KAJARIACER · Consumer Durables
Kajaria Ceramics Ltd. reported revenue of ₹1,468 cr for July to September 2026, +23.8% on the year and +10.5% on the quarter. That is faster than this quarter has grown in recent years (+2.8% on average), so the year-on-year number is not just the season. It is the highest quarterly revenue in the last 12 quarters on record. Over the last four quarters revenue comes to ₹5,337 cr, +14.4% on the four before.
Operating profit (EBITDA) was ₹287 cr, a margin of 19.6%, +159 bps on the year and −3 bps on the quarter. It is the widest margin of the last 8 quarters (range 11.3% to 19.6%). Operating costs grew +21.4% against revenue growth of +23.8%, so more of each rupee of sales reached operating profit.
Net profit was ₹191 cr, +42.5% on the year and +11.7% on the quarter, with earnings per share of ₹12.06. Profit before other income, one-offs and tax grew 43.4%, so the profit growth came from the business itself. The tax rate was 25% against an average of 30% over the previous 8 quarters, which lifted profit this quarter. Profit over the last four quarters totals ₹605 cr, +65.3% on the four before.
Of the 19 companies in Consumer discretionary and retail that have reported Q2 FY27 so far, Kajaria Ceramics Ltd. ranks 5th on revenue growth; the sector median is +16.7%. Its margin moved +159 bps on the year against a sector median of +78 bps.
Retail growth comes from new stores and from sales at existing stores; the statements show the total, the filing shows how much each contributed. The quarterly statements do not carry same-store sales, stores added and revenue per square foot; those come with the filing read.
On earnings per share of ₹37.99 over the last four quarters, the stock at ₹1,199.50 trades at 31.6 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,152 cr | ₹1,208 cr | ₹1,096 cr | ₹1,179 cr | ₹1,156 cr | ₹1,222 cr | ₹1,103 cr | ₹1,186 cr | ₹1,168 cr | ₹1,373 cr | ₹1,328 cr | ₹1,468 cr |
| YoY | — | — | +3% | +5% | +0% | +1% | +1% | +1% | +1% | +12% | +20% | +24% |
| EBITDA margin | 15.5% | 14.2% | 15.4% | 13.2% | 13.1% | 11.3% | 17.0% | 18.0% | 17.1% | 19.2% | 19.6% | 19.6% |
| Other income, % of PBT | 8% | 11% | 4% | 8% | 4% | −14% | 8% | 8% | −22% | 4% | 8% | 7% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 26% | 25% | 28% | 29% | 28% | 44% | 26% | 26% | 31% | 30% | 26% | 25% |
| Net profit | ₹108 cr | ₹104 cr | ₹92.0 cr | ₹86.0 cr | ₹79.0 cr | ₹43.0 cr | ₹110 cr | ₹134 cr | ₹86.0 cr | ₹157 cr | ₹171 cr | ₹191 cr |
| YoY | — | — | −16% | −23% | −27% | −59% | +20% | +56% | +9% | +265% | +55% | +43% |
| Core profit YoY | — | — | −8% | −20% | −21% | −29% | +12% | +50% | +44% | +142% | +54% | +43% |
| EPS | ₹6.54 | ₹6.43 | ₹5.64 | ₹5.29 | ₹4.88 | ₹2.67 | ₹6.84 | ₹8.35 | ₹5.51 | ₹9.78 | ₹10.64 | ₹12.06 |
| Flags | · | · | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | 1 | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Kajaria Ceramics Ltd. reported revenue of ₹1,468 cr (+23.8% on the year) and net profit of ₹191 cr (+42.5% on the year) for July to September 2026.
Profit before other income, exceptional items and tax moved +43.4% on the year, against +42.5% for reported profit.
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