Kajaria Ceramics

₹1265.1 -18.2 | 1.4%

WEBSITE BSE:500233 NSE : KAJARIA CER. 09 Jun, 13:35

Market Cap ₹20223 Cr.

Stock P/E 58.5

P/B 8.7

Current Price ₹1265.1

Book Value ₹ 146.1

Face Value 1

52W High ₹1304.2

Dividend Yield 0.71%

52W Low ₹ 898

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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Price

Price: NSE50 DMA200 DMAVolume

Quarterly Price

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Peer Comparison

Kajaria Ceramics Quarterly Results

#(Fig in Cr.)	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Net Sales	838	953	562	974	1068	1102	1008	1078	1091	1205
Other Income	6	7	6	7	7	7	8	8	7	10
Total Income	845	960	568	981	1076	1109	1016	1085	1099	1215
Total Expenditure	657	762	481	793	884	936	855	948	958	1029
Operating Profit	188	198	86	188	191	173	162	137	141	186
Interest	3	3	3	3	3	4	4	3	8	7
Depreciation	28	27	27	28	28	33	32	34	33	34
Exceptional Income / Expenses	0	0	0	0	0	0	0	-4	0	-4
Profit Before Tax	158	169	57	157	160	136	126	97	100	141
Provision for Tax	37	38	15	37	35	39	33	28	26	30
Profit After Tax	121	131	41	119	125	97	93	69	74	111
Adjustments	-2	-4	2	-3	-3	-1	-1	1	1	-3
Profit After Adjustments	119	127	43	116	122	96	92	70	74	108
Adjusted Earnings Per Share	7.5	8	2.7	7.3	7.7	6	5.8	4.4	4.7	6.8

Kajaria Ceramics Profit & Loss

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	TTM
Net Sales	1313	1583	1836	2187	2413	2550	2711	2956	2808	2781	3705	4382
Other Income	1	3	2	7	10	15	11	18	24	21	28	33
Total Income	1315	1586	1838	2194	2424	2565	2721	2974	2832	2802	3733	4415
Total Expenditure	1107	1338	1551	1833	1956	2053	2254	2507	2392	2272	3095	3790
Operating Profit	208	249	288	361	468	512	467	468	440	530	638	626
Interest	49	46	41	29	34	34	24	16	20	11	13	22
Depreciation	39	45	47	56	73	81	89	89	108	107	115	133
Exceptional Income / Expenses	0	0	0	-6	0	0	1	-5	0	0	0	-8
Profit Before Tax	120	158	199	270	361	396	355	358	312	413	510	464
Provision for Tax	38	50	68	85	125	142	127	129	59	104	127	117
Profit After Tax	82	108	131	185	236	254	229	229	254	309	383	347
Adjustments	-1	-3	-7	-9	-5	-1	6	-2	2	-1	-6	-2
Profit After Adjustments	81	105	124	176	231	253	235	227	255	308	377	344
Adjusted Earnings Per Share	5.5	7.1	8.2	11.1	14.5	15.9	14.8	14.2	16.1	19.4	23.7	21.7

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	33%	8%	8%	11%
Operating Profit CAGR	20%	11%	4%	12%
PAT CAGR	24%	19%	9%	17%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	33%	50%	19%	26%
ROE Average	19%	17%	17%	24%
ROCE Average	25%	22%	23%	29%

Kajaria Ceramics Balance Sheet

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Shareholder's Funds	282	361	530	741	972	1175	1351	1575	1714	1869	2122
Minority's Interest	7	28	41	62	76	76	66	66	64	65	65
Borrowings	92	89	85	96	142	116	59	31	22	31	24
Other Non-Current Liabilities	71	74	80	89	104	119	118	113	121	101	116
Total Current Liabilities	468	538	497	644	724	554	546	587	517	460	659
Total Liabilities	920	1090	1233	1633	2019	2040	2140	2372	2437	2525	2986
Fixed Assets	521	620	692	860	1121	1177	1145	1078	1195	1192	1150
Other Non-Current Assets	16	27	69	119	37	41	41	121	55	40	385
Total Current Assets	383	443	473	654	861	822	951	1171	1188	1293	1451
Total Assets	920	1090	1233	1633	2019	2040	2140	2372	2437	2525	2986

Kajaria Ceramics Cash Flow

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Opening Cash & Cash Equivalents	3	3	3	5	10	20	50	80	22	16	25
Cash Flow from Operating Activities	91	98	166	180	316	338	238	317	224	509	426
Cash Flow from Investing Activities	-69	-150	-151	-263	-267	-140	-137	-261	-90	-296	-298
Cash Flow from Financing Activities	-19	53	-13	87	-39	-168	-72	-114	-140	-205	-120
Net Cash Inflow / Outflow	3	0	2	5	10	30	30	-58	-6	9	7
Closing Cash & Cash Equivalent	6	3	5	10	20	50	80	22	16	25	32

Kajaria Ceramics Ratios

#	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Earnings Per Share (Rs)	5.5	7.1	8.22	11.05	14.52	15.91	14.78	14.25	16.06	19.36	23.68
CEPS(Rs)	8.23	10.36	11.8	15.15	19.43	21.1	19.95	19.99	22.74	26.12	31.29
DPS(Rs)	1.25	1.5	1.75	2	2.5	3	3	3	3	10	11
Book NAV/Share(Rs)	19.17	24.52	33.34	46.63	60.94	73.78	84.47	98.61	107.47	117.24	133.2
Core EBITDA Margin(%)	14.65	14.15	14.12	14.65	16.93	17.39	16.4	15.2	14.81	17.52	15.81
EBIT Margin(%)	11.97	11.76	11.89	12.4	14.63	15.07	13.64	12.64	11.82	14.58	13.53
Pre Tax Margin(%)	8.51	9.09	9.84	11.18	13.35	13.88	12.77	12.11	11.13	14.21	13.2
PAT Margin (%)	5.81	6.22	6.49	7.65	8.74	8.89	8.22	7.74	9.03	10.64	9.91
Cash Profit Margin (%)	8.6	8.79	8.81	9.96	11.42	11.74	11.4	10.75	12.88	14.31	12.89
ROA(%)	9.36	10.73	11.31	12.9	12.93	12.51	10.94	10.14	10.54	12.45	13.89
ROE(%)	32.44	33.54	30.37	29.7	27.63	23.71	18.18	15.72	15.48	17.29	19.21
ROCE(%)	31.49	32.86	33.26	34.25	35.14	32.43	26.11	23.27	18.78	22.23	24.79
Receivable days	27.62	27.62	27.82	28.08	32.5	39.19	51.79	57.15	56.66	52.06	44.64
Inventory Days	44.19	42.73	37.23	37.47	46.43	48.35	49.22	48.42	59.7	55.67	39.63
Payable days	96.98	93.67	81.34	95.87	129.45	127.12	96.73	92.44	101.07	71.18	65.91
PER(x)	15.49	13.54	21.21	36.35	32.82	36.76	38.37	41.45	23.45	47.73	42.99
Price/Book(x)	4.44	3.92	5.23	8.61	7.82	7.93	6.71	5.99	3.5	7.88	7.64
Dividend Yield(%)	1.47	1.56	1	0.5	0.52	0.51	0.53	0.51	0.8	1.08	1.08
EV/Net Sales(x)	1.16	1.09	1.56	3.02	3.25	3.71	3.36	3.13	2.1	5.16	4.29
EV/Core EBITDA(x)	7.33	6.96	9.96	18.3	16.76	18.48	19.49	19.81	13.39	27.09	24.92
Net Sales Growth(%)	37.74	20.58	15.98	19.09	10.36	5.64	6.31	9.06	-5.01	-0.97	33.24
EBIT Growth(%)	41.05	20.97	18	24.54	31.88	8.86	-11.82	-1.53	-11.15	27.56	23.49
PAT Growth(%)	34.86	31.75	21.8	40.77	27.7	7.5	-9.93	0.07	10.83	21.84	23.9
EPS Growth(%)	33.43	29.21	15.69	34.51	31.35	9.61	-7.12	-3.57	12.69	20.57	22.3
Debt/Equity(x)	0.99	0.89	0.47	0.33	0.3	0.18	0.13	0.08	0.08	0.05	0.06
Current Ratio(x)	0.82	0.82	0.95	1.02	1.19	1.48	1.74	2	2.3	2.81	2.2
Quick Ratio(x)	0.42	0.42	0.56	0.54	0.66	0.81	1.05	1.3	1.31	2	1.5
Interest Cover(x)	3.46	4.41	5.8	10.2	11.47	12.66	15.74	23.97	17.01	39.54	41.08
Total Debt/Mcap(x)	0.22	0.23	0.09	0.04	0.04	0.02	0.02	0.01	0.02	0.01	0.01

Kajaria Ceramics Shareholding Pattern

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	47.54	47.54	47.54	47.51	47.51	47.5	47.5	47.49	47.49	47.49
FII	23.68	25.25	25.09	24.89	22.45	21.27	19.58	19.44	18.57	16.9
DII	15.75	14.46	14.9	15.24	17.27	20.32	22.4	22.82	24.5	26.24
Public	13.03	12.75	12.48	12.36	12.77	10.91	10.52	10.25	9.44	9.37
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	7.56	7.56	7.56	7.56	7.56	7.56	7.56	7.56	7.56	7.56
FII	3.77	4.02	3.99	3.96	3.57	3.39	3.12	3.1	2.96	2.69
DII	2.51	2.3	2.37	2.43	2.75	3.23	3.57	3.63	3.9	4.18
Public	2.07	2.03	1.99	1.97	2.03	1.74	1.67	1.63	1.5	1.49
Others	0	0	0	0	0	0	0	0	0	0
Total	15.91	15.91	15.91	15.92	15.92	15.92	15.92	15.92	15.92	15.92

Pros

Debtor days have improved from 71.18 to 65.91days.
Company has reduced debt.
Company is almost debt free.

Cons

Promoter holding is low: 47.49%.
Stock is trading at 8.7 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.