The shares of this leading ceramic tile manufacturer gained 9% to an intraday high of ₹121.80 per share on Wednesday after the company board planned to consider a stock split.
At 1:25 p.m., Exxaro Tiles Ltd shares were trading at ₹116.80 per share, up 4.89% on the National Stock Exchange from the previous close price. The company has a market capitalization of ₹525 crore.
On 12th March 2024, the company board of directors to consider the sub-division/ split of equity shares of the Company. The company reported in its exchange filing.
Exxaro Tiles Ltd. (ETL) is engaged in the manufacturing of double-charge vitrified tiles and glazed vitrified tiles used for flooring solutions. Its product basket consists of 1000+ designs and it is sold under its own brand “Exxaro”. The company has a PAN India presence with 2000+ registered dealers across 24 states/union territories.
On a year-over-year basis, the company’s revenue from operations witnessed a 19 percent decline, dropping from ₹81.05 crore in FY22 to ₹65.26 crore in FY23. During the same period, the net profit also saw a significant decrease, plummeting by 82 percent from ₹3.72 crores to ₹0.68 crores.
In the first half of FY24, the company initiated the manufacturing facility expansion at its existing plant in Talod, boasting a capacity of 1.4 million square meters per annum. The capital expenditure for establishing the big slab production line was financed through internal accruals. This facility holds a revenue potential of ₹250 crores at full capacity.
The company engages in product exports to 10 countries globally and operates two manufacturing facilities situated in Padra and Talod.
For FY23, the company disclosed a net profit margin of 2.30%, an operating profit margin of 6.44%, and a return on equity of 2.66%
Written by Omkar Chitnis
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