Q1 Results: Kajaria Ceramics Expects Higher Volume Growth In Second Half of FY20
Kajaria Ceramics Ltd. expects volumes to grow in the second half of the current financial year aided by orders from the government, according to the tilemaker’s Chairman and Managing Director Ashok Kajaria.
The markets will remain tough, Kajaria told BloombergQuint in an interaction. He, however, said that a lot of orders are coming from the education sector and hospitals. The company expects a volume growth of over 15 percent in the second half of the fiscal, he said.
Volumes grew 10 percent year-on-year in the quarter ended June. For the second quarter, we’re looking at 12-13 percent volume growth, he said.
The company has hiked the prices of its ceramics products and expects prices of polished vitrified tiles to rise in the next two months. We hope to maintain prices of glazed vitrified tiles in the coming months, Kajaria said.
Key Earnings Highlights (YoY)
- Revenue rose 6.5 percent to Rs 700 crore.
- Net profit up 11 percent to Rs 51 crore.
- Operating profit up 10 percent to Rs 106.5 crore.
- Margin at 15.2 percent vs 14.8 percent.
Watch the full conversation here: