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Kajaria Ceramics Q4 Review - Highest Ever Sales Volume, However Margins Disappointed: IDBI Capital

Kajaria Ceramics Q4 Review - Highest Ever Sales Volume, However Margins Disappointed: IDBI Capital

<div class="paragraphs"><p>A couple choosing tiles in a store. (Source: freepik)</p></div>
A couple choosing tiles in a store. (Source: freepik)

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IDBI Capital Report

Kajaria Ceramic’s Ltd.'s Q4 FY22 result was in-line with our estimate on net sales front, however, margins were subdued owing to sharp increase in raw material prices.

The company reported highest ever net sales volume of 25.9 million square metre. Further, net sales realisation too improved by 12.9% YoY to Rs 367/ square metre.

We believe with new capacity at place and healthy demand traction, Kajaria’s net sales growth would be encouraging, however, inflationary raw material prices trend would weigh on margins in near term.

Net sales increased by 15.7% YoY to Rs 11.1 billion, while Ebitda came in at Rs 1.6 billion, down by 13.1% over Q4 FY21.

Click on the attachment to read the full report:

IDBI Capital Kajaria Ceramics Q4FY22 Result Update.pdf

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