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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

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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