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Hindware's Q2 FY26 consolidated revenue was ₹676 Cr, with EBITDA at ₹60 Cr. H1 FY26 saw revenue of ₹1,207 Cr and EBITDA of ₹118 Cr.
The **Bathware** segment (Q2 revenue ₹397 Cr) is driving premiumisation, introducing new products, and implementing price increases (effective Nov 1). Management projects H2 sales growth in early-to-mid teens with 13-14% EBITDA.
The **Pipes** business (Q2 revenue ₹196 Cr) anticipates H2 volume growth of ~15% and 9% margins despite a challenging market. Commercial operations at the new Roorkee plant are expected in H2 FY26, aiming for profitability in the next two quarters.
**Consumer Appliances** (H1 EBITDA 11%) has exited loss-making categories, focusing on kitchen appliances and water heaters. This segment targets ₹470-500 Cr revenue and 10-12% EBITDA within two years.
Debt rose to ₹746 Cr but plans are in place for reduction. Management maintains a positive outlook for H2, driven by strategic initiatives and new capacities.