KAJARIA CERAMIC LIMITED
RESULTS FOR Q3 FY 2013-14
Q.E. DECEMBER 2013
Kajaria Ceramics has performed reasonably
well the third quarter ending December
2013.
Net sales for Q3 stand at Rs.439.97 Cr, down by
-7.98% compared to Q2 FY 14 (Rs.478.1 Cr) and up by 5.44% compared to Q3 FY 13
(Rs.417.26 Cr).
Materials consumed for Q3 stand at Rs.98.75 Cr, down by -9.17% compared to Q2 FY 14 (Rs.108.72 Cr) and up by -45.98% compared to Q3 FY 13 (Rs.182.79 Cr).
Purchases of stock-in-trade for Q3 stand at Rs.88.26 Cr, down by -24.19% compared to Q2 FY 14 (Rs. 116.42 Cr) and up by 2.05% compared to Q3 FY 13 (Rs. 86.49
Cr).
Employee benefits for Q3 stand at Rs.42.72 Cr,
down by -0.07% compared to Q2 FY 14 (Rs.42.75 Cr) and up by 17.62% compared to Q3 FY 13 (Rs.36.32 Cr).
Other expenses for Q3 stand at Rs.131.28 Cr, down by -10.43% compared to Q2 FY 14 (Rs. 146.56 Cr) and up by 212.79% compared to Q3 FY 13 (Rs.41.97 Cr).
Total expenses for Q3 stand at Rs.385.78 Cr, down by -9.12% compared to Q2 FY 14 (Rs.424.5 Cr) and up by 4.73% compared to Q3 FY 13 (Rs.368.35 Cr).
Profit from operations for Q3 stand at Rs.54.65 up
by 1.49% compared to Q2 FY 14 (Rs. 53.85
Cr) and up by 10.72% compared to Q3 FY 13
(Rs.49.36 Cr).
Finance costs for Q3 stand at Rs.10.98 Cr, down by -3.68%
compared to Q2 FY 14 (Rs. 11.4 Cr)
and up by -7.03% compared to Q3 FY 13
(Rs.11.81 Cr).
Profit before tax for Q3 stand at Rs.45.25 Cr,
down by 1.89% compared to Q2 FY 14 (Rs. 44.41
Cr) and up by 19.55% compared to Q3 FY 13
(Rs.37.85 Cr).
Tax expense for
Q3 stand at Rs.15.22 Cr, down by -0.2%
compared to Q2 FY 14 (Rs.15.25 Cr) and up by 26.41%
compared to Q3 FY 13 (Rs.12.04 Cr).
Net Profit for
Q3 stand at Rs.30.03 Cr, down by 2.98%
compared to Q2 FY 14 (Rs.29.16 Cr) and up by 16.35%
compared to Q3 FY 13 (Rs.25.81 Cr).
Net Profit after minority interest for Q3 stand at Rs.29.39 Cr, down by 9.18% compared to Q2 FY 14
(Rs.26.92 Cr) and up by 17.8 % compared to Q3 FY 13 (Rs.24.95 Cr).
Face Value of equity stands at Rs.2.
Paid-up equity for Q3 stand at Rs.15.12 compared to Rs.14.72 Cr in Q3 FY 13.
Basic EPS for Q3 stand at Rs.3.93 compared to Rs.3.66 in Q2 FY 14; and Rs.3.39
in Q3 FY 13. The share price is at Rs.306. The company’s performance is
expected to improve continuously in future quarters.
RESULTS TABLE
|
Kajaria Ceramics
|
Q3FY 14
|
%Dif QoQ
|
Q2FY14
|
%Dif YoY
|
Q3 FY13
|
|
Net sales
|
439.97
|
-7.98
|
478.1
|
5.44
|
417.26
|
|
Other operating income
|
0.46
|
84
|
0.25
|
2.22
|
0.45
|
|
Total income
|
440.43
|
-7.93
|
478.35
|
5.44
|
417.71
|
|
Materials consumed
|
98.75
|
-9.17
|
108.72
|
-45.98
|
182.79
|
|
Purchases of stock-in-trade
|
88.26
|
-24.19
|
116.42
|
2.05
|
86.49
|
|
Employee benefits
|
42.72
|
-0.07
|
42.75
|
17.62
|
36.32
|
|
Depreciation
|
11.85
|
0.94
|
11.74
|
4.68
|
11.32
|
|
Other expenses
|
131.28
|
-10.43
|
146.56
|
212.79
|
41.97
|
|
Total expenses
|
385.78
|
-9.12
|
424.5
|
4.73
|
368.35
|
|
Profit from operations
|
54.65
|
1.49
|
53.85
|
10.72
|
49.36
|
|
Other income
|
1.58
|
-19.39
|
1.96
|
426.67
|
0.3
|
|
Profit before finance costs
|
56.23
|
0.75
|
55.81
|
13.23
|
49.66
|
|
Finance costs
|
10.98
|
-3.68
|
11.4
|
-7.03
|
11.81
|
|
Profit before tax
|
45.25
|
1.89
|
44.41
|
19.55
|
37.85
|
|
Tax expense
|
15.22
|
-0.2
|
15.25
|
26.41
|
12.04
|
|
Net Profit
|
30.03
|
2.98
|
29.16
|
16.35
|
25.81
|
|
Minority interest
|
0.64
|
-71.43
|
2.24
|
-25.58
|
0.86
|
|
Net Profit after minority interest
|
29.39
|
9.18
|
26.92
|
17.8
|
24.95
|
|
Face Value (in Rs.)
|
2
|
0
|
2
|
0
|
2
|
|
Paid-up equity
|
15.12
|
2.72
|
14.72
|
2.72
|
14.72
|
|
Basic EPS
|
3.93
|
7.38
|
3.66
|
15.93
|
3.39
|
Here
are some excerpts of what the CMD of the company says :
· The
industry is definitely in a positive mood and with the Gujarat plants
reopening, a lot of corrections will be made. So, I think going forward we see
an improvement in margins.
· Our
revenue growth has been less, because all the plants in Gujarat were shut down
for one month. ...This impacted revenues by Roughly about Rs 20-25 crore.
· right
now margins appear at 15.1 percent. ....It should go up by about 50 points to 1
percent at the maximum. That is upto 16 percent.
· As
more expansions come in, the revenues will go up of course. ... We are looking
at 18-20 percent over the period of next financial year.
· we
have already raised funds to the extent of Rs 150 crore of which Rs 50 crore
have already come. The balance will come in due process of time. So, I think
this is good enough till March 16 is concerned.
· This
year we will be selling almost 50 million square meters of tiles. Next year, we
are looking at selling almost about 60 million square meters of tiles, anywhere
between 58-60 million square meters of tiles and revenue growth should be of
the order of 18-20 percent.
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