Hold Kajaria Ceramics; target of Rs 725: ICICI Direct

ICICI Direct recommended hold rating on Kajaria Ceramics with a target price of Rs 725 in its research report dated May 19, 2017.

May 23, 2017 / 15:30 IST

26 Aug, 2025 12:21

Volume

Todays L/H

ICICI Direct's research report onKajaria Ceramics

Kajaria Ceramics’ (Kajaria) topline grew 9.9% YoY to Rs 719.7 crore marginally better than our estimate of Rs 689.1 crore mainly on account of volume growth of 10.9% to 19.3 million square metre (MSM) vs. our expectation of volume of 18.2 MSM.

Outlook

However, post the recent rally in the stock (up 21.5% in three months), we see limited upside. Hence, we continue to maintain our HOLD rating with revised TP of Rs 725 (30x FY19E EPS).

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first published: May 23, 2017 03:30 pm

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