Kajaria Ceramics Q4 net profit declines 5.2% YoY to ₹102 crore, dividend announced

Kajaria Ceramics, a leading player in the ceramics industry, reported a 5.2% decline in consolidated net profit at ₹102.4 crore for the quarter ended March 2024.

According to a regulatory filing, the tilemaker clocked a net profit of ₹108 crore in the same period last year.

Revenue from operations for Q4 FY24 stood at ₹1,240.8 crore compared to ₹1,204.8 crore in Q4 FY23, reflecting a 3% rise.

The company's earnings before interest, tax, depreciation and amortisation (EBITDA) for the period under review was at ₹172 crore, while EBITDA margins fell to 13.9%.

Expenses also rose 2.6% from ₹4,047.8 crore in FY24 compared to the previous fiscal's ₹3,945.1 crore.

Shares of Kajaria Ceramics closed at ₹1,184, up 1%, on the NSE after the announcement of quarterly results.

Dividend announced

Kajaria Ceramics has recommended a final dividend of ₹6 per share of the face value of ₹1 each for FY24, subject to shareholders' approval.

The company has also approved increasing investment in Kajaria Plywood Private Limited, a wholly-owned subsidiary company, from ₹115 crore to ₹125 crore.

Furthermore, the ceramics firm has given go-ahead for construction of a tile adhesive manufacturing facility in Gailpur, Rajasthan, with an annual capacity of 36000 tonnes and an estimated project cost of ₹15 crore.

Kajaria Ceramics is the leading producer of ceramic and vitrified tiles in India. With an annual aggregate capacity of 86.47 million square metres, the company operates seven plants, including Sikandrabad in Uttar Pradesh, Gailpur and Malootana in Rajasthan, Srikalahasti in Andhra Pradesh, Balanagar in Telangana, and two plants in Gujarat.

The company uses cutting-edge technology, intense automation, and robotic car applications, eliminating human error.