Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post
Last Updated on: 24 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Kajaria Ceramics Ltd

About the Company - Kajaria Ceramics Ltd

Kajaria Ceramics Ltd. is a Public Limited Listed company incorporated on 20/12/1985 and has its registered office in the State of Uttar Pradesh, India. Company’s Corporate Identification Number(CIN) is L26924HR1985PLC056150 and registration number is 056150. Currently Company is involved in the business activities of Manufacture of other clay building materials. Company’s Total Operating Revenue is Rs. 3299.38 Cr. and Equity Capital is Rs. 15.92 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Ceramics/Tiles/SanitarywareSF-11, Second Floor, Gurgaon Haryana 122001investors@kajariaceramics.com
http://www.kajariaceramics.com
Management
NamePosition Held
Mr. Ashok KajariaChairman & Managing Director
Mr. Chetan KajariaJoint Managing Director
Mr. Rishi KajariaJoint Managing Director
Mr. Dev Datt RishiNon Executive Director
Mr. H Rathnakar HegdeIndependent Director
Mrs. Sushmita ShekharIndependent Director
Dr. Lalit Kumar PanwarIndependent Director
Mr. Sudhir BhargavaIndependent Director

Kajaria Ceramics Ltd. Share Price Update

Share PriceValue
Today₹1,251.65
Previous Day₹1,280.45

Basic Stock Data of Kajaria Ceramics Ltd

Market Cap 19,944 Cr.
Current Price 1,252
High / Low1,524/1,006
Stock P/E46.3
Book Value 157
Dividend Yield0.72 %
ROCE19.7 %
ROE15.8 %
Face Value 1.00

Data Source: screener.in

Kajaria Ceramics Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales7138389535629741,0681,1021,0081,0781,0911,2051,0641,122
Expenses5696577624817938849368559489581,029895942
Operating Profit14418219180180184166154129133176169179
OPM %20%22%20%14%19%17%15%15%12%12%15%16%16%
Other Income5676777847698
Interest2333334438754
Depreciation27282727282833323433343136
Profit before tax1191581695715716013612697100140143147
Tax %25%23%22%27%24%22%29%26%29%26%21%24%25%
Net Profit901211314111912597936974111109111
EPS in Rs5.617.487.992.717.307.676.015.804.394.676.786.756.78

Kajaria Ceramics Ltd Quarterly Chart

Kajaria Ceramics Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales1,3131,5831,8362,1872,4132,5502,7112,9562,8082,7813,7054,3824,482
Expenses1,1051,3361,5501,8311,9502,0492,2532,5012,3912,2663,0933,7893,824
Operating Profit208247287355463500457455417515612593658
OPM %16%16%16%16%19%20%17%15%15%19%17%14%15%
Other Income-01105111182315262531
Interest49464129343424162011132225
Depreciation3945475673818989108107115133133
Profit before tax120158199270361396355358312413510462530
Tax %32%32%34%32%35%36%36%36%19%25%25%25%
Net Profit82108131185236254229229254309383346404
EPS in Rs5.507.118.2211.0514.5615.9114.7814.2516.0619.3623.6821.6424.98
Dividend Payout %23%21%21%18%17%19%20%21%19%52%46%42%

Kajaria Ceramics Ltd Profit & Loss Yearly Chart

Kajaria Ceramics Ltd Growth

Compounded Sales Growth
10 Years:11%
5 Years:10%
3 Years:16%
TTM:6%
Compounded Profit Growth
10 Years:13%
5 Years:9%
3 Years:11%
TTM:29%
Stock Price CAGR
10 Years:23%
5 Years:19%
3 Years:13%
1 Year:18%
Return on Equity
10 Years:19%
5 Years:17%
3 Years:17%
Last Year:16%

Kajaria Ceramics Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital15151516161616161616161616
Reserves2673464897259561,1591,3351,5591,6981,8532,1062,3112,487
Borrowings278320236243294213170120166126165250168
Other Liabilities331367435575653652619677557530699751737
Total Liabilities8911,0481,1761,5591,9182,0402,1402,3722,4372,5252,9863,3283,408
Fixed Assets5216206928601,1211,1771,1451,0781,1951,1921,1501,4471,566
CWIP28417888189327152638273
Investments000000001050215
Other Assets3684204436217908549771,2001,2061,3131,5731,7981,754
Total Assets8911,0481,1761,5591,9182,0402,1402,3722,4372,5252,9863,3283,408

Kajaria Ceramics Ltd Reserves and Borrowings Chart

Kajaria Ceramics Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 9198166180316338238317224509426296
Cash from Investing Activity -69-150-151-263-267-140-136-261-90-296-298-182
Cash from Financing Activity -1953-1387-39-168-72-114-140-205-120-135
Net Cash Flow3-025103030-58-697-22

Kajaria Ceramics Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days333333354149615952575150
Inventory Days11412198151189168150147189119122127
Days Payable108917812014412110211288667870
Cash Conversion Cycle3863546587961089415211094107
Working Capital Days61716213439544971614860
ROCE %32%32%32%34%34%31%25%23%18%21%24%20%

Kajaria Ceramics Ltd Financial Efficiency Indicators Chart

Kajaria Ceramics Ltd Share Holding Pattern

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Promoters47.54%47.54%47.54%47.51%47.51%47.50%47.50%47.49%47.49%47.49%47.49%47.49%
FIIs23.68%25.25%25.09%24.89%22.45%21.27%19.58%19.44%18.57%16.89%17.95%18.48%
DIIs15.33%14.46%14.89%15.24%17.26%20.32%22.40%22.82%24.49%26.23%25.22%25.43%
Government0.43%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Public13.03%12.75%12.48%12.36%12.77%10.91%10.52%10.25%9.44%9.36%9.33%8.59%
No. of Shareholders59,56163,73070,67776,45778,90783,43576,33077,02670,10468,22567,85471,396

Kajaria Ceramics Ltd Shareholding Pattern Chart

No. of Kajaria Ceramics Ltd Shareholders

Kajaria Ceramics Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Kotak Emerging Equity Fund - Regular Plan57531552.15725.67
Mirae Asset Large Cap Fund26441440.97333.52
SBI Large & Midcap Fund25948262.09327.3
DSP Mid Cap Fund20396661.78257.27
Mirae Asset Midcap Fund14513461.55183.07
DSP Small Cap Fund13390131.43168.9
Invesco India Contra Fund12920751.47162.98
Mirae Asset Emerging Bluechip Fund12316570.55155.36
UTI Mid Cap Fund9123211.32115.08
HSBC Small Cap Fund - Regular Plan8412000.92106.1

Kajaria Ceramics Ltd ROCE Trend

Kajaria Ceramics Ltd EPS Trend

Kajaria Ceramics Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue1.001.001.001.001.00
Basic EPS (Rs.)21.6423.6919.3716.0614.25
Diluted EPS (Rs.)21.6223.6819.3716.0614.25
Cash EPS (Rs.)30.1031.2926.1222.7419.99
Book Value[Excl.RevalReserv]/Share (Rs.)151.03137.38121.52111.82103.20
Book Value[Incl.RevalReserv]/Share (Rs.)151.03137.38121.52111.82103.20
Revenue From Operations / Share (Rs.)275.25232.74174.79176.60185.92
PBDIT / Share (Rs.)39.3040.0933.3227.6829.40
PBIT / Share (Rs.)30.9532.8526.6220.8823.80
PBT / Share (Rs.)29.0532.0525.9419.6522.52
Net Profit / Share (Rs.)21.7524.0419.4215.9514.39
NP After MI And SOA / Share (Rs.)21.6423.6819.3616.0614.25
PBDIT Margin (%)14.2717.2219.0615.6715.81
PBIT Margin (%)11.2414.1115.2211.8212.80
PBT Margin (%)10.5513.7614.8411.1212.11
Net Profit Margin (%)7.9010.3211.109.027.73
NP After MI And SOA Margin (%)7.8610.1711.079.097.66
Return on Networth / Equity (%)14.8017.7616.4814.8914.38
Return on Capital Employeed (%)19.0822.4620.4817.2721.18
Return On Assets (%)10.3412.6212.1910.479.54
Long Term Debt / Equity (X)0.020.010.010.010.01
Total Debt / Equity (X)0.080.060.050.060.06
Asset Turnover Ratio (%)1.341.261.071.131.30
Current Ratio (X)2.252.202.812.302.00
Quick Ratio (X)1.501.502.001.311.30
Inventory Turnover Ratio (X)1.621.781.151.301.56
Dividend Payout Ratio (NP) (%)41.5933.7751.6437.3521.04
Dividend Payout Ratio (CP) (%)30.0225.8638.3526.2415.10
Earning Retention Ratio (%)58.4166.2348.3662.6578.96
Cash Earning Retention Ratio (%)69.9874.1461.6573.7684.90
Interest Coverage Ratio (X)28.0350.1449.5022.5629.99
Interest Coverage Ratio (Post Tax) (X)16.8731.0729.8413.9915.98
Enterprise Value (Cr.)16673.6115973.2914421.345942.869300.60
EV / Net Operating Revenue (X)3.814.315.192.123.15
EV / EBITDA (X)26.6525.0327.2013.5019.89
MarketCap / Net Operating Revenue (X)3.834.375.292.133.18
Retention Ratios (%)58.4066.2248.3562.6478.95
Price / BV (X)7.217.647.873.495.96
Price / Net Operating Revenue (X)3.834.375.292.133.18
EarningsYield0.020.020.020.040.02

Kajaria Ceramics Ltd Profitability Ratios (%)

Kajaria Ceramics Ltd Liquidity Ratios

Kajaria Ceramics Ltd Liquidity Ratios (%)

Kajaria Ceramics Ltd Interest Coverage Ratios (%)

Kajaria Ceramics Ltd Valuation Ratios

Fair Value of Kajaria Ceramics Ltd Stock

Fair Value: ₹1156.79

The stock is overvalued by 7.60% compared to the current price ₹1252

*Investments are subject to market risks

Strength and Weakness of Kajaria Ceramics Ltd Stock

StrengthWeakness
  1. The stock has a high average ROCE of 27.17%, which is a positive sign.
  2. The company has higher reserves (1,330.08 cr) compared to borrowings (211.46 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (2.15 cr) and profit (341.85 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 27.02 and average Dividend Yield of 13.04%.
  2. The stock has a high average Working Capital Days of 39.67, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 89.00, which may not be favorable.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Kajaria Ceramics Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE