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    HomeNewsBusinessStocksBuy Kajaria Ceramics; target of Rs 1310: HDFC Securities

    Buy Kajaria Ceramics; target of Rs 1310: HDFC Securities

    HDFC Securities is bullish on Kajaria Ceramics has recommended buy rating on the stock with a target price of Rs 1310 in its research report dated May 17, 2023.

    Broker Research
    May 19, 2023 / 07:30 IST
    Buy
       
       
      26 Aug, 2025 12:21
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      HDFC Securities' research report on Kajaria Ceramics

      We believe KJC will continue to get a premium valuation, driven by its strong brand positioning and distribution, which are driving its market share gain. Gas price cool-off should also lead to a margin rebound in FY24E. In Q4FY23, KJC delivered a healthy 8% YoY tiles volume growth (5-year CAGR: +7%). Gas price correction drove 240bps EBITDA margin recovery QoQ to 14.6%.

      Outlook

      We maintain BUY on Kajaria Ceramics (KJC) with an unchanged target price of INR 1,310/share (21x its Mar’25E consolidated EBITDA, 35x implied PE).

      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.

      Kajaria Ceramics - 18 -05 - 2023 - prabhu
      Broker Research
      first published: May 19, 2023 07:29 am

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