Manoj Ceramic (544073)

Score breakdown: P/E: 3/3 · ROCE: 1/2 · Growth: 2/2 · Dividend: 0/1

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I cannot say I love the ceramics business—it is competitive, capital-intensive and tied to the construction cycle. But I can say I love buying good growth at a reasonable price. This small-cap trades at ₹116.60 with market cap ₹102 Cr and P/E 8.75. Profit growth is 34.88% on sales growth of 23.28%, so margins are improving. A PEG of 0.30 is exceptionally cheap if that growth persists. ROCE of 17.73% is respectable; it tells me existing capital is earning a decent return. The Piotroski score of 7 out of 9 strengthens my confidence in financial health. There is no dividend, so my return depends entirely on earnings growth and eventual market recognition. That is acceptable in a fast grower if management reinvests wisely. The absence of book value, debt-equity and promoter holding data is troubling. I cannot fully assess balance-sheet leverage or insider alignment. Also, the latest quarter shows net profit of ₹6 Cr on sales of ₹81 Cr—if that were the run-rate, the stock would be even cheaper, but I must be cautious: ceramic demand is cyclical and one quarter proves nothing. I need evidence of volume growth, pricing power, and repeat orders. A 52-week range of ₹60 to ₹132.90 shows volatility. I would not marry this business, but I would court it at the right price. If growth continues and management keeps capital allocation sensible, the low P/E and high growth give a margin of safety. In Graham's language, this is a bargain only if the earnings power is durable. The price gives me a margin; the fundamentals must earn my conviction.

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Data from BSE/NSE filings. AI analysis is for educational purposes only — not investment advice. Scoring methodology · Disclaimer