Kajaria Ceramics - Strongly Set; Continuity Is The Key: Centrum Broking 
An employee arranges tiles before packing into the boxes at a tiles and ceramics production facility. (Photographer: Asim Hafeez/Bloomberg)

Kajaria Ceramics - Strongly Set; Continuity Is The Key: Centrum Broking 

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.

Centrum Broking Report

Kajaria Ceramics Ltd. continued with strong volume growth aided with healthy operating efficiencies that contributed to strong earnings with Ebitda jumping 63% to Rs 1.82 billion YoY.

The highlight of Q3 FY21 was tiles sales volume jumped 10.5% to 22.59 msm (pushed by outsourced segment volume jump).

The cost stayed under check with a decline of ~6% YoY.

The volume growth was without any adverse impact on realisations that stayed flat YoY at Rs 336/square metre.

With higher contribution from GVT segment (25% vs 23% in Q3 FY20) the gross margins improved to ~42% from 40.5% YoY (41% in Q2 FY21) while Ebitda margins expanded to 21.7% from 15.0% (due to cost efficiencies).

Click on the attachment to read the full report:

Centrum Broking Kajaria Ceramics Q3 FY21 Result Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.