Kajaria Ceramics Q1 FY27 Revenue Jumps 20% to ₹1,328 Crore on Price Hikes
Kajaria Ceramics reported Q1 FY27 consolidated revenue of ₹1,328 crore, up 20% YoY, driven by price increases. Volume grew 6%. EBITDA margin was 19.60%. The company announced capacity expansions and expects double-digit volume growth for the next nine months. Full-year EBITDA is projected to exceed ₹1,000 crore.
The significant revenue growth, improved profitability, strategic capacity expansions, and strong forward-looking guidance are likely to have a substantial positive impact on investor sentiment and the company's market position.
The company reported strong revenue growth, improved margins, and provided positive guidance for future volume growth and EBITDA, indicating a favorable financial performance and outlook.
Kajaria Ceramics Limited reported a significant 20% year-on-year growth in consolidated revenue for Q1 FY27, reaching ₹1,328 crore. This increase was primarily driven by a rise in selling prices attributed to fuel cost impacts. The company achieved a 6% volume growth despite a soft April, validating its optimistic outlook for FY27.
EBITDA margins for the quarter stood at a healthy 19.60%. The company announced a brownfield expansion of 10 million square meters at its Srikalahasti facility and an additional 11 million square meters line at its Gailpur, Rajasthan facility, aimed at cost-effective, high-quality production.
Key business verticals are showing strong performance. Kerovit, the bathware brand, is scaling effectively, with the company acquiring the remaining 15% stake to solidify its market position. The Adhesives business is also poised for rapid growth, benefiting from a narrowing price differential between branded and informal products.
Segment-wise, the Tiles segment revenue grew 18% to ₹1,162 crore, while the Bathware segment saw a 33% revenue increase to ₹122 crore. The Adhesives business revenue grew to ₹45 crore from ₹25 crore in the prior year's comparable quarter.
Profit Before Tax (PBT) grew to ₹230 crore from ₹149 crore in Q1 FY26, and Profit After Tax (PAT) rose to ₹169 crore from ₹109 crore. The working capital cycle improved by 5 days to 46 days as of June 30, 2026.
The company is confident of achieving double-digit volume growth for the next nine months and expects EBITDA margins of 18% to 19% for the full year, with a target of over ₹1,000 crore EBITDA. Capex for the current year is projected at approximately ₹400 crore, including maintenance capex.
Management highlighted that pricing is not uniform across geographies and varies based on regional fuel costs. The price gap between Kajaria and Morbi-based players has narrowed significantly, from 40% to below 20%. The company is focusing on strengthening its distribution network and increasing its presence in projects to drive growth. Exports contribute less than 1% of the total turnover, with the company prioritizing the Indian market.
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