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Kajaria Ceramics Q3 Results Review - Systematix Maintains 'Hold' On The Stock — Here's Why

While long-term structural drivers are intact, on low earnings growth and margin of safety in the scrip at ~30x FY27E P/E, the brokerage maintains Hold rating with a target price of Rs 1,046

<div class="paragraphs"><p>Close view of a person choosing tiles. (Source: freepik)</p></div>
Close view of a person choosing tiles. (Source: freepik)
Kajaria Ceramics has set a three-year mission to achieve 150 million square metre tile volume, Rs 65 billion revenue (tiles 55 billion, bathware 6.75 billion, plywood 1.7 billion) and ~15.5% Ebitda margin.
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