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KAJARIA CERAMICS LIMITED 1 of 17INVESTOR UPDATE | Q3 FY26 KAJARIA CERAMICS LIMITEDINVESTOR UPDATE | Q3 FY2630thJanuary, 2026
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KAJARIA CERAMICS LIMITED 2 of 17INVESTOR UPDATE | Q3 FY26 Chairman’s MessageFinancial Performance – Q3 FY26 SubsidiariesIncome Statement Shareholding Pattern CONTENT *The Company has disclosed the plywood operations (Kajaria Plywood Pvt. Ltd.) separately as discontinued business but forease of comparison, we have included the same in this presentation.
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KAJARIA CERAMICS LIMITED 3 of 17INVESTOR UPDATE | Q3 FY26 In Q3 FY26, overall market demand continued to remain soft. Ourconsolidated revenue for the quarter is flattish at ₹ 1168 crores compared to the corresponding quarter last year mainly due to no growth in tiles volume and absence of ply sales due to closer of that division. EBDITA margin in Q3 FY 26 is 17.20%, + 442 bps as against 12.78% in corresponding quarter last year .However, EBITDA dropped by 74 bps sequentially as compared to Q2 FY26 mainly because of lower sales realisation as we gave some discount in order to reduce our SKUs.In Gailpur plant, we have converted one unit (capacity of 9.10 msmp.a.) from Ceramic Floor Tiles to Glazed Vitrified Tiles to move towards value added products as per prevailing market demand scenario.With Kajaria 2.0, our transformation journey has begun, and we remain confident about sustainable value creation ahead. CHAIRMAN’S MESSAGE
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KAJARIA CERAMICS LIMITED 4 of 17INVESTOR UPDATE | Q3 FY26 Production Growth (MSM) - Q3 FY26 Sales Growth (MSM) – Q3 FY26 Production Growth (MSM) - 9M FY26 Sales Growth (MSM) – 9M FY26 TILE VOLUME DATA (Consolidated) 16.3215.666.896.2923.2121.95Q3 FY25 Q3 FY26 Own Manufacturing Subsidiaries 47.4445.6618.4818.5965.9264.259M FY25 9M FY26 Own Manufacturing Subsidiaries 15.44 15.445.876.987.596.5528.9028.97Q3 FY25 Q3 FY26 Own Manufacturing Subsidiaries OutsourceYOY Flattish 45.9745.8616.8219.0221.7920.1484.5885.029M FY25 9M FY26 Own Manufacturing Subsidiaries Outsource
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KAJARIA CERAMICS LIMITED 5 of 17INVESTOR UPDATE | Q3 FY26 Rs . / Crores-315.5183.71169.00REVENUE GROWTH (Consolidated)92.21261.21363.4791.0290.14 568.84563.45206.73228.94265.08237.518.09-103.2120.46 35.15 1163.711168.26 Q3 FY25 Q3 FY26 Adheshives Sanitary ware / Faucets Plywood Outsourcing (Tiles) Subsidiaries (Tiles) Own Manufacturing (Tiles) 1714.641687.11601.11654.82767.94725.7743.452.14297.0753.86 92.24 3456.673459.15 9M FY25 9M FY26 Adheshives Sanitary ware / Faucets Plywood Outsourcing (Tiles) Subsidiaries (Tiles) Own Manufacturing (Tiles)94.51275.67
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KAJARIA CERAMICS LIMITED 6 of 17INVESTOR UPDATE | Q3 FY26 Rs. / CroresPBT*PA TPROFITABILITY (Consolidated) 110.71165.12Q3 FY25 Q3 FY26 364.59494.829M FY25 9M FY26 77.7487.72Q3 FY25 Q3 FY26 251.83329.669M FY25 9M FY26*Profit before share of profit /(loss) from JV, exceptional items and tax
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KAJARIA CERAMICS LIMITED 7 of 17INVESTOR UPDATE | Q3 FY26 Rs./ Crores EBITDA/EBITDA Margin (Consolidated) Quarterly Progression 148.74122.81184.63212.90200.9012.78%10.01%16.72%17.94%17.20%5%10%15%20% 50100150200 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26EBITDA (Rs. / Crores)EBITDA Margin (%)
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KAJARIA CERAMICS LIMITED 8 of 17INVESTOR UPDATE | Q3 FY26 * Net of cash and cash equivalents Net Debt Equity(X) *Net Debt (Rs.Crore)*KEY RATIOS (Consolidated) -373-236-349-424-472Mar-22 Mar-23 Mar-24 Mar-25 Dec-25-0.17-0.10-0.13-0.15-0.16Mar-22 Mar-23 Mar-24 Mar-25 Dec-25
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KAJARIA CERAMICS LIMITED 9 of 17INVESTOR UPDATE | Q3 FY26 •ROE for quarter has been takenat average ofnet worthpreceding FY and respective quarter and on the PAT for current year till date. •Working capital days excludes capex creditors, capital advances and cash, cash equivalent & bank balance. Return on Equity (Avg.)Working Capital (Rs. Crore)Working Capital (Days)ROCE(Avg.) KEY RATIOS (Consolidated) 16.2820.3022.0422.24Mar-25Jun-25Sep-25Dec-2551585664Mar-25Jun-25Sep-25Dec-25 10.9815.5717.0615.57Mar-25Jun-25Sep-25Dec-25570544592643618653635641338310269302Mar-25 Jun-25 Sep-25 Dec-25DebtorsInventoryCreditors
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KAJARIA CERAMICS LIMITED 10 of 17INVESTOR UPDATE | Q3 FY26 A.KAJARIA VITRIFIED PVT. LTD.Kajaria Vitrified Pvt. Ltd. is based in Morbi (Gujarat). Kajaria has 95% stake in thesame. The company has annual capacity of 8.90 MSM of polished vitrified tiles.The Company has operated at optimum capacity during Q3 FY26.B. KAJARIA INFINITY PVT. LTD.Kajaria Infinity Pvt. Ltd. is based in Morbi (Gujarat). Kajaria Ceramics has 84.59%stake in the same. Kajaria Infinity has annual capacity of 2.70 MSM (reduced from5.70 MSM) of glazed vitrified tiles and operated at optimum capacity during Q3FY26.C. SOUTH ASIAN CERAMICS TILES PVT. LTD.Kajaria Ceramics has 59.50% stake in South Asian Ceramics Tiles Pvt. Ltd., Telangana.The Annual production capacity of South Asian Ceramics is 4.75 MSM ceramic floortiles. The Company has operated at 78% during Q3 FY26.D. KAJARIA SURFACES PVT. LTD.*Kajaria Ceramics has 90% stake in this company situated at Morbi (Gujarat). Thecompany has annual capacity of 6 MSM of glazed vitrified tiles. The Company hasoperated at optimum capacity during Q3 FY26.The board has at its meeting held on30thJanuary, 2026, approved further investment upto Rs. 1.20 crores to acquireremaining 10% shares of Kajaria Surfaces to make it wholly owned subsidiary ofKajaria Ceramics. SUBSIDIARIES
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KAJARIA CERAMICS LIMITED 11 of 17INVESTOR UPDATE | Q3 FY26 E. KAJARIA BATHWARE (P) LTD. (KBPL)Kajaria Bathware is a subsidiary of Kajaria Ceramics Ltd, in which Kajaria owns 85%and Aravali Investment Holdings, Mauritius, a wholly-owned subsidiary of WestBridgeCrossover Fund, LLC owns 15% stake.a) Sanitaryware: i) Kajaria Sanitaryware Pvt. Ltd. (KSPL): KSPL Plant is situatedin Morbi (Gujarat) having production capacity of 7.50 lac pcs p.a. The Plant hasoperated at 77% in Q3FY26.ii) Kerovit Global Pvt. Ltd. (KGPL): KGPL Plant is also situatedin Morbi (Gujarat) having production capacity of 4.50 lac pcs p.a. The Plant wasput up in March 2024 to produce high end products. The Plant has operated at69% in Q3FY26.b) Faucet: This facility is situated at Gailpur (Rajasthan) having 1.60 million pcsp.a. The plant has operated at 66% in Q3FY26. SUBSIDIARIES
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KAJARIA CERAMICS LIMITED 12 of 17INVESTOR UPDATE | Q3 FY26 F. KAJARIA INTERNATIONAL DMCC (wholly owned subsidiary)Kajaria International DMCC was established to expand its presence in theinternational market. The company has undertaken two joint ventures – one in UAEand the other in UK. As we realized that running expenses of showrooms are veryhigh, and it is difficult to make profit in short to medium term, we have closed downthis operation.G. KAJARIA RAMESH TILES LIMITED - KRTL (50% Joint Venture)KRTL is a 50% JVbetween the Company and various individuals affiliated withRamesh Corp, Nepal. The Annual production capacity of KRTL is 5.10 MSM floorand wall tiles. Plant is operational from 8thSep. 24.The Plant has operated at~44% in Q3 FY26. SUBSIDIARIES
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KAJARIA CERAMICS LIMITED 13 of 17INVESTOR UPDATE | Q3 FY26 I. ADHESIVE DIVISION.One manufacture facility for tile adhesives having capacity of 9000 MT permonth is operational in Gailpur, Rajasthan.Further, the Board had at its meeting held on 4thFebruary, 2025 / 29thSeptember, 2025, approved to make investment upto Rs. 23 crores in KajariaAdhesive Private Limited (‘KAPL’) by subscribing/acquiring upto 75% shares ofKAPL to set-up a manufacturing unit at Erode, Tamil Nadu. Accordingly, theCompany has acquired 75% shares of KAPL. The Board has at its meetingheld on 30th January, 2026, approved acquisition of remaining 25% shares ofKajaria Adhesive to make it wholly owned subsidiary of Kajaria Ceramics.
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KAJARIA CERAMICS LIMITED 14 of 17INVESTOR UPDATE | Q3 FY26 35.95 MSM(Gailpur, Rajasthan)8.80 MSM* (Sikandrabad, U P)8.90 MSM(Kajaria Vitrified, (Jaxx), Morbi, Gujarat) 6.50 MSM(Malootana, Rajasthan) MANUFACTURING PRESENCE OVERVIEW – Tile Capacity 87.80 MSM 8.80 MSM(Srikalahasti, Andhra Pradesh)4.75 MSMSouth Asian Ceramics (Balanagar, Telangana) 6 MSM(Kajaria Surfaces (Keronite Tiles), Morbi, Gujarat)3.00 MSM*(Kajaria Infinity (Cosa), Morbi, Gujarat) 5.10 MSM(Nawalparasi, Nepal)GEOGRAPHICAL SPREAD Production Capacity (MSM)PlantTotalGlazedVitrifiedTilesPolishedVirifiedTilesCeramicWall &Floor Tiles8.808.80--1. Sikandrabad (UP)35.9518.20-17.752. Gailpur (Rajasthan)6.50-6.50-3. Malootana (Rajasthan)17.909.008.90-4. Morbi (Gujarat)8.808.80--5. Srikalahasti (AP)4.75--4.756. Balanagar (Telangana)5.102.55-2.557. Nawalparasi, Nepal87.8047.3515.4025.05Total
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KAJARIA CERAMICS LIMITED 15 of 17INVESTOR UPDATE | Q3 FY26 Financial highlights(Rs / Crores)INCOME STATEMENTGrowth9M FY259M FY26GrowthQ3 FY25Q3 FY26ConsolidatedStandaloneConsolidatedStandaloneConsolidatedStandaloneConsolidatedStandaloneConsolidatedStandaloneConsolidatedStandalone0%1%3,456.67 3,113.89 3,459.15 3,139.40 0%0%1,163.71 1,049.65 1,168.26 1,052.99 Total Sales26%21%474.69 393.62 598.43 475.96 35%30%148.74 120.89 200.90 157.64 EBITDA13.73%12.64%17.30%15.16%12.78%11.52%17.20%14.97%EBITDA MARGIN4%-1%122.58 88.32 127.07 87.56 4%6%39.86 27.64 41.50 29.27 Depreciation-7%-15%18.11 7.24 16.91 6.16 -32%-30%8.70 3.37 5.94 2.37 Finance Costs32%16%30.59 50.45 40.37 58.48 11%6%10.53 17.03 11.66 18.02 Other Income36%26%364.59 348.51 494.82 440.72 49%35%110.71 106.91 165.12 144.02 Profit before Share of (loss) / profit from JV, exceptional items, and Tax(6.22)0.62 (1.00)(0.77)Share of (loss) / profit from JV(39.64)*(18.22)(39.64)(18.22)Exceptional Items - (loss) gain27%21%358.37 348.51 455.80 422.50 14%18%109.71 106.91 124.71 125.80 Profit Before Tax23%22%101.53 89.49 125.36 109.08 25%20%30.73 27.36 38.56 32.77 Tax Expense5.01 0.78 1.24 (1.57)Minority Interest31%21%251.83 259.02 329.66 313.42 13%17%77.74 79.55 87.72 93.03 Profit After Tax22%15%374.41 347.34 456.73 400.98 10%14%117.60 107.19 129.22 122.30 Cash Profit15.93 15.93 15.93 15.93 15.93 15.93 15.93 15.93 Equity Share Capital31%21%15.81 16.26 20.70 19.68 13%17%4.88 4.99 5.51 5.84 EPS (Basic) (Rs.)* Financial Fraud 19.36, Gratuity / LE 18.30, Impairment (UK JV) 1.98
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KAJARIA CERAMICS LIMITED 16 of 17INVESTOR UPDATE | Q3 FY26 A s on 31stDec. 2025Equity Shares Outstanding–159.27 millionsSHAREHOLDING PATTERN 47.69%11.66%26.30%14.35%Shareholding Promoter GroupFII'sDII'sPublic / OthersPromoterPublic / OthersDII'sFII's
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KAJARIA CERAMICS LIMITED 17 of 17INVESTOR UPDATE | Q3 FY26 Disclaimer: Certain Statements in this document may be forward-looking within the meaning of applicable laws and regulations. Andactual results might differ substantially from those expressed or implied. Such statements are subject to certain risks and uncertaintieslike regulatory changes, local political or economic developments, technological risks, and many other factors could cause our actualresults to differ. Kajaria Ceramics Limited will not be in any way responsible for any action taken based on such statements. Kajaria Ceramics is the largest manufacturer of ceramic/vitrified tiles in India. Ithas annual capacity of 87.80 mn. sq. meters presently, distributed across nineplants - one at Sikandrabad (Uttar Pradesh), one at Gailpur, one at Malootana(Rajasthan), three at Morbi (Gujarat),one at Srikalahasti (Andhra Pradesh), one atBalanagar (T elangana) and one at Nawalparasi (Nepal).For further information, please visit www.kajariaceramics.comor contact:Mr. SanjeevAgarwal Mr. Parveen GuptaCFO Vice President - Finance +91 11 26946409 (Board), +91 11 26946409 (Board), +91 11 41064110 (Direct) +91 11 40946550(Direct)sanjeev@kajariaceramics.com parveengupta@kajariaceramics.com ABOUT US