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Kajaria Ceramics Q2 PAT may dip 27.3% YoY to Rs. 86.7 cr: Yes Securities

Net Sales are expected to increase by 6.2 percent Y-o-Y (up 2.6 percent Q-o-Q) to Rs. 1,034.2 crore, according to Yes Securities.

October 14, 2022 / 10:10 AM IST
Kajaria Ceramics | CMP: Rs 1128.10 | The stock gained over 13 percent in the week gone by. The company's Q1 revenue grew 80% YoY down 8.5% QoQ spurred by a 15% (+2% QoQ) rise in tile realisations and 53% (-10% QoQ) volume growth. According to brokerage firm Sharekhan, the company reported a strong beat on net earnings for Q1FY2023 led by higher-than-expected revenue growth and operating margins. The management retained 15-20% y-o-y volume growth guidance for FY2023 although reframed from giving guidance on OPM due to volatility in gas prices. It acquired 51% stake in South Asian Ceramics having 4.8msm ceramic floor tiles capacity which would strengthen its presence in South. It has retained a buy rating on Kajaria Ceramics with a revised target of Rs 1300 on account of strong earnings growth led by market share gains.

Kajaria Ceramics | CMP: Rs 1128.10 | The stock gained over 13 percent in the week gone by. The company's Q1 revenue grew 80% YoY down 8.5% QoQ spurred by a 15% (+2% QoQ) rise in tile realisations and 53% (-10% QoQ) volume growth. According to brokerage firm Sharekhan, the company reported a strong beat on net earnings for Q1FY2023 led by higher-than-expected revenue growth and operating margins. The management retained 15-20% y-o-y volume growth guidance for FY2023 although reframed from giving guidance on OPM due to volatility in gas prices. It acquired 51% stake in South Asian Ceramics having 4.8msm ceramic floor tiles capacity which would strengthen its presence in South. It has retained a buy rating on Kajaria Ceramics with a revised target of Rs 1300 on account of strong earnings growth led by market share gains.

 
 
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Yes Securities has come out with its second quarter (July-September’ 22) earnings estimates for the Building Materials sector. The brokerage house expects Kajaria Ceramics to report net profit at Rs. 86.7 crore down 27.3% year-on-year (down 6.7% quarter-on-quarter).

Net Sales are expected to increase by 6.2 percent Y-o-Y (up 2.6 percent Q-o-Q) to Rs. 1,034.2 crore, according to Yes Securities.

Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to fall by 454 percent Y-o-Y (down 123 percent Q-o-Q) to Rs. 144.8 crore.

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