Kajaria Ceramics

₹1312.2 -1.5 | 0.1%

WEBSITE BSE:500233 NSE : KAJARIA CER. 28 Nov, 16:01

Market Cap ₹20898 Cr.

Stock P/E 52.5

P/B 8.3

Current Price ₹1312.2

Book Value ₹ 157.2

Face Value 1

52W High ₹1522

Dividend Yield 0.69%

52W Low ₹ 1006.4

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.)	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
Net Sales	562	974	1068	1102	1008	1078	1091	1205	1064	1122
Other Income	6	7	7	7	8	8	7	10	9	8
Total Income	568	981	1076	1109	1016	1085	1099	1215	1073	1130
Total Expenditure	481	793	884	936	855	948	958	1029	895	942
Operating Profit	86	188	191	173	162	137	141	186	178	188
Interest	3	3	3	4	4	3	8	7	5	4
Depreciation	27	28	28	33	32	34	33	34	31	36
Exceptional Income / Expenses	0	0	0	0	0	-4	0	-4	0	0
Profit Before Tax	57	157	160	136	126	97	100	141	143	148
Provision for Tax	15	37	35	39	33	28	26	30	34	37
Profit After Tax	41	119	125	97	93	69	74	111	109	111
Adjustments	2	-3	-3	-1	-1	1	1	-3	-2	-3
Profit After Adjustments	43	116	122	96	92	70	74	108	108	108
Adjusted Earnings Per Share	2.7	7.3	7.7	6	5.8	4.4	4.7	6.8	6.7	6.8

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	4482
Other Income	3	2	7	10	15	11	18	24	21	28	34	34
Total Income	1586	1838	2194	2424	2565	2721	2974	2832	2802	3733	4416	4517
Total Expenditure	1338	1551	1833	1956	2053	2254	2507	2392	2272	3095	3790	3824
Operating Profit	249	288	361	468	512	467	468	440	530	638	626	693
Interest	46	41	29	34	34	24	16	20	11	13	22	24
Depreciation	45	47	56	73	81	89	89	108	107	115	133	134
Exceptional Income / Expenses	0	0	-6	0	0	1	-5	0	0	0	-8	-4
Profit Before Tax	158	199	270	361	396	355	358	312	413	510	462	532
Provision for Tax	50	68	85	125	142	127	129	59	104	127	116	127
Profit After Tax	108	131	185	236	254	229	229	254	309	383	346	405
Adjustments	-3	-7	-9	-5	-1	6	-2	2	-1	-6	-2	-7
Profit After Adjustments	105	124	176	231	253	235	227	255	308	377	345	398
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	25

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	12%	25%	23%	27%
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	41	121	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	84.47	98.61	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	14.81	17.52	15.81	12.96
EBIT Margin(%)	11.76	11.89	12.4	14.63	15.07	13.64	12.64	11.82	14.58	13.53	10.61
Pre Tax Margin(%)	9.09	9.84	11.18	13.35	13.88	12.77	12.11	11.13	14.21	13.2	10.12
PAT Margin (%)	6.22	6.49	7.65	8.74	8.89	8.22	7.74	9.03	10.64	9.91	7.58
Cash Profit Margin (%)	8.79	8.81	9.96	11.42	11.74	11.4	10.75	12.88	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	18.18	15.72	15.48	17.29	19.21	15.6
ROCE(%)	32.86	33.26	34.25	35.14	32.43	26.11	23.27	18.78	22.23	24.79	20.26
Receivable days	27.62	27.82	28.08	32.5	39.19	51.79	57.15	56.66	52.06	44.64	44.52
Inventory Days	42.73	37.23	37.47	46.43	48.35	49.22	48.42	59.7	55.67	39.63	41.17
Payable days	93.67	81.34	95.87	129.45	127.12	96.73	92.44	101.07	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	6.71	5.99	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	18.3	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	24.54	31.88	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	10.2	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

#	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
Promoter	47.54	47.51	47.51	47.5	47.5	47.49	47.49	47.49	47.49	47.49
FII	25.09	24.89	22.45	21.27	19.58	19.44	18.57	16.9	17.96	18.48
DII	14.9	15.24	17.27	20.32	22.4	22.82	24.5	26.24	25.22	25.45
Public	12.48	12.36	12.77	10.91	10.52	10.25	9.44	9.37	9.34	8.59
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
Promoter	7.56	7.56	7.56	7.56	7.56	7.56	7.56	7.56	7.56	7.56
FII	3.99	3.96	3.57	3.39	3.12	3.1	2.96	2.69	2.86	2.94
DII	2.37	2.43	2.75	3.23	3.57	3.63	3.9	4.18	4.02	4.05
Public	1.99	1.97	2.03	1.74	1.67	1.63	1.5	1.49	1.49	1.37
Others	0	0	0	0	0	0	0	0	0	0
Total	15.91	15.92	15.92	15.92	15.92	15.92	15.92	15.92	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 8.3 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.