Kajaria Ceramics Ltd is primarily engaged in manufacturing and trading of ceramic and vitrified tiles in India. It is the largest manufacturer of ceramic/vitrified tiles in India and 8th largest in the world. The company was incorporated in 1985 and is headquartered in New Delhi, India. Incorporated in 1985, the company has been providing world-class products to customers for over 35 years.
Kajaria Ceramics Limited is an India-based manufacturer of ceramic/vitrified tiles. The Company's segments include Tiles and Others. The Tiles segment is engaged in the manufacturing and trading of ceramic and vitrified wall and floor tiles. The Others segment is engaged in the manufacturing of sanitary ware and faucet and trading of plywood and block board, and also includes bath ware and plywood products.
The company operates with substantial manufacturing capabilities across multiple states in India. It has an annual capacity of 81.55 million square meters (MSM) and being distributed across 8 plants (1 in Sikandrabad (Uttar Pradesh), 1 in Gailpur (Rajasthan), 1 in Malootana (Rajasthan), 3 in Morbi (Gujarat)). The company has been expanding its manufacturing footprint, with the Company has completed setting up manufacturing facility at 19 KM Stone Bhiwadi Alwar Road Village Gailpur Distt. Tijara (Rajasthan) having annual production capacity of 36000 tonnes (on single shift basis) of tiles adhesive and the said facility has commenced the commercial production today i.e. May 30, 2025.
The company's product portfolio mainly includes ceramic wall & floor tiles, polished & glazed vitrified tiles, bath-ware solutions, and plywood & laminates. In FY23, tiles accounted for ~88% of revenues while the rest of products accounted for ~12% of revenues. Kajaria Ceramics Limited manufactures and sells ceramic and vitrified tiles under the Kajaria, Kerovit, Gresbond, and Eternity brands in India. The company's products include ceramic wall and floor tiles, polished vitrified tiles, glazed vitrified tiles, sanitary ware and faucets, and plywood and laminates, as well as tile adhesives, epoxy and unsanded grout, and tile cleaner.
The company's popular brands include Kajaria Eternity, Kajaria World, Kajaria Ritz, and Kajaria Infinity. Its product categories include glazed vitrified tiles - Eternity, ceramic wall and floor tiles, polished vitrified tiles and tile adhesives.
Kajaria Ceramics has established a strong international presence through its export operations. It also exports its products to approximately 35 countries. The company has been actively expanding its international footprint to tap into global markets for ceramic and vitrified tiles.
The company's recent financial performance shows mixed results. Net profit of Kajaria Ceramics declined 58.49% to ₹42.52 Crore in the quarter ended March 2025, as against ₹102.44 Crore during the previous quarter ended March 2024. Sales rose 1.13% to ₹1,221.85 Crore in the quarter ended March 2025, as against ₹1,208.17 Crore during the previous quarter ended March 2024.
For the full year performance, net profit declined 30.27% to ₹294.35 Crore in the year ended March 2025, as against ₹422.11 Crore during the previous year ended March 2024. Sales rose 3.60% to ₹4,635.07 Crore in the year ended March 2025, as against ₹4,474.03 Crore during the previous year ended March 2024.
Key Financial Metrics (Q4 FY25):
- Revenue: ₹1,221.85 Crore (March 2025)
- Net Profit: ₹42.52 Crore (March 2025)
- Annual Revenue (FY25): ₹4,635.07 Crore
- Annual Net Profit (FY25): ₹294.35 Crore
Kajaria Ceramics Ltd has a market capitalization of ₹16,269 Crore. The Kajaria Ceramics Ltd's 52-week high share price is ₹1,578.25 and 52-week low share price is ₹745.00. As per Value Research classification, it is a Mid Cap company. The P/B ratio of Kajaria Ceramics Ltd is 5.49 times as on May 16, 2025, a 121% premium to its peers' median range of 2.48 times. The P/E ratio of Kajaria Ceramics Ltd is 51.23 times as on May 16, 2025, a 0% premium to its peers' median range of 51.23 times.
The chairman of the company is Ashok Kajaria, and the managing director is Ashok Kajaria. Promoter holding in Kajaria Ceramics Ltd has gone down to 47.48% as of March 2025 from 47.49% as of June 2024. The company has been strengthening its board structure, with Ambika Sharma appointed Independent Director of Kajaria Ceramics for five years from March 2025.
The company has been taking strategic decisions to focus on its core business. Kajaria Ceramics' Q4 FY25 results show a 59% drop in net profit to ₹43 Crore, impacted by weak demand and losses from its plywood business. The company plans to exit the plywood business and focus on tile production, despite a 2% increase in tile volumes.
Kajaria Ceramics announced that the Board of Directors of the Company at its meeting held on May 6, 2025, inter alia, have recommended the final dividend of ₹4 per equity Share (i.e., 400%), subject to the approval of the shareholders.
75% of analysts recommend a 'BUY' rating for Kajaria Ceramics Ltd. Average target price of ₹975.71. Kajaria Ceramics faces mixed analyst sentiments; Emkay Global maintains a BUY rating with a target of Rs 1050, while Prabhudas Lilladher downgrades to Accumulate at Rs 878 due to weak demand and margin issues.
The company continues to maintain its position as India's largest ceramic and vitrified tile manufacturer, with strong brand recognition and extensive distribution network. Despite recent challenges in profitability, the company's strategic focus on core tile business and ongoing capacity expansion positions it well for future growth in the Indian ceramic tiles market.
