Kajaria Ceramics –
Guiding for 14 odd pc volume growth in FY 24 with 14-16 pc EBITDA margins. Q1 volume growth was 6 pc. Guiding for a really punchy second half
Exporters from Morbi are doing really really well as many countries have imposed anti dumping duties on Chinese tiles directly helping Morbi players. This is also good for the likes of Kajaria, Johnson and Somany otherwise Morbi players end up dumping in India
Gas prices ( key RM ) are down to normal levels helping the entire Industry
Somany Ceramics –
Kajaria’s commentary makes me like Somany Ceramics at CMP … A back of the envelop calculation reveals a good possibility of 2800 cr top line with 280 cr EBITDA. Their current mkt cap is 3100 cr
Disc: will initiate a tracking position on Monday
| Subscribe To Our Free Newsletter |
