1,150 per cent returns: This multibagger tile manufacturing company enters into a 50:50 JV with UK Parts (Holdings) Ltd!
The stock gave multibagger returns of 1,150 per cent in a decade whereas the BSE Mid-cap Index is up by 495 per cent.
Kajaria Ceramics Ltd inform you that a joint venture agreement was executed on September 19, 2023, between KAJARIA INTERNATIONAL DMCC, U.A.E., a wholly-owned subsidiary of the Company and UK PARTS (HOLDINGS) LTD, UK.
The purpose of this Agreement is to enter into a joint venture for doing trading & marketing business of glazed vitrified tiles, polished vitrified tiles and other allied products in the UK through a newly incorporated company namely KAJARIA-UKP LTD in the United Kingdom, as per the laws of England & Wales, by way of acquiring its shares in the equal ratio, i.e., 50:50, on a joint venture basis or by providing loans from time to time.
Kajaria Ceramics Ltd is primarily engaged in the manufacturing and trading of ceramic and vitrified tiles in India. It is the largest manufacturer of ceramic/ vitrified tiles in India and 8th largest in the world. The company's product portfolio mainly includes ceramic wall & floor tiles, polished & glazed vitrified tiles, bathware solutions and plywood & laminates.
Talking about the financials, Kajaria Ceramics has a market cap of over Rs 21,000 crore with a 3-year stock price CAGR of 39 per cent. According to the Quarterly Results and annual results, the company reported positive numbers. The company has been maintaining a healthy dividend payout of 46.6 per cent.
On Wednesday, shares of Kajaria Ceramics Ltd plunged 1.24 per cent to Rs 1,369.60 per share with an intraday high of Rs 1,383.65 and an intraday low of 1,354.30.
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The stock gave multibagger returns of 1,150 per cent in a decade whereas the BSE Mid-Cap Index is up by 495 per cent. Investors should keep an eye on this leading tile manufacturing company’s stock.
Disclaimer: The article is for informational purposes only and not investment advice.