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Murudeshwar Ceramics Limited (MURUDCERA)

₹27.65 -2.43% last close, 16 Oct

📊 NSE: MURUDCERA 🏢 Ceramics - Tiles / Sanitaryware 📢 Latest filing: 07 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Murudeshwar Ceramics' revenue was ₹50.1 Cr (+8.5% year on year, -20.0% on the previous quarter), and net profit ₹0.8 Cr (-58.1% year on year); the operating margin was 19.1%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹50.1	+8.5%	-20.0%
Operating profit	₹9.6	+18.8%	-1.4%
Net profit	₹0.8	-58.1%	-48.8%
Operating margin	19.1%	—	—

Full quarterly financials → Results calendar →

MURUDCERA delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 65.03% of the MURUDCERA shares traded on NSE were taken to delivery, against the stock's own 20-session average of 80.79%. That is lower than usual for this stock. Turnover was only ₹9 lakh, so a handful of trades can move this figure.

65.03%Delivery, 16 Oct

80.79%Own 20-session average

1.9×Volume vs its average

₹27.65NSE close · -2.43%

Delivery in the last 5 sessions: 68.5% · 75.9% · 80.2% · 81.2% · 65.0%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Murudeshwar Ceramics Submits Reg 74(5) Dematerialization Compliance for Q2 Ended Sep 30, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Oct 2026, 05:25 PM

Murudeshwar Ceramics Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate issued by Registrar and Share Transfer Agent Bigshare Services Private Limited confirms that securities received for dematerialization were processed within 15 days. Security certificates received were mutilated and cancelled, and depositories were substituted as the registered owner. This is a mandatory and purely administrative regulatory filing.

Compliance certificate submitted under Regulation 74(5) for the quarter ended September 30, 2026
Issued by Registrar and Share Transfer Agent Bigshare Services Private Limited on October 7, 2026
Confirmation that securities received were processed and depositories substituted in register within 15 days of receipt

💡 No action is required as this is a standard quarterly administrative filing. Investors should track forthcoming Q2 FY27 operational and financial results.

Murudeshwar Ceramics Shareholders Approve All 43rd AGM Resolutions With Over 99% Majority

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 18 Sep 2026, 06:32 PM

Murudeshwar Ceramics Limited has declared the voting results of its 43rd Annual General Meeting held on September 18, 2026. All three resolutions were approved with overwhelming majorities (>99% votes cast in favor). Key approved ordinary resolutions include adopting FY26 audited financial statements (99.99% in favor), reappointing retiring director Shri Sunil Rama Shetty (99.99% in favor), and approving material related-party transactions with RNS Infrastructure Limited (99.36% in favor).

Adoption of FY26 financial statements passed with 99.9903% votes cast in favor (4,00,76,871 votes)
Re-appointment of director Shri Sunil Rama Shetty approved with 99.9898% votes in favor (4,00,76,421 votes)
Approval for material Related Party Transactions with RNS Infrastructure Limited passed with 99.3645% majority (5,71,806 votes in favor)
AGM voting concluded via remote e-voting (September 15-17, 2026) and poll paper at the meeting venue on September 18, 2026

💡 Track the execution and terms of related-party transactions with RNS Infrastructure Limited in future disclosures, along with upcoming Q2 FY27 earnings performance.

Murudeshwar Ceramics Concludes 43rd AGM; Approves Material RPTs with RNS Infrastructure

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 18 Sep 2026, 05:24 PM

Murudeshwar Ceramics Limited concluded its 43rd Annual General Meeting on September 18, 2026, in Hubballi, Karnataka, with 54 members in attendance. Shareholders considered and voted on routine agenda items, including the adoption of FY26 financial statements and the reappointment of retiring director Shri Sunil Rama Shetty. Notably, shareholders also took up approval for existing and new material related party transactions with RNS Infrastructure Limited. The final voting figures will be released separately once the scrutinizer's report is submitted.

43rd Annual General Meeting conducted on September 18, 2026, from 3:00 P.M. to 4:15 P.M.
A total of 54 members were present at the meeting venue in Hubballi
Approval sought for existing and new material related party transactions with RNS Infrastructure Limited under SEBI LODR Regulation 23
No qualifications or adverse remarks reported by statutory or secretarial auditors

💡 Monitor the formal voting results filing to confirm the passage percentages, especially regarding the related party transactions with RNS Infrastructure Limited.

Murudeshwar Ceramics Convenes 43rd AGM on Sept 18, 2026; Sets Sept 4 Cut-Off Date

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 18 Aug 2026, 11:47 AM

Murudeshwar Ceramics Limited has scheduled its 43rd Annual General Meeting (AGM) for Friday, September 18, 2026, to approve financial statements for FY26. The cut-off date for determining shareholder voting eligibility is September 4, 2026, with the remote e-voting window open from September 15 to September 17, 2026. Share transfer books will remain closed from September 11 to September 18, 2026. The accompanying Annual Report confirms an installed tile manufacturing capacity of 8.4 million square meters annually and discloses a corporate guarantee of ₹450 crore extended to RNS Infrastructure Limited.

43rd AGM scheduled to be held on September 18, 2026 at Hubballi, Karnataka.
Cut-off date for shareholder e-voting eligibility set for September 4, 2026.
Remote e-voting period runs from September 15, 2026 (9:00 AM) to September 17, 2026 (5:00 PM).
Disclosed total production capacity of 28,000 sq m/day (8.4 million sq m/year) across operational plants.
Consolidated notes disclose ₹450 crore corporate guarantee provided to group entity RNS Infrastructure Limited.

💡 Eligible shareholders as of September 4, 2026 can participate in remote e-voting between September 15 and September 17, 2026.

Murudeshwar Ceramics sets Sept 4, 2026, as Cut-off Date for 43rd AGM

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 13 Aug 2026, 06:32 PM

Murudeshwar Ceramics Limited has scheduled its 43rd Annual General Meeting (AGM) for September 18, 2026, to discuss the financial year 2025-26. The company has fixed September 4, 2026, as the cut-off date to determine shareholder eligibility for voting on resolutions. Additionally, the share transfer books will remain closed from September 11 to September 18, 2026. This is a standard procedural announcement required under SEBI Listing Obligations.

43rd Annual General Meeting scheduled for September 18, 2026, at 3:00 P.M.
Cut-off date for voting eligibility fixed as September 4, 2026
Book closure period set from September 11, 2026, to September 18, 2026
Meeting to be held at Hotel Naveen, Hubballi, Karnataka

💡 Investors should review the upcoming AGM notice for specific resolutions, including any potential dividend declarations or management changes not detailed in this timeline announcement.

Murudeshwar Ceramics Schedules 43rd AGM for September 18, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 13 Aug 2026, 06:15 PM

Murudeshwar Ceramics Limited has announced its 43rd Annual General Meeting (AGM) to be held on September 18, 2026, in Hubballi, Karnataka. The company has established September 4, 2026, as the cut-off date for determining shareholder voting eligibility. The register of members and share transfer books will be closed from September 11 to September 18, 2026. This is a standard procedural filing following the conclusion of FY26, where the company recorded a TTM revenue of ₹205.47 crore and a PAT of ₹10.58 crore.

43rd Annual General Meeting scheduled for September 18, 2026, at 3:00 P.M.
Cut-off date for voting eligibility fixed as September 4, 2026
Book closure period set from September 11, 2026, to September 18, 2026
AGM to be held physically at Hotel Naveen, Hubballi, Karnataka

💡 Investors should monitor the release of the Integrated Annual Report for FY25-26 to review management's outlook on energy cost management, as fuel costs previously rose from 24% to 30% of revenue.

Murudeshwar Ceramics Q1 Net Profit Drops 58% YoY to ₹0.81 Cr

🔴 NEGATIVE ⭐ 6/10

EARNINGS 📅 12 Aug 2026, 01:04 PM

Murudeshwar Ceramics reported a weak Q1 FY27 with standalone net profit falling 58% YoY to ₹0.81 Cr, despite an 8.5% growth in revenue to ₹50.09 Cr. On a sequential basis, revenue declined 20% from ₹62.64 Cr in the March 2026 quarter, while net profit halved from ₹1.58 Cr. The company continues to face margin pressure, with power and fuel costs accounting for ₹11.49 Cr, or approximately 23% of revenue. Consolidated EPS for the quarter stood at ₹0.13, down from ₹0.32 in the previous year's corresponding quarter.

Standalone revenue from operations grew 8.5% YoY to ₹50.09 Cr compared to ₹46.15 Cr in Jun 2025.
Standalone net profit declined significantly by 58% YoY to ₹0.81 Cr from ₹1.93 Cr.
Power and fuel costs remained a major expense at ₹11.49 Cr, representing 22.9% of total revenue.
Revenue from the 'Sale of Services' segment dropped 38% sequentially to ₹14.99 Cr from ₹24.15 Cr in Mar 2026.
Consolidated EPS for the quarter fell to ₹0.13 from ₹0.32 in the year-ago period.

💡 Investors should monitor the trend in energy costs (Power & Fuel), which remain the primary driver of margin volatility. The sharp sequential drop in service revenue also warrants attention in upcoming quarters to see if it is a seasonal or structural decline.

June 30, 2026: Murudeshwar Ceramics Submits Routine Share Dematerialization Certificate

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 09 Jul 2026, 01:26 PM

Murudeshwar Ceramics Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The filing, issued by Bigshare Services Private Limited, confirms that all securities received for dematerialization during the quarter ended June 30, 2026, were processed within the mandated 15-day timeframe. The process included the mutilation and cancellation of physical certificates and updating the register of members with the depository's name. This is a standard administrative filing required for all listed companies in India.

Compliance certificate covers the quarter ended 30th June 2026
Dematerialization requests were confirmed or rejected within 15 days of receipt
Physical certificates were mutilated and cancelled after due verification by the depository participant

💡 This is a procedural filing with no impact on business fundamentals; investors should monitor the upcoming Q1 FY27 financial results for performance updates.

Murudeshwar Ceramics FY26 Net Profit Rises 13.5% to ₹11.26 Cr; Q4 Profit Declines

🟡 NEUTRAL ⭐ 7/10

EARNINGS 📅 29 May 2026, 01:06 PM

Murudeshwar Ceramics reported a steady full-year performance for FY26, with net profit growing by 13.5% to ₹11.26 crore compared to ₹9.92 crore in FY25. However, the fourth quarter (Q4) saw a significant dip in net profit to ₹1.46 crore from ₹3.46 crore in the same period last year, despite a slight sequential revenue growth. Annual revenue from operations remained relatively flat at ₹206.48 crore. The company managed to reduce finance costs slightly during the year, which helped support the bottom line.

Annual Net Profit increased by 13.5% YoY to ₹1,126.16 lakhs for the financial year ended March 2026.
Revenue from operations for FY26 stood at ₹20,647.50 lakhs compared to ₹20,286.37 lakhs in FY25.
Q4 FY26 Net Profit dropped significantly to ₹145.94 lakhs from ₹346.32 lakhs in the corresponding previous quarter.
Finance costs for the full year decreased to ₹1,239.44 lakhs from ₹1,305.94 lakhs in the previous year.
Segment revenue from 'Sale of Products' contributed ₹14,870.43 lakhs, while 'Sale of Services' added ₹5,877.07 lakhs.

💡 Investors should monitor the company's margin pressure as evidenced by the weak Q4 performance despite stable annual revenue. The reduction in finance costs is a positive sign, but sustained growth in the core tiles segment is necessary for a bullish outlook.

Murudeshwar Ceramics to Close Trading Window from April 1, 2026, for Q4 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 25 Mar 2026, 01:20 PM

Murudeshwar Ceramics Limited has announced the closure of its trading window for designated persons and their relatives starting April 01, 2026. This move is a mandatory compliance step under SEBI (Prohibition of Insider Trading) Regulations, 2015. The closure is in anticipation of the company's financial results for the fourth quarter ending March 31, 2026. The window will reopen 48 hours after the financial results are officially declared to the stock exchanges.

Trading window closure to commence on April 01, 2026.
Closure is related to the finalization of financial results for the quarter ending March 31, 2026.
Trading restriction will be lifted 48 hours after the Q4 results are announced.
Applies to all designated persons and their immediate relatives as per the company's Code of Conduct.

💡 This is a routine regulatory announcement with no impact on company fundamentals. Investors should monitor the upcoming Q4 earnings release for actual performance data.

Murudeshwar Ceramics Q3 Net Profit Surges 153% YoY to ₹4.68 Crore

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 17 Feb 2026, 10:19 AM

Murudeshwar Ceramics Limited reported a strong bottom-line performance for Q3 FY26, with net profit jumping 153% YoY to ₹468.44 lakhs. While revenue from operations grew marginally by 1.9% YoY to ₹5,111.36 lakhs, it showed a robust sequential recovery of 12.2% compared to the previous quarter. The profitability was significantly aided by a sharp spike in other income, which rose to ₹403.82 lakhs from just ₹12.10 lakhs in the year-ago period. Earnings per share (EPS) improved to ₹0.77 from ₹0.31, reflecting enhanced value for shareholders despite modest top-line growth.

Net profit increased by 153% YoY to ₹4.68 crore in Q3 FY26 from ₹1.85 crore in Q3 FY25.
Revenue from operations stood at ₹51.11 crore, representing a 1.9% YoY growth and a 12.2% QoQ growth.
Other Income surged to ₹4.04 crore compared to ₹0.12 crore in the corresponding quarter of the previous year.
Basic and Diluted EPS rose to ₹0.77 from ₹0.31 in the same period last year.
Segment revenue from product sales grew to ₹39.10 crore, while service revenue declined to ₹12.01 crore.

💡 Investors should view the sharp profit growth positively but remain cautious as a significant portion of the gain was driven by non-operating 'Other Income'. Monitor the company's ability to drive core revenue growth in the tiles and ceramics segment in future quarters.

Murudeshwar Ceramics Files Q3 FY26 Share Dematerialization Compliance Report

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 10 Jan 2026, 04:52 PM

Murudeshwar Ceramics Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations. The filing, dated January 10, 2026, covers the quarter ended December 31, 2025. The company's Registrar and Share Transfer Agent, Bigshare Services Private Limited, confirmed that all dematerialization requests were handled within the prescribed 15-day timeline. This routine filing ensures that the company's shareholding records are accurately maintained in electronic form.

Compliance certificate for the quarter ended December 31, 2025, submitted to BSE and NSE.
Registrar Bigshare Services confirmed processing of dematerialization requests within 15 days.
Physical certificates were mutilated and cancelled after due verification by the depository participant.
Confirms the substitution of depository names in the register of members as registered owners.

💡 This is a routine administrative update with no impact on financial performance; no action is required from investors.

Murudeshwar Ceramics Files SEBI Regulation 74(5) Compliance for Quarter Ended Dec 2025

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 10 Jan 2026, 12:49 PM

Murudeshwar Ceramics Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Bigshare Services Private Limited, confirms that all securities received for dematerialization during the quarter ended December 31, 2025, were processed within the mandatory 15-day timeframe. It further verifies that physical certificates were mutilated and cancelled after due verification. This is a standard administrative filing required to maintain the integrity of the company's shareholding records.

Compliance certificate submitted for the quarter ended December 31, 2025.
Bigshare Services Private Limited confirmed processing of dematerialization requests within 15 days.
Verification that security certificates were mutilated and cancelled as per SEBI norms.
Confirmation that the name of the depositories has been substituted in the register of members.

💡 This is a routine regulatory filing with no impact on the company's fundamentals. No action is required from investors.

Murudeshwar Ceramics to Close Trading Window from Jan 1, 2026 for Q3 FY26 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 25 Dec 2025, 03:58 PM

Murudeshwar Ceramics Limited has announced the closure of its trading window for designated persons and their relatives starting January 01, 2026. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of financial results for the third quarter ending December 31, 2025. The window will remain closed until 48 hours after the results are officially disclosed to the stock exchanges. This is a standard regulatory procedure and does not indicate any fundamental change in the company's operations.

Trading window closure commences on January 01, 2026.
Closure is linked to the financial results for the quarter ending December 31, 2025.
Trading restriction applies to all designated persons and their immediate relatives.
Window will reopen 48 hours after the Q3 FY26 results are declared to the exchanges.

💡 No action is required as this is a routine regulatory filing. Investors should focus on the upcoming Q3 financial results to assess the company's performance.

View All MURUDCERA Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total revenue from operations for FY 2024-25 was INR 202.86 Cr, representing an 8.87% growth YoY. For the half-year ended September 30, 2025 (H1 FY26), the 'Sale of Products' segment contributed INR 67.98 Cr, while 'Sale of Services' contributed INR 20.81 Cr.

Geographic Revenue Split

Not disclosed in available documents. The company operates primarily from its registered office in Hubli and corporate office in Bengaluru, Karnataka.

Profitability Margins

The Net Profit Ratio improved significantly from 3% in FY 2023-24 to 5% in FY 2024-25, a 66.67% increase. Return on Equity (ROE) also saw a substantial rise from 1% to 3% (up 200%) during the same period.

EBITDA Margin

Not explicitly disclosed as a single percentage, but the company reported a Net Profit Ratio of 5% for FY 2024-25. Core profitability is trending upward as evidenced by the 200% increase in ROE.

Credit Rating & Borrowing

Not disclosed in available documents. However, the company reported interest costs of INR 4.49 Cr for H1 FY26 and INR 10.39 Cr for FY 2024-25, with a low Debt-Equity Ratio of 0.11.

⚙️ Operational Drivers

Raw Materials

The company identifies 'unprocessed materials' and 'production consumables' as key inputs. Production consumables cost INR 1.45 Cr in H1 FY26.

Capacity Expansion

Current and planned capacity metrics are not disclosed in the provided documents.

Raw Material Costs

Raw material costs are subject to high volatility. The company monitors these closely as they directly impact the cost of manufacturing ceramic tiles.

Manufacturing Efficiency

Capacity utilization is not specified, but the Inventory Turnover Ratio improved by 13.84% from 1.59 in FY24 to 1.81 in FY25, indicating better operational efficiency.

Logistics & Distribution

Selling expenses, which include distribution, were INR 5.27 Cr in H1 FY26, representing approximately 5.7% of revenue.

📈 Strategic Growth

Growth Strategy

The company focuses on improving profitability (ROE up 200%) and operational efficiency (Inventory Turnover up 13.84%). It leverages its associate company, RNS Power Limited, for consolidated financial strength and maintains ISO 9001-2008 certification to ensure product quality in the ceramic tile sector.

Products & Services

Ceramic tiles, vitrified tiles, and related flooring services.

Brand Portfolio

Naveen Tile

Strategic Alliances

Consolidated financials include RNS Power Limited as an associate company.

🌍 External Factors

Industry Trends

The ceramic tile sector is currently facing unpredictable marketplaces and volatility in input costs. Future growth is contingent on stable fuel availability and reasonable power costs.

Competitive Moat

The company's moat is built on its established 'Naveen Tile' brand and ISO 9001-2008 quality certification. Sustainability is supported by a very low Debt-Equity Ratio (0.11), providing financial resilience against industry downturns.

Macro Economic Sensitivity

Highly sensitive to inflation in energy prices (Power/Fuel) and raw material costs, which are critical for the ceramic sector's growth.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by Indian Accounting Standards (IND AS) and ISO 9001-2008 certification standards. The company must also comply with SEBI (LODR) Regulations for financial reporting.