Murudeshwar Ceramics Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Sale of Products: 72.4% • Services: 27.6%
AI Sector View
AI GENERATEDConsumer Durables
Urban discretionary demand is mixed but investable. Credit card transactions rose 27.0% YoY (2026-06), urban CMIE sentiment was 109.5 (2026-07), and consumer spending remained large at INR 44743 billion (Jun/26), even though formal consumer confidence fell to 88.3 points (Jul/26) and debit card transactions were -9.0% YoY (2026-06). Heavy sector inflows of INR 13175 crore over 3 months to 2026-08-31 indicate strong investor positioning behind the theme.
PROS
- Company has delivered good sales growth of 20.6% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.77x)
- Company generates healthy free cash flow
- Company maintains a comfortable, low leverage position
- Attractively priced for its growth - PEG of 1.0
CONS
- A large part of profit comes from other income (69.8% of PBT)
- Receivables are growing faster than sales - a possible quality concern
- Company has a low return on equity of 2.4% over last 3 years
- Company has a low return on capital employed of 5.1%
- Contingent liabilities are large at 122.2% of net worth
- Total debt has risen sharply - up 34.2% year on year
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| KAJARIACER | 1240.35 | 35.71 | 19491.24 | 1.13 | 171.03 | 55.04 | 1328.08 | 20.43 | 23.07 | 19.69 |
| CERA | 5690.40 | 29.84 | 7339.22 | 1.32 | 47.05 | -0.86 | 422.19 | 5.36 | 19.41 | 13.05 |
| MIDWESTLTD | 1061.80 | 34.58 | 3839.56 | 0.00 | 310.39 | 1173.13 | 1918.39 | 1248.46 | 27.81 | 25.47 |
| POKARNA | 778.80 | 25.44 | 2414.59 | 0.08 | 42.60 | 50.56 | 189.42 | 10.79 | 11.85 | 35.89 |
| NITCO | 92.50 | 0.00 | 2336.33 | 0.00 | -10.33 | -121.77 | 116.02 | -22.48 | 6.58 | -7.07 |
| SOMANYCERA | 555.05 | 21.40 | 2276.42 | 1.08 | 34.23 | 365.71 | 749.56 | 24.62 | 14.43 | 11.50 |
| ASIANTILES | 50.46 | 118.71 | 1496.01 | 0.00 | 8.07 | 11.48 | 530.95 | 36.76 | 2.97 | 6.19 |
| ORIENTBELL | 418.90 | 29.19 | 616.43 | 0.24 | 8.32 | 2318.40 | 203.82 | 43.44 | 5.56 | 8.02 |
| EXXARO | 6.45 | 70.47 | 288.58 | 0.00 | 2.07 | 156.24 | 85.22 | 31.25 | 3.69 | 8.18 |
| MURUDCERA | 31.76 | 19.86 | 192.29 | 0.00 | 0.81 | -58.06 | 50.09 | 8.54 | 5.23 | 19.10 |
| GSLSU | 27.97 | 12.96 | 118.54 | 0.00 | 0.06 | 111.19 | 65.42 | -12.19 | -2.15 | 12.74 |
| PACIFICI | 141.79 | 35.50 | 97.73 | 0.00 | 1.69 | 82.31 | 63.92 | 28.72 | 1.09 | 4.45 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 38 | 46 | 51 | 52 | 43 | 43 | 50 | 66 | 46 | 46 | 51 | 63 | 50 | |
| 30 | 39 | 44 | 44 | 35 | 35 | 42 | 55 | 38 | 39 | 44 | 53 | 48 | |
| Operating Profit | 8 | 7 | 7 | 8 | 8 | 7 | 8 | 11 | 8 | 7 | 7 | 10 | 2 |
| OPM % | 19.84% | 15.64% | 14.54% | 15.49% | 18.84% | 17.25% | 15.91% | 16.64% | 17.46% | 15.36% | 13.13% | 15.50% | 4.64% |
| 0 | 0 | 0 | 4 | 0 | 2 | 0 | 3 | 0 | 2 | 4 | 3 | 0 | |
| Interest | 3 | 3 | 2 | 3 | 3 | 3 | 3 | 4 | 3 | 3 | 3 | 4 | 3 |
| Depreciation | 3 | 3 | 3 | 4 | 3 | 3 | 3 | 4 | 3 | 3 | 3 | 5 | 4 |
| Profit before Tax | 2 | 2 | 2 | 5 | 2 | 3 | 2 | 5 | 2 | 3 | 5 | 4 | 2 |
| Tax % | 39.46% | 37.82% | 30.93% | 77.94% | 1.03% | 0.74% | 1.07% | 36.28% | 0.00% | 0.00% | 0.00% | 62.47% | 65.81% |
| Net Profit | 1 | 1 | 2 | 1 | 2 | 3 | 2 | 3 | 2 | 3 | 5 | 1 | 1 |
| 0.19 | 0.21 | 0.28 | 0.16 | 0.32 | 0.45 | 0.31 | 0.53 | 0.32 | 0.52 | 0.77 | 0.28 | 0.13 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 105 | 119 | 126 | 103 | 80 | 123 | 172 | 186 | 203 | 205 | 209 | |
| 79 | 88 | 97 | 82 | 72 | 97 | 142 | 156 | 168 | 174 | 184 | |
| Operating Profit | 26 | 32 | 29 | 21 | 9 | 26 | 31 | 30 | 35 | 31 | 26 |
| OPM % | 24.99% | 26.47% | 22.84% | 20.08% | 11.14% | 21.05% | 17.88% | 16.15% | 17.06% | 15.32% | 12.29% |
| 1 | 1 | 2 | 9 | 1 | 1 | 1 | 4 | 5 | 10 | 10 | |
| Interest | 17 | 19 | 16 | 16 | 16 | 13 | 13 | 11 | 13 | 12 | 13 |
| Depreciation | 8 | 9 | 9 | 10 | 10 | 10 | 11 | 12 | 14 | 15 | 15 |
| Profit before Tax | 2 | 5 | 5 | 3 | -16 | 4 | 7 | 11 | 12 | 14 | 14 |
| Tax % | 46.59% | 3.51% | 8.75% | 47.25% | 25.54% | 42.30% | 10.42% | 55.37% | 16.95% | 17.77% | 28.30% |
| Net Profit | 1 | 5 | 5 | 2 | -12 | 2 | 7 | 5 | 10 | 11 | 10 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | -2.42 | 0.47 | 1.03 | 0.85 | 1.64 | 1.86 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 43.69% | 59.04% | 30.50% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 6%
- 5 Years:
- 21%
- 3 Years:
- 6%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 22%
- 5 Years:
- —
- 3 Years:
- 20%
STOCK PRICE CAGR
- 10 Years:
- 0%
- 5 Years:
- 3%
- 3 Years:
- -10%
- 1 Year:
- -33%
RETURN ON EQUITY
- 10 Years:
- 1%
- 5 Years:
- 2%
- 3 Years:
- 2%
- Last Year:
- 3%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 43 | 45 | 48 | 48 | 52 | 55 | 58 | 61 | 61 | 61 |
| 281 | 275 | 285 | 287 | 278 | 283 | 292 | 304 | 311 | 319 | |
| 32 | 32 | 93 | 81 | 86 | 83 | 120 | 110 | 116 | 146 | |
| Trade Payables | 21 | 20 | 15 | 24 | 19 | 19 | 28 | 25 | 31 | 33 |
| 100 | 103 | 33 | 33 | 36 | 35 | 43 | 48 | 51 | 57 | |
| Total Liabilities | 477 | 475 | 474 | 473 | 472 | 475 | 540 | 548 | 569 | 616 |
| 309 | 302 | 298 | 306 | 296 | 296 | 295 | 360 | 348 | 389 | |
| Capital Work in Progress | 2 | 5 | 1 | 2 | 8 | 6 | 78 | 10 | 38 | 24 |
| 4 | 4 | 4 | 4 | 4 | 9 | 9 | 9 | 9 | 9 | |
| 104 | 112 | 101 | 100 | 104 | 112 | 118 | 116 | 109 | 115 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 16 | 41 | 51 | |
| Cash & Bank | 6 | 4 | 3 | 3 | 3 | 6 | 2 | 14 | 2 | 6 |
| 53 | 49 | 67 | 58 | 57 | 45 | 38 | 21 | 23 | 21 | |
| Total Assets | 477 | 475 | 474 | 473 | 472 | 475 | 540 | 548 | 569 | 616 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 22 | 4 | 14 | 47 | 1 | 25 | 44 | 31 | 29 | 13 | |
| Cash from Investing | -20 | -4 | -1 | -18 | -6 | -13 | -81 | -5 | -25 | -33 |
| Cash from Financing | -4 | -3 | -15 | -29 | 5 | -8 | 35 | -13 | -16 | 23 |
| -1 | -2 | -1 | 0 | 0 | 3 | -4 | 13 | -12 | 4 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-18 - Notice of 43rd Annual General Meeting (AGM) scheduled to be held on Friday, 18th September, 2026 at 3:00 P.M.for the financial year ended 31st March, 2026.
2026-08-13 - Murudeshwar Ceramics Limited has informed the Exchange that Record date for the purpose of MT is 04-Sep-2026.
2026-08-13 - Intimation for the 43rd Annual General Meeting (AGM) scheduled to be held on Friday, 18th September, 2026 at 3:00 P.M.
2026-08-12 - Murudeshwar Ceramics Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-09 - Murudeshwar Ceramics Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018
2026-05-29 - Outcome of the Board Meeting held today, on May 29, 2026, and announcements pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and submission of financial results for the quarter and year ended March 31, 2026.
2026-04-29 - Murudeshwar Ceramics Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
News
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