Kajaria Ceramics (500233) Q4 25/26 earnings summary

Executive summary

• Achieved 11% volume growth and 12% revenue growth in Q4 FY26, driven by sales unification, inventory realignment, and improved demand from January 2026.

• EBITDA margin improved to 19.19% in Q4 FY26, reflecting cost optimization and better sales realization.

• Buyback of up to 21.5 lakh equity shares (1.35% of paid-up capital) at ₹1,380 per share, aggregating up to ₹296.70 crore, was approved, reflecting strong financial position and confidence in long-term fundamentals.

• Consolidated net profit for FY26 stood at ₹487.00 crore, compared to ₹300.02 crore in FY25.

• The Board recommended a final dividend of ₹6 per share, with a total dividend of ₹14 per share for FY26 (previous year: ₹9 per share).

Financial highlights

• Q4 FY26 consolidated revenue: ₹1,373.35 crore, up 12% year-over-year; FY26 revenue: ₹4,832.50 crore, up 3%.

• Q4 FY26 EBITDA: ₹263.52 crore (up 44%); EBITDA margin: 19.19% (vs. 10.01% in Q4 FY25).

• Q4 FY26 PAT: ₹155.75 crore, up 266% year-over-year; FY26 PAT: ₹485.41 crore, up 65%.

• Consolidated EBITDA for FY26 was ₹695.61 crore, up from ₹460.78 crore in FY25.

• Earnings per share (EPS) for FY26 was ₹30.67 (consolidated), up from ₹21.51 in FY25.

Outlook and guidance

• Management expects strong momentum to continue into FY27, with positive growth anticipated and ongoing efficiency improvements.

• Expansion of the Srikalahasti facility in Andhra Pradesh approved, with an investment of ₹210 crore for 10 MSM capacity of Glazed Vitrified Tiles.

• No specific volume or revenue guidance provided, but margin expected to remain between 18%-19%.

• Q1 is seasonally weaker, but full-year performance is expected to be much better.