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Swing Capital

Murudeshwar Ceramics Ltd

NSE: MURUDCERA BSE: 515037

Incorporated in 1983, Murudeshwar Ceramics Ltd manufacture and trades in wide range of Ceramic and Vitrified floor & Wall tiles[1]

₹32.9
52W: ₹23.7 — ₹51
PE 15 · Book ₹61.7 · -47% vs book
Market Cap₹199 Cr
Stock P/E15Price to Earnings
ROCE5.24%Return on Capital
ROE2.7%Return on Equity
Div. Yield1.52%Face Value ₹10

Strengths

  • +Stock is trading at 0.54 times its book value
  • +Company has delivered good profit growth of 42.1% CAGR over last 5 years
  • +Company has been maintaining a healthy dividend payout of 44.4%

Weaknesses

  • −Company has a low return on equity of 2.03% over last 3 years.
  • −Debtor days have increased from 47.1 to 73.4 days.

Shareholding Pattern

Promoters73.93%
FIIs0%
DIIs0%
Public26.07%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters73.93%73.93%73.93%73.93%73.93%73.93%73.93%73.93%
FIIs0%0%0%0%0.03%▲0.00%▼0.00.03%▲0.00%▼0.0
DIIs0%0%0%0%0%0%0%0%
Public26.05%26.05%26.06%▲0.026.05%▼0.026.04%▼0.026.06%▲0.026.02%▼0.026.07%▲0.1

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales45.7151.0451.6643.4742.8550.1566.446.1545.5751.11
Expenses38.5643.6243.6535.2835.4542.1855.3638.138.5744.38
Operating Profit7.157.428.018.197.47.9711.048.0576.73
OPM %15.64%14.54%15.51%18.84%17.27%15.89%16.63%17.44%15.36%13.17%
Net Profit1.21.631.171.922.71.853.461.953.174.68
EPS ₹0.210.280.190.320.450.310.570.320.520.77

AI Insights

Revenue Trend

TTM revenue at ₹209Cr, up 3.5% YoY. OPM at 16%.

Debt Position

Borrowings at ₹130Cr. Debt-to-equity ratio: 0.42x. Healthy balance sheet.

Capex Cycle

CWIP at ₹56Cr (16% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0% (+0.00pp change). FIIs: 0% (-0.04pp change). Promoters hold 73.93%.

Margin & Efficiency

ROCE improving from 5% (Mar 2014) to 5% (Mar 2025). Working capital days: 74.

Valuation

PE 15x with 5.24% ROCE. Price is -47% above book value of ₹61.7. Dividend yield: 1.52%.

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