Kajaria Ceramics Limited — Investor Meet, 08-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Kajaria Ceramics has announced a board meeting to consider the financial results for the quarter and half-year.

Consolidated revenue for Q4 FY25 dipped 1% YoY to Rs. 1,227 Cr, impacted by weak demand and plywood sales decline. Tile volumes grew 2% QoQ and 6% YoY to 115 million sqm. EBITDA margin fell to 10% due to UK losses, plywood provisions, and muted Bathware. PAT dropped 58% to Rs. 43 Cr. Management decided to exit plywood.

Exports declined 20% to Rs. 16 Cr but are expected to rebound in FY26 with easing freight rates. Domestic tiles grew ~2-3%; Kajaria outperformed at 6%. Bathware margins impacted by delayed plant commissioning; full-year margin around 4%, expected to improve. Tile capacity utilization near 98%, supported by outsourcing. FY26 CAPEX set at Rs. 200 Cr; no large slab plant planned.

Management focuses on cost control, brand strength, and market share growth. UK business will be wound down; Nepal plant operates at 50% capacity with positive margins. Export growth expected from US duty withdrawal. The outlook is cautiously optimistic, emphasizing operational efficiency and market leadership amidst demand recovery.