Kajaria Ceramics’ net profit increases by 13.84% in Q4 FY23, Real Estate News, ET RealEstate

June 24, 2023

NEW DELHI: Kajaria Ceramics has reported a growth of 13.84 per cent in its net consolidated profit during the quarter ended March 31, 2023. Its profit after tax stood at Rs 110.69 crore as against Rs 97.23 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.

The company’s net consolidated total income stood at Rs 1,215.24 crore in Q4 FY23, a growth of 9.60 per cent from Rs 1,108.78 crore it recorded in the similar quarter last year.

“..our company has achieved volume and revenue growth of 11% and 18% year-on-year, respectively. Our EBITDA margin for the quarter was 14% plus, which is sequentially high by 240 bps (QoQ). We attribute this improvement to a decline in gas prices and our consistent cost optimization initiatives,” said Ashok Kajaria, chairman of the company.

The board of directors recommended a final dividend of Rs 3 per equity share of face value of Re 1 each for the financial year ended March 31, 2023.

The board approved increase in the limits of investments in Kajaria Plywood (KPPL), a wholly-owned subsidiary company, from Rs 60 crore to Rs 70 crore, in one or more tranches, through subscription of equity shares of KPPL and/or granting of unsecured loan to KPPL. As on March 31, 2023, KPPL has a turnover of Rs 77.32 crore.

The board also approved investment upto Rs 3.67 crore in equity shares of Sunsure Solarpark Two for solar power captive consumption as required under the provisions of the Electricity Act.

As on March 31, 2023, the company’s net worth was Rs 2,385.80 crore and debt equity ratio was -0.10.

  • Published On May 16, 2023 at 04:00 PM IST

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