KAJARIACERAMICS / bear-case history

Track the concerns that keep returning.

Kajaria Ceramics · risk themes across the available quarters.

Research layer active

Bear-case history

Risks carried through the record.

Morbi outsourcing disruption

Many Morbi plants remain shut; outsourcing volumes may be impacted in Q1 FY27 until Morbi production normalizes.

medium

Volatile gas prices

Gas prices have risen sharply (north from ₹55 to ₹62.5/scm) and remain unpredictable due to government allocation changes.

high

Demand impact from price hikes

Price increases of 12-17% may temper demand, though management sees no immediate impact on construction activity.

low