Kajaria Ceramics

“And going forward also, we are very positively looking at a double-digit volume growth in the coming 6 months in the future also.”

“we definitely expect the volume growth to continue double digits over the next 2 quarters also in the last part of the financial year.”

“I would say we expect margins to remain stable going forward also, around the same numbers what we have given in the quarter. And any extra benefit we might get, we would like to pass on to the market to gain more volume share.”

“Also, the volume growth will remain in double digit, but the value will be -- will not be much higher than what it was this year because there was some inflation in this year, which will not be there in the next year.”

“And we are putting up both of our brownfield expansions in our North and our South plant. So with these two expansions, we feel that we can further penetrate the market. and we further have a gas advantage here as compared to Morbi.”

“And these expansions are -- the cost of production in these expansions will be much cheaper than our existing because of higher capacity.”

“It's the first time in the history of Kajaria where we're talking about a volume of 11 million square meter and 12.5 million square meter.”

“Much lower. Only the machinery cost will be there. The shed is already made, the back end is already made, the warehouse is already made.”

“And going forward, this expansion and many more expansions will come because it's a freight oriented thing.”

“In the same shed, we can double our capacity. So, from 12.5 million square meter, we will be able to produce 25 million square meter in the future.”

“We don't have any capacity expansion right now. So whatever got produced this quarter will be produced in this -- the other quarter as well. All our plants are running at optimum capacity, more than its production capacity.”

“We basically want to focus on the size of four by two, which is the most prevalent size which is sold in the market. That is why we are going for higher expansions, higher capacity.”

“Tiles segment revenue grew by 23% year-to-year at INR1,291 crores in quarter 2 F '27 compared to INR1,051 crores in quarter 2 F '26.”

“Bathware segment registered a 22% growth in revenue, reaching INR124 crores in quarter 2 F '27 compared to INR102 crores in quarter 2 F '26.”

“Revenue from Adhesives grew 69% to INR54 crores in quarter 2 F '27 as compared to INR32 crores in quarter 2 F '26.”

“It would be a combination of about 50% would be price hike and 50% would be volume-led.”

“but we are very confident about our two segments, which are Bathware and adhesives, they will give you much more improvement as compared to tile in terms of value and will add to the revenue growth next year and going forward.”

“In quarter 2 F '27, we achieved 10% year-to-year volume growth led by better demand and gaining market share.”

“No, as you -- as the unification is trending, our volume is also increasing.”

“And the total market size is INR2,500 crores. So going forward, then the capacity utilization will be better as we keep on moving ahead. Now with the stable government coming in, things are looking much more positive and better.”

“The pricing is not stable but there are very limited players in Nepal. The fluctuation is not that high. So it's a stable pricing structure out there.”

“So this year, the Morbi exports are down, should be roughly around INR12,000 crores for the whole financial year because of the rising container cost.”

“EBITDA improved in quarter 2 F '27 to 19.51% as compared to 17.94% in quarter 2 F '26.”

“So, we went for more for volumes this quarter, and there might be a very minor chip in the realization, but nothing major to talk about.”

“Basically, in our North and South plants, we increased the prices are roughly 12% to 13% and it was across all product categories, be it ceramics, be it PVT, be it GVT.”

“And the Morbi price increase was commensurate with the price increase at the Morbi level, which is 18% to 19% across all product verticals.”

“It's more or less same. There's not much difference.”

“As of 30th September '26, capital cycle marginally increased by 2 days to 48 days compared to 46 days in quarter 1 F '27 because of high turnover.”

“We are trying to maximize our return on treasury. We have earlier given to Bajaj and PNB Housing Finance. So, we have given to other NBFCs and we'll continue to do so that, but the safety will be the priority.”

“That has been for many quarters because some of the JVs are having bank limits from the bank.”

“But every quarter, you will see some improvement in Nepal. But even if it is so, it will be a small portion of the total profitability.”

“It was roughly around INR200 crores, the total investment, including the JV stake.”

“Yes, we intend not to take any salaries right now.”

“However, export demand in the first half of '27 remains subdued, mainly due to elevated freight rates and limited container availability continuing to pose challenges for manufacturers in margin.”

“Looking at the trend, the gas prices are not going to come down, like we just got the news that the propane prices have increased in Morbi yesterday.”

“But going forward, gas position is very tight because of this America-Iran war.”

“You're right, there was a little reduction, but the prices again going to go back -- going to increase on quarter 3.”

“But looking at the current scenario of Brent, which is about $116 as of now, the propane prices will further go up in the next 15 days. So it will more or less be a line with gas prices.”

“Our consolidated revenue grew by 24% year-to-year to INR1,468 crores supported by healthy volume and the market's positive response to price hikes.”

“PBT for the quarter grew to INR254 crores as compared to INR181 crores in quarter 2 of F '26.”

“PAT for the quarter grew to INR190 crores in quarter 2 F '27 as compared to INR133 crores in quarter”

“No. We run it by coal gas.”

“We have about 1,800 dealers all over India. Out Of that, about 450 are exclusive that only sell Kajaria and rest are they sell other brands as well.”