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10 Yrs X-Ray 
Valuation 
Analyst Note 
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About
Murudeshwar Ceramics Ltd (MURUDCERA)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 515037 NSE: MURUDCERA Ceramics/Marble/Granite/Sanitaryware | Small Cap | Murudeshwar Ceramics Share Price
₹28.94 0.89 (3.17%)
As on 21-Sep'26 14:38
Murudeshwar Ceramics Ltd (MURUDCERA)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 515037 NSE: MURUDCERA Ceramics/Marble/Granite/Sanitaryware | Small Cap | Murudeshwar Ceramics Share Price
₹28.94 0.89 (3.17%)
As on 21-Sep'26 14:38
Key Metrics
Valuation Multiples
Market Cap
₹170 Cr.
Current Price
₹28.9
52-Week Low / High
₹24 / 51
TTM EPS
₹1.6
TTM Sales
₹209 Cr.
Book Value per Share
₹62.9
P/E Ratio
17.54
Lower than its 5-year historical median
Industry PE
39
Price to Book (P/B)
0.45
Lower than its 5-year historical median
Price to Sales (P/S)
0.81
Lower than its 5-year historical median
EV/EBITDA
7.15
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
2.99%
Outperforms industry median
Return on Capital Employed (ROCE)
5.23%
In line with industry median
Return on Assets (ROA)
1.90%
Operating Profit Margin
15.3%
Net Profit Margin
5.48%
Gross Profit Margin
13.9%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
1.29%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-9.02%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
13.51%
Asset Quality
Promoter Holding
73.94%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹320 Cr.
Equity
₹60.6 Cr.
Face Value
₹10
All Time Low / High
₹3.15 / 119.07
Check Before You Invest
Quality
Not GoodValuation
UndervaluedCheck Valuation charts
Price Trend
Weak
Is Murudeshwar Ceramics Ltd a good quality company?
Murudeshwar Ceramics Ltd is a weak quality company, based on a inconsistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Murudeshwar Ceramics Ltd performance compare with that of its Peers?
Revenue growth of Murudeshwar Ceramics Ltd vs industry peers?
Murudeshwar Ceramics Ltd revenue CAGR is 0.00%, compared to the industry median CAGR of 0.00%, indicating stable growth and maintaining its market share.
Promoter shareholding and pledge status of Murudeshwar Ceramics Ltd?
Promoters hold 73.94% of the Murudeshwar Ceramics Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Murudeshwar Ceramics Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of -1.7% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Murudeshwar Ceramics Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 4.6% | 5.6% | 5% | 4.6% | 0% | 4.1% | 4.7% | 4.8% | 5.3% | 5.2% | - |
| Value Creation Index ⓘ | -0.7 | -0.6 | -0.6 | -0.7 | NA | -0.7 | -0.7 | -0.7 | -0.6 | -0.6 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 105 | 119 | 126 | 103 | 80.5 | 123 | 172 | 186 | 203 | 205 | 209 |
| Sales YoY Gr. | - | 13.4% | 5.4% | -18% | -22% | 52.7% | 40.3% | 8.1% | 8.9% | 1.3% | - |
| Adj EPS ⓘ | 0.3 | 1.1 | 1 | 0.4 | -2.3 | 0.4 | 1.1 | 0.9 | 1.6 | 1.4 | 1.7 |
| YoY Gr. | - | 260% | -10.2% | -63.9% | -748.6% | NA | 225.7% | -25.4% | 91.8% | -14.1% | - |
| BVPS (₹) ⓘ | 75.4 | 70.9 | 70 | 70.3 | 63.2 | 61.5 | 60.6 | 60.2 | 61.3 | 62.7 | 62.9 |
| Adj Net Profit ⓘ | 1.3 | 4.9 | 4.6 | 1.7 | -11.9 | 2 | 6.6 | 5.1 | 9.8 | 8.5 | 10 |
| Cash Flow from Ops. ⓘ | 22.8 | 4.9 | 14.6 | 47.5 | 0.5 | 23.6 | 42.4 | 30.9 | 28.8 | 13.3 | - |
| Debt/CF from Ops. ⓘ | 4.4 | 21 | 6.3 | 1.6 | 169.8 | 3.4 | 2.8 | 3.5 | 3.6 | 10.6 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 7.7% | 20.6% | 6% | 1.3% | ||||
| Adj EPS ⓘ | 18.7% | NA | 7.1% | -14.1% | ||||
| BVPSⓘ | -2% | -0.2% | 1.2% | 2.3% | ||||
| Share Price | -1.4% | 3.4% | -15.4% | -33.7% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 0.4 | 1.5 | 1.4 | 0.5 | -3.6 | 0.6 | 1.9 | 1.4 | 2.7 | 2.3 | 2.7 |
| Op. Profit Mgn % ⓘ | 25 | 26.5 | 22.8 | 20.1 | 11.3 | 21.2 | 17.9 | 16.4 | 17.1 | 15.3 | 15.8 |
| Net Profit Mgn % ⓘ | 1.2 | 4.1 | 3.7 | 1.6 | -14.8 | 1.6 | 3.8 | 2.8 | 4.9 | 4.1 | 4.8 |
| Debt to Equity ⓘ | 0.3 | 0.3 | 0.3 | 0.2 | 0.3 | 0.2 | 0.3 | 0.3 | 0.3 | 0.4 | - |
| Working Cap Days ⓘ | 522 | 481 | 477 | 575 | 719 | 469 | 329 | 300 | 291 | 317 | 154 |
| Cash Conv. Cycle ⓘ | 374 | 361 | 372 | 432 | 543 | 348 | 234 | 212 | 203 | 226 | 45 |
Valuation of Murudeshwar Ceramics - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|
| Sales | 123 | 172 | 186 | 203 | 205 |
| Operating Expenses ⓘ + | 97 | 142 | 156 | 168 | 174 |
| Operating Profit ⓘ | 26 | 31 | 30 | 35 | 31 |
| Operating Profit Margin (%) | 21.1% | 17.9% | 16.1% | 17.1% | 15.3% |
| Other Income ⓘ + | 1 | 1 | 4 | 5 | 10 |
| Interest ⓘ | 13 | 13 | 11 | 13 | 12 |
| Depreciation ⓘ | 10 | 11 | 12 | 14 | 15 |
| Profit Before Tax ⓘ | 4 | 7 | 11 | 12 | 14 |
| Tax ⓘ | 2 | 1 | 6 | 2 | 2 |
| Profit After Tax | 2 | 7 | 5 | 10 | 11 |
| PAT Margin (%) | 1.8% | 3.8% | 2.8% | 4.9% | 5.5% |
| Adjusted EPS (₹) | 0.4 | 1.1 | 0.8 | 1.6 | 1.8 |
| Dividend Payout Ratio (%) | 0% | 44.90% | 60.90% | 31.50% | 0% |
| PARTICULARS | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 339 | 350 | 366 | 372 | 380 | ||||||
| Debt + | 81 | 118 | 107 | 104 | 140 | ||||||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | ||||||
| Trade Payables | 19 | 28 | 25 | 31 | 33 | ||||||
| Others Liabilities ⓘ | 37 | 45 | 51 | 63 | 63 | ||||||
| Total Liabilities ⓘ | 476 | 541 | 548 | 570 | 616 | ||||||
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 296 | 295 | 360 | 348 | 389 | ||||||
| CWIP ⓘ | 6 | 78 | 10 | 38 | 24 | ||||||
| Investments ⓘ | 10 | 10 | 10 | 10 | 9 | ||||||
| Inventories | 112 | 118 | 116 | 109 | 115 | ||||||
| Trade Receivables | 22 | 16 | 16 | 41 | 51 | ||||||
| Cash Equivalents | 6 | 2 | 14 | 2 | 6 | ||||||
| Others Assets ⓘ | 23 | 21 | 21 | 23 | 21 | ||||||
| Total Assets ⓘ | 476 | 541 | 548 | 570 | 616 | ||||||
| PARTICULARS | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 23 | 43 | 31 | 29 | 13 |
| Cash Flow From Investing Activity ⓘ + | -13 | -82 | -5 | -24 | -32 |
| Cash Flow From Financing Activity ⓘ + | -8 | 35 | -13 | -16 | 23 |
| Net Cash Flow ⓘ | 3 | -4 | 13 | -12 | 4 |
| PARTICULARS | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 0.63 | 1.92 | 1.43 | 2.69 | 2.99 | |||||
| ROCE (%) | 4.04 | 4.64 | 4.77 | 5.27 | 5.23 | |||||
| Asset Turnover Ratio | 0.26 | 0.34 | 0.34 | 0.36 | 0.35 | |||||
| PAT to CFO Conversion(x) | 11.5 | 6.14 | 6.2 | 2.9 | 1.18 | |||||
| Working Capital Days | ||||||||||
| Receivable Days | 65.60 | 40.80 | 32.20 | 51.30 | 81.80 | |||||
| Inventory Days | 333 | 243.60 | 229 | 202 | 198.30 | |||||
| Payable Days | 191.30 | 186.70 | 220.50 | 183.10 | 228.70 | |||||
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Murudeshwar Ceramics Ltd FAQs
The current trading price of Murudeshwar Ceramics on 21-Sep-2026 14:38 is ₹28.94.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 20-Sep-2026 the market cap of Murudeshwar Ceramics stood at ₹169.8 Cr
The latest P/E ratio of Murudeshwar Ceramics as of 20-Sep-2026 is 16.77.
The latest P/B ratio of Murudeshwar Ceramics as of 20-Sep-2026 is 0.45.
The 52-week high of Murudeshwar Ceramics is ₹51.00 and the 52-week low is ₹23.66.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Murudeshwar Ceramics is ₹209 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Murudeshwar Ceramics Ltd is a below average quality company.
The key valuation ratios of Murudeshwar Ceramics Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Murudeshwar Ceramics Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Murudeshwar Ceramics Ltd
Murudeshwar Ceramics was incorporated on June 29, 1983. The company is a manufacturer of ceramic glazed floor tiles. The company was promoted by R N Shetty and his associates and Karnataka State Industrial Investment & Development Corporation (KSIIDC) in the joint sector.
In the year 1983, the company entered into a technical and financial collaboration agreement with Klingenberg Dekoramik, GmbH, W Germany for technical know-how, ceramic technical documentation, assistance in machinery selection, establishing production and training Indian technicians in Germany.
In the year 1992, the company introduced Plaza, Galaxy and Symphony series of ceramic tiles which were well received in the market. Also, tiles in sizes viz. 25cm x 20cm and 20cm x 15cm were introduced.
The company manufactures glazed ceramic floor tiles, vitrified porcelain and natural granite slabs. The company markets its products under the brand name Naveen. The manufacturing facilities are located in Hubli (Karnataka) and Karaikal (Pondicherry) with a production capacity of 75,000 TPA. The units are equipped with state- of- the- art technology in technical collaboration with Sacmi Imola & Breton, Italy. The company is planning to set up a plant in north India with an installed capacity of 10,000-12,000 square meters per day.
The products are tested and certified by Shriram Institute of Industrial Research for product quality conformance. R&D cells attached to the manufacturing units work independently and constantly to develop new colors, designs, textures, finishes and sizes in sync with the latest global trends.
The company has a countrywide network of offices and dealers and sells directly to large projects. Its products are exported to countries such as USA, Australia, Republic of South Africa, Russia, Sri Lanka the Middle East, Kenya and Mauritius.
The registered office of the company is at Murudeshwar Bhavan, Gokul Road, Hubli-580030, Karnataka.
Product of the company
- Ceramic Glazed Tiles
- Earth Material
- Polished Granite Slabs
Certification/ Recognition
- The company has been accredited with the ISO 9001:2000 certification
- MCL has received a state award from Government of Karnataka for excellence in exports for the year 1995-1996.
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