Kajaria Ceramics Q4 FY26: Revenue Rises 12% to ₹1,373 Cr, Board Approves Buyback

Kajaria Ceramics has released its audited financial results for Q4 FY26, showcasing robust quarterly performance with consolidated revenue growing 12% year-on-year to ₹1,373.35 crore compared to ₹1,226.57 crore in Q4 FY25. The ceramic tiles manufacturer demonstrated strong operational efficiency with EBITDA margin expanding significantly to 19.19% from 10.01% in the corresponding quarter last year. The Board of Directors, in their meeting held on April 30, 2026, approved the audited financial results for the quarter and year ended March 31, 2026, with statutory auditors M/s Walker Chandiock & Co LLP issuing an unmodified opinion on the results.

Strong Financial Performance

The company's Q4 FY26 financial metrics reflect substantial improvement across key parameters:

Financial Metric Q4 FY26 (₹ Cr) Q4 FY25 (₹ Cr) Growth Consolidated Revenue 1,373.35 1,226.57 12% Consolidated EBITDA 263.52 122.81 115% EBITDA Margin 19.19% 10.01% Expansion Consolidated PAT 155.75 42.53 266% Standalone Revenue 1,234.91 1,104.93 12% Standalone PAT 143.35 (54.88) Strong Recovery

For the full year FY26, consolidated revenue reached ₹4,830.36 crore, representing a 4% increase from ₹4,635.07 crore in FY25. Consolidated profit after tax for FY26 stood at ₹487.00 crore compared to ₹300.02 crore in the previous year.

Volume Growth and Operational Metrics

The company achieved an 11% volume growth in Q4 FY26 with total sales reaching 33.51 MSM compared to 30.11 MSM in Q4 FY25. This growth was driven by improved demand momentum since January 2026, following strategic unification of sales efforts during the first nine months of the fiscal year.

Volume Data (MSM) Q4 FY26 Q4 FY25 Growth Own Manufacturing Sales 16.99 15.80 Growth Subsidiaries Sales 7.25 6.46 Growth Outsource Sales 9.27 7.85 Growth Total Sales Volume 33.51 30.11 11%

Capacity Expansion Plans

The Board approved expansion of the Srikalahasti manufacturing facility in Andhra Pradesh with an investment of ₹210 crore to add 10 MSM capacity of Glazed Vitrified Tiles. The expansion is expected to be completed by March 2027 and will be financed through internal accruals to cater to the growing southern market. The existing facility currently operates at 100% capacity utilization.

Strategic Initiatives and Corporate Actions

The Board announced several key strategic initiatives. A final dividend of ₹6 per equity share of face value ₹1 each has been recommended for FY26, subject to shareholder approval. During the year, the company paid an interim dividend of ₹8 per share, making the total dividend ₹14 per share compared to ₹9 per share in the previous year.

The Board also approved a share buyback proposal of up to 21.50 lakh equity shares, representing 1.35% of total paid-up capital, at ₹1,380 per share for an aggregate amount not exceeding ₹296.70 crore. The buyback offer price represents a premium of 15.57% and 15.73% over the closing price on NSE and BSE respectively on April 21, 2026. The buyback is subject to shareholder approval through postal ballot.

Additionally, the Board approved investments up to ₹45 crore in Kerovit Global Private Limited through subscription to non-convertible redeemable preference shares, and the proposed acquisition of 44,11,764 compulsorily convertible preference shares of Kajaria Bathware Private Limited for ₹50 crore.

Strong Balance Sheet Position

The company maintains a robust financial position with net debt of ₹-793 crore as of March 2026, indicating a net cash position. The debt-to-equity ratio stands at -0.25x, reflecting strong balance sheet health. Return on equity improved to 16.71% while return on capital employed reached 23.87%.

Financial Ratios Mar-26 Mar-25 Net Debt (₹ Cr) -793 -424 Net Debt/Equity (X) -0.25 -0.15 ROE (%) 16.71 10.98 ROCE (%) 23.87 16.28

The company's total tile manufacturing capacity stands at 87.80 MSM across nine plants located in Uttar Pradesh, Rajasthan, Gujarat, Andhra Pradesh, Telangana, and Nepal. With strong quarterly performance, strategic expansion plans, and shareholder-friendly initiatives, Kajaria Ceramics continues to strengthen its position as India's largest ceramic tiles manufacturer.

Kajaria Ceramics Limited announced significant expansion plans and a share buyback proposal following its Board meeting held on April 30. The company approved major capacity expansion at its Srikalahasti facility in Andhra Pradesh, along with a substantial buyback program, demonstrating strong confidence in its growth trajectory and commitment to shareholder value creation.

Manufacturing Facility Expansion

The Board approved expansion of the manufacturing facility at Srikalahasti, Andhra Pradesh, by increasing annual production capacity by 10 MSM of glazed vitrified tiles. The expansion requires an investment of ₹210.00 crores and is expected to be completed by March 2027. The project will be financed through internal accruals and aims to cater to the growing southern market in India.

Parameter: Details Investment Amount: ₹210.00 crores Capacity Addition: 10 MSM Glazed Vitrified Tiles per annum Completion Timeline: March 2027 Financing Mode: Internal accruals Rationale: To cater growing southern market in India

Share Buyback Proposal

The Board approved a proposal to buy back fully paid-up equity shares not exceeding 21.50 lakh shares, representing 1.35% of the total paid-up capital as of March 31. The buyback will be conducted through the tender offer route at a price of ₹1,380.00 per equity share, for an aggregate amount not exceeding ₹296.70 crores. The promoters and promoter group have indicated they will not participate in the buyback.

Parameter: Details Buyback Amount: ₹296.70 crores Buyback Price: ₹1,380.00 per share Shares to be bought back: Up to 21.50 lakh shares Percentage of paid-up capital: 1.35% Method: Tender offer route

Strategic Investments

Additionally, the Board approved subscription of 4,50,00,000 non-convertible redeemable preference shares of ₹10.00 each in Kerovit Global Private Limited, a step-down wholly-owned subsidiary, for an aggregate consideration of up to ₹45.00 crores. The company also approved acquisition of 44,11,764 compulsorily convertible preference shares of ₹10.00 each in Kajaria Bathware Private Limited at a total consideration of ₹50.00 crores.

Investment: Amount Details Kerovit Global Preference Shares: ₹45.00 crores 4,50,00,000 shares at ₹10.00 each Kajaria Bathware CCPS: ₹50.00 crores 44,11,764 shares at ₹10.00 each

These strategic decisions reflect the company's focus on expanding manufacturing capabilities in key markets while maintaining strong capital allocation discipline through the buyback program.

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