Buy Kajaria Ceramics; target of Rs 950: ICICI Direct

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Kajaria Ceramics performance was strong across topline & bottomline. The sales volumes were up 10.5% YoY at 22.6 MSM, as utilisation got back to full levels coupled with strong outsourced sales driven by robust rebound in demand. The topline was up 13.1% YoY at Rs 838.4 crore with stable realisations (up 0.3% YoY). Tiles Revenues were up 10.9% YoY at Rs 758.2 crore. Faucet and Sanitaryware revenues were up 36% YoY at Rs 67.4 crore. Plywood revenues were up 57.6% YoY at Rs 12.8 crore, on a low base. EBITDA at Rs 181.8 crore with margins at 21.7% were up 667 bps YoY driven by lower other expenses and operating leverage. The beat at operating level percolated to PAT wherein it reported a Rs 118.9 crore, up 93% YoY

We maintain BUY and roll over our valuations to FY23E at 29x P/E (vs. 30x FY22E P/E, earlier) to ascribe revised target price of Rs 950/share.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Read More