Kajaria Ceramics Limited
NSE Symbol KAJARIACER
KAJARIA
CERAMICS has performed well in Q3 FY 12
ending Dec,2011.
STAND
ALONE RESULTS
Net
Sales has gone up to Rs.347.98 cr in
current qtr of q3 fy 12; compared to Rs.316.39 cr in the previous Qtr of Q2 FY
12;(Up by 9.98%); and Rs.253.66 cr (Up by 37.18%) in the corresponding Qtr of
Q3 FY 11 ending Dec,2010.
Raw
Materials consumption was at Rs.121.48 cr in current Qtr –
compared to Rs.125.85 cr(down by -3.47%)
in previous qtr ; and Rs.65.58 cr (Up by 85.24%) in corresponding Qtr.
Traded
Goods cost stands at Rs.125.23 cr in current Qtr –
compared to
Rs.102.71 cr (up by 21.93%) in previous qtr – and Rs.101.88 cr (Up
by 22.92%) in corresponding Qtr.
Total
Expenditure stands at Rs.303.62 cr in current
Qtr - compared to Rs.278.78 cr in
previous qtr (Up by 8.91%) in previous qtr; and Rs.221.39 cr (Up by 37.14%) in
corresponding Qtr.
Profit
from Operations stands at Rs.44.76 Cr in current Qtr –
compared to Rs.37.98 cr (Up by 17.85%) in previous qtr; and Rs.32.46 cr (Up by 37.89%)
in corresponding Qtr.
Interest Expense
is higher in current
Qtr at Rs.15.08 cr – compared to Rs.10.60 cr (Up by 42.26%) in previous qtr;
and Rs.7.32 cr (Up by 106.01%) in corresponding Qtr.
Profit
before tax therefore stands at Rs.29.68 cr in
current Qtr – compared to Rs.27.38 cr (Up by 8.4%) in previous qtr ; and Rs.25.14 cr (Up by 18.06%) in
corresponding Qtr.
Tax
expense stands at Rs.8.90 cr in current Qtr –
compared to Rs.8.48 cr (Up by 4.95%) in previous qtr; and Rs.7.55 cr (up by 17.88%)
in corresponding qtr.
Net
Profit in
current qtr stands at Rs.20.78 Cr – compared to Rs. 18.90 cr (Up by 9.95%) in previous qtr; and Rs.17.59 cr (Up by 18.14%)
in corresponding qtr.
On a Face value of
Rs.2 - Basic EPS stands
at Rs.2.82 in Q3 FY 12; Rs.2.57 in Q2 FY 12; Rs.2.29 in Q1 FY 12 and Rs.2.39 in
Q3 FY 11. On this basis, the annual
EPS for
FY 12 comes to around Rs.10.5.
Current Market Price is
Rs.108.50; while the 52
week high price is Rs.122 and the 52 week low price is Rs.60.30.
On
this basis, the PE Ratio
works out to 10.33.
Commenting
on the performance for Q3 FY2012, Mr. Ashok Kajaria, Chairman & Managing
Director, Kajaria Ceramics Limited said:
“
Our consumer focused approach has enabled us to post a healthy operational and
financial performance in the current quarter despite a challenging macro
environment. With 40% topline growth in first 9 months of FY 2012, we are well
on our way to achieve our targeted 30% topline growth during the year.
We
are particularly pleased with the successful integration of Soriso Ceramics,
which we acquired last year in Gujarat. We are open to more such inorganic
growth opportunities to add to our existing capacities, market share and to
have pan India manufacturing base to be closer to our consumers. We are already
the largest manufacturer of ceramic/vitrified tiles with an aggregate capacity
of 30.60 million sq mtrs. and hope to gain market share in years to come.
Overall,
we remain optimistic of medium to long term outlook for company and believe
that future can only be better once macro headwinds recede. “
COMPANY SAYS :
Net sales up 37% YoY to Rs 347.98 crore in Q3
FY12 and up 39% YoY to Rs 934.13 crore in 9M FY12 driven by strong domestic
demand and improved product mix. Volumes were up 32% during Q3 FY12 and 34%
during 9M FY12 YoY.
EBITDA up 38% YoY to Rs 54.77 crore in Q3 FY12.
EBITDA margin improved 10 bps YoY and 95 bps sequentially due to better product
mix and price hikes taken during quarter.
PAT increased 18% YoY in Q3 FY12. It includes Rs
4.96 Crore of forex loss vs. 1.05 crore gain in Q3FY11. PAT grew by 34% during
9M FY12 YoY.
Consolidated net sales is at Rs 350.32crore for
Q3FY12 and Rs 938.91crore for 9MFY12. Consolidated net profit stood at Rs 21.06
crore for Q3FY12 and Rs 57.39 crore for 9MFY12.
EBITDA margin increased by 10bps YoY and 95bps
sequentially due to increase in volume, improved product mix and price increase
taken during Q3 FY12 due to cost pressures.
* All figures are on
standalone basis and are in Rs crores , unless mentioned
Kajaria Ceramics is the largest manufacturers of
ceramic/vitrified tiles in India. It has an annual capacity of 30.60 mn. sq.
meters, distributed across three plants-Sikandrabad in Uttar Pradesh, Gailpur
in Rajasthan and Morbi in Gujarat.
Kajaria is the only Indian ceramic tile company
awarded ‘Superbrand’ status for fifth consecutive time.
RESULTS
TABLE
|
kajaria
ceramics
|
31-Dec-11
|
30-Sep-11
|
%DIF1
|
30-Jun-11
|
31-Dec-10
|
%DIF2
|
|
Net Sales
|
34798
|
31639
|
9.98
|
26976
|
25366
|
37.18
|
|
Other Operating Income
|
40
|
37
|
8.11
|
41
|
19
|
110.53
|
|
Increase in SIT/WIP
|
-1134
|
-1595
|
-28.9
|
-1614
|
324
|
-450
|
|
Raw Materials
|
12148
|
12585
|
-3.47
|
11234
|
6558
|
85.24
|
|
Traded Goods
|
12523
|
10271
|
21.93
|
7702
|
10188
|
22.92
|
|
Employees Cost
|
2568
|
2807
|
-8.51
|
2493
|
2150
|
19.44
|
|
Depreciation
|
1001
|
882
|
13.49
|
873
|
724
|
38.26
|
|
Other Expenditure
|
3256
|
2928
|
11.2
|
3007
|
2195
|
48.34
|
|
Total Expenditure
|
30362
|
27878
|
8.91
|
23695
|
22139
|
37.14
|
|
Profit from Operations
|
4476
|
3798
|
17.85
|
3322
|
3246
|
37.89
|
|
Interest
|
1508
|
1060
|
42.26
|
883
|
732
|
106.01
|
|
Profit before tax
|
2968
|
2738
|
8.4
|
2439
|
2514
|
18.06
|
|
Tax expense
|
890
|
848
|
4.95
|
756
|
755
|
17.88
|
|
Net Profit
|
2078
|
1890
|
9.95
|
1683
|
1759
|
18.14
|
|
Face Value (In Rs
|
2
|
2
|
0
|
2
|
2
|
0
|
|
Paid Up Equity
|
1472
|
1472
|
0
|
1472
|
1472
|
0
|
|
Basic EPS
|
2.82
|
2.57
|
9.73
|
2.29
|
2.39
|
17.99
|
|
Public holding (%)
|
46.49
|
47.99
|
-3.13
|
48.67
|
48.67
|
-4.48
|
* *
* **E N D *
* *
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