Kajaria Ceramics have cut prices by about 9-10 percent with effect from today, Ashok Kajaria, CMD of the company told CNBC-TV18.
As the economy gears up for the goods and services tax (GST), this change is expected to be a welcome one for the tiles industry by creating a seamless national market for the organised players resulting in the removal of interest rate barriers and an improvement in supply chain.
In an interview to CNBC-TV18, Ashok Kajaria, CMD of Kajaria Ceramics spoke about the results and his outlook for the company.
In an interview with CNBC-TV18, Ashok Kajaria said that despite missing street estimates the company has not lost its market share and seen a volume growth of 3 percent in Q2 despite the industry growth being negative.
In an interview to CNBC-TV18, Ashok Kajaria, CMD of Kajaria Ceramics spoke about the results and his outlook for the company.
Kajaria Ceramics did better than the guidance it had given for growth in volumes in the last quarter of financial year 2016. It had guided about 10 percent growth in volumes but performed better at 12 percent.
Speaking to CNBC-TV18, Ashok Kajaria said that Indian manufacturers can win back market share on the back of this reform and Kajaria‘s volume growth will be 2 percent higher due to this duty.
Anti-dumping duty imposed by the government is positive for the company. Expect Chinese tiles to become less competitive, says Vikram Somany, CMD, Cera Sanitaryware.
Speaking to CNBC-TV18, Ashok Kajaria, CMD of the company said that margin growth was aided by lower fuel cost. However, the volume growth was restricted due to the Chennai floods last, he added.
Ashok Kajaria, CMD, Kajaria Ceramics says says the industry has been suffering due to China‘s aggressive dumping of vitrified tiles in India since 2014 and is expecting anti-dumping duty decision to come by January-end.
Rate cut by the Reserve Bank and initiation of anti-dumping duty on vitrified tiles by the Ministry of Commerce will aid growth in coming quarters, Kajaria told CNBC-TV18.
In an interview with CNBC-TV18‘s Reema Tendulkar and Mangalam Maloo, Ashok Kajaria, CMD, Kajaria Ceramics, discussed the company‘s quarterly earnings.
Kajaria Ceramics reported its third quarter numbers in which it recorded volume growth of 24 percent.
Implementation of GST is sure to benefit the tile industry and in case the GST rate is pegged at 20% then would help bring down VAT and excise rates, said Ashok Kajaria, of Kajaria Ceramics.
In an interview with CNBC-TV18‘s Reema Tendulkar and Ekta Batra, CMD Ashok Kajaria spoke about the outlook for the full year and why the next seven-eight years look positive for the ceramics and sanitaryware industry as a whole.
Speaking to CNBC-TV18, Ashok Kajaria, chairman and managing director, Kajaria Ceramics, says the company's margins, however, are likely to be stable in the coming few quarters.
Speaking to CNBC-TV18, Kajaria says while Gujarat High Court‘s decision to switch to natural gas from coal is a long-term positive for the company, however, in the short-term the company will take a hit.
In three years, March 2013 to March 2016, Kajaria is projecting a turnover of almost Rs 3,000 crore plus and for that the company needs capex of approximately Rs 425-450 crore.
This quarter will be tough for Kajaria Ceramics because its gas prices are based in dollars. As a corrective step, it plans to raise prices from October 1 across all products.
In an interview to CNBC-TV18, Ashok Kajaria, chairman and managing director of Kajaria Ceramics says, the company will see 35% top-line growth for the full year—FY12.
Ashok Kajaria, CMD of Kajaria Ceramics, in an interview with CNBC-TV18’s Sonia Shenoy and Ekta Batra, gave his perspective of the fourth quarter performance and their divulged future plans.
In an interview with CNBC-TV18’s Gautam Broker and Latha Venkatesh where Ashok Kajaria, Chairman of Kajaria Ceramics spoke about the recent happenings in the company and the road ahead.