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Kajaria Ceramics Ltd

₹ 9980.45%
16 Jan 2:46 p.m. – close price
🔗kajariaceramics.com•BSE: 500233•NSE: KAJARIACER
Market Cap₹ 15,900 Cr.
Current Price₹ 998
High / Low₹ 1,322
Stock P/E48.3
Book Value₹ 174
Dividend Yield0.91 %
ROCE16.8 %
ROE10.8 %
Face Value₹ 1.00
Sales₹ 4,241 Cr.
OPM12.6 %
Mar Cap₹ 15,900 Cr.

ABOUT

Kajaria Ceramics Ltd is primarily engaged in manufacturing and trading of ceramic and vitrified tiles in India.[1]It is the largest manufacturer of ceramic/ vitrified tiles in India and 8th largest in the world.[2]

KEY POINTS

Product PortfolioTheir product portfolio includes ceramic wall & floor tiles, polished & glazed vitrified tiles, bath-ware solutions, and plywood & laminates.[1]In FY23, tiles accounted for ~88% of revenues while the rest of products accounted for ~12% of revenues[2]

Also present in buckets:
Aggressive Growth TriggersExcellent ResultsRevenue GuidanceAsset Base ExpansionCapacity Expansion And ProductsOrder Book PositionJv Partnerships AcquisitionsRevenue Guidance Vs ActualsCredit Rating UpdatesRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.Kajaria Ceramics998.3048.3015900.160.91120.7229.951079.091.5616.834240.9912.63329.33120.725.748.720.04
2.Nitco90.17–2065.930.000.94102.18107.7063.16-42.87436.095.67-141.351.006.83-33.971.01
3.Asian Granito74.9654.541738.440.0016.71151.00406.926.062.171647.786.0431.8816.291.211.030.20
4.Somany Ceramics410.6529.511684.190.7412.31-12.65685.162.8311.512703.458.0557.0814.992.142.990.42
5.Orient Bell267.3060.12393.220.183.19228.87165.092.962.38669.284.546.543.191.240.520.12
6.Exxaro Tiles7.4749.46334.210.001.20220.0068.96-1.343.85308.319.436.761.201.200.050.32
7.Murudesh.Ceramic34.6420.12209.701.453.1717.4145.576.355.24208.2716.3510.433.170.561.780.35
–Median: 9 Co.89.948.88393.220.03.1934.88107.76.063.85436.098.0510.433.191.231.780.33

Quarterly Results

Standalone figures in ₹ crores

Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales
9809861,0919641,0101,0241,1041,0021,0621,0501,1051,0071,079
Expenses
8618709488288648819688689249291,009861907
Operating Profit
11811714313714614413613413912196146172
Other Income
12131314141624161817-951922
Profit before tax
107102130126131128127116125107-29134163
Tax %
26%26%26%26%26%26%25%26%26%26%88%26%26%
Net Profit
79769694989595879380-55100121
EPS in Rs
4.974.756.045.886.135.965.985.445.834.99-3.456.267.58

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
1,8822,2332,4432,5282,5812,7262,5722,5233,2993,9714,1034,2194,241
Expenses
1,6441,9462,0552,0852,1522,3212,1942,0892,7673,4553,5413,7203,706
Operating Profit
239287388443429405378434533516562499535
Other Income
11212119344950435069-54-37
Interest
266744395611899
Depreciation
36394753626379748491111117115
Profit before tax
177243355407382373339406485463512319374
Net Profit
117168237270252246279302362344381204245
EPS in Rs
7.7210.6014.9217.0015.8715.4717.5418.9722.7621.6323.9512.8215.38
Dividend Payout %
23%19%17%18%19%19%17%53%48%42%50%70%–

Compounded Sales Growth

10 Years:7%
5 Years:10%
3 Years:9%
TTM:1%

Compounded Profit Growth

10 Years:5%
5 Years:0%
3 Years:-8%
TTM:-11%

Stock Price CAGR

10 Years:8%
5 Years:6%
3 Years:-2%
1 Year:-6%

Return on Equity

10 Years:17%
5 Years:15%
3 Years:14%
Last Year:11%

Balance Sheet

Standalone figures in ₹ crores

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
15161616161616161616161616
Reserves
5027069401,1641,3611,5501,7141,8622,0952,3042,5552,5922,756
Borrowings
8981431112107633701356796107
Other Liabilities
346392460469443472389397511505535568597
Total Liabilities
9521,1951,4601,6591,8312,0472,1952,3082,6922,9613,1723,2723,476
Fixed Assets
5045146637197457096946888179901,1411,1331,119
Gross Block
811.83857.651,017.521,109.571,180.711,193.821,234.001,431.001,454.421,674.721,866.601,833.24–
Accumulated Depreciation
307.75343.42354.91390.51435.91484.85539.59742.50637.58684.26725.82699.82–
CWIP
12465109918178559786
Investments
4579109109116117134129119144202181189
Other Assets
3915986838279691,2211,3581,4811,5741,7491,7751,8612,081
Total Assets
9521,1951,4601,6591,8312,0472,1952,3082,6922,9613,1723,2723,476

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
1499305262199291235452362218551455
Cash from Investing Activity
-88-70-215-135-114-285-139-245-239-132-215-327
Cash from Financing Activity
-6063-91-84-57-63-104-202-110-110-256-209
Net Cash Flow
12-24428-57-7513-2480-82

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
313138445855495449494643
Inventory Days
546262697683955870766563
Days Payable
515565615668535152464952
Cash Conversion Cycle
333935527770926266796355
Working Capital Days
-11518314746514032424233
ROCE %
35%36%41%38%30%25%21%22%24%20%20%17%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters
47.49%47.49%47.49%47.49%47.49%47.49%47.49%47.49%47.49%47.49%47.49%47.61%47.69%
FIIs
18.57%16.89%17.95%18.48%18.33%19.18%16.21%16.07%16.04%15.79%12.55%11.57%11.66%
DIIs
24.49%26.23%25.22%25.43%25.53%24.91%27.83%28.39%27.91%27.68%27.39%26.00%26.30%
Public
9.44%9.36%9.33%8.59%8.66%8.43%8.46%8.05%8.57%9.06%12.57%14.82%14.34%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

Kajaria Ceramics' JV Incorporates New Subsidiary in Nepal

3rd April 2026, 1:28 am

Kajaria Ceramics Files SEBI Compliance Certificate for Share Dematerialization

2nd April 2026, 11:34 pm

Kajaria Ceramics Appoints Vinit Kumar as Company Secretary and Compliance Officer

1st April 2026, 7:13 pm

Surya Roshni Ltd. Notifies SEBI Special Window for Physical Securities Transfer

26th March 2026, 8:17 pm

Kajaria Ceramics Announces Trading Window Closure Ahead of Financial Results

25th March 2026, 7:30 pm

Published by Other Websites

External media mentions & references

Kajaria Ceramics: Prabhudas Lilladher Maintains BUY, Raises Target to ₹1,147

31st March 2026, 9:58 am

India's Ceramic Crisis: Supply Shock Sparks Consolidation, Investor Hunt

30th March 2026, 10:00 am

Ceramic Crisis: Gas Snarls Spark Consolidation, Fuel Investor Bets

30th March 2026, 9:44 am

West Asia Conflict Triggers Cost Shock: Durables, Building Stocks Plunge

24th March 2026, 12:26 pm

Morbi's Ceramic Crisis: 430 Units Halt Production, Tile Prices to Jump 20%

18th March 2026, 3:17 pm

News Articles

Editorial & research coverage

Kajaria Ceramics: Analyst Upgrade Amidst Demand Softness
Kajaria Ceramics: Analyst Upgrade Amidst Demand Softness

4th February 2026, 3:00 pm

Ellenbarrie's Weak Quarter; Analyst Slashes Target Amidst Gas Price Woes
Ellenbarrie's Weak Quarter; Analyst Slashes Target Amidst Gas Price Woes

4th February 2026, 3:00 pm

Kajaria Ceramics: Flat Q3 Revenue, Fraud Impact; BUY Rating Held
Kajaria Ceramics: Flat Q3 Revenue, Fraud Impact; BUY Rating Held

2nd February 2026, 6:40 pm

Somany Ceramics Plunges 27%, Yet Analysts Signal Turnaround Hopes
Somany Ceramics Plunges 27%, Yet Analysts Signal Turnaround Hopes

15th January 2026, 10:34 am

Nifty SmallCap Flags Bearish Death Cross; 132 Stocks Follow Suit
Nifty SmallCap Flags Bearish Death Cross; 132 Stocks Follow Suit

12th January 2026, 11:54 am

Documents

Announcements

Report On Special Window For Re-Lodgement Of Transfer Request Of Physical Shares

7 Jan - SEBI window report (07.12.2025–06.01.2026): 1 transfer request received, 1 processed, 1 rejected; average 10 days.

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

2 Jan - Certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended December 31, 2025

Closure of Trading Window
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome

27 Dec - Conference call discloses ~INR20 crore vendor fraud at Kerovit Global; police complaint; potential exceptional loss; recovery uncertain.

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome

22 Dec - Posted audio of Dec 22 investor call regarding fraud in step-down wholly-owned subsidiary.

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

Financial Year 2022

(from bse)

Financial Year 2021

(from bse)

Financial Year 2020

(from bse)

Financial Year 2019

(from bse)

Financial Year 2018

(from bse)

Financial Year 2017

(from bse)

Financial Year 2016

(from bse)

Financial Year 2015

(from bse)

Financial Year 2014

(from bse)

Financial Year 2013

(from bse)

Financial Year 2012

(from bse)

Financial Year 2012

(from nse)

Credit Ratings

Rating update

30 Dec from icra

Rating update

18 Dec 2024 from icra

Rating update

30 Oct 2024 from icra

Rating update

12 Mar 2024 from icra

Rating update

13 Jun 2023 from icra

Rating update

9 Dec 2022 from icra

Concalls

Dec 2025

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Oct 2025

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Oct 2023

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Oct 2020

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Stock Analysis

Description

  1. Kajaria Ceramics Limited is India's largest manufacturer of ceramic and vitrified tiles, with a significant presence in the building materials sector.

Key Growth Triggers

  1. Strategic overhaul ('Rebuilding Kajaria', 'Kajaria 2.0') focused on agility, efficiency, and quality growth.
  2. Vertical integration through subsidiary investments in adhesives for enhanced value chain.

Order Book

  1. Currently no data available for Order Book.

Key Red Flags

  1. Discovery of a ₹20 crore fraud at its step-down subsidiary KGPL due to CFO embezzlement, leading to termination and police action.
  2. Decline in FY25 EBITDA (-15%) and PAT (-30%) due to pricing pressures and cost increases.

Key Dates To Watch

  1. Board Meeting for Q3 FY26 results and interim dividend: October 16, 2025.
  2. 39th Annual General Meeting (AGM): September 29, 2025.
  3. Trading window closure: January 1, 2026, until 48 hours after Q3 FY26 results.

Corporate Announcements

2nd Apr 26
Impact Rating: 5
Kajaria Ceramics Limited announced that its Nepal-based joint venture, Kajaria Ramesh Tiles Limited (KRTL), has incorporated K.R. Industries Private Limited (KIPL) in Nepal, marking a 50% indirect ownership for Kajaria Ceramics.
2nd Apr 26
Impact Rating: 6
Kajaria Ceramics Limited's share registrar confirmed compliance with SEBI rules for the quarter ending March 31, 2026, stating that dematerialized securities are listed and physical certificates are cancelled.
1st Apr 26
Impact Rating: 6
Kajaria Ceramics Limited has appointed Vinit Kumar as its new Company Secretary and Compliance Officer, effective April 1, 2026.
26th Mar 26
Impact Rating: -
No description available.
25th Mar 26
Impact Rating: 3
No description available.