Kajaria Ceramics Exits Plywood Business After Continued Losses

Kajaria Ceramics, a leading ceramic tile manufacturer, has announced its decision to exit the plywood business, citing persistent losses and a lack of strategic fit.

The company's board approved the discontinuation of operations for Kajaria Plywood, a wholly-owned subsidiary, due to ongoing financial challenges. The closure is expected by June 30, 2025, with full impairment of investments and loans amounting to Rs 112.38 crore.

In its latest financial results, Kajaria Ceramics reported a 58.6% drop in consolidated profit for the March quarter, largely due to settlements related to the plywood division. Despite a slight increase in revenue, the company faced challenges including muted demand and increased expenses.

(With inputs from agencies.)