Kajaria Ceramics

₹1179 -2.5 | 0.2%

WEBSITE BSE:500233 NSE : KAJARIA CER. 10 May, 16:01

Market Cap ₹18777 Cr.

Stock P/E 44.5

P/B 7.2

Current Price ₹1179

Book Value ₹ 164.3

Face Value 1

52W High ₹1522

Dividend Yield 1.02%

52W Low ₹ 1111

Edit Ratio

Kajaria Ceramics Research see more...

Overview Inc. Year: 1985Industry: Ceramics/Marble/Granite/Sanitaryware

Kajaria Ceramics Ltd is engaged in production ceramic/vitrified tiles in India. Its segments comprises Tiles and Others. The Tiles section consists of manufacturing and trading of ceramic and vitrified wall and floor tiles. The Others section includes production of sanitaryware and faucet and trading of plywood and block board. Its product category includes glazed vitrified tiles, ceramic tiles, and polished vitrified tiles. Its wall tiles consists of bathroom wall tiles, kitchen wall tiles, outside wall titles, residing room wall titles, bed room wall titles, and wall titles for industrial spaces. Its floor titles include residing room floor titles, outdoor ground titles, bed room floor titles, kitchen floor titles, lavatory ground titles and ground tiles for business areas. It has 8 manufacturing plants, which consist of Sikandrabad in Uttar Pradesh, Gailpur and Malootana in Rajasthan, Vijayawada and Srikalahasti in Andhra Pradesh and 3 plants in Gujarat.

Kajaria Ceramics Share Price

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Peer Comparison

Kajaria Ceramics Quarterly Results

#(Fig in Cr.)	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Net Sales	1068	1102	1008	1078	1091	1205	1064	1122	1152	1241
Other Income	7	7	8	8	7	10	9	8	11	17
Total Income	1076	1109	1016	1085	1099	1215	1073	1130	1163	1258
Total Expenditure	884	936	855	948	958	1029	895	942	973	1069
Operating Profit	191	173	162	137	141	186	178	188	190	189
Interest	3	4	4	3	8	7	5	4	5	7
Depreciation	28	33	32	34	33	34	31	36	39	42
Exceptional Income / Expenses	0	0	0	-4	0	-4	0	0	0	0
Profit Before Tax	160	136	126	97	100	141	143	148	146	140
Provision for Tax	35	39	33	28	26	30	34	37	38	35
Profit After Tax	125	97	93	69	74	111	109	111	108	105
Adjustments	-3	-1	-1	1	1	-3	-2	-3	-4	-3
Profit After Adjustments	122	96	92	70	74	108	108	108	104	102
Adjusted Earnings Per Share	7.7	6	5.8	4.4	4.7	6.8	6.7	6.8	6.5	6.4

Kajaria Ceramics Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	1583	1836	2187	2413	2550	2711	2956	2808	2781	3705	4382	4579
Other Income	3	2	9	10	15	11	18	24	21	28	34	45
Total Income	1586	1838	2196	2424	2565	2721	2974	2832	2802	3733	4416	4624
Total Expenditure	1338	1551	1833	1956	2053	2254	2507	2392	2272	3095	3790	3879
Operating Profit	249	288	363	468	512	467	468	440	530	638	626	745
Interest	46	41	31	34	34	24	16	20	11	13	22	21
Depreciation	45	47	56	73	81	89	89	108	107	115	133	148
Exceptional Income / Expenses	0	0	-6	0	0	1	-5	0	0	0	-8	0
Profit Before Tax	158	199	270	361	396	355	358	312	413	510	462	577
Provision for Tax	50	68	85	125	142	127	129	59	104	127	116	144
Profit After Tax	108	131	185	236	254	229	229	254	309	383	346	433
Adjustments	-3	-7	-9	-5	-1	6	-2	2	-1	-6	-2	-12
Profit After Adjustments	105	124	176	231	253	235	227	255	308	377	345	422
Adjusted Earnings Per Share	7.1	8.2	11.1	14.5	15.9	14.8	14.2	16.1	19.4	23.7	21.6	26.4

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	18%	16%	10%	11%
Operating Profit CAGR	-2%	12%	6%	10%
PAT CAGR	-10%	11%	9%	12%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	3%	10%	15%	17%
ROE Average	16%	17%	17%	22%
ROCE Average	20%	22%	22%	28%

Kajaria Ceramics Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	361	530	741	972	1175	1351	1575	1714	1869	2122	2327
Minority's Interest	28	41	62	76	76	66	66	64	65	65	78
Borrowings	89	85	96	142	116	59	31	22	31	24	52
Other Non-Current Liabilities	74	80	89	104	119	118	113	121	101	116	123
Total Current Liabilities	538	497	644	724	554	546	587	517	460	659	710
Total Liabilities	1090	1233	1633	2019	2040	2140	2372	2437	2525	2986	3328
Fixed Assets	620	692	860	1121	1177	1145	1078	1195	1192	1150	1447
Other Non-Current Assets	27	69	119	37	41	44	123	55	40	385	195
Total Current Assets	443	473	654	861	822	951	1171	1188	1293	1451	1611
Total Assets	1090	1233	1633	2019	2040	2140	2372	2437	2525	2986	3328

Kajaria Ceramics Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	3	3	5	10	20	50	80	22	16	25	32
Cash Flow from Operating Activities	98	166	180	316	338	238	317	224	509	426	296
Cash Flow from Investing Activities	-150	-151	-263	-267	-140	-137	-261	-90	-296	-298	-184
Cash Flow from Financing Activities	53	-13	87	-39	-168	-72	-114	-140	-205	-120	-135
Net Cash Inflow / Outflow	0	2	5	10	30	30	-58	-6	9	7	-23
Closing Cash & Cash Equivalent	3	5	10	20	50	80	22	16	25	32	11

Kajaria Ceramics Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	7.1	8.22	11.05	14.52	15.91	14.78	14.25	16.06	19.36	23.68	21.64
CEPS(Rs)	10.36	11.8	15.15	19.43	21.1	19.95	19.99	22.74	26.12	31.29	30.09
DPS(Rs)	1.5	1.75	2	2.5	3	3	3	3	10	11	9
Book NAV/Share(Rs)	24.52	33.34	46.63	60.94	73.78	84.66	98.73	107.47	117.24	133.2	145.6
Core EBITDA Margin(%)	14.15	14.12	14.65	16.93	17.39	16.4	15.2	14.11	17.52	15.81	12.96
EBIT Margin(%)	11.76	11.89	12.46	14.63	15.07	13.64	12.64	11.26	14.58	13.53	10.61
Pre Tax Margin(%)	9.09	9.84	11.18	13.35	13.88	12.77	12.11	10.6	14.21	13.2	10.12
PAT Margin (%)	6.22	6.49	7.65	8.74	8.89	8.22	7.74	8.6	10.64	9.91	7.58
Cash Profit Margin (%)	8.79	8.81	9.96	11.42	11.74	11.4	10.75	12.27	14.31	12.89	10.49
ROA(%)	10.73	11.31	12.9	12.93	12.51	10.94	10.14	10.54	12.45	13.89	10.97
ROE(%)	33.54	30.37	29.7	27.63	23.71	18.15	15.69	15.47	17.29	19.21	15.6
ROCE(%)	32.86	33.26	34.44	35.14	32.43	26.08	23.23	18.77	22.23	24.79	20.26
Receivable days	27.62	27.82	28.08	32.5	39.19	51.79	57.15	53.96	52.06	44.64	44.52
Inventory Days	42.73	37.23	37.47	46.43	48.35	49.22	48.42	56.86	55.67	39.63	41.17
Payable days	93.67	81.34	95.87	129.45	127.12	96.73	82.32	83.35	71.18	65.91	68.31
PER(x)	13.54	21.21	36.35	32.82	36.76	38.37	41.45	23.45	47.73	42.99	48.71
Price/Book(x)	3.92	5.23	8.61	7.82	7.93	6.7	5.98	3.5	7.88	7.64	7.24
Dividend Yield(%)	1.56	1	0.5	0.52	0.51	0.53	0.51	0.8	1.08	1.08	0.85
EV/Net Sales(x)	1.09	1.56	3.02	3.25	3.71	3.36	3.13	2.1	5.16	4.29	3.79
EV/Core EBITDA(x)	6.96	9.96	18.22	16.76	18.48	19.49	19.81	13.39	27.09	24.92	26.53
Net Sales Growth(%)	20.58	15.98	19.09	10.36	5.64	6.31	9.06	-5.01	-0.97	33.24	18.26
EBIT Growth(%)	20.97	18	25.23	31.16	8.86	-11.82	-1.53	-11.15	27.56	23.49	-7.29
PAT Growth(%)	31.75	21.8	40.77	27.7	7.5	-9.93	0.07	10.83	21.84	23.9	-9.55
EPS Growth(%)	29.21	15.69	34.51	31.35	9.61	-7.12	-3.57	12.69	20.57	22.3	-8.62
Debt/Equity(x)	0.89	0.47	0.33	0.3	0.18	0.13	0.08	0.08	0.05	0.06	0.09
Current Ratio(x)	0.82	0.95	1.02	1.19	1.48	1.74	2	2.3	2.81	2.2	2.27
Quick Ratio(x)	0.42	0.56	0.54	0.66	0.81	1.05	1.3	1.31	2	1.5	1.47
Interest Cover(x)	4.41	5.8	9.71	11.47	12.66	15.74	23.97	17.01	39.54	41.08	21.72
Total Debt/Mcap(x)	0.23	0.09	0.04	0.04	0.02	0.02	0.01	0.02	0.01	0.01	0.01

Kajaria Ceramics Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	47.51	47.5	47.5	47.49	47.49	47.49	47.49	47.49	47.49	47.49
FII	22.45	21.27	19.58	19.44	18.57	16.9	17.96	18.48	18.32	19.18
DII	17.27	20.32	22.4	22.82	24.5	26.24	25.22	25.45	25.54	24.92
Public	12.77	10.91	10.52	10.25	9.44	9.37	9.34	8.59	8.65	8.42
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	7.56	7.56	7.56	7.56	7.56	7.56	7.56	7.56	7.56	7.56
FII	3.57	3.39	3.12	3.1	2.96	2.69	2.86	2.94	2.92	3.05
DII	2.75	3.23	3.57	3.63	3.9	4.18	4.02	4.05	4.07	3.97
Public	2.03	1.74	1.67	1.63	1.5	1.49	1.49	1.37	1.38	1.34
Others	0	0	0	0	0	0	0	0	0	0
Total	15.92	15.92	15.92	15.92	15.92	15.92	15.93	15.93	15.93	15.93

Pros

Company is almost debt free.

Cons

Promoter holding is low: 47.49%.
Debtor days have increased from 65.91 to 68.31days.
Stock is trading at 7.2 times its book value.
The company has delivered a poor profit growth of 8% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Kajaria Ceramics Research see more...

Overview Inc. Year: 1985Industry: Ceramics/Marble/Granite/Sanitaryware

Kajaria Ceramics Share Price

Alert Data

Quarterly Price

Peer Comparison

Kajaria Ceramics Quarterly Results

Kajaria Ceramics Profit & Loss

Growth Rates

Kajaria Ceramics Balance Sheet

Kajaria Ceramics Cash Flow

Kajaria Ceramics Ratios

Kajaria Ceramics Shareholding Pattern

Kajaria Ceramics News

Top Unlisted Companies & InstaBuy Companies

Merino Industries

IPO

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