Tiles Sector Q2 Results Preview - Better Times Ahead: Nirmal Bang

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Nirmal Bang Report.The industry registered growth after a soft patch in Q1 FY24. We believe that Q2 FY24 will be more favorable despite monsoon. The industry is expected to report healthy volume growth of 9-10% post monsoon. Overall, we expect the domestic tiles industry to grow by 9% in FY24. Growth should accelerate on the back of a pick-up in home sales, rapid urbanisation, rising discretionary income and growing preference towards tiles for flooring. Kajaria Ceramics Ltd. and Somany Ceramics Ltd.’s revenue are expected to grow by 10.4%/12% YoY in Q2 FY24. We anticipate improved industry wide Ebitda margins on YoY basis in Q2 FY24 due to the expected moderation in gas prices. However, rising spot liquefied natural gas prices and a 10% gas price hike for Morbi players in September 2023 are likely to drive ~8- 10% increase in average fuel costs for the industry in the remaining quarters of FY24..Click on the attachment to read the full report:.Real Estate Q2 Results Preview - Festive Cheer Awaited: HDFC Securities.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Tiles Sector Q2 Results Preview - Better Times Ahead: Nirmal Bang

Kajaria and Somany Ceramics’ revenue are expected to grow by 10.4%/12% YoY in Q2 FY24.

NDTV Profit

NDTV Profit

Follow Us

DOWNLOAD THE APP

Tiles Sector Q2 Results Preview - Better Times Ahead: Nirmal Bang

Kajaria and Somany Ceramics’ revenue are expected to grow by 10.4%/12% YoY in Q2 FY24.

Choose a plan

Follow Us

DOWNLOAD THE APP