Ceramic Tiles

GOP lawmaker seeks to impose robust tariffs on Indian ceramic tile imports

Ahead of his party coming to power, a GOP lawmaker has demanded a robust tariffs on Indian ceramic tile imports claiming that the tile manufacturing industry in his state has been negatively impacted by the unfair and uncompetitive trade practices of Indian exporters, threatening good-paying manufacturing jobs in Tennessee. Tennessee jobs are at risk due to India's unfair and uncompetitive trade practices in the ceramic tile market, Congressman John Rose said after sending a letter in this regard to the outgoing Commerce Secretary Gina Raimondo. Tennessee's manufacturers deserve a fair shake on the world stage, he said, adding that India's underhanded subsidisation and dumping of ceramic tile is upending the domestic market and hemming in American manufacturers. The Department of Commerce should use the tools at its disposal to aggressively counteract these nefarious trade practices to protect Tennessee jobs and domestic manufacturing, he said. In May, the department announced ...

Carborundum Universal results: Consolidated Q1 net profit at Rs 114.84 cr

Abrasives manufacturer Carborundum Universal Ltd (CUMI) has reported a consolidated net profit for April-June 30, 2024 at Rs 114.84 crore, the company said on Tuesday. The city-based company, part of the diversified conglomerate Murugappa Group, had registered a net profit of Rs 117.76 crore during the corresponding quarter of last year. For the year ending March 31, 2024, the consolidated net profit was at Rs 476.18 crore. The consolidated total income during the June-quarter fell to Rs 1,204.56 crore, from Rs 1,234.13 crore registered during the corresponding quarter of last year. For the year ending March 31, 2024, the consolidated total income was at Rs 4,778.84 crore. The company said the consolidated abrasives grew at 6.3 per cent during the April-June 2024 quarter, while the ceramics and electro-minerals segment fell by 6 per cent and 9 per cent respectively. "Profit after tax and non-controlling interest for the quarter was almost flat at Rs 113 crore against Q1 of last y

US traders seek import tariff on Indian tile suppliers, blame subsidies

A coalition of US ceramic tile suppliers has urged the federal government to impose tariffs on ceramic tile imports from India as it is impacting domestic industry due to subsidised imports by the Indian government. The Department of Commerce has instituted an investigation into this matter. Import of ceramics and tiles from India has increased significantly over the past few years, an association of the US ceramic and tiles industry has claimed alleging that these are impacting their domestic industry as the imports are subsidised by the Indian government. In a petition filed before the US International Trade Commission of the Department of Commerce, the Coalition for Fair Trade in Ceramic Tile (TCNA), which claims to represent more than 90 per cent of US tile production, seeks the imposition of tariffs estimated between 408 per cent to 828 per cent, alleging that there is ongoing massive and widespread dumping from India. American tile manufacturers have always welcomed fair ...

Tiles cementing market in India's famous marble heartland Kishangarh

Amid growing demand for tiles from Gujarat's Morbi district, marble industry faces a bleak future

Near-term demand remains a concern for listed tile maker Kajaria Ceramics

Even as the March quarter and FY24 volumes are likely to be on the lower side, management and brokerage commentary suggest that recovery could be strong in FY25

Goods & services exports marginally up at $765.6 bn in 2023: Govt

The country's exports of goods and services rose marginally by 0.4 per cent to USD 765.6 billion in 2023 despite global economic uncertainties, according to the commerce ministry data. Sectors which helped keep India's exports afloat include electronics, pharmaceuticals, cotton yarn, fabrics and made-ups; ceramic products, meat, dairy and poultry products, fruits and vegetables and information technology. Goods exports in the last calendar year, however, contracted by 4.71 per cent to USD 431.9 billion while services exports are estimated to have risen by 7.88 per cent to USD 333.8 billion, the data showed. The merchandise imports also dipped by 7 per cent to USD 667.73 billion last year as against USD 720.2 billion in 2022. The latest data for the services sector released by the RBI is for November 2023. The data for December 2023 is an estimation by the ministry. The main export destinations for India are the US, the UAE, the Netherlands, Bangladesh, the UK and Germany. Goods .

Weak demand puts a crack on India's leading listed tile makers' prospects

While strong exports are expected to help stabilise domestic market prices, the surge in gas prices over the past couple of months may have impacted margins in the second half of FY24

Sluggish domestic demand, rising costs to hit prospects of tile firms

Sector reported record exports in July, expected to support setback in India market

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

Analysts see investors to be out on the tiles

Weak demand, excess supply get tile makers walking on eggshells

Although lower gas prices could offer some relief on margins

Street signs: Trend weak on FPIs, Electronics Mart India IPO, and more

Analysts are upbeat on shares of ceramic tile manufacturers, even as their July-September quarter performance is likely to be weak

MGL, Gujarat Gas: Analysts see some silver lining for downstream gas stocks

Analysts have lowered their earnings estimates, but have 'buy' recommendations for several stocks

Building material players take a demand, margin hit in June quarter

Slowdown in construction activity, high inventory levels and cost spike key negatives

Gujarat's ceramic tiles hub to take month-long break after production glut

'Leave' in August could be annual feature and will follow Chinese industry taking a break every February

Orient Bell zooms 18% on upward revision in credit ratings by Crisil

The company said the growth in the tiles market will continue to be driven by growth in real estate and housing sector, rise in disposable income, growth in renovation & remodelling activities.

Largest ceramic manufacturing cluster bears brunt of gas price hike

The industry is facing natural gas supply and price hike issues

Kajaria Ceramics launches its largest store to cater to NCR region

Tiles maker Kajaria Ceramics on Wednesday announced the launch of its largest store in the country to sell tiles and bathware products. The 100th Kajaria Eternity World showroom, which has come up in an 11,000 square feet area in Lajpat Nagar, offers tiles and Kerovit bathware products under one roof. "Delhi is one of our most important marketplaces. This centrally positioned store will not only serve the residents of Delhi but also the people of the NCR region," Kajaria Ceramics Chairman & Managing Director Ashok Kajaria said in a statement. Kajaria Eternity is the company's premium brand, offering glazed vitrified tiles. "A bathroom is an essential part of any household...This is only the beginning; we intend to open more large stores across India, Kajaria Bathware Managing Director Rishi Kajaria noted. The store will also function as a resource centre where experienced professionals will teach customers how to make the most of their bathrooms, he said.

Tiles maker Kajaria Ceramics net profit rises 3% to Rs 124.73 crore in Q3

Tiles maker Kajaria Ceramics Ltd on Friday reported a 3 per cent rise in consolidated net profit at Rs 124.73 crore for the third quarter ended December 31.

Somany Ceramics surges 12%, hits 52-week high on strong Q4 results

The revenues during the quarter under review grew 58.8 per cent year-on-year (YoY) to Rs 562 crore from Rs 354 crore on the back of strong volumes

Natural gas under GST regime likely to benefit tile manufacturers

Cheaper gas prices to reduce power & fuel cost and propel margins, say analysts