On a consolidated basis, Kajaria Ceramics' net profit surged 168.68% to Rs 131.17 crore on 46.08% jump in revenue from operations to Rs 952.51 crore in Q4 March 2021 over Q4 March 2020.
Profit before tax soared 152.46% to Rs 169.20 crore in Q4 FY21 as against Rs 67.02 crore in Q4 FY20.
During the financial year, Kajaria Ceramics' consolidated net profit climbed 21.83% to Rs 308.90 crore on 0.96% fall in revenue from operations to Rs 2,780.90 crore in FY 2021 over FY 2020.
The board has approved the expansion of manufacturing facility at Gailpur (Rajasthan) for ceramic floor tiles by increasing 4.20 million sq. metres (MSM) and raised the limits of investment in Kajaria Plywood (KPPL), its subsidiary, to Rs 50 crore from Rs 35 crore, in one or more tranches, through subscription/acquisition of equity shares of KPPL and/or granting of unsecured loan to KPPL.
Kajaria Ceramics plans to expand the manufacturing facility of Kajaria Tiles, a wholly-owned subsidiary company, by increasing 3.80 MSM of vitrified tiles per annum making total vitrified tiles capacity to 8.80 MSM per annum. The firm also planned the expansion of the manufacturing facility of Jaxx Vitrified, subsidiary company of Kajaria Ceramics, by increasing 4.40 MSM of vitrified tiles per annum making total vitrified tiles capacity to 12.00 MSM per annum.
The chairman of Kajaria Ceramics, said: "Economic resurgence resulted in a growing prospects and robust performance for India Inc. and Kajaria Ceramics was no exception to this promising trend. Our performance for the fourth quarter was the best in FY21. Gross sales and EBITDA picked up by 46% and 104% respectively over the corresponding quarter in the previous year. Net profit for the quarter stood at Rs 127.09 crore against Rs 49.59 crore in Q4 FY20. It also pulled up our financials for the full year. In FY21 revenue kept at par with FY20, with EBITDA and Net Profit increased by 22% and 21% respectively."
"Although India remains overwhelmed with the second wave of COVID-19, and our majority of plants operated at lower capacity in the month of May and June 2021, sales were also affected, I am optimistic that the combined efforts of policy makers, health care warriors and the resilient Indian, will help getting past the current gloom. Growth opportunities, in my opinion, will rebound aggressively as economic activity picks up over the medium term. To capitalize on emerging opportunities, we have planned to augment our manufacturing capabilities through the brownfield route."
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 fell 0.17% to Rs 1,020 on BSE. The scrip hovered in the range of Rs 1,009.95 to Rs 1,054.15 so far.
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