KAJARIACER · Consumer Durables
Kajaria Ceramics Ltd. reported revenue of ₹1,096 cr for April to June 2024, +3.0% on the year and −9.3% on the quarter.
Operating profit (EBITDA) was ₹169 cr, a margin of 15.4%, −46 bps on the year and +118 bps on the quarter. Operating costs grew +3.6%, faster than revenue at +3.0%, so operating profit grew less than sales.
Net profit was ₹92.0 cr, −15.6% on the year and −11.5% on the quarter, with earnings per share of ₹5.64. Profit before other income, one-offs and tax grew faster, at −8.2%; other income, one-offs or tax held the headline back. The tax rate of 28% is in line with its recent average.
Retail growth comes from new stores and from sales at existing stores; the statements show the total, the filing shows how much each contributed. The quarterly statements do not carry same-store sales, stores added and revenue per square foot; those come with the filing read.
On earnings per share of ₹25.39 over the last four quarters, the stock at ₹1,199.50 trades at 47.2 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,152 cr | ₹1,208 cr | ₹1,096 cr | ₹1,179 cr | ₹1,156 cr | ₹1,222 cr | ₹1,103 cr | ₹1,186 cr | ₹1,168 cr | ₹1,373 cr | ₹1,328 cr | ₹1,468 cr |
| YoY | — | — | +3% | +5% | +0% | +1% | +1% | +1% | +1% | +12% | +20% | +24% |
| EBITDA margin | 15.5% | 14.2% | 15.4% | 13.2% | 13.1% | 11.3% | 17.0% | 18.0% | 17.1% | 19.2% | 19.6% | 19.6% |
| Other income, % of PBT | 8% | 11% | 4% | 8% | 4% | −14% | 8% | 8% | −22% | 4% | 8% | 7% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 26% | 25% | 28% | 29% | 28% | 44% | 26% | 26% | 31% | 30% | 26% | 25% |
| Net profit | ₹108 cr | ₹104 cr | ₹92.0 cr | ₹86.0 cr | ₹79.0 cr | ₹43.0 cr | ₹110 cr | ₹134 cr | ₹86.0 cr | ₹157 cr | ₹171 cr | ₹191 cr |
| YoY | — | — | −16% | −23% | −27% | −59% | +20% | +56% | +9% | +265% | +55% | +43% |
| Core profit YoY | — | — | −8% | −20% | −21% | −29% | +12% | +50% | +44% | +142% | +54% | +43% |
| EPS | ₹6.54 | ₹6.43 | ₹5.64 | ₹5.29 | ₹4.88 | ₹2.67 | ₹6.84 | ₹8.35 | ₹5.51 | ₹9.78 | ₹10.64 | ₹12.06 |
| Flags | · | · | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | 1 | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Kajaria Ceramics Ltd. reported revenue of ₹1,096 cr (+3.0% on the year) and net profit of ₹92.0 cr (−15.6% on the year) for April to June 2024.
Profit before other income, exceptional items and tax moved −8.2% on the year, against −15.6% for reported profit.
None of the 7 checks that could run raised a question.
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