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    Kajaria Ceramics has the right levers working for it

    The earnings quality, market leadership, and a robust business model make the Kajaria stock an ideal holding for long-term investors

    Sachin Pal
    December 23, 2022 / 12:39 PM IST
    Kajaria Ceramics has the right levers working for it

    (Representative image)

    PRO Only Highlights
    -      Quarterly performance largely backed by improved realisations
    -      Medium-term triggers China plus and protectionist measures for tyre industry
    -      Valuations not inexpensive; but improved medium-term outlook

    Highlights Quarterly tiles volumes came in flat YoY Upward revision in natural gas prices to hurt H2 margins New capacities to drive volumes in coming years Planning to enter Nepal through JV Trading at 37 times FY24 estimated earnings Kajaria Ceramics, the largest tile manufacturer in the country, continues to demonstrate robust profitability and solid execution in tough market conditions.  The management is hopeful of demand revival and expects the company to deliver healthy double-digit volume growth in the second half of the current fiscal...

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