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Exxaro Tiles Ltd (EXXARO)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543327 NSE: EXXARO Ceramics/Marble/Granite/Sanitaryware | Small Cap | Exxaro Tiles Share Price
₹6.29 0.05 (0.80%)
As on 21-Sep'26 16:00
Exxaro Tiles Ltd (EXXARO)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543327 NSE: EXXARO Ceramics/Marble/Granite/Sanitaryware | Small Cap | Exxaro Tiles Share Price
₹6.29 0.05 (0.80%)
As on 21-Sep'26 16:00
Key Metrics
Valuation Multiples
Market Cap
₹279 Cr.
Current Price
₹6.3
52-Week Low / High
₹6 / 10
TTM EPS
₹0.1
TTM Sales
₹325 Cr.
Book Value per Share
₹6.3
P/E Ratio
68.18
Higher than its 5-year historical median
Industry PE
39
Price to Book (P/B)
0.99
Lower than its 5-year historical median
Price to Sales (P/S)
0.86
Lower than its 5-year historical median
EV/EBITDA
13.36
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
1.02%
Underperforms industry median
Return on Capital Employed (ROCE)
4.32%
Underperforms industry median
Return on Assets (ROA)
0.58%
Operating Profit Margin
8.2%
Net Profit Margin
0.93%
Gross Profit Margin
4.5%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-5.94%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
10.51%
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
42.07%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹237 Cr.
Equity
₹44.7 Cr.
Face Value
₹1
All Time Low / High
₹5.22 / 17.25
Check Before You Invest
Quality
Not GoodValuation
UndervaluedCheck Valuation charts
Price Trend
Semi Strong
Is Exxaro Tiles Ltd a good quality company?
Exxaro Tiles 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 Exxaro Tiles Ltd performance compare with that of its Peers?
Revenue growth of Exxaro Tiles Ltd vs industry peers?
Exxaro Tiles Ltd revenue CAGR is 3.63%, compared to the industry median CAGR of 0.00%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Exxaro Tiles Ltd?
Promoters hold 42.07% of the Exxaro Tiles Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Exxaro Tiles Ltd over the last decade?
Over the last 5 year(s), the stock has delivered a CAGR of -16.03% 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.
Exxaro Tiles 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 % ⓘ | 12.9% | 11% | 9.3% | 11.3% | 13% | 11.6% | 5.6% | 4.7% | 3.5% | 4.1% | - |
| Value Creation Index ⓘ | -0.1 | -0.2 | -0.3 | -0.2 | -0.1 | -0.2 | -0.6 | -0.7 | -0.8 | -0.7 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 168 | 220 | 242 | 241 | 255 | 325 | 317 | 302 | 300 | 282 | 292 |
| Sales YoY Gr. | - | 30.6% | 10.3% | -0.6% | 6% | 27.5% | -2.5% | -4.9% | -0.7% | -5.9% | - |
| Adj EPS ⓘ | 0.4 | 0.3 | 0.3 | 0.3 | 0.5 | 0.4 | 0.2 | 0 | -0 | 0 | 0.1 |
| YoY Gr. | - | -29.7% | -3.9% | 24% | 48.4% | -10.9% | -63.4% | -73.3% | -150% | NA | - |
| BVPS (₹) ⓘ | 2.9 | 3 | 3.3 | 3.6 | 4.1 | 6 | 6.1 | 6.2 | 6.2 | 6.2 | 6.2 |
| Adj Net Profit ⓘ | 12 | 8.6 | 8.3 | 10.5 | 15.4 | 18.2 | 6.7 | 1.8 | -0.9 | 1.9 | 3 |
| Cash Flow from Ops. ⓘ | 0.8 | 1.7 | 40.8 | 5.7 | 37.8 | 24.8 | 23.2 | 5.3 | 23.6 | 30.8 | - |
| Debt/CF from Ops. ⓘ | 193.2 | 108 | 3.9 | 30.5 | 4.3 | 2.3 | 4.1 | 18.5 | 3.8 | 3 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 5.9% | 2% | -3.9% | -5.9% | ||||
| Adj EPS ⓘ | -21.9% | -38.6% | -35.6% | NA | ||||
| BVPSⓘ | 9% | 9% | 0.5% | 0.8% | ||||
| Share Price | - | -16% | -21.9% | -30.8% | ||||
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 % ⓘ | 14.3 | 8.7 | 7.9 | 9.2 | 12 | 9 | 2.5 | 0.7 | -0.3 | 0.7 | 1 |
| Op. Profit Mgn % ⓘ | 19 | 18 | 15.6 | 17.9 | 19.1 | 14.4 | 10.5 | 8.1 | 7.1 | 8.5 | 8.3 |
| Net Profit Mgn % ⓘ | 7.1 | 3.9 | 3.4 | 4.4 | 6 | 5.6 | 2.1 | 0.6 | -0.3 | 0.7 | 0.9 |
| Debt to Equity ⓘ | 1.6 | 1.8 | 1.5 | 1.4 | 1.2 | 0.2 | 0.3 | 0.4 | 0.3 | 0.3 | - |
| Working Cap Days ⓘ | 188 | 246 | 249 | 286 | 296 | 246 | 283 | 329 | 352 | 369 | 172 |
| Cash Conv. Cycle ⓘ | 75 | 139 | 140 | 177 | 181 | 162 | 181 | 207 | 213 | 211 | 69 |
Valuation of Exxaro Tiles - 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'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|
| Sales | 255 | 325 | 317 | 302 | 304 | 305 |
| Operating Expenses ⓘ + | 207 | 278 | 284 | 277 | 282 | 280 |
| Operating Profit ⓘ | 48 | 47 | 33 | 25 | 23 | 25 |
| Operating Profit Margin (%) | 19.0% | 14.4% | 10.5% | 8.1% | 7.4% | 8.2% |
| Other Income ⓘ + | 4 | 3 | 3 | 2 | 1 | 1 |
| Interest ⓘ | 21 | 10 | 9 | 14 | 12 | 12 |
| Depreciation ⓘ | 14 | 14 | 16 | 9 | 10 | 10 |
| Profit Before Tax ⓘ | 17 | 26 | 10 | 3 | 2 | 4 |
| Tax ⓘ | 2 | 8 | 3 | 1 | 2 | 1 |
| Profit After Tax | 15 | 18 | 7 | 2 | -0 | 3 |
| PAT Margin (%) | 6.0% | 5.6% | 2.3% | 0.7% | -0.0% | 0.9% |
| Adjusted EPS (₹) | 0.5 | 0.4 | 0.2 | 0.1 | 0.0 | 0.1 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 136 | 267 | 274 | 277 | 277 | 280 | |||||
| Debt + | 143 | 57 | 91 | 90 | 85 | 82 | |||||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | |||||
| Trade Payables | 51 | 58 | 77 | 91 | 100 | 90 | |||||
| Others Liabilities ⓘ | 39 | 24 | 26 | 29 | 29 | 36 | |||||
| Total Liabilities ⓘ | 369 | 405 | 468 | 486 | 491 | 488 | |||||
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 159 | 150 | 198 | 194 | 192 | 190 | |||||
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | |||||
| Investments ⓘ | 1 | 0 | 10 | 1 | 0 | 0 | |||||
| Inventories | 104 | 114 | 132 | 155 | 164 | 157 | |||||
| Trade Receivables | 90 | 101 | 110 | 117 | 115 | 102 | |||||
| Cash Equivalents | 5 | 19 | 3 | 4 | 5 | 6 | |||||
| Others Assets ⓘ | 9 | 20 | 13 | 15 | 15 | 32 | |||||
| Total Assets ⓘ | 369 | 405 | 468 | 486 | 491 | 488 | |||||
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 38 | 25 | 23 | 5 | 23 | 33 |
| Cash Flow From Investing Activity ⓘ + | -2 | -9 | -67 | 6 | -5 | -19 |
| Cash Flow From Financing Activity ⓘ + | -34 | -1 | 28 | -11 | -17 | -14 |
| Net Cash Flow ⓘ | 2 | 14 | -16 | 0 | 1 | -0 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 11.19 | 8.99 | 2.69 | 0.82 | -0.04 | 1.02 | ||||
| ROCE (%) | 12.93 | 11.64 | 5.62 | 4.69 | 3.69 | 4.32 | ||||
| Asset Turnover Ratio | 0.69 | 0.84 | 0.73 | 0.63 | 0.62 | 0.62 | ||||
| PAT to CFO Conversion(x) | 2.53 | 1.39 | 3.29 | 2.5 | N/A | 11 | ||||
| Working Capital Days | ||||||||||
| Receivable Days | 128.90 | 107.50 | 121.90 | 137.40 | 139.10 | 130.20 | ||||
| Inventory Days | 149.30 | 122.70 | 141.70 | 173.60 | 191.70 | 192.60 | ||||
| Payable Days | 220 | 169.50 | 221.30 | 279.40 | 291.90 | 276.90 | ||||
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Announcements
Exxaro Tiles Ltd FAQs
The current trading price of Exxaro Tiles on 21-Sep-2026 16:00 is ₹6.29.
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 Exxaro Tiles stood at ₹279.2 Cr
The latest P/E ratio of Exxaro Tiles as of 20-Sep-2026 is 109.2.
The latest P/B ratio of Exxaro Tiles as of 20-Sep-2026 is 1.00.
The 52-week high of Exxaro Tiles is ₹10.33 and the 52-week low is ₹5.71.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Exxaro Tiles is ₹292 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Exxaro Tiles Ltd is a below average quality company.
The key valuation ratios of Exxaro Tiles 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 Semi Strong which suggest that the price of Exxaro Tiles Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About Exxaro Tiles Ltd
Exxaro Tiles commenced business as a partnership firm in 2007-08 as a manufacturer of frit, which is one of the raw materials used in manufacturing of tiles and have over the years, diversified, expanded and evolved into a manufacturer for vitrified tiles. The company markets its product under brand ‘Exxaro’. The company focuses on its research and development efforts on developing products which it believes are innovative and in line with the trends. Some of its key product development highlights include: 1) 3D Effect in Double Charge Vitrified Tiles 2) Replica of Natural Stones in Double Charge Vitrified Tiles 3) High transparent glaze in weight method for glazed vitrified tiles. The company also supplies wall tiles to certain of its dealers wherein it gets the products manufactured on outsourced basis. The company’s integrated model has allowed it to develop insights across the entire value chain right from product design, process development, manufacturing to marketing.
Business area of the company
The company is engaged in manufacturing and marketing of vitrified tiles used majorly for flooring solutions.
Product categories
The company’s business operations are broadly divided into two product categories:
- Double Charge Vitrified Tiles: Double charge vitrified tiles are tiles that are fed through a press which prints the pattern with a double layer of pigment, 3 to 4 mm thicker than other types of tiles. This process does not permit complex patterns but results in a long-wearing tile surface, suitable for heavy traffic commercial projects.
- Glazed Vitrified Tiles: Glazed vitrified tiles are flat slabs manufactured from ceramic materials such as clay, feldspar and quartz and other additives and fired at high temperatures to ensure high strength and low water absorption. These tiles are coated with glaze materials prior to the firing process.
Major events and milestone
- 2008: Incorporation of the Company pursuant to the conversion of a partnership firm, Ricasil Ceramic Industries, into a joint stock company under Part IX of the Companies Act, 1956.
- 2012: Commenced the setting up of a new project to manufacture double charged vitrified tiles at Mahuvad Turning, P.O. - Dabhasa, Taluka - Padra, Vadodara with a projected installed capacity of 3,600,000 square meter per annum.
- 2013: Commenced trial production in respect of the new project at Mahuvad Turning, P.O. - Dabhasa, Taluka – Padra, Vadodara within the estimated time lines and projected cost having projected installed capacity of 3,600,000 square meter per annum.
- 2015: Commenced the setting up of a new project at Mahelav, P.O. - Montesary, Vavdi - Harsol Road, Taluka - Talod, District - Sabarkantha with a projected installed capacity in respect of glazed vitrified tiles and double charged vitrified tiles of 9,600,000 square meter per annum.
- 2016: Successfully completed the setting up of the new project and commenced commercial production at Mahelav, P.O. - Montesary, Vavdi - Harsol Road, Taluka - Talod, District - Sabarkantha having installed capacity in respect of glazed vitrified tiles and double charged vitrified tiles of 9,600,000 square meter per annum within the estimated time lines and projected cost.
- 2016: Obtained approval of the brand name of ‘Exxaro Tiles for double charged vitrified tiles’ to be used for various health care structures vide letter dated April 27, 2016 issued by Chief Engineer, Commissionerate of Health, Project Implementation Unit, Gandhinagar.
- 2020: Conversion of Company from ‘Private Limited’ to ‘Public Limited’.
- 2021: Listed on BSE and NSE.
- 2021: Incorporated a new wholly owned subsidiary company in the name of ‘Exxaro Ceramic’.
- 2022: Expanded its existing manufacturing facility situated at Gujarat.
- 2022: Setup a manufacturing facility at its existing plant at Talod.
- 2024: Expanded its global presence with the grand inauguration of its Second Global showroom in Thimphu, Bhutan.
- 2025: Introduced new brand-ARESTA. Derived from the word ‘Edge’, ARESTA represents the sharpness, finesse, and innovation.
- 2026: Installed a 3.8 MW DC solar power project at Rozva, Galteshwar, Kheda, Gujarat.
- 2026: Incorporated a wholly owned subsidiary company namely ‘Aresta General Trading FZE’ on March 23, 2026 in Dubai, United Arab Emirates (UAE).
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