Consolidated profit before tax (PBT) gained 1.34% to Rs 160.18 crore in Q3 FY22 from Rs 158.05 crore in Q3 FY21. EBITDA grew 1.13% to Rs 183.84 crore in Q3 FY22 as compared to Rs 181.77 crore in Q3 FY21. EBITDA margin stood at 17.21% in Q3 FY22 as against 21.68% in Q3 FY21.
Kajaria Ceramics has made an investment in Kajaria Ultima (KUPL), a company incorporated under the Companies Act, 2013, upto Rs 210 crore in one or more tranches, through subscription/ acquisition of equity shares of KUPL and/or granting of unsecured loan(s) to KUPL, to make KUPL as a wholly-owned subsidiary of the company and to set up a state of art slab plant at Gujarat by KUPL.
The board has also made an additional acquisition upto 23,66,520 equity shares of Rs 10 each of Cosa Ceramics, a subsidiary company, at a consideration aggregating to Rs 20.83 crore subject to applicable laws.
As of December 2021, the net of cash and cash equivalents stood at Rs 338 crore as compared to Rs 349 crore in 31 March 2021.
The chairman of Kajaria Ceramics, said that Against all odds, our country has demonstrated commendable economic resilience despite stringent lockdowns and supply chain disruptions. In Q3 FY22 our sales volumes upped by 14% (Y-o-Y) while revenue increased by 27% (Y-o-Y). These numbers are a testament to a resilient India and confident Indians who continued to fuel the nation's economic resurgence.
In Q3 FY22 our EBITDA and net profit marginally increased by 1% and 3% respectively. However, EBITDA margin declined by 447 bps due to spurt in gas prices during the quarter. We believe that the underlying macro drivers for investments in India remain intact. This should enable the business to thrive and grow once the immediate challenges posed by the pandemic are over.
As of 31 December 2021, promoters held 47.51% stake, FIs/ FPIs/ Mutual Funds held 36.70% stake, NRIs held 0.45% stake and Public/ Others held 15.34% stake.
Kajaria Ceramics is the largest manufacturer of ceramic/vitrified tiles in India and the eighth largest in the world. It has present annual capacity of 70.40 million sq. meters (MSM) presently, distributed across eight plants - one at Sikandrabad in Uttar Pradesh, one at Gailpur and one at Malootana in Rajasthan, three at Morbi in Gujarat and one at Vijayawada and one at SriKalahasti in Andhra Pradesh.
Shares of Kajaria Ceramics dropped 6.31% to Rs 1,260.55 on BSE.
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