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Kajaria Ceramics Ltd share Price

Company details

6M Return 28.97%
1Y Return 10.10%
Mkt Cap.(Cr) 21,565.77
Volume 43,856
Div Yield 0.66%
OI Chg %
Volume 43,856

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Incur '0' Brokerage upto ₹500
Muted performance; margins to improve ahead
Technical Outlook

    BSE Consumer durable index has given a breakout from falling channel signalling end of corrective phase and resumption of structural uptrend. Going ahead, We expect consumption space to remain resilient in the ongoing Festive session, leading to outperformance in coming quarters. Within this space, we remain constructive on Kajaria Ceramics as it is a proxy play of the consumption theme. The stock has generated a breakout above the last seven weeks range (₹ 1214-1107) as buying demand has emerged from previous major breakout area signalling continuation of the up move

    The stock earlier during July 2022 has generated a  Double bottom breakout with a base around 100 weeks EMA. In the smaller time frame it has completely retraced its preceding 13 sessions decline (₹1214-1107) in just six sessions. A faster retracement in less than half the time interval signals strength and a robust price structure
    We expect the stock to maintain positive bias and head higher towards ₹ 1355 levels in the coming months being price parity with previous major up move (₹ 970-1214) as projected from last week low of ₹ 1107
Fundamental Outlook

    Kajaria is the largest manufacturer of ceramic/vitrified tiles in India with current annual capacity of 82.8 million sq. meters (MSM).  It has clocked 7.8%, 8.3% revenue, PAT CAGR during FY17-22. Going forward, Kajaria is likely to benefit with growing tiles demand in domestic market (to improve by 5-6% during FY23) driven by revived consumer sentiments, improved real estate demand in Tier-II and II cities, and upped re-construction/renovation activities in the metro regions

    Kajaria is taking capacity expansion across product portfolio. It has commissioned 4.4 MSM of PVT capacity at its Morbi (Gujarat) plant during April’22. The other two projects i.e 4.2 MSM of ceramic floor tiles at Gailpur(Rajasthan) and 3.8 MSM of glazed vitrified tiles at Srikalahasti(Andhra Pradesh) have also been commissioned during May’22. Further, the company is investing ₹ 80 crores to set up a 8 lakh pcs/ annum sanitaryware manufacturing facility in Gujarat which is expected to be completed by December’ 23. Further, it is adding new capacity of 6 lakh pieces/annum in their faucet plant at Gailpur, which will take the total the capacity to 16 lakh pieces/ annum and expected to be completed by October’22. These capex are likely to benefit Kajaria during improved demand scenario

    We expect 16% CAGR in tiles volume and 3.5% CAGR in realizations, resulting in tiles revenues CAGR of ~20% over FY22-24 (to ₹ 5,351.6 crore) to be driven by a) expected rise in demand from Tier II and below cities, b) healthy capacity utilizations, c) expected increase in Kajaria’s capacity, d) enhanced distribution network and e) strong brand recall. Margin is likely to hover at the current range of 16.5% despite on-going volatility in gas prices, increased global uncertainty, and higher freight and packaging cost

    At CMP, Kajaria is trading at ~34x FY24E P/E. With net cash balance sheet and superior brand, it is a quasi-play on improved scenario of real estate and expanding reach to tier 2/3 cities

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Investment recommendation
Muted performance; margins to improve ahead
Call Date
29 Jan 2023
Entry Price 1,098.00
Target Price 1,310.00
12-18 Month


Operating Profit
Profit after Tax
Reserves and Surplus
Operating Profit
Profit after Tax

Kajaria Ceramics Ltd Stocks COMPARISION


Equity Capital: 2,326.78 Cr FV: 1.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 19,117.66 -3,609.01
LAST 3M 37,244.98 8,192.34
LAST 6M 47,342.46 155,367.92
LAST 12M 134,407.88 155,858.29

Kajaria Ceramics Ltd Information

Stock PE (TTM)
Promoter Holding
Book Value
Registered Address

SF-11 2nd Flr JMD Regent Plaza, Sikanderpur Ghosi, Gurgaon, Haryana, 122001

Tel : 91-124-4081281
Email : investors:kajariaceramics.com
Website : http://www.kajariaceramics.com


AGM Date (Month) : Sep
Face Value Equity Shares : 1
Market Lot Equity Shares : 1
BSE Code : 500233
Book Closure Date (Month) :
BSE Group : A
ISIN : INE217B01036

FAQ’s on Kajaria Ceramics Ltd Shares

You can buy Kajaria Ceramics Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Kajaria Ceramics Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Sep 21, 2023 03:59 PM the closing price of Kajaria Ceramics Ltd was ₹ 1,354.20.

Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Sep 21, 2023 03:59 PM, the market cap of Kajaria Ceramics Ltd stood at ₹ 21,565.77.

The latest PE ratio of Kajaria Ceramics Ltd as of Sep 21, 2023 03:59 PM is 58.99

The latest PB ratio of Kajaria Ceramics Ltd as of Sep 21, 2023 03:59 PM is 0.11

The 52-week high of Kajaria Ceramics Ltd is ₹ 1,523.80 while the 52-week low is ₹ 1,006.50

According to analyst recommendations, Kajaria Ceramics Ltd has a “Buy” rating for the long term.

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