Kajaria Ceramics (500233) Q4 21/22 earnings summary

Executive summary

• FY22 delivered record consolidated revenue of ₹3,705.19 crore, up 33% YoY; EBITDA rose 20% and net profit attributable to owners grew 22%.

• Demand growth and higher sales volumes were offset by sharp fuel-cost inflation, reducing EBITDA margin to 16.48% from 18.30%.

Financial highlights

• Consolidated revenue was ₹3,705.19 crore vs ₹2,780.90 crore; EBITDA was ₹610.69 crore vs ₹508.82 crore, and profit attributable to owners was ₹376.98 crore vs ₹308.05 crore.

• Consolidated EPS was ₹23.69 vs ₹19.37; operating cash flow was ₹425.52 crore vs ₹508.76 crore.

• Q4 FY22 revenue reached ₹1,101.75 crore, up 16% YoY; EBITDA fell 13% to ₹165.94 crore and net profit fell 25% to ₹95.76 crore.

Outlook and guidance

• FY23 outlook was described as promising, supported by residential and commercial real estate, infrastructure spending, renovation demand, and opportunities in Tier II and III cities.

• Inflation linked to the Russia-Ukraine crisis was identified as the key FY23 profitability risk; cost optimisation and efficiency measures were planned to mitigate pressure.

• Management planned to pursue revenue growth and profitability through capacity additions, value-added products, deeper domestic reach, and digital channels.