Tide may be turning for Indian tile makers on improved demand outlook

Market share gains from unorganised players, better demand visibility, and improving operational performance are the key long-term triggers for Indian tile makers, which are at 52-week highs on the bourses.

The Indian tile industry is estimated to be worth nearly Rs 39,000 crore per year. Of this, 35 per cent or approximately Rs 13,500 crore comprises exports, which are largely catered by Morbi-based players (roughly Rs 10,000 crore in FY20).

China, which is the world’s largest ceramic tiles exporter, has seen its share in global exports decline from 40 per cent in 2015 to 31 per cent in 2018, as several countries,