Kajaria Ceramics surged 3.78% to Rs 482.95 at 15:18 IST on BSE after consolidated net profit jumped 36.85% to Rs 42.11 crore on 19.89% growth in total income from operations to Rs 524.27 crore in Q4 March 2014 over Q4 March 2013.
The Q4 result was announced during trading hours today, 7 May 2014.
Meanwhile, the S&P BSE Sensex was down 188.27 points or 0.84% at 22,320.15.
The stock surged on heavy volumes. On BSE, so far 3.03 lakh shares were traded in the counter as against average daily volume of 39,000 shares in the past two weeks.
The stock was volatile. The stock surged as much as 11.91% at the day's high of Rs 520.80 so far during the day, which is a record high for the counter. The stock lost as much as 0.07% at the day's low of Rs 465 so far during the day.
Kajaria Ceramics' consolidated net profit rose 18.85% to Rs 124.22 crore on 16.21% growth in total income from operations to Rs 1840.04 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).
Kajaria Ceramics said it plans to add 50% of its existing capacity (as on 31 March 2014) in the next 24 months.
Kajaria Ceramics' board of directors at its meeting held today, 7 May 2014, approved to increase stake in Jaxx Vitrified (Subsidiary) from 51% to 61%. The board approved to acquire 51% stake in Taurus Tiles, Morbi (Gujarat) by subscribing to the equity shares of the company. Taurus Tiles is in the process of setting up a plant having 5 MSM annual capacity of Polished Vitrified Tiles. The board approved to put up green field facility in Rajasthan for production of 5 MSM annual capacity of vitrified Tiles. The board further approved to acquire 100% stake in Kajaria Bathware which plans to put up a faucet plant having capacity of 1.5 Million pieces in Gailpur, Rajasthan. The board also approved to sell 64% stake in Kajaria Sanitaryware, Morbi to Kajaria Bathware.
Kajaria Ceramics' board of directors at its meeting held today, 7 May 2014, recommended dividend of Rs 3.50 per share for FY 2014, subject to the approval of the shareholders in the ensuing Annual General Meeting.
Kajaria Ceramics is the largest manufacturer of ceramic/vitrified tiles in India.
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