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As cracks appear, tile makers face challenging months ahead
Mint Mumbai
|December 27, 2023
The past six months have been challenging for listed ceramic tile makers.
Shares of key tile manufacturers Somany Ceramics Ltd, Kajaria Ceramics Ltd, and Cera Sanitaryware Ltd have clocked muted returns of 5-7% as demand has been sluggish.
Apart from elevated inflation, a slowdown in retail demand and delays in construction due to higher cement and iron prices have weighed on domestic demand, said analysts. Although real estate activity has picked up, a meaningful revival in domestic demand is unlikely anytime soon and the sector is in for a challenging end to FY24.
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