Kajaria Ceramics Q2 Results, October 24, 2026: Profit Up 43% as Tile Volumes Grow 10%

Kajaria Ceramics Q2 results came in on Saturday evening, October 24, 2026, and the headline is a clean one: consolidated profit after tax rose 43% year on year to ₹189.52 crore for the July-September quarter, on revenue that grew 24%. All figures below are from the company’s Q2 FY27 investor update and its board meeting outcome filed with NSE.

Kajaria Ceramics Q2 results: the key numbers

Consolidated total sales were ₹1,468.26 crore, against ₹1,186.56 crore in the September 2025 quarter. EBITDA climbed 35% to ₹286.50 crore, and the EBITDA margin widened to 19.51% from 17.94% a year ago. Profit before tax, JV share and exceptional items was up 41% at ₹253.88 crore.

The standalone business, which is mostly Kajaria’s own plants, did a little less on the top line and a lot more on margins. Standalone sales rose 23% to ₹1,331.90 crore, while the standalone EBITDA margin moved up to 17.93% from 15.97%. Standalone profit after tax was ₹166.28 crore, up 38%.

For the first half (April-September), consolidated sales rose 22% to ₹2,796.34 crore and profit after tax rose 48% to ₹358.98 crore.

Volumes did the heavy lifting

This wasn’t a pricing-only quarter. The chairman’s message in the investor update says tile volumes grew 10% year on year, helped by better demand and market share gains, and that the market responded well to price hikes. Total tile sales volume was 31.81 million square metres (MSM), up from 28.87 MSM a year earlier.

One soft spot: exports. The company said export demand stayed subdued through the first half, with high freight rates and limited container availability still hurting manufacturers in Morbi, the Gujarat tile cluster.

Sequentially, Q1 FY27 EBITDA was ₹260.33 crore at a 19.60% margin, so the margin held broadly flat while absolute EBITDA rose.

Dividend, record date and the capex bill

The board approved an interim dividend of ₹12 per share (face value ₹1) for FY27. The record date is Thursday, October 29, 2026, and payment will be made on or before November 22, 2026.

The expansion plans got bigger, and so did the cost:

• Srikalahasti, Andhra Pradesh: the brownfield glazed vitrified tile project is now 12.50 MSM, up from the 10 MSM approved in April. Estimated cost has been revised to ₹340 crore from ₹210 crore, which the company puts down to the higher capacity, a bigger shed for future expansion and a new warehouse. Completion is expected by June 2027.
• Gailpur, Rajasthan: the 11 MSM expansion now costs about ₹180 crore instead of ₹165 crore, mainly due to higher civil costs and a larger warehouse. Target: April 2027.
• Durgapur, West Bengal: a new tile adhesive plant of 9,000 tonnes a month at roughly ₹34 crore, due by December 2027.

Kajaria’s current tile capacity is 82.70 MSM, excluding the 5.10 MSM of its Nepal joint venture. During the quarter it also completed the ₹50 crore purchase of the CCPS held by Aravali Investment Holdings in Kajaria Bathware, making that unit wholly owned.

Volumes up 10% while price hikes held: that is growth coming from demand, not just from a better price tag.

What it means

We’d read this as a demand-led quarter rather than a cost-cut quarter, which tends to be the more durable kind. The balance sheet is still net cash: ₹635 crore at the end of September, down from ₹793 crore in March after buyback and dividend outflows during the half. That cushion makes the higher capex easier to absorb, though the jump in the Srikalahasti budget is worth watching for return-on-capital math once the plant runs.

The open questions for the second half are exports out of Morbi and whether price hikes stick without denting volumes. If you’re new to reading results like these, our guide on how to analyse quarterly results of a company walks through the line items, and for another building-materials read from the same evening, see our take on JK Cement’s Q2 numbers.

Disclaimer: This article is for information and education only and is not investment advice. Please do your own research or consult a SEBI-registered adviser before making any investment decision.