In-line performance; volume growth stood at 6% YoY

Company
11 Mar 2024
5 Min read 
  • Kajaria Ceramics reported consolidated revenue/EBITDA growth of 6%/34% YoY in 3QFY24.
  •  The company expects to achieve 5-6% higher volume growth than the industry average in FY25.
  •  Demand is coming from both renovation and new projects, with 20% of revenues from metro cities.
  •  The company's EBITDA margin guidance of 14-16% has been achieved, with a margin of 15.8% in 9MFY24.
  •  The company plans to invest in acquiring a stake in Keronite Tiles Pvt Ltd and a plywood company in the north region.
  •  The stock has a buy rating with a target price of INR1,600 based on 40x FY26E EPS.
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