Kajaria Ceramics Q2 FY27 Results: Consolidated Net Profit ₹191 Crore on Total Income of ₹1,468 Crore
Earnings
ceramic tiles
Blacklitt Research4 min read
Kajaria Ceramics reported consolidated total income of ₹1,468.26 crore and net profit of ₹190.59 crore for the quarter ended 30 Sep 2026, and standalone total income of ₹1,355.17 crore and net profit of ₹166.51 crore, it said in a filing on 24 Oct 2026.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹1,468.26 crore, up 23.8% YoY
Net profit and EPS: ₹190.59 crore, up 42.3% YoY; basic EPS ₹12.00 against ₹8.37
Finance costs: ₹43.10 crore, against ₹41.89 crore a year earlier
Interim dividend: ₹12 per equity share of Re. 1; record date 29 Oct 2026
Standalone
The company on its own, without its subsidiaries
Total income: ₹1,355.17 crore, down 36.3% YoY and up 13.9% QoQ
Net profit and EPS: ₹166.51 crore, down 24.6% YoY; basic EPS ₹10.52 against ₹13.82
Finance costs: ₹21.20 crore, against ₹7.13 crore a year earlier
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
1,468.26
1,186.01
+23.8%
n/a
n/a
Revenue from operations
1,444.02
1,186.01
+21.8%
n/a
n/a
Other income
15.76
15.47
+1.9%
n/a
n/a
190.59
133.98
+42.3%
n/a
n/a
Profit before tax
255.05
133.98
+90.4%
n/a
n/a
Finance costs
43.10
41.89
+2.9%
n/a
n/a
Depreciation
15.76
n/a
n/a
n/a
n/a
Tax expense
64.22
47.19
+36.1%
n/a
n/a
EPS, basic (₹)
12.00
8.37
+43.4%
n/a
n/a
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated net profit rose 42.3% year on year, faster than total income, which rose 23.8%. Profit before tax rose 90.4%, so the gain is larger further up the statement than at the net profit line.
The year-ago base does not reconcile on its face: profit before tax of ₹133.98 crore less tax of ₹47.19 crore gives ₹86.79 crore, yet the year-ago net profit is ₹133.98 crore. The gap of ₹47.19 crore is not explained in the statement, so the size of the year-on-year growth depends on which year-ago figure is taken.
Other income of ₹15.76 crore is 1.1% of total income and 6.2% of profit before tax of ₹255.05 crore, while revenue from operations of ₹1,444.02 crore makes up most of the total. Finance costs of ₹43.10 crore are 2.9% of total income, and tax of ₹64.22 crore is 25.2% of profit before tax. The statement includes a share of profit from joint ventures of ₹2.61 crore and a loss before tax from discontinued operations of ₹0.16 crore.
The consolidated depreciation line is ₹15.76 crore, against ₹98.74 crore standalone. The filing does not explain the difference between the two.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
1,355.17
2,126.87
-36.3%
1,190.08
+13.9%
Revenue from operations
1,331.90
2,086.41
-36.2%
1,168.44
+14.0%
Other income
23.37
40.46
-42.2%
21.64
+8.0%
166.51
220.69
-24.6%
n/a
n/a
Profit before tax
224.32
296.70
-24.4%
n/a
n/a
Finance costs
21.20
7.13
+197.3%
n/a
n/a
Depreciation
98.74
190.03
-48.0%
n/a
n/a
Tax expense
58.00
76.31
-24.0%
n/a
n/a
EPS, basic (₹)
10.52
13.82
-23.9%
n/a
n/a
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone total income fell 36.3% year on year, to ₹1,355.17 crore from ₹2,126.87 crore, though it rose 13.9% from the ₹1,190.08 crore of the June quarter. Net profit fell 24.6%, a smaller fall than income. The statement does not give the reason for the year-on-year fall in income.
Standalone finance costs rose to ₹21.20 crore from ₹7.13 crore, and depreciation fell to ₹98.74 crore from ₹190.03 crore. Other income of ₹23.37 crore is 10.4% of profit before tax of ₹224.32 crore, and tax of ₹58.00 crore is 25.9% of it. The reasons for the change in finance costs and depreciation are not stated.
Consolidated net profit of ₹190.59 crore is ₹24.08 crore higher than standalone net profit of ₹166.51 crore. The consolidated results include KBPL, bought from Aravali Investment Holdings for ₹50.00 crore and now wholly owned by the company.
The board approved an interim dividend of ₹12 per equity share, with a record date of 29 Oct 2026 and payment on or before 22 Nov 2026. It also approved revised costs for the Srikalahasti expansion of ₹340 crore, up from ₹210 crore, and for the Gailpur expansion of ₹180 crore, both to be funded by internal accruals and banks, mainly LC. The shareholders approved a buyback of up to ₹296.70 crore through postal ballot, and a tile adhesive plant at Durgapur (West Bengal) is planned at ₹34 crore. The statutory auditors' limited review found nothing that causes them to believe the statements are misstated.
Inference
The results show consolidated profit growing faster than income, while standalone income and profit both fell year on year. The consolidated figures carry the joint venture share, KBPL and discontinued operations, so the two sets of numbers differ by more than the subsidiary alone.
The interim dividend of ₹12 per share and the expansions of ₹340 crore, ₹180 crore and ₹34 crore are the capital commitments in the filing. The filing does not say how the year-ago profit gap of ₹47.19 crore arises, why standalone income fell, or how much of the expansion spend falls in which year beyond the completion dates given.
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KAJARIACERKajaria Ceramics Ltd.