Kajaria Ceramics exits from plywood business due to continued losses

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Kajaria Ceramics exits from plywood business due to continued losses - Business Standard

Quick Summary:

The board of the company on Tuesday "approved to discontinue the operations of Kajaria Plywood, wholly owned subsidiary due to lack of strategic fit & continued losses", Kajaria Ceramics informed the bourses.

The company has fully impaired its investment and loan to Kajaria Plywood, amounting to Rs 112.38 crore, and expects to close the plywood business by June 30, 2025.

Kajaria Ceramics, a leading manufacturer of ceramic and vitrified tiles, said it has exited its loss-making plywood business.