Add Kajaria Ceramics, target price Rs 1310 : HDFC Securities
Kajaria Ceramics with a target price of Rs 1310. The current market price of Kajaria Ceramics is Rs 1336.25.
Kajaria Ceramics, incorporated in the year 1985, is a Mid Cap company (having a market cap of Rs 21565.81 Crore) operating in Building Materials sector.
Kajaria Ceramics key Products/Revenue Segments include Tiles, Other Operating Revenue for the year ending 31-Mar-2022.
Financials For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 1073.49 Crore, down -11.66 % from last quarter Total Income of Rs 1215.24 Crore and up 5.63 % from last year same quarter Total Income of Rs 1016.31 Crore.
Company has reported net profit after tax of Rs 109.11 Crore in latest quarter.
Investment Rationale
HDFC Securities expects domestic demand to improve from H2FY24 onwards. It also expects the tile export momentum to sustain, which will further help the industry to pass on the cost inflation, leading to margin expansion YoY in FY24E.
