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ICICI Direct Report
Kajaria Ceramics Ltd.'s performance was strong across topline and bottomline.
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Tiles sales volumes were up 39.2% YoY at 25.4 million square metres, driven by a stellar rebound in demand and benign base (Q4 FY20 had 19% volume decline). The topline was up 46.1% YoY at Rs 952.5 crore, driven by strong volume growth and realisations (up 2.8% YoY).
Tiles revenues were up 43.1% YoY to Rs 865.8 crore.
Faucet and sanitaryware revenues were up 73% YoY at Rs 71.3 crore.
Plywood revenues were up 165% YoY at Rs 15.3 crore, on a low base.
Ebitda was at Rs 190.9 crore with margins at 20%, up 573 basis points YoY driven by operating leverage.
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