EconomyCompanies
Kajaria Ceramics' profit rises 38% and it declares a ₹12 dividend
India's largest tile maker also approved ₹554 crore of expansion at three plants and will buy out the rest of its bathware business.
Key points
- Standalone net profit rose 37.7% to ₹166.28 crore in July-September.
- The board declared an interim dividend of ₹12 a share, with 29 October as the record date.
- It approved ₹554 crore of expansion at Srikalahasti, Gailpur and Durgapur.
Kajaria Ceramics reported a 37.7% rise in standalone net profit for the July-September quarter to ₹166.28 crore, from ₹120.72 crore a year earlier, and its board declared an interim dividend of ₹12 a share on Saturday.
Standalone revenue from operations rose 23.4% to ₹1,331.90 crore. Across the group, revenue grew 24% to ₹1,468.26 crore, and earnings before interest, tax, depreciation and amortisation rose 35% to ₹286.50 crore, lifting the margin to 19.51% from 17.94%. Consolidated profit after tax was ₹189.52 crore, up 43%, on sales volumes that were 10% higher.
For the six months to September, consolidated revenue was ₹2,796.34 crore and profit ₹358.98 crore, 48% more than a year earlier.
More capacity
The board approved ₹554 crore of new spending. The largest piece is ₹340 crore for a 12.5 million square metre project at the Srikalahasti plant in Andhra Pradesh, due by June 2027. Another ₹180 crore goes to an 11 million square metre project at Gailpur in Rajasthan, due by April 2027, and ₹34 crore to a tile adhesive unit at Durgapur that will make 9,000 tonnes a month by December 2027.
The company will also pay ₹50 crore for the remaining shares of Kajaria Bathware, making it a wholly owned subsidiary. It booked a ₹5.09 crore exceptional charge for impairment of its investment in Kajaria International FZCO.
Shareholders on the register on 29 October will receive the dividend, which is to be paid on or before 22 November.