Kajaria Ceramics Ltd. share price target

Kajaria Ceramics performance was strong across topline & bottomline. The sales volumes were up 10.5% YoY at 22.6 MSM, as utilisation got back to full levels coupled with strong outsourced sales driven by robust rebound in demand. The topline was up 13.1% YoY at | 838.4 crore with stable realisations (up 0.3% YoY). Tiles Revenues were up 10.9% YoY at | 758.2 crore. Faucet and Sanitaryware revenues were up 36% YoY at | 67.4 crore. Plywood revenues were up 57.6% YoY at | 12.8 crore, on a low base. EBITDA at | 181.8 crore with margins at 21.7% were up 667 bps YoY driven...

Kajaria Ceramics Ltd (Kajaria) reported another strong quarterly performance, particularly on operating margin front. Robust demand in retail market of from tier-I and smaller cities aided sales volume growth, while opening up of metros further strengthened demand trajectory. We believe with an all-round Q3FY21 performance, Kajaria has once again proved its leadership position in the domestic tile industry. Net sales increased by 13.1% YoY to Rs8,383mn, while EBITDA came in at Rs1,818mn, up by 63.3% YoY. The company reported net profit of Rs1,210mn, a robust growth of 98.8% over Q3FY20. While reiterating healthy volume growth outlook of higher mid-teens, the management has revised EBITDA...

Kajaria Ceramics (KJC) posted an above-expected Q3FY21 with 13% YoY revenue growth and volumes up 11%.

Kajaria Ceramics Ltd's (Kajaria) Q2FY21 result was a beat to our as well as consensus estimates. Apart from healthy pickup in production after a lull in Q1FY21 and robust sales volume growth, the management's guidance on sustainable EBITDA margin expansion along with strong sales growth stole the show. Net sales declined by 0.3% YoY to Rs7,215mn, while EBITDA came in at Rs1,437mn, increased by 36.5% YoY. The company reported net profit of Rs896mn, marginally lower by 3.8% over Q2FY20. Our interaction with the management suggests that demand is back to normalcy, particularly in retail market in Tier-II and smaller cities, though institutional demand is still laggard in metros....

Kajaria Ceramics (KJC) posted an above-expected Q2FY21 with stable YoY revenue and volumes, aided by better traction in tier-2 cities and below.

Kajaria Ceramics (KJC) is currently India's leading manufacturer of ceramic and vitrified tiles. I