Manoj Ceramic

BSE: MCPL · Ceramics

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Snapshot

Unlock Manoj Ceramic's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Manoj Ceramic Limited is an Indian company engaged in the trade and distribution of ceramic tiles, including vitrified, wall, and floor tiles. It also provides tile fixing solutions and adhesives to both retail customers and large-scale real estate projects.

Business Model

The company operates as an intermediary, sourcing products from third-party manufacturers in Morbi, Gujarat, and distributing them through a network of dealers and company-owned showrooms. Revenue is generated by leveraging its supply chain to provide comprehensive building material solutions to the construction industry.

Management Commentary

Management is focused on leveraging the company's established brand reputation and supply chain relationships to scale operations into new geographic territories following its recent listing on the BSE SME platform.

Growth Outlook

The company aims to expand its market presence across new geographic regions by capitalising on its diverse product range and strong distribution network. Future growth is expected to be driven by the continued demand for building materials in the Indian real estate sector.

Key Risks

  • Supply Chain Dependency. The company relies heavily on third-party manufacturers in Morbi, making it vulnerable to supply disruptions or price volatility in the ceramic hub.
  • Real Estate Cyclicality. As a supplier to the construction industry, the company's performance is closely tied to the cyclical nature and health of the Indian real estate market.
  • Competitive Pressure. The ceramic trading sector is highly fragmented and competitive, which may impact profit margins and market share.

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Peers · Ceramics

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Manoj CeramicMCPL
₹133 Cr12.0%-14.5%
Kajaria Ceramics Ltd.KAJARIACER
₹19,360 Cr35.4619.538.3%19.7%18.9%24.4%+0.5%
Somany CeramicsSOMANYCERA
₹2,315 Cr21.777.949.3%10.5%12.5%16.4%+23.4%
NitcoNITCO
₹2,299 Cr-76.47-117.1728.8%-4.3%-9.5%-3.2%-16.0%
Asian Granito India LimitedASIANTILES
₹1,420 Cr63.0017.8418.5%5.3%0.7%2.7%-18.5%
Orient BellORIENTBELL
₹558 Cr26.3710.5913.2%7.2%6.5%8.1%+28.3%

As of Mar 2026

Financials