February 27, 2021

Indian & World Live Breaking News Coverage And Updates

Indian & World Live Breaking News Coverage And Updates

Kajaria Ceramics gains 7%, hits record high on strong Q3 operating margin

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Shares of hit a record high of Rs 839, up 7 per cent, on the BSE on Thursday after the company said operating margins have touched a new high of 21.68 per cent in the October-December quarter (Q3FY21).

The company said its sales volumes have improved by 11 per cent while sales have increased by 13 per cent over the corresponding quarter of the previous year.

The tile industry witnessed gradual demand pickup from the month of July onwards. Tile consumption has found its way into smaller cities and retail as the heat of pandemic was felt much more in the urban at that point in time. Tier 2 and below markets, the management believes, will continue to thrive in future as well.

In Q3FY21, reported 93 per cent year on year (YoY) jump in its consolidated net profit at Rs 118.94 crore as against a Rs 61.54-crore profit in Q3FY20. The company’s Ebitda (earnings before interest, taxes, depreciation, and amortization) margins expanded to 21.68 per cent from 15.02 per cent in the year-ago quarter.

The board of directors of the company also declared an interim dividend of Rs 10 per share of the face value of Re 1 each for the financial year 2020-21. The company has fixed February 3, as the record date for determining entitlement of shareholders to the aforesaid interim dividend.

is the largest manufacturer of ceramic and vitrified tiles in India and the 8th largest in the world. It has a present annual capacity of 70.40 million square meters.

In the past six months, the market price of the company has more than doubled and has zoomed 109 per cent as compared to a 32 per cent rally in the At 02:14 pm, the stock marginally erased its intra-day gain and was trading 4 per cent higher at Rs 814 on the BSE. The BSE Sensex was up 0.41 per cent at the same time. A combined 1.9 million equity shares have changed hands on the counter on the NSE and BSE.

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