COMMENCED COMMERCIAL PRODUCTION W.E.F. AUG 11, 2023
Source text for Eikon: ID:nBSE8dDzFs
Further company coverage: KAJR.NS
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Aug 11 (Reuters) - Kajaria Ceramics Ltd KAJR.NS:
MANUFACTURING FACILITY AT SIKANDERABAD (U.P.) COMMENCED COMMERCIAL PRODUCTION W.E.F. AUG 11, 2023
Source text for Eikon: ID:nBSE8dDzFs
Further company coverage: KAJR.NS
(([email protected];;))
India's Kajaria Ceramics Q1 Consol Net Profit Beats Estimates
July 26 (Reuters) - Kajaria Ceramics Ltd KAJR.NS:
Q1 CONSOL NET PROFIT 1.08 BILLION RUPEES; REFINITIV IBES EST. 1.05 BILLION RUPEES
Q1 CONSOL REVENUE FROM OPERATIONS 10.64 BILLION RUPEES
KAJARIA CERAMICS YEAR AGO Q1 NET PROFIT 923 MILLION RUPEES, REVENUE 10.08 BILLION RUPEES
APPROVED ADDITIONAL ACQUISITION UPTO 18% STAKE IN KAJARIA INFINITY FOR 163.9 MLN RUPEES
Source text for Eikon: ID:nBSE6RLlTh
Further company coverage: KAJR.NS
(([email protected];))
July 26 (Reuters) - Kajaria Ceramics Ltd KAJR.NS:
Q1 CONSOL NET PROFIT 1.08 BILLION RUPEES; REFINITIV IBES EST. 1.05 BILLION RUPEES
Q1 CONSOL REVENUE FROM OPERATIONS 10.64 BILLION RUPEES
KAJARIA CERAMICS YEAR AGO Q1 NET PROFIT 923 MILLION RUPEES, REVENUE 10.08 BILLION RUPEES
APPROVED ADDITIONAL ACQUISITION UPTO 18% STAKE IN KAJARIA INFINITY FOR 163.9 MLN RUPEES
Source text for Eikon: ID:nBSE6RLlTh
Further company coverage: KAJR.NS
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India's Kajaria Ceramics at 8-mnth high as brokerage starts coverage with 'buy'
** Shares of Kajaria Ceramics Ltd KAJR.NS rise as much as 2.12% to an eight-month high of 1,270 rupees
** Domestic brokerage firm Motilal Oswal Financial Services initiates coverage of ceramic tiles maker with a "buy" rating
** Target price at 1,490 rupees, implying upside of 20%
** Motilal estimates 30% compound annual growth rate in earnings over FY2023-FY2025
** Expects production capacity to rise 8.5% by FY2025; adds, strong growth levers in place for the company
** Rising market share in ceramics industry to aid revenue growth: Motilal
** Of the 26 analysts tracking KAJR, 23 have "buy," three "hold;" median TP is 1,310 rupees - Refinitiv IBES data
($1 = 81.7800 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
** Shares of Kajaria Ceramics Ltd KAJR.NS rise as much as 2.12% to an eight-month high of 1,270 rupees
** Domestic brokerage firm Motilal Oswal Financial Services initiates coverage of ceramic tiles maker with a "buy" rating
** Target price at 1,490 rupees, implying upside of 20%
** Motilal estimates 30% compound annual growth rate in earnings over FY2023-FY2025
** Expects production capacity to rise 8.5% by FY2025; adds, strong growth levers in place for the company
** Rising market share in ceramics industry to aid revenue growth: Motilal
** Of the 26 analysts tracking KAJR, 23 have "buy," three "hold;" median TP is 1,310 rupees - Refinitiv IBES data
($1 = 81.7800 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
India's Kajaria Ceramics March-Qtr Consol Net Profit Rises
May 16 (Reuters) - Kajaria Ceramics Ltd KAJR.NS:
INDIA'S KAJARIA CERAMICS LTD MARCH-QUARTER CONSOL NET PROFIT 1.08 BILLION VERSUS PROFIT 957.6 MILLION RUPEES
KAJARIA CERAMICS LTD MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 12.05 BILLION RUPEES VERSUS 11.02 BILLION RUPEES
DIVIDEND 3 RUPEES PER SHARE
APPROVED INVESTMENT UP TO 36.8 MILLION RUPEES IN SHARES OF SUNSURE SOLARPARK TWO FOR SOLAR POWER CAPTIVE CONSUMPTION
TO INCREASE LIMITS OF INVESTMENTS IN UNIT KAJARIA PLYWOOD TO 700 MLN RUPEES FROM 600 MLN RUPEES
Further company coverage: KAJR.NS
(([email protected];;))
May 16 (Reuters) - Kajaria Ceramics Ltd KAJR.NS:
INDIA'S KAJARIA CERAMICS LTD MARCH-QUARTER CONSOL NET PROFIT 1.08 BILLION VERSUS PROFIT 957.6 MILLION RUPEES
KAJARIA CERAMICS LTD MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 12.05 BILLION RUPEES VERSUS 11.02 BILLION RUPEES
DIVIDEND 3 RUPEES PER SHARE
APPROVED INVESTMENT UP TO 36.8 MILLION RUPEES IN SHARES OF SUNSURE SOLARPARK TWO FOR SOLAR POWER CAPTIVE CONSUMPTION
TO INCREASE LIMITS OF INVESTMENTS IN UNIT KAJARIA PLYWOOD TO 700 MLN RUPEES FROM 600 MLN RUPEES
Further company coverage: KAJR.NS
(([email protected];;))
India's Kajaria Ceramics gains 4% on block deal
** Shares of Kajaria Ceramics Ltd KAJR.NS rise as much as 4.63% to 1,138.80 rupees, a four-week high
** Stock is most active in six weeks, with trading volume at 863,842 shares as of 2:22 p.m. IST, quadruple the 30-day avg - Refinitiv data
** About 475,710 shares of KAJR change hands in a block at a price of 1,097.25 rupees per share
** Of the 26 analysts tracking KAJR, 23 maintain "buy", three suggest "hold"; median TP is 1,231 rupees - Refinitiv data
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463))
** Shares of Kajaria Ceramics Ltd KAJR.NS rise as much as 4.63% to 1,138.80 rupees, a four-week high
** Stock is most active in six weeks, with trading volume at 863,842 shares as of 2:22 p.m. IST, quadruple the 30-day avg - Refinitiv data
** About 475,710 shares of KAJR change hands in a block at a price of 1,097.25 rupees per share
** Of the 26 analysts tracking KAJR, 23 maintain "buy", three suggest "hold"; median TP is 1,231 rupees - Refinitiv data
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463))
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What does Kajaria Ceramics do?
Kajaria Ceramics Limited, the leader in Indian tile industry, offers a wide range of ceramic and vitrified tiles across all price points, leveraging cutting-edge technology for quality products.
Who are the competitors of Kajaria Ceramics?
Kajaria Ceramics major competitors are Cera Sanitaryware, Nitco, Carysil, Somany Ceramics, Asian Granito India, Orient Bell, Exxaro Tiles. Market Cap of Kajaria Ceramics is ₹12,737 Crs. While the median market cap of its peers are ₹1,752 Crs.
Is Kajaria Ceramics financially stable compared to its competitors?
Kajaria Ceramics seems to be financially stable compared to its competitors. The probability of it going bankrupt or facing a financial crunch seem to be lower than its immediate competitors.
Does Kajaria Ceramics pay decent dividends?
The company seems to pay a good stable dividend. Kajaria Ceramics latest dividend payout ratio is 45.29% and 3yr average dividend payout ratio is 44.44%
How has Kajaria Ceramics allocated its funds?
Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Cash & Short Term Investments
How strong is Kajaria Ceramics balance sheet?
Balance sheet of Kajaria Ceramics is strong. It shouldn't have solvency or liquidity issues.
Is the profitablity of Kajaria Ceramics improving?
The profit is oscillating. The profit of Kajaria Ceramics is ₹368 Crs for TTM, ₹422 Crs for Mar 2024 and ₹344 Crs for Mar 2023.
Is the debt of Kajaria Ceramics increasing or decreasing?
Yes, The debt of Kajaria Ceramics is increasing. Latest debt of Kajaria Ceramics is -₹274.54 Crs as of Sep-24. This is greater than Mar-24 when it was -₹857.23 Crs.
Is Kajaria Ceramics stock expensive?
Kajaria Ceramics is not expensive. Latest PE of Kajaria Ceramics is 35.95, while 3 year average PE is 50.19. Also latest EV/EBITDA of Kajaria Ceramics is 19.27 while 3yr average is 28.87.
Has the share price of Kajaria Ceramics grown faster than its competition?
Kajaria Ceramics has given better returns compared to its competitors. Kajaria Ceramics has grown at ~-8.54% over the last 3yrs while peers have grown at a median rate of -13.18%
Is the promoter bullish about Kajaria Ceramics?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Kajaria Ceramics is 47.48% and last quarter promoter holding is 47.48%.
Are mutual funds buying/selling Kajaria Ceramics?
The mutual fund holding of Kajaria Ceramics is decreasing. The current mutual fund holding in Kajaria Ceramics is 24.44% while previous quarter holding is 25.4%.