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Revenue
₹1,373 Cr
verified against source
Revenue YoY
12%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Kajaria Ceramics delivered a strong Q4 FY26 with 12% revenue growth to ₹1,373 crore and PAT surging 216% to ₹136 crore, driven by 11% volume growth and 918 bps EBITDA margin expansion to 19.19%. The volume recovery followed a nine-month channel realignment, with momentum building from January. The Morbi gas crisis created a structural tailwind: Morbi plants faced 35-40% cost increases, while Kajaria's multi-location plants and 30% biofuel mix in the north provide a cost advantage. Management guided for 18-19% EBITDA margins going forward but declined volume guidance. Key risks include potential supply disruption from Morbi outsourcing partners and volatile gas prices. Overall, the company is well-positioned to gain market share in FY27.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects to sustain EBITDA margins between 18% and 19% in the current year, supported by cost optimization and price hikes.
- Planned ad spend for FY27 will be 40-50% higher than FY26's ~₹90-100 crore, with a new TVC campaign across regional channels.
- Promoters have decided not to take salary for the current year, continuing the previous year's decision.
Risks flagged
- Many Morbi plants remain shut; outsourcing volumes may be impacted in Q1 FY27 until Morbi production normalizes.
- Gas prices have risen sharply (north from ₹55 to ₹62.5/scm) and remain unpredictable due to government allocation changes.
- Price increases of 12-17% may temper demand, though management sees no immediate impact on construction activity.
Key quotes
- We are confident that with the current scenario we should be maintaining between 18 to 19%.
- For the first time in last 5 years the gas prices are going up like this.
- We have decided not to give any volume guidance... we will perform as we move along in a positive manner.
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