FY26 AUM growth of 20-22%
Management expects full-year AUM growth between 20% and 22%, with H2 stronger than H1.
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FY26 ROA of 2.8%+
Return on assets guided to be 2.8% or higher for the full year, improving from 2.6% in Q2.
Credit cost range of 2.6-2.8% for H2 FY26
Credit cost expected to remain stable between 2.6% and 2.8% in the second half of the fiscal year.
Opex ratio to remain at 3.7-3.8%
Operating expense ratio guided to stay in the range of 3.7% to 3.8% for the full year.
Consolidated sales growth guidance maintained at 5.5-6.5%
Management maintained the earlier guidance of 5.5% to 6.5% consolidated sales growth for FY26.
Ceramics consolidated sales growth revised to 13-14% from 16-18%
Ceramics sales growth guidance was marginally reduced from 16-18% to 13-14% for FY26.
Abrasives PBIT margin guidance revised to 4-4.5% from 6-6.5%
Abrasives PBIT margin guidance was lowered to 4-4.5% for FY26 from the earlier 6-6.5%.
Capex guidance maintained at ₹350 crore for FY26
Management maintained the full-year capex guidance of ₹350 crore, with ₹248 crore already spent in 9 months.
Consolidated revenue growth 4-4.5% in FY27; 11-12% excluding closed subsidiaries
Management expects consolidated sales growth of 4-4.5% in FY27, but excluding revenue from Fascor and AUO (₹343 crore in FY26), comparable growth would be 11-12%.
Ceramic segment growth 15-15.5% in FY27
Consolidated ceramic sales are expected to grow 15-15.5% in FY27, driven by strong backlog and customer demand.
Consolidated abrasive margin improvement to 9.5-10%
Abrasive segment PBIT margin is expected to improve to 9.5-10% in FY27, from 4.3% reported in FY26 (7.9% excluding AUO losses).
Capex of ₹400 crore in FY27
The company plans to spend approximately ₹400 crore on capex in FY27, focusing on advanced ceramics, furnace upgrades, and new product facilities.