Murudeshwar Ceramics Limited (MURUDCERA)

Loading page…

Murudeshwar Ceramics Limited (MURUDCERA) · mywealthgrid

About

Murudeshwar Ceramics operates in the ceramics segment of consumer durables. With a market cap of ₹184.46 Cr, the company posted quarterly revenues of ₹45–63 Cr in recent periods with operating margins between 13–19%. The business is cyclically exposed to construction and housing activity.

Face value: ₹10

Market cap

₹170 Cr

P/E

17.6×

P/B

0.4×

Dividend yield

3.6%

ROE

2.9%

ROCE

5.7%

Debt / equity

0.37

OPM

15.3%

EPS (TTM)

₹1.6

Book value

₹62.8

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Revenue declined 20% from ₹62.64 Cr (Mar 2026) to ₹50.09 Cr (Jun 2026); verify whether weakness reflects market cycle, demand destruction, or company-specific issues

Profitability volatile and declining: net profit fell from ₹1.46 Cr to ₹0.82 Cr; EPS compressed from ₹0.28 to ₹0.13 despite OPM expansion to 19.11%

ROE of 2.87% is critically low; capital deployed generates minimal returns relative to equity base

Stock down 28.99% over one year with zero institutional holdings (0% FII/DII); negative market conviction and limited analyst coverage

Generated analysis · source review pending

Growth drivers

Operating margin expanded to 19.11% (Jun 2026) from 15.5% (Mar 2026); if revenue stabilizes, cost structure could support profit recovery

D/E ratio of 0.37 provides balance sheet capacity to invest in capacity or pursue consolidation if sector recovers

Consumer durables exposure to construction and housing cycles; researcher should verify current order pipeline, capacity utilization, and management's growth plans

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹28.1+0.2%1Y

Quick read

rule-based

Pros

+Profit CAGR of 16.3% over the last 3 years
+Revenue CAGR of 20.6% over the last 5 years
+Dividend yield of 3.6%
+Dividend payout of 62.6% of profit
+High promoter holding of 73.9% with no pledge

Cons

−Low return on equity of 2.3% (3-yr avg)

Research score

Structured signal from quality, growth, valuation and momentum.

45/100

Business quality: 25
Growth: 31
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Kajaria Ceramics LimitedKAJARIACERKAJARIACER	₹19,516 Cr	₹19,646 Cr	₹5,056 Cr	₹939 Cr	17.9%	₹546 Cr	10.1%	23.4%	16.7%	88
Varmora Granito LimitedVARMORAVARMORA	₹3,035 Cr	₹3,393 Cr	₹1,512 Cr	₹171 Cr	11.3%	₹55 Cr	3.6%	11.2%	7.2%	—
Somany Ceramics LimitedSOMANYCERASOMANYCERA	₹2,518 Cr	₹2,769 Cr	₹2,935 Cr	₹294 Cr	9.2%	₹106 Cr	2.7%	13.7%	10.1%	44
Nitco LimitedNITCONITCO	₹2,025 Cr	₹2,329 Cr	₹508 Cr	₹-33 Cr	4.6%	₹-29 Cr	5.3%	7.3%	9.5%	444
Asian Granito India LimitedASIANTILESASIANTILES	₹1,422 Cr	₹1,850 Cr	₹1,900 Cr	₹89 Cr	5.6%	₹13 Cr	1%	3.5%	1.4%	94
Orient Bell LimitedORIENTBELLORIENTBELL	₹586 Cr	₹616 Cr	₹752 Cr	₹51 Cr	5.7%	₹21 Cr	1.8%	5.3%	3.9%	10
Exxaro Tiles LimitedEXXAROEXXARO	₹270 Cr	₹361 Cr	₹325 Cr	₹26 Cr	8.2%	₹4 Cr	0.9%	5.2%	1%	318
Murudeshwar Ceramics LimitedMURUDCERAMURUDCERA	₹170 Cr	₹310 Cr	₹209 Cr	₹33 Cr	15.3%	₹10 Cr	5.3%	5.7%	2.9%	722
Manoj Ceramic LtdMCPLMCPL	₹99 Cr	—	₹203 Cr	₹25 Cr	12.1%	₹12 Cr	5.9%	—	—	—
Regency Ceramics LimitedREGENCERAMREGENCERAM	₹84 Cr	₹194 Cr	₹50 Cr	₹-34 Cr	-61.1%	₹-24 Cr	-62.3%	-155.1%	—	-47
Restile Ceramics LtdRESTILERESTILE	₹74 Cr	₹111 Cr	₹1 Cr	₹-1 Cr	5.7%	₹-1 Cr	-1.1%	—	—	31

Loading peers…

Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	80	123	172	186	203	205
COGS	31	34	44	44	53	47
Gross profit	50	89	128	142	150	158
	41	63	97	112	115	127
	9	25	31	30	35	31
OPM %	11.1%	20.7%	18%	16.2%	17%	15.1%
Depreciation	10	10	11	12	15	15
Interest	16	13	13	11	13	12
	1	1	1	4	5	10
Profit before tax	-16	3	9	11	14	16
Tax	-4	2	2	5	4	5
Tax %	-25.5%	48.6%	22.4%	51%	29.4%	31.6%
	-12	2	7	5	10	11
PAT margin %	-14.8%	1.4%	4%	2.8%	4.9%	5.3%
EPS (₹)	-2.5	0.4	1.1	0.9	1.6	1.8
EPS adjusted (₹)	-2.3	0.3	1.2	0.9	1.6	1.8
	—	0%	44.2%	58.1%	31.4%	—
Annual report	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	48	52	55	58	61	61	61
Reserves	287	281	285	296	305	312	320
Minority interest	0	—	—	—	—	—	—
	77	83	81	118	107	104	140
	61	56	55	69	76	93	96
Total equity & liabilities	473	472	476	541	548	570	616
	306	297	296	297	361	349	390
CWIP	2	8	6	78	10	38	24
Investments	4	4	11	10	10	10	9
	161	163	162	156	167	173	192
Total assets	473	472	476	541	548	570	616

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Sale of products	148.7	2.49	533.69	161.89	371.8	0.67
Sale of services	56.77	2.03

Loading financials…

Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	61.8%	72.3%	74.4%	76.2%	73.7%	76.9%
EBITDA margin %	11.1%	21.1%	17.9%	16.2%	17.1%	15.3%
EBIT margin %	-1.6%	12.7%	11.4%	9.7%	9.9%	8%
PAT margin %	-14.8%	1.4%	4%	2.8%	4.9%	5.3%
Working capital
Receivable days	144	66	35	32	73	91
Inventory days	1,240	1,201	975	954	744	881
Payable days	223	203	227	205	210	251
NWC days	1,161	1,064	782	780	607	722
Leverage
Current ratio	1.45	1.55	1.33	1.38	1.34	1.4
Debt to EBITDA	9.27	3.13	3.83	3.56	3.02	4.45
Debt to equity	0.25	0.24	0.33	0.29	0.28	0.37
Interest coverage	-0	1.3	1.6	2	1.9	2.1
Asset turnover	0.17	0.26	0.32	0.34	0.36	0.33
Return ratios
Return on assets %	-2.5%	0.3%	1.3%	1%	1.7%	1.8%
Return on capital employed %	-0%	4.6%	5.2%	5.3%	5.7%	5.7%
Return on equity %	-3.6%	0.5%	1.9%	1.4%	2.6%	2.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

Loading ratios…

Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	72.65%	72.65%	73.94%	73.94%	73.94%	73.94%	73.94%	73.94%	73.94%	73.94%	73.94%	73.94%
	0%	0.01%	0.02%	0%	0%	0%	0%	0.03%	0%	0.03%	0%	0%
DII	0.01%	0.01%	0.01%	0.01%	0.01%	0%	0%	0%	0%	0%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	27.34%	27.33%	26.03%	26.05%	26.05%	26.06%	26.06%	26.03%	26.06%	26.03%	26.06%	26.06%
No. of shareholders	—	—	—	—	—	—	—	—	23,260	22,891	22,422	22,274

Promoter holding up 1.29 percentage points since Sep 2023.

2 deals · 20 Oct 2023 – 20 Oct 2023

Date	Client	Type	Venue	Side	Quantity	Price	Value
20 Oct 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	2,97,550	₹61.25	₹1.82 Cr
20 Oct 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	2,97,550	₹61.18	₹1.82 Cr

1–2 of 2

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. SATISH RAMA SHETTYExecutive Director-Chairperson-MD
Narayan Manjunath HedgeChief Financial Officer
Mr. SUNIL RAMA SHETTYNon-Executive - Non Independent Director
Mr. NAVEEN RAMA SHETTYNon-Executive - Non Independent Director
Mr. KARAN SATISH SHETTYExecutive Director
Mr. RAVINDRA BHANDARYNon-Executive - Independent Director
Mr. VISHWANATH SHETTYNon-Executive - Independent Director
Mr. VITTAL KADEKAR MENAKA SHETTYNon-Executive - Independent Director
Mrs. SHAKUNTHALA SHETTYNon-Executive - Independent Director
Ashok KumarCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

Loading shareholding…

F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

Loading f&o…

Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Murudeshwar Ceramics Limited. Portfolios are published monthly by each AMC; coverage is still partial.

Loading fund holders…

Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

6

Final dividend14 Aug 2025 · ex-date₹0.5
Final dividend13 Sept 2024 · ex-date₹0.5
Final dividend14 Sept 2023 · ex-date₹0.5
Dividend dividend14 Sept 2009 · ex-date₹0.6
Dividend dividend17 Sept 2008 · ex-date₹1.2
Dividend dividend18 Sept 2007 · ex-date₹2

1

Board meeting to consider results12 Aug 2026

Loading events…

Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

8 announcementsExport CSV

18 Sept 2026, 6:26 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

18 Sept 2026, 5:07 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

18 Aug 2026, 11:37 amOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

18 Aug 2026, 11:11 amAGM/EGM

Notice Of 43Rd Annual General Meeting Scheduled To Be Held On Friday, 18Th September, 2026 At 3:00 P.M. For The Financial Year Ended 31St March, 2026.

AGM PDF

13 Aug 2026, 6:24 pmCorp. Action

Intimation For The Closure Of Share Transfer Books And Register Of Members, "Cut-Off Date" For The Purpose Of The 43Rd Annual General Meeting (AGM) For The Financial Year 2025-26.

Book Closure PDF

13 Aug 2026, 6:12 pmCompany Update

Intimation For The 43Rd Annual General Meeting (AGM) Scheduled To Be Held On Friday, 18Th September, 2026 At 3:00 P.M. At Hotel Naveen, Unkal Lake, Hubballi-Dharwad Highway, Bairidevarkoppa, Hubballi-580025, Karnataka

General PDF

1 Aug 2026, 12:16 pmBoard Meeting

Board Meeting Intimation for Notice Of The Board Meeting Scheduled To Be Held On Wednesday, August 12, 2026.

Exchange filing PDF

9 Jul 2026, 1:21 pmCompany Update

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 PDF

Date	Category	Subject	Filing
18 Sept 2026, 6:26 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
18 Sept 2026, 5:07 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM

Loading announcements…

Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	61.8%	72.3%	74.4%	76.2%	73.7%	76.9%
EBITDA margin %	11.1%	21.1%	17.9%	16.2%	17.1%	15.3%
EBIT margin %	-1.6%	12.7%	11.4%	9.7%	9.9%	8%
PAT margin %	-14.8%	1.4%	4%	2.8%	4.9%	5.3%
Working capital
Receivable days	144	66	35	32	73	91
Inventory days	1,240	1,201	975	954	744	881
Payable days	223	203	227	205	210	251
NWC days	1,161	1,064	782	780	607	722
Leverage
Current ratio	1.45	1.55	1.33	1.38	1.34	1.4
Debt to EBITDA	9.27	3.13	3.83	3.56	3.02	4.45
Debt to equity	0.25	0.24	0.33	0.29	0.28	0.37
Interest coverage	-0	1.3	1.6	2	1.9	2.1
Asset turnover	0.17	0.26	0.32	0.34	0.36	0.33
Return ratios
Return on assets %	-2.5%	0.3%	1.3%	1%	1.7%	1.8%
Return on capital employed %	-0%	4.6%	5.2%	5.3%	5.7%	5.7%
Return on equity %	-3.6%	0.5%	1.9%	1.4%	2.6%	2.8%

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	0	24	43	31	29	21
	-6	-14	-82	-5	-24	-41
	5	-8	35	-13	-16	23
Net cash flow	0	3	-4	13	-12	4
Free cash flow	-8	15	-40	21	-1	-21
CFO / Operating profit %	5.5%	91.8%	138.4%	102.9%	82.9%	67.7%

Murudeshwar Ceramics Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

6

1

Announcements

6

1

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Sale of Products · revenue

Murudeshwar Ceramics Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Dividends6

Board meetings1

Announcements

Dividends6

Board meetings1

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Sale of Products · revenue

6

1

6

1