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Furniture-Furnishing-Paints company Kajaria Ceramics announced Q4FY24 & FY24 results:
Financial Highlights:
- Despite ongoing demand challenges, Kajaria achieved a 5.5% growth in sales volume in Q4FY24 YoY.
- The EBITDA margin for Q4FY24 contracted by 74 basis points YoY, while FY24 saw a net positive gain in EBITDA margin.
- Profit After Tax for Q4FY24 saw a decrease of 5% from Q4FY23, but the overall FY24 showed a significant growth compared to the previous fiscal year.
- Sales growth saw a 6% YoY increase both in the Q4 and the full FY24 periods.
- Own manufacturing and subsidiary production reflected a mix of slight increases and decreases in volume YoY.
- The company reported a YoY revenue growth in tiles, adhesives, and sanitary ware/faucets segments in Q4FY24.
- Outsourcing and subsidiaries played a significant role in revenue contribution alongside own manufacturing.
- The report indicates fluctuations in the quarterly EBITDA margins, with a closing figure for Q4FY24.settling at 13.86%.
Chairman of the company said, " Despite the sustained demand challenges, we have achieved a 5.5% growth in sales volume, selling 29.57 MSM in Q4FY24 compared to 28.02 MSM in Q4FY23. For FY24, volumes grew by 6.3% to 108.14 MSM.
The EBITDA margin for Q4FY24 was 13.86%, a contraction of 74 basis points YoY. EBITDA margin for FY24 however stood at 15.28%, a gain of 177 basis points compared to FY23. PAT for Q4FY24 de-grew by 5% to Rs 102 crore as compared to Rs 108 crore in Q4FY23. However FY24 PAT stood at Rs 422 crore, a growth of 23% over the last fiscal.
We maintain a positive outlook for the tile industry's demand in FY25 given the exports momentum likely to sustain and rub-off of strong real estate demand likely to drive improvement in off-take for tiles in FY25.
Given this positive outlook, we believe that the company will continue to deliver industryleading performance driven by our sustained focus on branding, improving the quality of our distribution network and by enhancing our focus on value added products."
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