Kajaria Ceramics Downgraded to 'Sell' by MarketsMOJO on October 22, 2024
Kajaria Ceramics, a leading player in the ceramics, marble, granite, and sanitaryware industry, has recently been downgraded to a 'Sell' by MarketsMOJO on October 22, 2024.The downgrade is based on the company's poor long-term growth, with net sales growing at an annual rate of 9.06% and operating profit at 7.98% over the last 5 years. In addition, the company reported negative results in September 2024, with its PBDIT(Q), PBT LESS OI(Q), and PAT(Q) at their lowest levels.
Technically, the stock is currently in a Mildly Bearish range, with the technical trend deteriorating from Mildly Bullish on October 22, 2024. The Bollinger Band has also been Bearish since then.
In the last 1 year, Kajaria Ceramics has underperformed the market, generating a return of only 4.30% compared to the market's (BSE 500) returns of 31.91%.
However, the company has shown high management efficiency with a high ROE of 16.07% and a low debt to equity ratio (avg) of 0 times. Its ROE of 16.1 also indicates a fair valuation with a price to book value of 7.8, although the stock is currently trading at a premium compared to its historical valuations.
In the past year, while the stock has generated a return of 4.30%, its profits have risen by 10.6%, resulting in a PEG ratio of 4.8. Additionally, Kajaria Ceramics has a high institutional holding of 44.05%, indicating that these investors have better capability and resources to analyze the company's fundamentals.
With a market cap of Rs 21,500 crore, Kajaria Ceramics is the largest company in the sector, constituting 43.25% of the entire industry's market share. Its annual sales of Rs 4,627.88 crore also make up 30.77% of the industry's total sales.
Overall, while Kajaria Ceramics may have some positive factors, the recent downgrade by MarketsMOJO and its underperformance in the market suggest that it may not be a good investment option at this time. Investors should carefully consider all factors before making any decisions regarding this stock.
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