Profit before tax stood at Rs 136.37 crore in Q4 FY22, down by 19.4% from Rs 169.20 crore in Q4 FY21. Total expense spiked 22.97% to Rs 972.41 crore in Q4 FY22 over Q4 FY21.
EBITDA declined 13% to Rs 165.94 crore in Q4 FY22 compared with Rs 190.93 crore in Q4 FY21. EBITDA margin stood at 15.06% in Q4 FY22 as against 20.04% in Q4 FY21.
The company's chairman said: Against a backdrop of geopolitical volatility and high commodity prices, the company has posted highest sales volume of 91.65 MSM (growth of 21% YoY) with record revenues Rs 3,705 crore (growth of 33% YoY) for the financial year ended 2022. In Q4FY22, our volumes grew by 2% to 25.97 MSM and revenues by 16% to Rs 1,102 crore in spite of lockdowns in several states in the months of January and February. During the quarter, EBITDA margin was 15.06%, affected due to higher gas prices, reduction in gas supply as well as unprecedented all-round inflationary pressure on other raw materials.
He further added, We believe that demand scenario continues to be healthy given traction in real estate sector, rapid urbanisation, consumer preference shifts and increased application of tiles in replacement and renovation projects.
On full year basis, the company reported a 22% increase in net profit to Rs 376.98 crore on 33% rise in net sales to Rs 3705.19 crore in FY22 over FY21.
The board has recommended a final dividend of Rs 3 per share for the financial year ended 31 March 2022.
Further, the board approved an additional acquisition of 2,09,000 equity shares of Kajaria Plywood ('KPPL'), subsidiary company at a consideration aggregating to Rs 20.90 lakh to make it wholly-owned subsidiary of the company and increase the limits of investments in KPPL from Rs 50 crore to Rs 60 crore, in one or more tranches, through subscription of equity shares of KPPL and/or granting of unsecured loan to KPPL, subject to compliance of applicable laws. Currently, the company holds 97.89% equity shares of KPPL. The object of acquisition is to meet the operational expenses and working capital needs of KPPL. Indicative time period for completion of the acquisition is upto June 2022.
The board also approved withdrawal of the investment proposal upto Rs 210 crore by the company in Kajaria Ultima, to setup a slab manufacturing facility in Gujarat.
Kajaria Ceramics is the largest manufacturer of ceramic/vitrified tiles in India and the eighth largest in the world. It has present annual capacity of 70.40 million sq. meters (MSM) presently, distributed across eight plants - one at Sikandrabad in Uttar Pradesh, one at Gailpur and one at Malootana in Rajasthan, three at Morbi in Gujarat and one at Vijayawada and one at SriKalahasti in Andhra Pradesh.
Shares of Kajaria Ceramics were down 0.4% at Rs 941.85 on the BSE.
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