The shares of the largest manufacturer of ceramic/ vitrified tiles gained up to 2 percent after the company acquired 18,90,000 equity shares of Rs. 10 each of South Asian Ceramic Tiles Private Limited worth Rs 510.30 Lacs.
With a market capitalization of Rs 21,016.52 crore, the shares of Kajaria Ceramics Ltd were trading at Rs 1,324.95 per share in Bse, increasing around 0.01 percent as compared to the previous closing price of Rs 1,350.80 apiece.
According to the company filing, Kajaria Ceramics Ltd announced the acquisition of 18,90,000 equity shares of Rs. 10 each of South Asian Ceramic Tiles Private Limited at a consideration aggregating to Rs 510.30 Lacs.
Furthermore, the business has raised the investment limits in Kajaria Plywood Private Limited (‘KPPL’), a wholly-owned subsidiary of the company, from Rs. 80 crores to Rs. 115 crores, in one or more tranches, by subscription of equity shares in KPPL.
Looking into the company’s financial, Kajaria Ceramics Ltd’s revenue increased by 4 percent from Rs 1,078 Crore in Q2FY23 to 1,122 Crore in Q2FY24. During the same period, net profits increased by 60 percent from Rs 69 crore to Rs 111 crore.
Kajaria Ceramics Ltd reported return ratios in the recent financial year with a return on equity (ROE) of 15.8 percent and a return on capital employed (ROCE) of 19.7 percent.
Kajaria Ceramics Ltd’s recent shareholding pattern, The Promoters of the Company own 47.49 percent while Retail shareholders own an 8.59 percent stake in the company and Foreign Institutional Investors own a 18.48 percent stake.
In the previous 35 years, Kajaria Ceramics has doubled its capacity from 1 million square meters to 86.47 million square meters, and it now provides over 3000 alternatives in ceramic wall and floor tiles, vitrified tiles, designer tiles, and much more. These tiles are available in a variety of colors and patterns to match bathrooms, living rooms, hallways, study areas, and kitchens.
In India, Kajaria Ceramics Ltd principally manufactures and trades ceramic and vitrified tiles. It is India’s largest ceramic/vitrified tile maker and the world’s eighth largest.
Written by:- Abhishek Singh
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