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SOMANY CERAMICS LIMITED Driving the Next Phase of Growth September 11, 2026
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Somany Ceramics Ltd | Investor Presentation Industry Disruption Creates Opportunity 2 Domestic demand remains robust, supported by healthy residential real estate demand, renovations, premium housing, and infrastructure spending. Premiumization trend continues, with consumers increasingly preferring higher- value tiles, large formats, and premium finishes. Morbi ceramic industry faced significant disruption due to shortages and elevated prices of propane and natural gas, impacting production across the cluster. Gas prices surged sharply, rising from ~₹45/scm to as high as ~₹90/scm and the uncertainty regarding pricing continues. Any significant price reduction is not expected in short term. Exports fell to ~₹2,900 crore in Q1 FY27 versus ~₹4,800 crore in Q1 FY26 (de-grew by 39% YOY). Export volumes stood at ~69 msm, de-grew by 51% y-o-y. Industry players implemented price hikes to offset higher fuel and logistics costs, demonstrating improved pricing discipline. Organized players with units spread across multiple geographies are gaining relative advantage, benefiting from stronger brands, wider distribution networks, and manufacturing flexibility during industry disruption.
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Somany Ceramics Ltd | Investor Presentation Opportunity In Transition 3 Brand + Distribution reach + Manufacturing facilities at multiple geographies > opportunity to gain market share Changing industry dynamics incrementally favoring Organized players Strengthening Somany Ceramics value proposition. Narrowing Pricing Gap Added ~200 dealers in FY26, taking the network to ~3,100 Active dealers with 550 exclusive showrooms. Distribution Network High utilization, improving JV profitability, and low-capex capacity enhancements create a strong platform for margin expansion and earnings growth as volumes recover. Operating Leverage to Drive Earnings Growth Chanel accumulated stock in March before price increase which was sold in April & May, Now, they are cautious due to Gas price uncertainty but have started building adequate stocks. Channel Restocking now getting normalized
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Somany Ceramics Ltd | Investor Presentation Profitability Reset 4 Multiple operating levers are contributing to the sustainable expansion in EBITDA Margins from 9.3% > ~11.3% in FY27 and further 100 Bps in FY28 Higher Capacity Utilisation of Own Manufacturing Facilities JV Performance Improvement / Value Enhancement Improving revenue mix towards premium products Plant Debottlenecking & Expansion
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Somany Ceramics Ltd | Investor Presentation Higher Utilisation of Own Manufacturing Facilities 5 Higher utilization of owned manufacturing assets → Improved manufacturing economics → Higher contribution from own production → Potential for further EBITDA improvement What we are seeing 81% 77% 90% FY2025 FY2026 FY2027 E *Capacity Utilisation Levels 72% 83% Q1FY26 Q1FY27 * Optimum capacity of Plant is ~95%. We are adding ~20% capacity in FY27E & FY28E. # Additional 9.9 MW of solar capacity is operational at Kassar Plant.
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Somany Ceramics Ltd | Investor Presentation JV Performance Improvement / Value Enhancement 6 Operational efficiency and product mix change are converting our JVs into potential earnings contributors Potential PBT Swing of Rs ~35 - 40 cr from JV Turnaround Vintage Upgradation: ₹16 crore capex investment to upgrade manufacturing capacity for premium products. Max Optimization: New press installation driving productivity, efficiency and manufacturing flexibility. Sudha Modernization: ₹25 crore investment in a state-of-the-art Continua press for Large Format Tiles. Operating Leverage: Higher capacity utilization leading to improved manufacturing economics at all JV plants Green Energy Initiatives: Captive solar installations at Sudha, Vintage and Max plants are expected to drive energy savings and improve operational efficiency. Taking the total renewable capacity to 26 MWp across all locations. What is Changing -24 14 FY26 FY27E Our JV performance -11 -12 -5 4 3 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27
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Somany Ceramics Ltd | Investor Presentation Result Plant Debottlenecking & Expansion 7 ~5 MSM* of incremental GVT capacity through debottlenecking and modernization, requiring minimal capex. Potential to generate ~₹200+ crore of additional revenue while enhancing operating leverage 9+ MSM GVT manufacturing capacity with capex of INR 220 Crs # 12-15 months$ Expected commissioning INR ~350+ cr Potential Revenue Opportunity Debottlenecking South India Expansion * 2.5 MSM through ceramics capacity conversion and 2.5 MSM through augmentation. # Funding thru Mix of Debt & Equity $ Adjacent to existing south plant and Land is already purchased
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Somany Ceramics Ltd | Investor Presentation Premium Mix Driving Revenue Growth 8 GVT Revenue Mix & Capacity 11.0% 11.0% 12.9% 15.5% 16.2% 20% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% FY22 FY23 FY24 FY25 FY26 FY28 E Non-Tiles Mix % 10.00 17.00 17.00 21.01 26.18 31.18 41.18 28% 33% 34% 39% 41% 48% 60% 0% 10% 20% 30% 40% 50% 60% 70% 0.00 5.00 10.00 15.00 20.00 25.00 30.00 35.00 40.00 45.00 50.00 FY22 FY23 FY24 FY25 FY26 FY27 E FY28 E GVT Capacity GVT Revenue Mix
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Somany Ceramics Ltd | Investor Presentation Beyond Tiles: Bathware As The Next Growth Pillar 9 Bathware Business (INR crs) 207 245 267 296 319 400 500 0 100 200 300 400 500 600 FY22 FY23 FY24 FY25 FY26 FY27 E FY28 E At current levels, our plants are running at optimum capacity. We are in the process of necessary augmentation in the plants to enhance capacity.
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Somany Ceramics Ltd | Investor Presentation 39 31 8 13 9 0 5 10 15 20 25 30 35 40 45 FY22 FY23 FY24 FY25 FY26 Balance Sheet Stronger Than Ever 10 477 488 335 302 251 2.31 2.58 1.32 1.37 0.97 0 0.5 1 1.5 2 2.5 3 0 100 200 300 400 500 600 FY22 FY23 FY24 FY25 FY26 Debt Debt to EBITDA Cash Profit & Capex (INR crs) 153 139 169 150 189 271 177 161 83 67 FY22 FY23 FY24 FY25 FY26 Cash Profit Capex Debt & Debt to EBITDA (x) Working Capital Days 42 40 48 51 40 0 10 20 30 40 50 60 FY22 FY23 FY24 FY25 FY26 Debtors Days Figures in INR crores; Working Capital days excluding investments & cash balance, short term borrowings, capital creditors
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Somany Ceramics Limited CIN : L40200WB1968PLC224116 Mr. Sailesh Raj Kedawat, CFO Email: sailesh.kedawat@somanyceramics.com www.somanyceramics.com Mr. Nikunj Seth Nikunj.seth@in.mpms.mufg.com INVESTOR RELATIONS ADVISORS : MUFG Intime India Private Limited A part of MUFG Corporate Markets, a division of MUFG Pension & Market Services COMPANY : Ms. Sejal Bhattar Sejal.bhattar@in.mpms.mufg.com Thank You Meeting Request Link Link