Kajaria Ceramics, the largest tile manufacturer in India, has reported a 25% decrease in consolidated net profit to ₹77.74 crore for the quarter ending on December 31, 2024, as compared to ₹104.19 crore in the same quarter last year. The company’s EBITDA margin also shrank to 12.78% from 15.52% year-on-year, mainly due to lower realizations and losses in its bathware division.
As of 3.05 pm today, shares of Kajaria Ceramics Limited were trading at ₹960.65, down by ₹22.80 or 2.32% on the NSE.
Despite facing challenges like soft domestic demand and weak tile exports, the company saw a marginal 1% growth in consolidated revenue to ₹1,163.71 crore. Tile volumes increased by 7% year-on-year to 28.90 million square meters during the quarter.
The performance of the bathware division was particularly impacted by the new sanitaryware unit in Morbi, which began operations this year. The company’s working capital days stood at 59 days as of December 2024.
Kajaria Ceramics, ranked as the eighth-largest tile manufacturer globally, has a total manufacturing capacity of 93.10 million square meters spread across nine plants in India and Nepal. The company has announced plans to invest ₹30 crore in Kajaria Ultima Private Limited for land acquisition in Morbi and ₹15 crore to establish a tile adhesives manufacturing facility in Gailpur, Rajasthan, expected to be operational by April 2025.
The article was published on February 4, 2025.
