BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
Kajaria Ceramic Ltd.’s Q2 FY22 result was a beat to our and consensus estimates on key parameters.
After a subdued performance in Q1 FY22 owing to second wave of Covid-19, the company reported encouraging sales volume growth as well as higher NSR in Q2 FY22.
Net sales increased by 36.6% year-on-year to Rs 9736 million, while Ebitda came in at Rs 1805 million, an impressive growth of 25.6% over Q2 FY21. The company reported net profit of Rs 1193 million.
The management reiterated 15% sales volume growth and ~20% net sales growth in H2 FY22E.
We believe Kajaria is poised to benefit from strong demand as the company’s 3 new plants are expected to be completed by year end and would drive higher earnings growth in future.
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