India · Delayed Price · Currency is INR Kajaria Ceramics Earnings Call Transcripts
Fiscal Year 2026
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Q4 FY26 saw 12% revenue and 11% volume growth, with EBITDA margin rising to 19.19% due to cost optimization and price hikes. Morbi supply disruptions and higher gas prices benefited organized players, while a share buyback and leadership hires signal confidence for FY27.
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Revenue remained flat YoY at INR 1,168 crore, but EBITDA margin improved to 17.2% and PAT rose 13% YoY. Bathware and adhesives segments showed strong growth, while cost optimization and SKU rationalization continued. Margins are expected to remain stable, with positive demand outlook ahead.
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Revenue grew 1% YoY to INR 1,186 crore in Q2 FY26, with EBITDA margin rising to 17.94%. Cost optimization, restructuring, and leadership changes are driving operational efficiency, while management anticipates volume growth and higher ad spend in H2.
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Revenue declined 1% year-over-year to INR 1,104 crore amid muted demand, but EBITDA margin improved to 16.72% due to cost optimization and division unification. The company expects better domestic and export markets ahead, with no major CapEx planned and a focus on efficiency and profitability.
Fiscal Year 2025
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Q4 FY25 revenue declined 1% YoY to INR 1,227 crore, with 2% tile volume growth and 10% EBITDA margin. Plywood division closure and UK losses impacted margins, but working capital improved. Management expects to outperform industry growth, with exports set to recover and CapEx focused on maintenance.<docu
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Q3 FY2025 saw 6.7% tile volume growth and 1% revenue rise, but PAT fell 25% due to weak realizations and bathroom division losses. Management expects 8-9% volume growth for the year, with margin improvement as demand and retail sales recover.
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Q2 FY25 saw 8.5% tile volume growth and 5% revenue growth, but PAT fell 22% due to margin pressure from new units. Full-year volume growth is guided at 9-10% with margins at the lower end of 15-17%, and H2 is expected to be stronger as new plants stabilize.
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Q1 FY25 saw 7.8% volume growth and 5% revenue growth, with EBITDA margin at 15.01%. Management guides for 11-12% volume growth and 8-9% revenue growth for FY25, supported by new capacity, digital initiatives, and stable input costs.