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Buy Kajaria Ceramics Ltd For Target Rs.1,450 By Motilal Oswal Financial Services Ltd Subdued growth; lower fuel cost offers respite Volumes and margins in 2H likely to be similar to 1H We hosted the management of Kajaria Ceramics (KJC) in our 10th India Ideation Conference. The management highlighted that KJC gained market share in 1HFY25, aided by strong distribution network and brand positioning. Industry demand remained subdued, with minor improvement seen after the festive season. Management expects margin in 2HFY25 to be similar to 1HFY25. The company is focusing on g...
Buy Kajaria Ceramics Ltd For Target Rs.1,450 By Motilal Oswal Financial Services Ltd
Buy Kajaria Ceramics Ltd For Target Rs.1,450 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services
2024-12-23 01:00:00 pm
Buy Kajaria Ceramics Ltd For Target Rs. 1,661 By Yes Securities Ltd Expect 10% volume CAGR; assign BUY! Result Synopsis Amidst the tepid demand scenario, Kajaria Ceramics Ltd (KJC) reported decent volume growth of 8.5%YoY, which was better than our estimate of 7%YoY growth. Own/JV/Outsourced mix for the quarter stood at 54%/19%/27% during the quarter. Notably, ASP which has been contracting for past 9-quarters remained steady at Rs367/sqm (Vs our est of Rs365/sqm). Consequently, tiles revenue grew by 5.4%YoY and 6.5%QoQ to Rs10.54Bn. Sanitaryware segmen...
Buy Kajaria Ceramics Ltd For Target Rs. 1,661 By Yes Securities Ltd
Buy Kajaria Ceramics Ltd For Target Rs. 1,661 By Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-01 09:03:11 am
India's Kajaria Ceramics profit falls more than expected on sluggish demand Indian tile maker Kajaria Ceramics reported a bigger-than-expected fall in its second-quarter profit on Tuesday amid sluggish domestic demand as monsoon rains slowed construction activity. Consolidated net profit fell 22% to 842.7 million rupees ($10 million) in the quarter ended Sept. 30 from 1.08 billion rupees a year earlier. Analysts, on average, had expected a profit of 1.07 billion rupees, according to estimates compiled by LSEG. Revenue from operations increased about 5%, mark...
India's Kajaria Ceramics profit falls more than expected on sluggish demand
India's Kajaria Ceramics profit falls more than expected on sluggish demand
Source: Reuters
2024-10-22 03:52:14 pm
Buy Kajaria Ceramics Ltd For Target Rs. 1,792 - Sushil Finance Favourable industry tailwinds and capex to support growth: The Russia-Ukraine war had major repercussions, resulting in a surge in gas prices due to its unavailability. This impacted the margins of all the tile manufacturers, including KCL. However, in CY24, gas prices have reduced substantially with an improvement in the supply and it should result in an improvement in the margins in FY24-25. With the improvement in the real estate sector in India and favourable industry dynamics fo...
Buy Kajaria Ceramics Ltd For Target Rs. 1,792 - Sushil Finance
Buy Kajaria Ceramics Ltd For Target Rs. 1,792 - Sushil Finance
Source: Sushil Finance
2024-09-22 11:11:43 am
Buy Kajaria Ceramics Ltd For Target Rs.1,670 By Motilal Oswal Financial Services Result in line; sequential margin expansion likely Low double-digit volume growth in FY25E * Kajaria Ceramics (KJC)’s consol. revenue grew 5% YoY to INR11.1b (in line). EBITDA dipped 1% YoY to INR1.7b (est. INR1.6b). Tiles volume grew 8% YoY (+2% vs. est.), while realization dropped 3.6% YoY (+1% vs. est.) in 1QFY25. OPM contracted 90bp YoY to ~15% (in line). PAT fell 16% YoY to INR0.9b (in line). * Management was positive on the demand outlook for the tile industry. With the rec...
Buy Kajaria Ceramics Ltd For Target Rs.1,670 By Motilal Oswal Financial Services
Buy Kajaria Ceramics Ltd For Target Rs.1,670 By Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd Ltd
2024-07-29 05:37:15 pm
Neutral Kajaria Ceramics Ltd For Target Rs.1,420 by Yes Securities Expect 10% volume CAGR; maintain NEUTRAL! Result Synopsis Kajaria Ceramics Ltd (KJC) reported better than expected volume growth of 8%YoY (Vs est of 6%) but realizations contracted by 4%YoY which led to 5% growth in tiles revenue (in-line with our estimates) over similar period. Improvement in demand scenario reignited the growth trajectory for the company & management is optimistic of achieving a 11-12% volume growth for FY25E. However, lower realizations Vs FY24 will keep revenue ...
Neutral Kajaria Ceramics Ltd For Target Rs.1,420 by Yes Securities
Neutral Kajaria Ceramics Ltd For Target Rs.1,420 by Yes Securities
Source: Yes Securities Ltd
2024-07-26 05:09:40 pm
Buy Kajaria Ceramics Ltd For Target Rs. 1,463 By Sushil Financial We have coverage on Kajaria Ceramics Ltd. with a BUY rating on stock. Since our report, the stock has posted a high of Rs.1,486 today. With the recent run-up in the share price (~25% return), we are now changing our rating on the stock to Neutral   Please refer disclaimer at https://www.sushilfinance.com/Disclamier/disclaimer Member : BSE/ NSE/ MSEI. SEBI Registration No.-INZ000165135
Buy Kajaria Ceramics Ltd For Target Rs. 1,463 By Sushil Financial
Buy Kajaria Ceramics Ltd For Target Rs. 1,463 By Sushil Financial
Source: Sushil Financial Services
2024-07-02 11:54:37 am
Buy Kajaria Ceramics Ltd. For Target Rs.1,480 By JM Financial Services Distribution expansion to drive outperformance Kajaria Ceramics (KJC), at its Investor meet, outlined 3 year growth plan, with an aim to a) achieve tile volume of 150msm and revenue of INR 55bn by FY27 (implying 12% CAGR in volume and revenue vs 6-8% industry growth expectation) on distribution expansion (500 dealer addition) and scale up in projects segment, particularly B2G front, b) grow its non-tile revenue to INR 10bn in FY27 (vs. INR 5bn in FY24) and c) EBITDA margin trajectory of 15...
Buy Kajaria Ceramics Ltd. For Target Rs.1,480 By JM Financial Services
Buy Kajaria Ceramics Ltd. For Target Rs.1,480 By JM Financial Services
Source: JM Financial Services
2024-07-01 03:45:10 pm
ADD Kajaria Ceramics Ltd. For Target Rs. 1,320 - Emkay Global Financial Services Higher costs cause EBITDA miss; outlines 3Y growth vision Kajaria’s Q4FY24 operational performance was a mixed bag – though revenue came broadly in-line, higher than expected costs led to a miss on PAT. Overall sales grew 3% YoY (8% QoQ) to Rs12.4bn, mainly led by volume growth of 6% YoY (9% QoQ). Realizations were under pressure, down 5%/1% YoY/QoQ to Rs369/sqm, probably owing to a challenging demand environment and higher trade discounts to dealers. EBITDA margins contracted ...
ADD Kajaria Ceramics Ltd. For Target Rs. 1,320 - Emkay Global Financial Services
ADD Kajaria Ceramics Ltd. For Target Rs. 1,320 - Emkay Global Financial Services
Source: Emkay Global Financial Services
2024-06-27 05:33:55 pm
NEUTRAL Kajaria Ceramics Ltd. For Target Rs. 1,241 - Yes Securities Expect 10% volume CAGR; maintain NEUTRAL! Result Synopsis Sluggish domestic demand and higher competition from Morbi impacted Kajaria Ceramics Ltd (KJC) performance in Q4FY24. Tiles revenue remained flat YoY & grew by 8%QoQ owing to tepid volume growth of 6%YoY & 9%QoQ, Blended realizations declined for 4th straight quarter to Rs369/sqm. Though topline growth was largely inline with expectations, operating margins came in at 14% which was steeply below our estimates of 16% and a...
NEUTRAL Kajaria Ceramics Ltd. For Target Rs. 1,241 - Yes Securities
NEUTRAL Kajaria Ceramics Ltd. For Target Rs. 1,241 - Yes Securities
Source: Yes Securities Ltd.
2024-06-24 02:47:56 pm
Buy Kajaria Ceramics Ltd. For Target Rs. 1,500 - Motilal Oswal Financial Services Volume growth recovery likely in FY25 Outlines a three-year mission; aims for strong growth across key segments * Kajaria Ceramics (KJC)’s consolidated revenue grew 3% YoY to INR12.4b (est. INR13.1b). EBITDA declined 2% YoY to INR1.7b (est. INR2.1b) due to weak realizations (declined 4.4% YoY). OPM stood at 14% (est. 16%). PAT came in at INR1.0b (vs. est. INR1.2b). * Management shared a three-year strategy across key segments. KJC targets increasing its tiles volume to 150msm i...
Buy Kajaria Ceramics Ltd. For Target Rs. 1,500 - Motilal Oswal Financial Services
Buy Kajaria Ceramics Ltd. For Target Rs. 1,500 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
2024-06-21 03:41:53 pm
Add Kajaria Ceramics Ltd. For Target Rs.1,450 By Emkay Global Financial Services Kajaria Ceramics has, over the years, solidified its presence as the primary panIndia tiles player, selling over 100msm in volume (industry size: ~2,070msm) in a highly competitive & fragmented market. Kajaria’s leadership position, strong brand salience, and large distribution network have helped it gain market share in the last decade (revenue CAGR: 10%, 300bps above industry). We expect market-share gains to sustain, with nearly doubling of capex intensity in FY23-26E (average sp...
Add Kajaria Ceramics Ltd. For Target Rs.1,450 By Emkay Global Financial Services
Add Kajaria Ceramics Ltd. For Target Rs.1,450 By Emkay Global Financial Services
Source: Emkay Global Financial Services
2024-05-17 09:21:01 am
India's Kajaria Ceramics posts surprise Q4 profit drop on higher costs India's Kajaria Ceramics reported a surprise drop in fourth-quarter profit on Tuesday, hurt by increased costs and weak demand. Kajaria's consolidated net profit fell 5.2% year-on-year to 1.02 billion rupees ($12.2 million) in the fourth quarter. Analysts, on average, had expected profit to climb to 1.26 billion rupees, according to LSEG data. Domestic demand for tiles was weak during the January-March quarter and the Red Sea crisis dampened exports, according to analysts. This ...
India's Kajaria Ceramics posts surprise Q4 profit drop on higher costs
India's Kajaria Ceramics posts surprise Q4 profit drop on higher costs
Source: Reuters
2024-05-07 06:07:03 pm
Buy Kajaria Ceramics Ltd For Target Rs.1580 - Motilal Oswal Financial Services Gas price to increase; industry dynamics improvingFuel price can rise 8% over 2QFY24E average* Brent Crude and Spot LNG prices spiked 25-31% over the last 2-3 months, which we believe can raise fuel consumption costs of ceramics players and Kajaria Ceramics (KJC), in particular, in 2HFY24. * Brent Crude jumped 25% in the last few months because of voluntary supply cuts by Saudi Arabia to maintain the demand-supply equilibrium. These supply cuts were first announced in Jul?23 and would co...
Buy Kajaria Ceramics Ltd For Target Rs.1580 - Motilal Oswal Financial Services
Buy Kajaria Ceramics Ltd For Target Rs.1580 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
2023-09-27 01:18:35 pm