Kajaria Ceramics Limited (KAJARIACER) AI Stock Analysis

• Market Cap: ₹185.92B
• Dividend Yield: 1.16%
• Average Volume (3M): 9.45K
• Price to Earnings (P/E): 51.3
• Beta (1Y): 0.80
• Revenue Growth: -0.24%
• EPS Growth: -4.87%
• Country: IN
• Employees: 4,484
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Construction
• EPS (TTM): 8.40
• Shares Outstanding: 159,272,300
• 10 Day Avg. Volume: 18,999
• 30 Day Avg. Volume: 9,445
• PEG Ratio: -2.19
• Price to Book (P/B): 4.92
• Price to Sales (P/S): 2.92
• P/FCF Ratio: 41.59
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹1,450.00
• Price Target Upside: 37.70% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 69 Neutral
• Price Target: ₹1,277.00 ▲(21.27% Upside)

Kajaria Ceramics Limited's strong financial performance with robust profitability margins and solid cash management are the primary strengths. However, technical indicators suggest caution due to overbought conditions, and valuation points to potential overvaluation with a high P/E ratio. The overall score reflects these mixed factors, emphasizing financial health while noting technical and valuation risks.

Positive Factors

Profitability Margins

Strong profitability margins indicate efficient cost management and pricing power, supporting long-term financial health and competitive positioning.

Cash Flow Management

Effective cash flow management ensures liquidity and financial flexibility, enabling the company to invest in growth opportunities and weather economic fluctuations.

Equity Stability

A strong equity base and low leverage enhance financial stability, reducing risk and providing a solid foundation for sustainable growth and investment capacity.

Negative Factors

Revenue Growth Slowdown

Slowing revenue growth may indicate market saturation or increased competition, potentially impacting future earnings and necessitating strategic adjustments.

Free Cash Flow Volatility

Volatility in cash flow can affect the company's ability to consistently fund operations and growth initiatives, posing a risk to financial stability and strategic planning.

Return on Equity Fluctuations

Fluctuating ROE can signal inconsistent profitability from equity investments, potentially affecting investor confidence and long-term value creation.

Kajaria Ceramics Limited Business Overview & Revenue Model

Company Description

Kajaria Ceramics Limited (KAJARIACER) is one of India's leading manufacturers of ceramic and vitrified tiles, operating in the building materials sector. Established in 1988, the company specializes in a wide range of products, including wall tiles, floor tiles, and sanitary ware, catering to both residential and commercial markets. With a strong focus on innovation and quality, Kajaria has built a robust brand reputation and a diverse product portfolio that meets the evolving needs of customers in the construction and interior design industries.

How the Company Makes Money

Kajaria Ceramics generates revenue primarily through the sale of its ceramic and vitrified tiles, which are distributed through a wide network of dealers and retailers across India and international markets. The company's revenue model is driven by several key streams, including direct sales from manufacturing plants, exports, and strategic partnerships with distributors. Additionally, Kajaria capitalizes on its reputation for quality and design to command premium pricing on certain product lines. The company also invests in marketing and promotional activities to enhance brand visibility, which contributes to increased sales. Key factors contributing to its earnings include a growing demand for premium tiles in the real estate sector, rising urbanization, and the expansion of housing and infrastructure projects in India.

Kajaria Ceramics Limited Financial Statement Overview

Summary

Kajaria Ceramics Limited exhibits strong financial health with robust profitability margins and a solid equity foundation. While revenue growth shows signs of slowing, the company's effective cash flow management and low leverage provide a stable financial outlook, though caution is warranted regarding potential market challenges impacting revenue.

Income Statement

Kajaria Ceramics Limited demonstrated robust profitability with a Gross Profit Margin consistently above 37% over recent years and a respectable Net Profit Margin around 6-9%. The company maintained a healthy EBIT Margin of 10% in the latest year. However, a dip in revenue growth in 2025 compared to 2024 highlights potential market challenges.

Balance Sheet

The company maintains a strong Equity Ratio consistently above 70%, indicating financial stability and low leverage with a Debt-to-Equity Ratio under 0.1. However, the Return on Equity has shown slight fluctuations, reflecting a mixed impact on profitability generation from equity investments.

Cash Flow

Kajaria Ceramics displayed solid Free Cash Flow generation, with a noticeable growth from 2024 to 2025. The Operating Cash Flow to Net Income Ratio has been strong, underscoring effective cash generation. However, fluctuations in Free Cash Flow growth indicate potential volatility in cash management.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	46.68B	46.35B	44.74B	43.82B	37.05B	27.81B
Gross Profit	17.72B	26.23B	25.37B	25.39B	21.22B	15.10B
EBITDA	5.98B	6.02B	6.90B	5.78B	5.98B	5.02B
Net Income	3.14B	2.94B	4.22B	3.44B	3.77B	3.08B
Balance Sheet
Total Assets	0.00	37.56B	35.43B	33.31B	29.87B	25.27B
Cash, Cash Equivalents and Short-Term Investments	5.83B	4.41B	3.09B	1.64B	2.30B	3.92B
Total Debt	0.00	2.74B	2.39B	2.50B	1.65B	1.26B
Total Liabilities	-28.10B	9.46B	8.67B	9.26B	7.99B	5.93B
Stockholders Equity	28.10B	27.44B	26.17B	23.27B	21.22B	18.69B
Cash Flow
Free Cash Flow	0.00	3.25B	3.01B	638.50M	1.57B	3.96B
Operating Cash Flow	0.00	4.55B	5.97B	2.96B	4.26B	5.09B
Investing Cash Flow	0.00	-3.72B	-3.28B	-1.84B	-2.98B	-2.96B
Financing Cash Flow	0.00	-2.09B	-2.00B	-1.35B	-1.20B	-2.05B

Kajaria Ceramics Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1053.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:KAJARIACER, the sentiment is Negative. The current price of 1053 is below the 20-day moving average (MA) of 1072.52, below the 50-day MA of 1143.23, and below the 200-day MA of 1060.84, indicating a bearish trend. The MACD of -27.75 indicates Negative momentum. The RSI at 35.36 is Neutral, neither overbought nor oversold. The STOCH value of 48.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:KAJARIACER.

Kajaria Ceramics Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KAJARIACER	69 Neutral	₹185.92B	51.33	―	1.16%	-0.24%	-4.87%
INDIAGLYCO	65 Neutral	₹62.85B	25.78	―	0.47%	5.61%	33.63%
RAMCOCEM	62 Neutral	₹242.80B	75.75	―	0.19%	-2.61%	34.66%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
JKLAKSHMI	61 Neutral	₹105.73B	26.43	―	0.83%	6.13%	31.60%
JAIBALAJI	55 Neutral	₹84.72B	20.17	―	―	-13.11%	-69.18%
SAGCEM	48 Neutral	₹29.82B	-17.86	―	0.33%	3.34%	-112.79%

Kajaria Ceramics Limited Corporate Events

Kajaria Ceramics Opens Special Window for Physical Share Transfers

Kajaria Ceramics Limited has announced the opening of a special window for the re-lodgement of transfer requests for physical shares. This initiative is part of the company’s compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, and was communicated through newspaper advertisements in Financial Express and Jansatta on November 22, 2025.

Kajaria Ceramics Completes Dispatch of Postal Ballot Notice

Kajaria Ceramics Limited has announced the completion of the dispatch of the Notice of Postal Ballot dated October 16, 2025. This announcement was made through advertisements published in the Financial Express and Jansatta newspapers. The completion of this process signifies a step forward in the company’s administrative and shareholder communication efforts, potentially impacting its governance and stakeholder engagement strategies.

Kajaria Ceramics Releases Financial Results Conference Call Recording

Kajaria Ceramics Limited has released an audio recording of its conference call discussing the unaudited financial results for the quarter and half-year ending September 30, 2025. This release, in compliance with SEBI regulations, provides stakeholders with insights into the company’s financial performance and strategic direction.

Kajaria Ceramics Confirms Compliance with SEBI Regulations for Q3 2025

Kajaria Ceramics Limited has released a certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ending September 30, 2025. This certificate confirms that the securities received for dematerialization have been listed on the stock exchanges and that the necessary records have been updated, ensuring compliance with regulatory requirements.

Kajaria Ceramics Limited Concludes Successful 39th AGM

Kajaria Ceramics Limited held its 39th Annual General Meeting (AGM) on September 29, 2025, via video conferencing, where key resolutions were passed. The AGM approved the appointment of M/s Chandrasekaran Associates as the Secretarial Auditors for five years, and various resolutions, including the adoption of audited financial statements and the declaration of a final dividend, were passed with significant majorities.