Kajaria Ceramics Ltd

Kajaria Ceramics Ltd

₹ 1,155 0.69%
28 Mar 4:09 p.m.
About

Kajaria Ceramics Ltd is primarily engaged in manufacturing and trading of ceramic and vitrified tiles in India.[1] It is the largest manufacturer of ceramic/ vitrified tiles in India and 8th largest in the world.[2]

Key Points

Product Portfolio
The company's product portfolio mainly includes ceramic wall & floor tiles, polished & glazed vitrified tiles, bathware solutions and plywood & laminates.[1] In FY22, tiles accounted for ~91% of revenues while the rest of products accounted for ~9% of revenues.[2]

  • Market Cap 18,388 Cr.
  • Current Price 1,155
  • High / Low 1,524 / 1,022
  • Stock P/E 42.7
  • Book Value 157
  • Dividend Yield 0.78 %
  • ROCE 19.7 %
  • ROE 15.8 %
  • Face Value 1.00

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 46.6%

Cons

  • Stock is trading at 7.35 times its book value

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
838 953 562 974 1,068 1,102 1,008 1,078 1,091 1,205 1,064 1,122 1,152
657 762 481 793 884 936 855 948 958 1,029 895 942 973
Operating Profit 182 191 80 180 184 166 154 129 133 176 169 179 178
OPM % 22% 20% 14% 19% 17% 15% 15% 12% 12% 15% 16% 16% 16%
6 7 6 7 7 7 8 4 7 6 9 8 11
Interest 3 3 3 3 3 4 4 3 8 7 5 4 5
Depreciation 28 27 27 28 28 33 32 34 33 34 31 36 39
Profit before tax 158 169 57 157 160 136 126 97 100 140 143 147 146
Tax % 23% 22% 27% 24% 22% 29% 26% 29% 26% 21% 24% 25% 26%
121 131 41 119 125 97 93 69 74 111 109 111 108
EPS in Rs 7.48 7.99 2.71 7.30 7.67 6.01 5.80 4.39 4.67 6.78 6.75 6.78 6.54
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,313 1,583 1,836 2,187 2,413 2,550 2,711 2,956 2,808 2,781 3,705 4,382 4,542
1,105 1,336 1,550 1,831 1,950 2,049 2,253 2,501 2,391 2,266 3,093 3,789 3,839
Operating Profit 208 247 287 355 463 500 457 455 417 515 612 593 703
OPM % 16% 16% 16% 16% 19% 20% 17% 15% 15% 19% 17% 14% 15%
-0 1 1 0 5 11 11 8 23 15 26 25 35
Interest 49 46 41 29 34 34 24 16 20 11 13 22 22
Depreciation 39 45 47 56 73 81 89 89 108 107 115 133 140
Profit before tax 120 158 199 270 361 396 355 358 312 413 510 462 576
Tax % 32% 32% 34% 32% 35% 36% 36% 36% 19% 25% 25% 25%
82 108 131 185 236 254 229 229 254 309 383 346 439
EPS in Rs 5.50 7.11 8.22 11.05 14.56 15.91 14.78 14.25 16.06 19.36 23.68 21.64 26.85
Dividend Payout % 23% 21% 21% 18% 17% 19% 20% 21% 19% 52% 46% 42%
Compounded Sales Growth
10 Years: 11%
5 Years: 10%
3 Years: 16%
TTM: 6%
Compounded Profit Growth
10 Years: 13%
5 Years: 9%
3 Years: 11%
TTM: 29%
Stock Price CAGR
10 Years: 21%
5 Years: 14%
3 Years: 9%
1 Year: 12%
Return on Equity
10 Years: 19%
5 Years: 17%
3 Years: 17%
Last Year: 16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 15 15 15 16 16 16 16 16 16 16 16 16 16
Reserves 267 346 489 725 956 1,159 1,335 1,559 1,698 1,853 2,106 2,311 2,487
278 320 236 243 294 213 170 120 166 126 165 250 168
331 367 435 575 653 652 619 677 557 530 699 751 737
Total Liabilities 891 1,048 1,176 1,559 1,918 2,040 2,140 2,372 2,437 2,525 2,986 3,328 3,408
521 620 692 860 1,121 1,177 1,145 1,078 1,195 1,192 1,150 1,447 1,566
CWIP 2 8 41 78 8 8 18 93 27 15 263 82 73
Investments 0 0 0 0 0 0 0 0 10 5 0 2 15
368 420 443 621 790 854 977 1,200 1,206 1,313 1,573 1,798 1,754
Total Assets 891 1,048 1,176 1,559 1,918 2,040 2,140 2,372 2,437 2,525 2,986 3,328 3,408

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
91 98 166 180 316 338 238 317 224 509 426 296
-69 -150 -151 -263 -267 -140 -136 -261 -90 -296 -298 -182
-19 53 -13 87 -39 -168 -72 -114 -140 -205 -120 -135
Net Cash Flow 3 0 2 5 10 30 30 -58 -6 9 7 -22

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 33 33 33 35 41 49 61 59 52 57 51 50
Inventory Days 114 121 98 151 189 168 150 147 189 119 122 127
Days Payable 108 91 78 120 144 121 102 112 88 66 78 70
Cash Conversion Cycle 38 63 54 65 87 96 108 94 152 110 94 107
Working Capital Days 6 17 16 21 34 39 54 49 71 61 48 60
ROCE % 32% 32% 32% 34% 34% 31% 25% 23% 18% 21% 24% 20%

Shareholding Pattern

Numbers in percentages

5 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
47.54% 47.54% 47.51% 47.51% 47.50% 47.50% 47.49% 47.49% 47.49% 47.49% 47.49% 47.49%
25.25% 25.09% 24.89% 22.45% 21.27% 19.58% 19.44% 18.57% 16.89% 17.95% 18.48% 18.33%
14.46% 14.89% 15.24% 17.26% 20.32% 22.40% 22.82% 24.49% 26.23% 25.22% 25.43% 25.53%
12.75% 12.48% 12.36% 12.77% 10.91% 10.52% 10.25% 9.44% 9.36% 9.33% 8.59% 8.66%
No. of Shareholders 63,73070,67776,45778,90783,43576,33077,02670,10468,22567,85471,39674,777

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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