After a weak FY23, tilemakers gain from higher demand, lower gas prices

Analysts see investors to be out on the tiles

Stocks of the country’s bigger tile and ceramic makers were major gainers over the past week. The leaders in this space -- Kajaria Ceramics and Cera Sanitaryware -- were up 7 per cent each.

In the past three months, Kajaria Ceramics and Somany Ceramics were up 29-32 per cent, while Cera Sanitaryware gained 22 per cent. The segment has been the best performer in the building materials space.

After a muted FY23, tilemakers are expected to benefit from the improvement in domestic volumes, lower pricing pressure and margin recovery. The same is expected to reflect in the June quarter results,