Kajaria Ceramics Ltd (KAJARIACER) Q2FY27 Concall Transcript - Sep-2026 Qtr
Moderator (Asian Market Securities): Ladies and gentlemen, good day, and welcome to the Q2 FY '27 Investor Concall of Kajaria Ceramics, hosted by Asian Markets Securities. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star, then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Karan Bhatelia from Asian Market Securities. Thank you, and over to you, sir.
Karan Bhatelia (Asian Market Securities): Thank you. Good morning, everyone, and thank you for joining on this call. From the management side, we have Mr. Ashok Kajaria, Chairman, Chetan Kajaria, Joint MD, Rishi Kajaria, MD, and Sanjeev, the CFO. I will hand over the call to Ashok ji for the initial remarks, post which we will have a Q&A round. Over to you, Ashok ji. Thank you.
Ashok Kajaria (Kajaria Ceramics Ltd): Thank you, Karan. Good morning, everyone. It gives me great pleasure to welcome you to the quarter 2 FY '27 earnings conference call of Kajaria Ceramics Limited. Joining me on this conference call is the senior management team of Kajaria Ceramics. In quarter 2 FY '27, we achieved 10% year-to-year volume growth led by better demand and gain in market share. However, export demand in first half of '27 remained subdued, mainly due to elevated freight rates and limited container availability, continuing to pose challenges for manufacturers in Morbi. Our consolidated revenue grew by 24% year-to-year to INR1,468 crores, supported by healthy volumes and the market's positive response to price hikes. EBITDA margin for quarter 2 FY '27 stood at 19.5%. Our capacity expansion plans at Srikalahasti, 12.5 million square meters, increased from 10 million sq m, and Gailpur, 11 million sq m, remain on track. These facilities are expected to strengthen our manufacturing capabilities and enable us to deliver high quality products at competitive costs. Looking ahead, we remain confident in our ability to sustain healthy growth, strengthen our market position, and create long-term value for all stakeholders. Now for this quarter's segment-wise financial performance. Tile segment revenue grew by 23% year-to-year at 1,291 crores in quarter 2 FY '27, compared to Rs. 1,051 crores in quarter 2 FY '26. Bathware segment registered a 22% growth in revenue, reaching 124 crores in quarter 2 FY '27, compared to 102 crores in quarter 2 FY '26. Revenue from the adhesive grew 69% to 54 crores in quarter 2 FY '27, as compared to Rs. 32 crores in quarter 2 FY '26. EBITDA improved in quarter 2 FY '27 to 19.51%, as compared to 17.94% in quarter 2 FY '26. PBT for the quarter grew to Rs. 250 crore 254 crores, as compared to 181 crores in quarter 2 FY '26. PAT for the quarter grew to 190 crores in quarter 2 FY '27, as compared to 1
Ashok Kajaria (Kajaria Ceramics Ltd): 3 crores in quarter two of 26. As of 30th September '26, the working capital cycle marginally increased by 2 days to 48 days compared to 46 days in quarter one of '27 because of higher turnover. With this, I take this opportunity of thanking you for joining us today. Over to moderator for Q&A, please.
Moderator (Asian Market Securities): Thank you very much, sir. We will now begin the question and answer session. Anyone who wishes to ask a question may press star and one on their touch-tone telephone. If you wish to remove yourself from the question queue, you may press star and two. Participants are requested to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles. [Music] The first question is from the line of Praveen Sahay from PL Capital. Please go ahead.
Praveen Sahay (PL Capital): Yeah. Thank you for the opportunity and many congratulations for a good set of numbers. First question is sir related to the realization of a subsidiaries at the subsidiary level in the Q2, there is a down in the realization. So is that the mix of a product which impacted this realization?
Praveen Sahay (PL Capital): Okay, okay. Second sir, question related to the price hike as Ashok sir has said there is a price hikes as well. So can you give some indication the quantum of this quarter how much of the price hike has been taken and if you can also elaborate on that you know, the segment wise like the GVT, PVT, how is the price hike happened?
Praveen Sahay (PL Capital): Okay, so this is a YTD price hike or you're talking about Q2?
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