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Kajaria Ceramics Ltd (KAJARIACER)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 500233 NSE: KAJARIACER Ceramics/Marble/Granite/Sanitaryware | Small Cap | Kajaria Ceramics Share Price

₹1,206.70 13.45 (1.13%)

As on 24-Jun'26 16:59

Kajaria Ceramics Ltd (KAJARIACER)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 500233 NSE: KAJARIACER Ceramics/Marble/Granite/Sanitaryware | Small Cap | Kajaria Ceramics Share Price

₹1,206.70 13.45 (1.13%)

As on 24-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹19,005 Cr.
Current Price
₹1,206.7
52-Week Low / High
₹870 / 1,322
TTM EPS
₹30.5
TTM Sales
₹4,830 Cr.
Book Value per Share
₹192.5
P/E Ratio
39.15
Lower than its 5-year historical median
Industry PE
47.2
Price to Book (P/B)
6.20
Lower than its 5-year historical median
Price to Sales (P/S)
3.93
Lower than its 5-year historical median
EV/EBITDA
20.03
Lower than its 5-year historical median
Dividend Yield
0.75%
Profitability Efficiency
Return on Equity (ROE)
13.08%
Outperforms industry median
Return on Capital Employed (ROCE)
17.67%
Outperforms industry median
Return on Assets (ROA)
9.55%
Operating Profit Margin
13.7%
Net Profit Margin
7.51%
Gross Profit Margin
13.4%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
1.24%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-11.41%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-21.46%
Asset Quality
Promoter Holding
47.69%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹3,050 Cr.
Equity
₹15.9 Cr.
Face Value
₹1
All Time Low / High
₹1.41 / 1578.25

Kajaria Ceramics stock performance

Key Ratios
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Check Before You Invest

Valuation

Fair

Price Trend

Strong
Q.1 Is Kajaria Ceramics Ltd a good quality company?
Kajaria Ceramics Ltd is a good quality company, based on a consistently good 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 Kajaria Ceramics Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Kajaria Ceramics Ltd vs industry peers?
Kajaria Ceramics Ltd revenue CAGR is 10.54%, compared to the industry median CAGR of 0.00%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Kajaria Ceramics Ltd?
Promoters hold 47.69% of the Kajaria Ceramics Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Kajaria Ceramics Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 7.1% based on the current price.

DeciZen - make an informed investing decision on Kajaria Ceramics

Decision Maker
Consolidated basis

1. Right Stock

10 Year X-ray Pro
Long Term Prospect

2. Right Price

3. Right Time

#Likely Future 5 Year CAGR.

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 end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

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.
Kajaria Ceramics Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 35.1%32.4%26.1%23.2%18.8%22.2%24.8%20.3%22.7%17.7%-
Value Creation
Index
1.61.40.90.70.40.70.80.51.00.3-

Growth Parameters

Sales 2,4132,5502,7112,9562,8082,7813,7054,3824,5784,6354,830
Sales YoY Gr.-5.6%6.3%9.1%-5%-1%33.2%18.3%4.5%1.2%-
Adj EPS 14.815.914.814.716.119.723.721.926.121.930.5
YoY Gr.-8.1%-7.2%-0.7%9.5%22.2%20.7%-7.6%19.2%-16.2%-
BVPS (₹) 60.973.884.798.7107.5117.2133.2145.6163.3171192.5
Adj Net
Profit
235253235233256313378349416348486
Cash Flow from Ops. 316338238317224509426296602501-
Debt/CF from Ops. 0.90.60.70.40.60.20.30.70.30.4-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 7.5%10.5%7.8%1.2%
Adj EPS 4.5%6.4%-2.6%-16.2%
BVPS12.1%9.7%8.7%4.7%
Share Price 7.3% 4.2% -1.5% 9%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
27.423.618.61615.517.518.915.716.81316.8
Op. Profit
Mgn %
19.219.616.915.414.918.516.513.515.313.717.9
Net Profit
Mgn %
9.9108.48911.310.389.37.610.1
Debt to
Equity
0.30.20.10.10.10.10.10.10.10.10
Working Cap
Days
10510711111411911695991009967
Cash Conv.
Cycle
3037647378745557606042

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales2,4132,5502,7112,9562,8082,7813,7054,3824,4744,635
Operating Expenses + 1,9562,0532,2542,5072,3922,2723,0953,7903,7674,009
Manufacturing Costs7046857868938086261,0481,3991,2041,287
Material Costs7548058851,0089901,1451,3991,6261,7431,793
Employee Cost 252289318345357325408461492566
Other Costs 246275266261237177239304329363
Operating Profit 457496456449416509611592707626
Operating Profit Margin (%) 19.0%19.5%16.8%15.2%14.8%18.3%16.5%13.5%15.8%13.5%
Other Income + 10151118242128344643
Exceptional Items 001-5000-800
Interest 34342416201113221720
Depreciation 73818989108107115133148165
Profit Before Tax 361396355358312413510462587484
Tax 12514212712959104127116143136
Profit After Tax 236254229229254309383346444348
PAT Margin (%) 9.8%10.0%8.4%7.7%9.0%11.1%10.3%7.9%9.9%7.5%
Adjusted EPS (₹)14.515.914.814.316.119.423.721.626.518.5
Dividend Payout Ratio (%)17.20%18.90%20.30%21.10%18.70%51.70%46.50%41.60%45.30%48.70%

Valuation of Kajaria Ceramics - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 9681,1721,3461,5701,7091,8652,1212,3182,6012,723
Share Capital 16161616161616161616
Reserves 9521,1571,3301,5541,6931,8492,1052,3022,5852,707
Debt +2531711359511797126203161154
Long Term Debt1421165931223124526371
Short Term Debt11055766396661021529883
Minority Interest76766666646565785966
Trade Payables293268258309239207298310293338
Others Liabilities 429353335332308291377419424474
Total Liabilities 2,0192,0402,1402,3722,4372,5252,9863,3283,5393,755

Fixed Assets

Net Fixed Assets +1,1211,1771,1451,0781,1951,1921,1501,4471,6381,717
Gross Block1,5411,6621,6951,6761,8781,9491,9762,2872,5632,667
Accumulated Depreciation421485550598683756827840925949
CWIP 88189327152638268109
Investments 0000105021834
Inventories384372378406513373466565532618
Trade Receivables274339451475397432513601619570
Cash Equivalents 225282252225443424394514583
Others Assets 2119266677166169238149124
Total Assets 2,0192,0402,1402,3722,4372,5252,9863,3283,5393,755

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 316338238317224509426296597501
PBT 361396355358312413510462576436
Adjustment 112119111104111107106147134183
Changes in Working Capital -53-48-101-12-9987-62-18726-1
Tax Paid -103-129-128-133-100-98-129-126-138-117
Cash Flow From Investing Activity + -267-140-137-261-90-296-298-184-297-372
Capex -269-142-138-114-121-101-263-208-278-196
Net Investments 0-0-1-22812-202-463214-179
Others 2328119811-7-333
Cash Flow From Financing Activity + -39-168-72-114-140-205-120-135-212-209
Net Proceeds from Shares 12010055111
Net Proceeds from Borrowing 46-27-23-38-25-0-8-3118
Interest Paid -34-34-24-16-15-7-9-21-17-20
Dividend Paid -38-49-47-57-115-159-127-143-143-175
Others -23-5821-314-441931-65-23
Net Cash Flow 103030-58-697-2388-80

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)27.6323.7118.1515.6915.4717.2919.2115.618.0313.08
ROCE (%)35.1432.4326.0823.2318.7722.2324.7920.2622.717.67
Asset Turnover Ratio1.481.411.331.311.231.171.41.451.361.33
PAT to CFO Conversion(x)1.341.331.041.380.881.651.110.861.341.44
Working Capital Days
Receivable Days32.5039.2051.8057.205452.1044.6044.5047.6044.80
Inventory Days46.4048.4049.2048.4056.9055.7039.6041.2042.8043.40
Payable Days129.50127.1096.7082.3083.4071.2065.9068.3063.2064.30

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Kajaria Ceramics Ltd FAQs

The current trading price of Kajaria Ceramics on 24-Jun-2026 16:59 is ₹1,206.7.

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 23-Jun-2026 the market cap of Kajaria Ceramics stood at ₹19,005.2 Cr

The latest P/E ratio of Kajaria Ceramics as of 23-Jun-2026 is 41.61.

The latest P/B ratio of Kajaria Ceramics as of 23-Jun-2026 is 6.56.

The 52-week high of Kajaria Ceramics is ₹1,322 and the 52-week low is ₹870.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Kajaria Ceramics is ₹4,374 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Kajaria Ceramics Ltd is a good quality company.

The key valuation ratios of Kajaria Ceramics Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Kajaria Ceramics Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Kajaria Ceramics Ltd

Kajaria Ceramics Limited is the largest manufacturer of ceramic and vitrified tiles in India. Equipped with cutting-edge technology, the company strive to deliver quality products and services to its customers. Its team of experts work around the clock to ensure that the quality of its product is never compromised.
 
In order to cater to the specific needs of its customers, the company produces various categories of tiles, including kitchen tiles, bathroom tiles, wall tiles, floor tiles and exterior wall tiles. It aims at producing tiles that complement the distinctive style of its customers and cater to the vast needs of Indian audience. All of its tiles are crafted with intense care using state-of-the-art technology to ensure that it live up to the expectations of its buyers. Choicest of materials are used to produce the company’s magnificent range of products. 

The company’s mesmerizing range of designer bathroom & kitchen floor and wall tiles have a luxurious appeal and seem to have been struck with afflatus. The premier collection is a showstopper and has the ability to make any dimension look grand. Every single piece of tile from the company’s range of designer bathroom & kitchen floor and wall tiles has a compelling aura. The matt finish tiles for kitchen from company’s collection fit perfectly with modern day designs while its rustic kitchen wall tiles blend easily with every surrounding.

Business area of the company

The company is the leader in the Indian tile industry. It has a manufacturing presence across regions. The company’s presence straddles across the entire tile value chain - ceramic wall and floor tiles, polished and glazed vitrified tiles -- providing customers with the widest choice in tiles across all price points.

Products:

  • Bathroom Tiles
  • Kitchen Tiles
  • Wall Tiles
  • Floor Tiles
  • Vitrified Tiles
  • Ceramic Tiles
  • Polished Vitrified Tiles
  • Eternity - Glazed Vitrified Tiles

Certifications

  • ISO - 9001:2008: For implementing a Quality Management System for the Manufacture and Supply of Ceramic Tiles.
  • OHSAS-18001: For implementing an Occupational Health & Safely Management System for the Manufacturing of Ceramic Tiles.
  • SA-8000: For implementing of Social Accountability Standards for the Manufacturing of Ceramic Tiles.
  • ISO-14001: For implementing an Environmental Management system for the Manufacturing of Ceramic Tiles.
  • ISO-22000:2005: For implementing a Food Safety Management System for the Manufacturing of Ceramic Tiles.
  • ISO-50001:2011: For Establishing, Implementing, Maintaining and Improving an Energy Management System for a systematic approach in achieving continual improvement of energy performance.
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