Kajaria Ceramics is the largest manufacturer of ceramic/vitrified tiles in India. It has an annual capacity of 54.10 mn. sq. meters presently, distributed across seven plants - one in Sikandrabad (UP), one in Gailpur (Raj.), four in Morbi (Guj.) and one in Vijaywada (AP). The market was not too happy with the performance though they were a good set of numbers. For Q2FY15, the company had a 16% (YoY) rise in consolidated net profit at Rs.538 crore. Operating costs rose 15% and EBITDA came in at Rs.69 crore, up 22%. EBITDA margin for the quarter was at 15.39% v/s 14.58% in previous Q2. Interest cost came down 26% and the company ended Q2FY15 with a consolidated net profit at Rs.40 crore, up 48%.

Volumes rose 8% at 11.27 million sq.meters (MSM) while production was up 13% at 23.09 MSM. During the quarter, it completed brownfield expansions for 4.50 msm of high end polished vitrified tile at Jaxx (JV). Another JV Cosa has also commissioned 3.00 msm of polished vitrified tile (soluble salt) capacity. There are two projects lined up – a greenfield project of 5MSM annual capacity of polished vitrified tiles at a new location in Rajasthan and expected to go on stream by June 2015. Another Brownfield project in Rajasthan with 3 MSM Capacity of ceramic wall tiles is expected to commence by March 2015. In a TV interview, the management has said that it hopes to end FY15 with a 20% jump in topline.