MURUDCERAConsumer Discretionary

Murudeshwar Ceramics Limited

Ceramics · ISIN INE692B01014 · BSE 515037 · NSE EQ · FV ₹10
Last price
₹29
+0.17%today
What this company does

Murudeshwar Ceramics Limited operates in Ceramics, part of the Consumer Discretionary sector. It booked ₹50 cr of revenue in its latest quarter (Q1 FY27) and kept 1.6% of sales as profit. It is the 7th largest of 8 Ceramics companies we track, by market value.

Murudeshwar Ceramics Limited is the pioneer in manufacturing world class Vitrified tiles and Ceramic tiles under the brand name “NAVEEN”. The cornerstone of our corporate journey of Thirty years has been "In Leadership through Quality".
In the report:
49out of 100
Equitytale Health Score
Mixed

Healthier than 49% of companies in Consumer Discretionary, on all six measures of filed financials. Each measure is ranked against the 187–421 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
35

At close. Not part of the score.

Profitability & returns26

How much profit it earns on the money it employs

Balance sheet39

How much it owes, and whether earnings cover the interest

Cash quality53

Whether reported profit actually arrives as cash

Growth & consistency69

Whether sales and profit have grown, and how steadily

Valuation46

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 9% vs last year
Promoters hold 74%
No promoter shares pledged
Turns profit into real cash
Watch-outs
! Thin 1.6% net margin
! Profit down 58% vs last year
! Low 0.9% return on equity

What if I invest in MURUDCERA?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹29 +0.17%
latest close · 2026-09-17
1-year return
+13.9%
52-wk low ₹2052-wk high ₹36
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio55.1High
LowAverageHigh
P/B ratio0.46Below book
Below bookModerateHigh
EV / EBITDA8.1Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity0.9%Weak
WeakFairStrong ▸15%
Return on capital4.8%Weak
WeakFairStrong
Net margin1.6%Thin
ThinDecentStrong
EBITDA margin19.2%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.37Comfortable
LowModerateHigh ▸1
Interest cover1.7×Risky
RiskyOkayStrong ▸5×
Current ratio1.40Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹173 cr
Book value
₹63
EPS
₹0.13
latest quarter
Net debt
₹139 cr
owes more than its cash
Enterprise value
₹312 cr
EBITDA
₹39 cr
annualised
EBIT
₹23 cr
annualised
Operating margin
11.5%
Return on assets
0.5%
Earnings yield
1.82%
P/S
0.87
Sales / share
₹33.1
Tax rate
65.8%
Face value
₹10
Shares
6.1 cr
Working capital
₹54 cr
Current assets
₹190 cr
Current liabilities
₹136 cr
Delivery %
82.9%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
It earns about 5% on its capital — below the ~14% return we'd require to fund it — so a low price is likely justified, not a bargain.
Models span ₹32₹40, midpoint ₹36

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹50 cr
Other Income₹6.4 L
Total Income₹50 cr
Cost of Materials₹10 cr
Purchases of Stock-in-Trade₹3 cr
Inventory Change (±)₹28.8 L
Employee Benefit Expense₹8 cr
Finance Costs₹3 cr
Depreciation & Amortisation₹4 cr
Other Expenses₹20 cr
Total Expenses₹48 cr
Profit before Tax₹2 cr
Tax Expense₹2 cr
Share of JV / Associates₹-0.7 L
Net Profit₹80.9 L
Net margin on total income1.6%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹13 cr25.4%
Employee benefit expense₹8 cr15.3%
Finance costs₹3 cr6.8%
Depreciation & amortisation₹4 cr7.7%
Other expenses₹20 cr40.1%
Tax expense₹2 cr3.1%
Profit for the period₹80.9 L1.6%
Total income ₹50 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue51 cr63 cr50 cr
Total income55 cr66 cr50 cr
Expenses50 cr62 cr48 cr
Profit before tax5 cr4 cr2 cr
Tax0 cr3 cr2 cr
Net profit (owners' share)4 cr2 cr80.9 L
Net margin (owners' share, on revenue)8.0%2.5%1.6%
EPS (₹)0.680.280.13
YoY (latest quarter): total income +8.4% · net profit -58.1%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹616 cr
Shareholder equity
₹380 cr
parent shareholders
Total debt
₹140 cr
Cash
₹2 cr
Cash flow · H1 FY26
Operating
₹9 cr
Investing
₹-19 cr
Financing
₹15 cr
Peer comparison
Ceramics · by market value
CompanyPriceMarket capP/E
Kajaria Ceramics Limited₹1,217₹19,390 cr28.6
Somany Ceramics Limited₹566₹2,320 cr16.3
Nitco Limited₹86₹2,067 cr
Asian Granito India Limited₹50₹1,481 cr46.3
Orient Bell Limited₹387₹569 cr17.1
Exxaro Tiles Limited₹6₹280 cr31.3
Murudeshwar Ceramics Limitedthis company₹29₹173 cr55.1
Regency Ceramics Limited₹35₹93 cr
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
trailing 12 months
Dividend / share (TTM)
Last dividend
₹0.5
ex 14 Aug 2025
ActionDetailEx-date
Dividend₹0.5 / share14 Aug 2025
Dividend₹0.5 / share13 Sep 2024
Dividend₹0.5 / share14 Sep 2023
Who owns it · 2026-06-30
No pledge
Promoter
73.9%
FII / Foreign
0.0%
DII / Domestic
0.0%
Retail / others
26.1%
Promoter stake up 1.3% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtMURUDESHWAR POWER CORPORATION LIMITED · Promoters23.70 L · ₹7.8 cr30 May 18
BoughtMURUDESHWAR POWER CORPORATION LIMITED · Promoter Group22.50 L · ₹7.4 cr31 Jul 17
BoughtMURUDESHWAR POWER CORPORATION LIMITED · Promoter Group21.40 L · ₹7.1 cr24 Mar 17
Bulk / block deals
BoughtGRAVITON RESEARCH CAPITAL LLP · NSE2.98 L @ ₹61.1820 Oct 23
SoldGRAVITON RESEARCH CAPITAL LLP · NSE2.98 L @ ₹61.2520 Oct 23
SoldVAISHALI PRAGNESH PANDYA · NSE7.75 L @ ₹25.143 Mar 15
Stake changes
BoughtMurudeshwar Power Corporation Private Ltd · promoter→ 40.15% · 21.38 L14 Feb 24
BoughtRNS Infrastructure Limited · promoter→ 22.27% · 7.13 L14 Feb 24
BoughtMurudeshwar Power Corporation Private Limited · promoter→ 33.26% · 26.17 L12 Feb 22
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 25 Aug 2025
See the official result
1
To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the financial year ended March 31, 2025, together with the Reports of the Board of Directors and the Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
5.00 L votes for, 1,330 against
2
To appoint a director in place of Shri Naveen Rama Shetty (DIN 00058779), who retires by rotation and being eligible, offers himself for reappointment.
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 50%
5.00 L votes for, 1,330 against
3
To declare a dividend on equity shares for the financial year ended March 31, 2025.
Backed by 100% of shareholders other than promotersneeded 50%
5.00 L votes for, 1,330 against
4
To appoint CS Shivappa Athani (M. No. 67536 and COP: 25196) as the Secretarial Auditor of the Company for a period of five consecutive years from the FY 2025-26 to 2029-30.
Backed by 100% of shareholders other than promotersneeded 50%
5.00 L votes for, 1,326 against

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 33 named members
owning 74.0% between them · as of 2026-06-30
MURUDESHWAR POWER CORPORATION PRIVATE LIMITED38.26%
RNS INFRASTRUCTURE LIMITED21.23%
SATISH RAMA SHETTY3.82%
NAVEEN MECHANISED CONSTRUCTION COMPANY PRIVATE LIMITED3.56%
NAVEEN RAMA SHETTY1.05%
SUNIL R SHETTY1.05%
GEETA SANDIP MALLI1.03%
MAMTHA SUDESH HEGDE1.03%
Business done with them
FY2025 · 3 of the group
The company paid ₹4 cr to companies in the promoter group last year — about 2.1% of its ₹203 cr revenue and received ₹84 cr back from them.
RNS INFRASTRUCTURE LIMITED
Provided services to them · Sales of Products/Services
also owns 21.23% of the company
₹75 cr
company received
RNS INFRASTRUCTURE LIMITED
Other income from them · Sales of Products/Services
also owns 21.23% of the company
₹5 cr
company received
RNS INFRASTRUCTURE LIMITED
Sold goods to them · Sales of Products/Services
also owns 21.23% of the company
₹5 cr
company received
RNS INFRASTRUCTURE LIMITED
Bought goods from them · Sales of Products/Services
also owns 21.23% of the company
₹4 cr
company paid
KARAN SATISH SHETTY
Paid them for services · Remuneration
also owns 0.02% of the company
₹39 L
company paid
MURUDESHWAR POWER CORPORATION PRIVATE LIMITED
Other income from them · Dividend Received, Earth Work Receipt
also owns 38.26% of the company
₹29.8 L
company received

The company also transacted with 9 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.