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Economic Times
06-05-2025
- Business
- Economic Times
Kajaria Ceramics exits from plywood business due to continued losses
New Delhi, Kajaria Ceramics, a leading manufacturer of ceramic and vitrified tiles, said it has exited its loss-making plywood business. The board of the company on Tuesday "approved to discontinue the operations of Kajaria Plywood, wholly owned subsidiary due to lack of strategic fit & continued losses", Kajaria Ceramics informed the bourses. ADVERTISEMENT The company has fully impaired its investment and loan to Kajaria Plywood, amounting to Rs 112.38 crore, and expects to close the plywood business by June 30, 2025. Kajaria Ceramics, on Tuesday, declared its results for the March quarter, in which its consolidated profit declined 58.6 per cent to Rs 43.18 crore, due to settlement with JV partners and vendors of the plywood business. It was at Rs 104.27 crore in the January-March period a year ago. "Profit after tax for Q4FY25 was Rs 43 crore as compared to Rs 102 crore in Q4FY24, mainly due to additional provision in plywood division for settlement with JV partners and vendors," said its Chairman Ashok Kajaria in its earnings statement. Its revenue from operations was up 1.13 per cent to Rs 1,221.85 crore in the March quarter of FY25, due to softness in demand. ADVERTISEMENT "In Q4 FY25, we witnessed very soft demand in the domestic as well as export market. We could grow our tile volume by 2 per cent in Q4 FY25," it said. Total expenses of Kajaria Ceramics were up 4.65 per cent to Rs 1,132.91 crore in the March quarter. ADVERTISEMENT "The EBITDA margin during the quarter under review stood at 10 per cent. The reasons for the decline in margin are another muted quarter of the bathware division, some loss in UK operation and provision of doubtful debts in the plywood division, as we have decided to close this division," said Ashok Kajaria. For the financial year, which ended March 31, 2025, Kajaria Ceramics' profit was down 30.57 per cent to Rs 300.02 crore. ADVERTISEMENT Its total revenue in FY25 was up 3.6 per cent to Rs 4,635.07 crore. Shares of Kajaria Ceramics Ltd on Tuesday settled at Rs 799.75 on the BSE, down 2.87 per cent from the previous close. (You can now subscribe to our Economic Times WhatsApp channel)
Time of India
06-05-2025
- Business
- Time of India
Kajaria Ceramics exits from plywood business due to continued losses
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi, Kajaria Ceramics, a leading manufacturer of ceramic and vitrified tiles, said it has exited its loss-making plywood business. The board of the company on Tuesday "approved to discontinue the operations of Kajaria Plywood, wholly owned subsidiary due to lack of strategic fit & continued losses", Kajaria Ceramics informed the company has fully impaired its investment and loan to Kajaria Plywood, amounting to Rs 112.38 crore, and expects to close the plywood business by June 30, Ceramics, on Tuesday, declared its results for the March quarter, in which its consolidated profit declined 58.6 per cent to Rs 43.18 crore, due to settlement with JV partners and vendors of the plywood was at Rs 104.27 crore in the January-March period a year ago."Profit after tax for Q4FY25 was Rs 43 crore as compared to Rs 102 crore in Q4FY24, mainly due to additional provision in plywood division for settlement with JV partners and vendors," said its Chairman Ashok Kajaria in its earnings revenue from operations was up 1.13 per cent to Rs 1,221.85 crore in the March quarter of FY25, due to softness in demand."In Q4 FY25, we witnessed very soft demand in the domestic as well as export market. We could grow our tile volume by 2 per cent in Q4 FY25," it expenses of Kajaria Ceramics were up 4.65 per cent to Rs 1,132.91 crore in the March quarter."The EBITDA margin during the quarter under review stood at 10 per cent. The reasons for the decline in margin are another muted quarter of the bathware division, some loss in UK operation and provision of doubtful debts in the plywood division, as we have decided to close this division," said Ashok the financial year, which ended March 31, 2025, Kajaria Ceramics' profit was down 30.57 per cent to Rs 300.02 total revenue in FY25 was up 3.6 per cent to Rs 4,635.07 of Kajaria Ceramics Ltd on Tuesday settled at Rs 799.75 on the BSE, down 2.87 per cent from the previous close.
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Business Standard
06-05-2025
- Business
- Business Standard
Kajaria Ceramics exits from plywood business due to continued losses
Kajaria Ceramics, a leading manufacturer of ceramic and vitrified tiles, said it has exited its loss-making plywood business. The board of the company on Tuesday "approved to discontinue the operations of Kajaria Plywood, wholly owned subsidiary due to lack of strategic fit & continued losses", Kajaria Ceramics informed the bourses. The company has fully impaired its investment and loan to Kajaria Plywood, amounting to Rs 112.38 crore, and expects to close the plywood business by June 30, 2025. Kajaria Ceramics, on Tuesday, declared its results for the March quarter, in which its consolidated profit declined 58.6 per cent to Rs 43.18 crore, due to settlement with JV partners and vendors of the plywood business. It was at Rs 104.27 crore in the January-March period a year ago. "Profit after tax for Q4FY25 was Rs 43 crore as compared to Rs 102 crore in Q4FY24, mainly due to additional provision in plywood division for settlement with JV partners and vendors," said its Chairman Ashok Kajaria in its earnings statement. Its revenue from operations was up 1.13 per cent to Rs 1,221.85 crore in the March quarter of FY25, due to softness in demand. "In Q4 FY25, we witnessed very soft demand in the domestic as well as export market. We could grow our tile volume by 2 per cent in Q4 FY25," it said. Total expenses of Kajaria Ceramics were up 4.65 per cent to Rs 1,132.91 crore in the March quarter. "The EBITDA margin during the quarter under review stood at 10 per cent. The reasons for the decline in margin are another muted quarter of the bathware division, some loss in UK operation and provision of doubtful debts in the plywood division, as we have decided to close this division," said Ashok Kajaria. For the financial year, which ended March 31, 2025, Kajaria Ceramics' profit was down 30.57 per cent to Rs 300.02 crore. Its total revenue in FY25 was up 3.6 per cent to Rs 4,635.07 crore. Shares of Kajaria Ceramics Ltd on Tuesday settled at Rs 799.75 on the BSE, down 2.87 per cent from the previous close.
Reuters
06-05-2025
- Business
- Reuters
India's Kajaria Ceramics misses fourth-quarter profit view, exits plywood business
May 6 (Reuters) - India's Kajaria Ceramics ( opens new tab reported fourth-quarter profit well below expectations on Tuesday due to lacklustre prices and demand for its tiles, and said it will discontinue its loss-making plywood business. The company's consolidated net profit dropped more than 58% to 425.2 million rupees ($5 million) in the quarter ended March 31. Analysts, on average, had estimated a profit of 1.01 billion rupees, per data compiled by LSEG. Its stock, which had been trading lower through the day, fell 4% after results. The company has missed profit expectations for all four quarters of fiscal 2025. Losses in its plywood business widened to 307.9 million rupees in the reported quarter, from 26.8 million rupees a year ago. The segment, in which Kajaria competes with the likes of Century Plyboards ( opens new tab and Greenply Industries ( opens new tab, is no longer a "strategic fit" and will be discontinued, it said. Favourable weather in the reported quarter boosted construction activities, benefitting allied sectors, like cement makers. However, with customers increasingly opting for cheaper, unbranded alternatives from unorganised players, tile manufacturers such as Kajaria and peer Somany Ceramics ( opens new tab have been struggling with weak demand for their branded products. "In Q4 FY25, we witnessed very soft demand in the domestic as well as the export market... The industry scenario is a bit challenging," Chairman Ashok Kajaria said in a statement. Its volumes grew 2% in the fourth quarter, missing HDFC Securities' expectations of an 8% volume growth. Revenue rose 1% on-year to 12.22 billion rupees, also missing analysts' estimates of 12.83 billion rupees. ($1 = 84.4110 Indian rupees)
