BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Target Hit|| Long (1Y)
Edelweiss downgrades Kajaria Ceramics to hold
Kajaria Ceramics' Q1 earnings were below estimates on account of lower than estimated volumes. Management is optimistic on demand and pegs FY17 volume growth at more than 10 per cent and expects to sustain EBITDA margin at 19-20 per cent. We remain positive on the stock on account of its leadership position, sound brand and robust growth trajectory. However, we downgrade the stock to 'hold' owing to expensive valuation.