Murudeshwar Ceramics Ltd

₹ 30.1 -1.31%

24 Aug 1:49 p.m.

naveentile.com BSE: 515037 NSE: MURUDCERA

About

Incorporated in 1983, Murudeshwar
Ceramics Ltd manufacture and trades in wide range of Ceramic and Vitrified floor & Wall tiles^[1]

Key Points

Business Overview:^[1]
MCL is a part of RN Shetty Group.It is an ISO: 9001-2000 certified manufacturer of glazed ceramic floor tiles, vitrified porcelain, and
natural granite slabs, which It sells directly to real estate entities and through retail sales channels.

Website BSE NSE

Market Cap ₹ 182 Cr.
Current Price ₹ 30.1
High / Low ₹ 51.0 / 23.7
Stock P/E 18.0
Book Value ₹ 62.7
Dividend Yield 1.67 %
ROCE 5.21 %
ROE 3.00 %
Face Value ₹ 10.0

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Pros

Stock is trading at 0.48 times its book value
Company has delivered good profit growth of 24.1% CAGR over last 5 years

Cons

Company has a low return on equity of 2.39% over last 3 years.
Contingent liabilities of Rs.464 Cr.
Debtor days have increased from 65.9 to 91.8 days.

* 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.

Peer comparison

Consumer Discretionary Consumer Durables Consumer Durables Ceramics

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	37.90	45.71	51.04	51.66	43.47	42.85	50.15	66.40	46.15	45.57	51.11	62.64	50.09
	30.39	38.56	43.62	43.65	35.28	35.45	42.18	55.36	38.10	38.57	44.38	52.93	40.51
Operating Profit	7.51	7.15	7.42	8.01	8.19	7.40	7.97	11.04	8.05	7.00	6.73	9.71	9.58
OPM %	19.82%	15.64%	14.54%	15.51%	18.84%	17.27%	15.89%	16.63%	17.44%	15.36%	13.17%	15.50%	19.13%
	0.07	0.08	0.03	4.27	0.19	1.77	0.12	2.82	0.12	2.32	4.04	3.09	0.06
Interest	2.96	2.53	2.34	3.21	3.08	3.08	2.85	4.05	2.86	2.78	2.70	4.05	3.39
Depreciation	2.76	2.77	2.75	3.72	3.37	3.37	3.37	4.38	3.37	3.37	3.38	4.86	3.86
Profit before tax	1.86	1.93	2.36	5.35	1.93	2.72	1.87	5.43	1.94	3.17	4.69	3.89	2.39
Tax %	39.25%	37.82%	30.93%	77.94%	1.04%	0.74%	1.07%	36.28%	0.00%	0.00%	0.00%	62.47%	65.69%
	1.12	1.20	1.63	1.17	1.92	2.70	1.85	3.46	1.95	3.17	4.68	1.46	0.82
EPS in Rs	0.19	0.21	0.28	0.19	0.32	0.45	0.31	0.57	0.32	0.52	0.77	0.24	0.14
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	138	115	105	119	126	103	80	122	170	184	202	205	209
	107	88	79	88	97	82	71	96	140	154	167	173	176
Operating Profit	31	27	26	32	29	21	9	26	31	30	35	31	33
OPM %	22%	24%	25%	26%	23%	20%	11%	21%	18%	17%	17%	15%	16%
	1	1	1	1	2	9	1	1	1	4	5	10	10
Interest	21	20	17	19	16	16	16	13	13	11	13	12	13
Depreciation	9	7	8	9	9	10	10	10	11	12	14	15	15
Profit before tax	2	2	2	5	5	3	-16	4	7	11	12	14	14
Tax %	15%	7%	47%	4%	9%	47%	-26%	42%	10%	55%	17%	18%
	2	2	1	5	5	2	-12	2	7	5	10	11	10
EPS in Rs	0.42	0.38	0.31	1.09	1.01	0.37	-2.27	0.39	1.14	0.85	1.64	1.86	1.67
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	44%	59%	31%	0%

Compounded Sales Growth
10 Years:	6%
5 Years:	21%
3 Years:	6%
TTM:	2%

Compounded Profit Growth
10 Years:	22%
5 Years:	24%
3 Years:	19%
TTM:	2%

Stock Price CAGR
10 Years:	2%
5 Years:	4%
3 Years:	-8%
1 Year:	-31%

Return on Equity
10 Years:	1%
5 Years:	2%
3 Years:	2%
Last Year:	3%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	41	41	43	45	48	48	52	55	58	61	61	61
Reserves	269	274	285	277	285	287	281	284	296	304	311	319
	109	103	100	104	93	79	85	83	120	110	108	142
	38	49	50	49	48	59	54	53	67	73	90	93
Total Liabilities	456	467	477	475	474	473	472	475	540	548	569	616
	278	278	309	302	298	306	297	298	297	361	349	390
CWIP	0	19	2	5	1	2	8	6	78	10	38	24
Investments	4	4	4	4	4	4	4	9	9	9	9	9
	174	166	163	165	171	161	163	162	156	167	173	192
Total Assets	456	467	477	475	474	473	472	475	540	548	569	616

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	36	46	23	5	15	47	0	24	42	31	29	13
	-4	-25	-20	-4	-1	-18	-6	-12	-81	-5	-25	-33
	-32	-19	-4	-3	-15	-29	5	-8	35	-13	-16	23
Net Cash Flow	-1	2	-1	-2	-1	0	0	3	-4	13	-12	4
Free Cash Flow	30	20	2	0	13	29	-6	16	-40	22	-1	-29
CFO/OP	117%	172%	84%	13%	49%	227%	10%	94%	142%	106%	79%	38%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	131	106	107	100	134	146	145	66	35	33	73	92
Inventory Days	806	1,409	1,624	1,421	759	779	1,240	1,201	975	954	744	881
Days Payable	182	322	335	249	112	184	223	203	228	205	210	250
Cash Conversion Cycle	756	1,193	1,395	1,272	781	741	1,162	1,065	782	781	608	723
Working Capital Days	157	139	141	167	187	164	204	152	78	61	74	85
ROCE %	5%	5%	5%	6%	5%	5%	-0%	4%	5%	5%	5%	5%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Total tile production volume
Sq. Mtrs.

x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx
					xx	xx	xx	xx
					xx	xx	xx	xx
					xxx,xxx	xxx,xxx	x,xxx,xxx	x,xxx,xxx
					xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx
					xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx
	x,xxx,xxx	x,xxx,xxx						x,xxx,xxx

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Company-owned showrooms
Number

Depots
Number

Production of vitrified tiles - 60x120 cm (large format)
Sq. Mtrs.

Production of vitrified tiles - 60x60 cm
Sq. Mtrs.

Production of wall tiles
Sq. Mtrs.

Installed capacity of vitrified and ceramic tiles
Sq. Mtrs. per annum

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	72.65%	72.65%	73.93%	73.93%	73.93%	73.93%	73.93%	73.93%	73.93%	73.93%	73.93%	73.93%
	0.00%	0.01%	0.02%	0.00%	0.00%	0.00%	0.00%	0.03%	0.00%	0.03%	0.00%	0.00%
	27.34%	27.33%	26.03%	26.05%	26.05%	26.06%	26.05%	26.04%	26.06%	26.02%	26.07%	26.05%
No. of Shareholders	20,413	21,303	20,899	21,364	24,169	23,463	23,219	23,418	23,260	22,891	22,422	22,274

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	63.26%	65.09%	66.83%	66.83%	69.84%	71.28%	72.65%	73.93%	73.93%	73.93%	73.93%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.00%	0.00%	0.00%
	0.56%	0.48%	0.45%	0.47%	0.14%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%
	36.17%	34.43%	32.72%	32.71%	30.01%	28.71%	27.35%	26.03%	26.05%	26.07%	26.05%
No. of Shareholders	12,951	16,923	17,237	17,206	18,450	19,006	20,481	20,899	23,219	22,422	22,274

* 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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Murudeshwar Ceramics Ltd

Murudeshwar Ceramics Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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