KAJARIA CERAMICS LIMITED Financials Kajaria Ceramics Limited
Equities
KAJARIACER
INE217B01036
Construction Supplies & Fixtures
|
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,207 INR | -3.09% |
|
-5.27% | -7.32% |
| May. 09 | Jefferies Adjusts Kajaria Ceramics' Price Target to INR1,500 From INR1,630, Keeps at Buy | MT |
| May. 08 | Transcript : Kajaria Ceramics Limited, Q4 2024 Earnings Call, May 08, 2024 |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 93,892 | 59,855 | 147,007 | 162,054 | 167,839 | 192,257 | - | - |
| Enterprise Value (EV) 1 | 92,572 | 58,785 | 143,517 | 159,089 | 165,994 | 180,739 | 187,652 | 186,019 |
| P/E ratio | 41.5 x | 23.4 x | 47.7 x | 43 x | 48.8 x | 43.7 x | 38.5 x | 31.4 x |
| Yield | 0.51% | 0.8% | 1.08% | 1.08% | 0.85% | 1.04% | 1.08% | 1.27% |
| Capitalization / Revenue | 3.18 x | 2.13 x | 5.29 x | 4.37 x | 3.83 x | 4.02 x | 3.78 x | 3.31 x |
| EV / Revenue | 3.13 x | 2.09 x | 5.16 x | 4.29 x | 3.79 x | 3.95 x | 3.69 x | 3.2 x |
| EV / EBITDA | 20.6 x | 14.1 x | 28.2 x | 26.1 x | 28 x | 25.8 x | 23.3 x | 19.5 x |
| EV / FCF | 47.8 x | 58.5 x | 36.2 x | 101 x | 260 x | 60 x | 51.8 x | 42.3 x |
| FCF Yield | 2.09% | 1.71% | 2.76% | 0.99% | 0.38% | 1.67% | 1.93% | 2.37% |
| Price to Book | 5.85 x | 3.49 x | 7.87 x | 7.64 x | 7.21 x | 7.04 x | 6.6 x | 5.87 x |
| Nbr of stocks (in thousands) | 158,950 | 158,957 | 159,081 | 159,204 | 159,233 | 159,258 | - | - |
| Reference price 2 | 590.7 | 376.6 | 924.1 | 1,018 | 1,054 | 1,207 | 1,207 | 1,207 |
| Announcement Date | 5/10/19 | 6/26/20 | 6/14/21 | 5/17/22 | 5/16/23 | 5/7/24 | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 29,562 | 28,080 | 27,809 | 37,052 | 43,819 | 45,784 | 50,902 | 58,161 |
| EBITDA 1 | 4,495 | 4,159 | 5,088 | 6,107 | 5,920 | 6,997 | 8,042 | 9,546 |
| EBIT 1 | 3,604 | 3,078 | 4,022 | 4,953 | 4,592 | 5,517 | 6,404 | 7,805 |
| Operating Margin | 12.19% | 10.96% | 14.46% | 13.37% | 10.48% | 12.05% | 12.58% | 13.42% |
| Earnings before Tax (EBT) 1 | 3,580 | 3,124 | 4,127 | 5,102 | 4,625 | 5,756 | 6,776 | 8,277 |
| Net income 1 | 2,266 | 2,553 | 3,080 | 3,770 | 3,445 | 4,221 | 5,010 | 6,133 |
| Net margin | 7.66% | 9.09% | 11.08% | 10.17% | 7.86% | 9.22% | 9.84% | 10.55% |
| EPS 2 | 14.25 | 16.06 | 19.37 | 23.68 | 21.62 | 26.48 | 31.37 | 38.42 |
| Free Cash Flow 1 | 1,938 | 1,004 | 3,961 | 1,568 | 638.5 | 3,013 | 3,624 | 4,400 |
| FCF margin | 6.56% | 3.58% | 14.24% | 4.23% | 1.46% | 6.58% | 7.12% | 7.57% |
| FCF Conversion (EBITDA) | 43.12% | 24.15% | 77.84% | 25.68% | 10.79% | 43.06% | 45.07% | 46.09% |
| FCF Conversion (Net income) | 85.55% | 39.34% | 128.57% | 41.6% | 18.53% | 71.37% | 72.34% | 71.74% |
| Dividend per Share 2 | 3.000 | 3.000 | 10.00 | 11.00 | 9.000 | 12.00 | 13.05 | 15.39 |
| Announcement Date | 5/10/19 | 6/26/20 | 6/14/21 | 5/17/22 | 5/16/23 | 5/7/24 | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2021 S1 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 14,147 | 9,901 | 8,383 | 9,525 | 5,617 | 9,736 | 10,682 | 11,018 | 10,082 | 10,778 | 10,911 | 12,048 | 10,642 | 11,483 | 11,665 | 12,777 | 11,166 |
| EBITDA 1 | - | 1,361 | 1,818 | 1,909 | 804.2 | 1,805 | 1,838 | 1,659 | 1,536 | 1,294 | 1,331 | 1,759 | 1,692 | 1,837 | 1,866 | 2,025 | - |
| EBIT 1 | 1,592 | - | - | 1,644 | 539 | 1,523 | 1,558 | 1,333 | 1,212 | 957.6 | 1,005 | 1,416 | 1,387 | 1,671 | 1,578 | 1,677 | 1,176 |
| Operating Margin | 11.26% | - | - | 17.26% | 9.6% | 15.65% | 14.58% | 12.1% | 12.02% | 8.89% | 9.21% | 11.75% | 13.03% | 14.55% | 13.53% | 13.12% | 10.53% |
| Earnings before Tax (EBT) 1 | 1,616 | 854.9 | 1,580 | 1,692 | 568.8 | 1,567 | 1,602 | 1,364 | 1,257 | 965.7 | - | 1,405 | 1,427 | 1,596 | 1,541 | 1,690 | - |
| Net income 1 | 1,434 | 620.2 | 1,189 | 1,271 | 430.6 | 1,161 | 1,220 | 957.6 | 923 | 698.6 | 743.2 | 1,080 | 1,075 | 1,159 | 1,140 | 1,252 | - |
| Net margin | 10.14% | 6.26% | 14.19% | 13.34% | 7.67% | 11.93% | 11.42% | 8.69% | 9.15% | 6.48% | 6.81% | 8.97% | 10.1% | 10.1% | 9.77% | 9.8% | - |
| EPS 2 | - | - | 7.480 | 7.990 | 2.710 | 7.300 | 7.670 | 6.010 | 5.800 | 4.390 | - | 6.780 | 6.750 | 7.450 | 7.388 | 8.333 | - |
| Dividend per Share 2 | - | - | - | 10.00 | - | 8.000 | - | 3.000 | - | - | - | 9.000 | - | - | - | 13.50 | - |
| Announcement Date | 10/23/19 | 10/20/20 | 1/21/21 | 6/14/21 | 8/3/21 | 10/22/21 | 1/21/22 | 5/17/22 | 7/21/22 | 11/2/22 | 1/28/23 | 5/16/23 | 7/26/23 | - | - | - | - |
1INR in Million2INR
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 1,320 | 1,070 | 3,490 | 2,965 | 1,845 | 3,435 | 4,605 | 6,237 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 1,938 | 1,004 | 3,961 | 1,568 | 639 | 3,013 | 3,624 | 4,400 |
| ROE (net income / shareholders' equity) | 15.5% | 15.5% | 17.2% | 18.9% | 15.5% | 17.1% | 17.9% | 19.6% |
| ROA (Net income/ Total Assets) | 10% | - | 12.4% | 13.7% | 10.9% | 12.3% | 14% | 15.1% |
| Assets 1 | 22,568 | - | 24,826 | 27,566 | 31,585 | 34,367 | 35,782 | 40,617 |
| Book Value Per Share 2 | 101.0 | 108.0 | 117.0 | 133.0 | 146.0 | 164.0 | 183.0 | 206.0 |
| Cash Flow per Share 2 | 12.20 | 14.10 | 32.00 | 26.70 | - | 37.70 | 35.00 | 44.30 |
| Capex 1 | 1,235 | 1,240 | 1,127 | 2,687 | 2,317 | 3,004 | 2,850 | 2,740 |
| Capex / Sales | 4.18% | 4.42% | 4.05% | 7.25% | 5.29% | 6.56% | 5.6% | 4.71% |
| Announcement Date | 5/10/19 | 6/26/20 | 6/14/21 | 5/17/22 | 5/16/23 | 5/7/24 | - | - |
1INR in Million2INR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C+
Sell
Buy
Mean consensus
BUY
Number of Analysts
30
Last Close Price
1,207
INR
Average target price
1,395
INR
Spread / Average Target
+15.60%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -7.32% | 2.3B | |
| +20.88% | 43.88B | |
| +5.82% | 32.39B | |
| +33.88% | 19.86B | |
| -3.68% | 19.63B | |
| +4.39% | 15.42B | |
| +4.51% | 9.4B | |
| -7.99% | 8.76B | |
| +38.36% | 7.54B | |
| +4.79% | 7.41B |
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