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Kajaria Ceramics Readies Rs. 200 Crore for Investment Next Fiscal

January 14, 2015

Kajaria Ceramics will invest up to Rs. 200 crore next fiscal to enhance capacity of its tiles business as it targets over 20 per cent year-on-year growth in its turnover. The company reported a 55.18 percent jump in consolidated net profit at Rs. 45.61 crore for the third quarter ended December 31, 2014 as against net profit of Rs. 29.39 crore in the corresponding period last year.

“We will invest Rs 150-200 crore in the next financial year to increase capacity of tiles. This is needed as we are targeting 20 per cent plus growth for the next five years,” Kajaria Ceramics Managing Director Ashok Kajaria said. He said the company is also looking at entering into a joint venture to increase capacity for its tiles business next year.

The company, which has recently entered into sanitary ware and sanitary fittings segment, will continue to focus on tiles as it accounts for over 90 per cent of total turnover. “For the next five years, our main business will be titles. It accounts of over 90 per cent of total sales,” Kajaria said.

In the quarter ended December 30, 2014, Kajaria Ceramics reported net sales at Rs. 553.83 crore, up 30.11 per cent, from Rs. 425.66 crore in the year-ago period. Its overall expenses rose to Rs. 483.11 crore in the October-December quarter, up 30.05 per cent as compared with Rs. 371.47 crore in the same period a year ago. The company’s scrips were trading at Rs 628 apiece, up 1.08 per cent from its previous close on the BSE.

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