Latest news with #SomanyCeramics
Mint
6 hours ago
- Business
- Mint
Sensex, Nifty 50 rise for 4th consecutive session; investors earn ₹4 lakh crore— 10 key highlights
Indian stock market extended gains to the fourth consecutive session on Monday, June 9, on across-the-board buying amid largely positive global cues. The Sensex closed 256 points, or 0.31 per cent, higher at 82,445.21, while the Nifty 50 settled at 25,103.20, up 100 points, or 0.40 per cent. The mid and small-cap segments outperformed as the BSE Midcap and Smallcap indices rose 1.03 per cent and 1.19 per cent, respectively. The overall market capitalisation of BSE-listed firms rose to ₹ 455 lakh crore from ₹ 451 lakh crore in the previous session, making investors richer by about ₹ 4 lakh crore in a day. In the last four sessions, the Sensex and the Nifty 50 have jumped more than 2 per cent each, and investors have got richer by about ₹ 12 lakh crore. The recent rally in the market has followed healthy domestic macro prints, better-than-expected Q4 results and the RBI's bumper 50 bps rate cut. Positive global cues amid expectations that the US-China and US-India trade deals were near also influenced market sentiment. "The Indian stock market has been experiencing strength recently, backed by positive economic growth and better-than-expected fourth-quarter results. We could see a positive structure for the indices playing out, considering the liquidity in the capital markets continues to be fairly buoyant and the continuation of steady growth in the Indian economy," Jimeet Modi, founder and CEO of SAMCO Group, told Mint. 39 stocks ended higher in the Nifty 50 index, out of which Jio Financial Services (up 3.89 per cent), Kotak Mahindra Bank (up 3.25 per cent) and Bajaj Finance (up 2.69 per cent) ended as the top gainers. Shares of Eternal (down 1.86 per cent), ICICI Bank (down 1.73 per cent) and Titan Company (down 0.73 per cent) closed as the top losers in the index. Barring Nifty Realty (down 0.14 per cent), all sectoral indices ended higher. Nifty PSU Bank (up 1.52 per cent), Private Bank (up 1.03 per cent), Oil & Gas (up 1.04 per cent) and IT (up 1 per cent) ended as the top gainers. Nifty Bank and Financial Services indices rose 0.46 per cent and 0.54 per cent, respectively. Vodafone Idea (63.1 crore shares), Jaiprakash Power Ventures (19.50 crore shares), and Reliance Power (18.8 crore shares) were the most active stocks in terms of volume on the NSE. HB Stockholdings, Indef Manufacturing, Airo Lam, Oriental Carbon & Chemicals, Wealth First Portfolio Managers and Somany Ceramics were among the 12 stocks that jumped over 15 per cent on the NSE. As many as 133 stocks, including Coffee Day Enterprises, Jaiprakash Associates, Somany Ceramics, Capri Global Capital and Reliance Infrastructure, hit their upper circuits in intraday trade on the NSE. On the other hand, 54 stocks, including Nirman Agri Genetics, Dynamic Services & Security, Power & Instrumentation (Gujarat), Best Agrolife and Grand Continent Hotels, hit their lower circuits. As many as 2,066 stocks advanced, while 904 declined and 85 remained unchanged on the NSE. As many as 178 stocks, including Bajaj Finance, AU Small Finance Bank, HDFC Asset Management Company, InterGlobe Aviation (IndiGo) and SRF, hit their 52-week highs in intraday trade on the BSE. On the flip side, United Drilling Tools, Uma Exports, Naksh Precious Metals, Gujarat Lease Financing and Axita Cotton were among the 43 stocks that hit their 52-week lows. Experts believe the Indian stock market could extend gains and the Nifty 50 could target 25,350 mark in days to come. "The Nifty has finally broken out of its prolonged consolidation on the daily timeframe. Market sentiment appears positive, with the index sustaining well above the crucial 50-day moving average (50DMA)," said Rupak De, Senior Technical Analyst at LKP Securities. According to De, a golden crossover on the daily chart has been supporting the bullish sentiment. Following the breakout, a rise towards 25,350 looks likely. "A decisive move above this level could trigger a rally towards 25,700. On the downside, support is placed at 24,850; a breach below this level may lead to a shift in sentiment," said De. Read all market-related news here Read more stories by Nishant Kumar
Time of India
15-05-2025
- Business
- Time of India
Somany Ceramics eyes bathware revenue of ₹600 crore in four years; expects consolidation in tiles sector
NEW DELHI: Somany Ceramics reported a drop of 3.88 per cent in its net profit during the quarter ended March 31, 2025. Its profit after tax stood at ₹28.47 crore in Q4 FY25 as against ₹29.62 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company's net total income stood at ₹750.49 crore, a growth of 4.35 per cent from ₹719.20 crore it recorded in the similar quarter last year. The board of directors recommended final dividend @ 150% i.e. ₹3 per share of face value of ₹2 each for the financial year ended March 31, 2025. Total debt was at ₹288 crore, down from ₹233 crore in FY24. In conversation with ETRealty , Abhishek Somany , managing director & CEO of the company talked about the company's performance in FY25, market outlook, ESG practices, and expansion strategy in bathware and adhesives. Edited excerpts: How has been the last financial year (FY25) for you? It's been a muted year for two, three reasons. First quarter remained muted due to elections. In the second quarter we thought there would be some kind of recovery which didn't happen. Third quarter was more or less the same. One reason we can think of is that the people diverted their money into the market while dealers went on to buy assets. There was also a delay in releasing new tenders and disbursing funds last financial year, which impacted the demand as well. There's been a weak demand scenario, which continued to impact both domestic and exports, specifically exports, which was down 20% in FY25. From a high of ₹20,000 crore, it was down to approximately anywhere between ₹16,000 crore to ₹17,000 crore. Anticipating the demand, plywood, tiles and sanitaryware industry stakeholders added capacity. Substantial amount of capacity has come up in the last 24-36 months. Global uncertainity, wars also meant that the supply which was to go abroad has been dumped in India, which also impacted the overall market. Do you expect any pricing changes in FY26? We don't expect prices to fall further. Last year, our prices declined by 2–3%, while the industry average was around 10–15%. Prices are likely to remain stable this year. What do you expect from the next financial year (FY26)? A lot of residential projects which were launched after covid are expected to reach completion stage this financial year, which will benefit our industry. We are poised for growth. Prices have come down to such level that now the quality is being compromised by local players. For them it has become financially untenable to continue. Exports have started opening up. We want to expand the product lines for sanitaryware, bath fittings, tiles and adhesives. For adhesive segment, we want to expand in South India and we will be setting up a plant. What is your current capacity utilization? Our current capacity is 75 million sq ft per annum. Capacity utilization overall decreased by 8%, so which means that for the entire year, we were down to about 81% from 86% in FY24 while the industry is at 70-75%. Capacity utilization in the sanitaryware segment is 96% and we are running at optimum capacity in the faucet plant. What portion of your business comes from retail and corporate segments? Around 12% of our revenue is from the corporate segment, and the remaining 88% comes from retail. How was your growth in the last financial year? As far as we are concerned, our total sales grew by 5% and volume grew by about 3% in Q4. We had given a guidance of 8-10% in FY25. Operating margins largely remained the same at 8.2% in Q4. Gross margins decreased by about 2.8%. So, this was something which has been seen in the last four quarters, although we were able to maintain a decent margin overall, but there was a little pressure on the margins considering it was Q4 and a little bit of extra discounting, which happens towards the end of the year. What is your market size in sanitaryware industry? Currently our revenue is about ₹300 crore of the overall ₹18,000 crore bathware and fittings market. In the next four years, we want to generate revenue of ₹600 crore. With ESG reporting now mandatory under SEBI norms, what's the current status of Somany Ceramics' sustainability disclosures and reporting practices? We've been among the early adopters when it comes to ESG disclosures. We had already released a Business Responsibility and Sustainability Report (BRSR), and this May, we're taking it a step further with a fully detailed ESG report—around 30 to 40 pages long—focusing solely on sustainability. It covers our progress across water treatment, circularity, energy use, and governance structures. This isn't just a compliance exercise for us; it's integral to our business approach. Could you elaborate on the operational areas where you've implemented ESG-led improvements? There are four primary areas where we've made significant progress. First is water management—through advanced effluent treatment, we're close to becoming a zero-discharge operation. Second is circularity—we're reusing our own tile waste by crushing it and using it as a substitute for raw materials like sand and cement in adhesives. Third is energy optimization. Earlier, we used to consume 100 units of gas to produce 800 square meters of tile. Now, thanks to R&D and process innovation, we produce 900 to even 1,000 square meters with the same energy input. This is done through waste heat recovery, better insulation, and more efficient thermal cycling. And finally, we've institutionalized governance around ESG. We've brought in external experts, and ESG reporting is now reviewed at the board level. Has the SEBI mandate on BRSR increased your operational costs? If yes, how do you balance that with business priorities? Yes, compliance does come at a cost, but it also brings structure and long-term gains. We've seen the same evolution in CSR. Earlier, CSR was something we did informally—through our family trust we ran schools and colleges—but with mandatory rules, there is now reporting, board oversight, and more impactful deployment. ESG is evolving in the same way. Having to file a formal ESG report and be externally audited forces us to think deeper, set goals, and assess our environmental and social impact more systematically. Do you believe ESG is driving actual business benefits or is it still largely reputational? For some companies, ESG might just be a box-ticking exercise. But for us, it's been quite the opposite. It's yielding real, measurable value—whether that's in operational efficiency, cost savings, or future readiness. We've taken it seriously, not just because regulators require it, but because it's helping us become a more competitive, resilient business. Are there any product-level innovations within your manufacturing setup that have delivered tangible impact? We currently hold three patents that are quite unique, particularly in the South Asian market. The first is for high abrasion resistance tiles, which are designed for heavy footfall areas such as airports, railway stations, malls, and other commercial spaces. We were the only company in this region to secure such a patent, and it's already helping us differentiate in high-traffic project bids. The second is Slip Shield, a slip-resistant tile that we've developed specifically for wet areas. The third is Temp Shield, which is designed to lower ambient temperatures. When used on rooftops, these tiles can reduce the top floor temperature by 3 to 5 degrees Celsius. This has a direct impact on cooling loads, energy consumption, and ultimately helps reduce the building's carbon footprint. These innovations are the result of focused R&D and are aligned with both performance needs and sustainability goals. What are some of the key challenges you've faced over the past year, and is there anything specific you'd like to see from the government to support the industry? There are two primary challenges we've been grappling with. The first is the volatility in energy costs, particularly natural gas, which remains a major input for ceramic manufacturing. The second is market-level distortions caused by tax non-compliance, especially in Morbi, Gujarat—a major tile production hub. On the policy front, we have two key asks. One, we strongly urge the government to bring natural gas under the ambit of GST. Currently, gas procurement falls outside the GST framework, which breaks the input tax credit chain and raises costs. Including it under GST would help manufacturers across the board and improve tax efficiency. The second is a call for stricter enforcement on tax evasion in Morbi. A level playing field is essential for fair competition, and unchecked under-invoicing and evasion practices there are hurting compliant players like us. We hope the authorities will take cognizance and act decisively. Do you foresee any significant changes in the tiles industry going forward? Yes, the industry is undergoing a fundamental shift. We're seeing many smaller, unorganised players shutting down operations, primarily because their business models are no longer viable. Export markets, which once served as a major outlet for surplus production—particularly from Morbi—have slowed down considerably. With ₹6,000 crore worth of exports disrupted, and limited domestic demand to absorb the excess, these players are finding it increasingly difficult to sustain themselves. Unlike branded or organised players, many of these firms don't have strong domestic distribution, brand equity, or pricing power. India is saturated in certain categories, and with limited differentiation, oversupply has created intense margin pressure. While there's still a market for lower-cost products, the shift toward consolidation is inevitable, and larger, more compliant players are poised to gain market share and scale as this transition unfolds.
Business Standard
08-05-2025
- Business
- Business Standard
Somany Ceramics consolidated net profit declines 30.74% in the March 2025 quarter
Sales rise 4.65% to Rs 765.86 crore Net profit of Somany Ceramics declined 30.74% to Rs 21.34 crore in the quarter ended March 2025 as against Rs 30.81 crore during the previous quarter ended March 2024. Sales rose 4.65% to Rs 765.86 crore in the quarter ended March 2025 as against Rs 731.81 crore during the previous quarter ended March 2024. For the full year,net profit declined 38.00% to Rs 60.07 crore in the year ended March 2025 as against Rs 96.88 crore during the previous year ended March 2024. Sales rose 2.56% to Rs 2643.31 crore in the year ended March 2025 as against Rs 2577.32 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 765.86731.81 5 2643.312577.32 3 OPM % 8.1610.86 - 8.369.82 - PBDT 54.0767.63 -20 177.46217.37 -18 PBT 24.9648.33 -48 87.20144.86 -40 NP 21.3430.81 -31 60.0796.88 -38
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)
