Regency Ceramics Limited (REGENCERAM)
₹31.76 +1.02% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Regency Ceramics' revenue was ₹18.3 Cr (+172.7% year on year, +66.6% on the previous quarter), and net profit ₹-2.6 Cr (a bigger loss than a year earlier); the operating margin was -83.2%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹18.3 | +172.7% | +66.6% |
| Operating profit | ₹-15.3 | loss widened | loss widened |
| Net profit | ₹-2.6 | loss widened | loss narrowed |
| EPS (₹) | -0.97 | loss widened | loss narrowed |
| Operating margin | -83.2% | — | — |
REGENCERAM delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 68.05% of the REGENCERAM shares traded on NSE were taken to delivery, against the stock's own 20-session average of 71.09%. That is close to its usual level. Turnover was only ₹2 lakh, so a handful of trades can move this figure. Volume was 0.4 times its average, well below normal. It closed at a price band (circuit) on 1 session in about the last 20.
Delivery in the last 5 sessions: 72.0% · 73.4% · 71.5% · 91.0% · 68.0%
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
Regency Ceramics Limited has submitted the Scrutinizer's report and voting results for its 42nd Annual General Meeting held on September 30, 2026. Shareholders approved all six resolutions with a requisite majority, including the adoption of FY26 financial statements and director appointments. Notably, material related party transactions with MD & CFO Narala Satyendra Prasad and promoter Radhika Prasad Narala were approved, with 37,01,180 public votes in favor (99.98%) as promoter votes were excluded. Total valid votes polled across general resolutions stood at 1,22,85,112 shares, representing 46.46% of total outstanding shares.
- All 6 resolutions approved with over 99.97% votes cast in favor.
- Total votes polled for general resolutions: 12,285,112 shares out of 26,441,586 shares (46.46% turnout).
- Promoter holding of 15,978,125 shares abstained/excluded from voting on material related party transactions (Resolutions 5 & 6).
- Public institutions and non-institutions cast 3,701,180 votes (99.98% approval) in favor of the related party transactions.
Regency Ceramics Limited concluded its 42nd Annual General Meeting on September 30, 2026, conducted via video conferencing with 42 members attending. The meeting transacted six agenda items, including the adoption of FY26 financial statements, director appointments, and material related-party transactions with promoters Mr. Narala Satyendra Prasad and Mrs. Radhika Prasad Narala. The company remains in a distressed operational phase with zero TTM revenue, a negative net worth of Rs -84 crore, and Rs 109 crore in debt. Final voting results will be published separately following the scrutinizer's report.
- 42nd AGM held on September 30, 2026, commencing at 11:30 AM and concluding at 11:54 AM IST
- 42 members attended the meeting virtually via Video Conferencing
- 6 resolutions placed for vote, including material related party transactions with MD & CFO and a Non-Executive Director
- Remote e-voting was held between September 27, 2026 and September 29, 2026
Regency Ceramics has scheduled its 42nd Annual General Meeting (AGM) for September 30, 2026, through video conferencing. The remote e-voting window is set from September 27 to September 29, 2026, with the cut-off date on September 23, 2026. Along with the AGM notice, the company released its Annual Report for FY26, highlighting persistent audit qualifications since 2013 regarding unprovided interest on unsecured loans, MSME dues, and statutory liabilities. The company continues to operate with deep negative net worth (Rs -84 Cr) following historical operational disruptions.
- 42nd Annual General Meeting scheduled for September 30, 2026, at 11:30 AM IST
- Cut-off date for e-voting eligibility set for September 23, 2026
- Remote e-voting window open from September 27, 2026 (9:00 AM) to September 29, 2026 (5:00 PM)
- Repetitive qualified audit opinions noted regarding non-provision of interest on unsecured loans and statutory dues since 2013
- Independent stock audit conducted by M/s. Tirupathi Associates from May 14 to May 23, 2026, regarding inventory valuation
Regency Ceramics Limited has approved the appointment of Mr. Subbiah Srinivasan Battina as an Additional Non-Executive Independent Director effective September 02, 2026. The appointment is for a period of 3 years and is subject to shareholder approval at the next General Meeting or within three months. Mr. Battina is a Chartered Accountant with 53 years of professional experience across finance, internal control, and auditing. This appointment adds governance oversight to the company as it navigates an ongoing revival following historic lockouts and negative net worth.
- Appointed Mr. Subbiah Srinivasan Battina (DIN: 00482513) as Non-Executive Independent Director effective September 02, 2026
- Appointed for a term of 3 years, subject to shareholder approval within three months or at the next General Meeting
- Appointee is a Chartered Accountant with 53 years of experience in auditing, internal controls, and taxation
- Board meeting approving the appointment concluded in 20 minutes (04:45 PM to 05:05 PM IST)
Regency Ceramics has appointed Mr. Pavan Kumar Duvva, a legal professional with 20+ years of experience, as an Independent Director for a 3-year term starting August 13, 2026. The company continues its revival efforts following a lockout since 2012, reporting significant balance sheet cleaning including a Rs 26.83 crore debtor write-off and a Rs 13.37 crore creditor write-back. Auditors have maintained a qualified opinion due to non-provision of employee benefits and interest on unsecured loans. A critical development is the confirmation of a Rs 133.30 crore arbitral award plus interest in favor of the company, which remains under legal challenge by the insurer.
- Appointment of Mr. Pavan Kumar Duvva as Independent Director for a 3-year term effective August 13, 2026.
- Write-off of time-barred debtors amounting to Rs 26.83 crore and write-back of creditors worth Rs 13.37 crore.
- Inventory write-off of Rs 2.53 crore identified as obsolete or damaged during physical verification.
- Confirmation of a Rs 133.30 crore arbitral award plus interest for property damage, currently contested in the Madras High Court.
- Auditor qualification regarding non-provision of interest on unsecured loans and statutory penalties.
Regency Ceramics reported its Q1 FY27 results, highlighting a significant legal victory with a Rs 133.30 Cr arbitral award (plus interest) confirmed by a District Judge regarding insurance claims. The company is undergoing a balance sheet cleanup, writing off Rs 26.83 Cr in old debtors and Rs 2.53 Cr in obsolete inventory, while writing back Rs 13.37 Cr in creditors. Auditors have issued a qualified opinion, noting the absence of provisions for employee liabilities (gratuity/wages) since the 2012 lockout and lack of PPE impairment testing. Operations at the Yanam plant have been active for 21 months following the refurbishment of one production line.
- Confirmed arbitral award of Rs 133.30 Cr plus interest in favor of the company for property damage claims.
- Write-off of time-barred debtors amounting to Rs 26.82 Cr and write-back of creditors worth Rs 13.36 Cr.
- Inventory write-off of Rs 2.53 Cr following physical verification of obsolete raw materials and stores.
- Appointment of legal professional Mr. Pavan Kumar Duvva as Independent Director for a 3-year term.
- Auditors highlighted non-provision of interest on unsecured loans and statutory dues, impacting future cash flows.
Regency Ceramics has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations for the period ending June 30, 2026. The Registrar, Venture Capital and Corporate Investments Private Limited, confirmed that share certificates received for dematerialization were verified, cancelled, and updated in the records of NSDL and CDSL. This process was completed within the mandated 15-day window. The filing is a standard procedural requirement and does not impact the company's ongoing revival efforts or financial status.
- Compliance certificate issued for the quarter ended June 30, 2026
- Dematerialization requests processed and updated within 15 days of receipt
- Registrar confirmed verification and cancellation of physical share certificates
Regency Ceramics Limited has announced the closure of its trading window for all designated persons and their immediate relatives starting July 1, 2026. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the financial results for the quarter ending June 30, 2026. The window will remain closed until 48 hours after the official declaration of the quarterly results. The specific date for the board meeting to approve these results will be communicated at a later time.
- Trading window closure effective from July 1, 2026.
- Closure pertains to the financial results for the quarter ending June 30, 2026.
- Window to reopen 48 hours after the financial results are declared to the exchanges.
- Compliance maintained under SEBI (Prohibition of Insider Trading) Regulations, 2015.
Dr. Naraiah Naidu Gudaru, the Promoter and Executive Chairman of Regency Ceramics Limited, has filed a formal declaration under Regulation 31(4) of SEBI (SAST) Regulations, 2011. The disclosure confirms that the promoter group and Persons Acting in Concert (PAC) did not create any new direct or indirect encumbrances on their shareholding during the financial year ended March 31, 2026. This annual compliance filing ensures transparency regarding the pledging of promoter shares, stating that only previously disclosed encumbrances exist.
- Declaration filed under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
- Covers the entire financial year ending March 31, 2026.
- Promoter group and 7 Persons Acting in Concert (PAC) confirmed no new encumbrances were made.
- The disclosure was submitted to both BSE (515018) and NSE (REGENCERAM) on April 07, 2026.
Regency Ceramics reported a significant revenue surge to ₹3,826.78 lakhs in FY26, compared to ₹1,314.70 lakhs in FY25, driven by a manufacturing arrangement in Andhra Pradesh. However, the company posted a substantial net loss of ₹2,384.48 lakhs for the year, reversing a profit of ₹225.01 lakhs in the previous year. The company's net worth is completely eroded with accumulated losses reaching ₹12,908.87 lakhs. While one manufacturing line at the Yanam plant has been refurbished for recommencement, the financial position remains precarious with high debt and ongoing recovery from past industrial disruptions.
- Annual revenue from operations grew by 191% YoY to ₹3,826.78 lakhs in FY26.
- Net loss for Q4 FY26 stood at ₹1,249.40 lakhs compared to a profit of ₹1,146.22 lakhs in Q4 FY25.
- Total equity remains negative at -₹8,393.88 lakhs due to accumulated losses of ₹12,908.87 lakhs.
- Long-term borrowings increased to ₹10,393.40 lakhs from ₹7,052.57 lakhs in the previous year.
- M/s. Brahmayya & Co. has been re-appointed as the Internal Auditor for the Financial Year 2026-27.
Regency Ceramics reported a significant surge in annual revenue from operations to ₹3,826.78 lakhs in FY26, compared to ₹1,314.70 lakhs in FY25. Despite the top-line growth, the company posted a substantial net loss of ₹2,384.48 lakhs for the year, reversing a profit of ₹225.01 lakhs in the previous fiscal. The company's net worth remains completely eroded with accumulated losses of ₹12,908.87 lakhs. While operations are expanding through third-party manufacturing and plant refurbishment, the audit report contains several qualifications regarding non-provision of liabilities.
- Annual Revenue from Operations increased by 191% YoY to ₹3,826.78 lakhs.
- Net Loss for FY26 stood at ₹2,384.48 lakhs compared to a profit of ₹225.01 lakhs in FY25.
- Accumulated losses reached ₹12,908.87 lakhs, resulting in total erosion of net worth.
- Audit qualifications noted regarding non-provision of employee benefits (Gratuity/Leave Encashment) and interest on unsecured loans.
- Company has refurbished one manufacturing line at Yanam and continues an exclusive manufacturing arrangement in Andhra Pradesh.
Regency Ceramics Limited has informed the exchanges of the sad demise of its Executive Chairman and Promoter, Dr. G N Naidu, on April 29, 2026. Dr. Naidu, aged 85, was the founder of the company and played a pivotal role in its growth and establishment within the ceramic industry. As a key promoter and visionary leader, his passing represents a significant leadership transition for the firm. Investors will need to monitor the company's upcoming announcements regarding a succession plan and the appointment of a new Chairman.
- Demise of Executive Chairman and Promoter Dr. G N Naidu occurred on April 29, 2026
- Dr. Naidu was 85 years old and served as the founder of Regency Ceramics Limited
- The company credited him with playing a pivotal role in its growth and industry standing
- Disclosure made in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015
Regency Ceramics Limited has announced the successful passage of two ordinary resolutions via postal ballot regarding material Related Party Transactions (RPT) with Ms. Radhika Prasad Narala, a Promoter and Non-Executive Director. Both resolutions received overwhelming support from public shareholders, with 99.9684% of the votes cast in favor. The voting process concluded on March 28, 2026, with 3,604,708 votes polled from the public non-institutional category. This approval ensures the company remains compliant with SEBI Listing Obligations and Disclosure Requirements for its ongoing business dealings with promoters.
- Approval and ratification of material Related Party Transactions with Promoter Ms. Radhika Prasad Narala.
- Both resolutions passed with a massive 99.9684% majority of the votes polled.
- A total of 3,604,708 votes were cast by public non-institutional shareholders during the e-voting period.
- The scrutinizer, Nagaraju & Associates, confirmed the voting process was conducted in a fair and transparent manner.
- The voting results were based on a record date of February 20, 2026, involving 14,007 shareholders.
Regency Ceramics Limited has informed the stock exchanges that its trading window for dealing in company securities will be closed starting April 01, 2026. This action is a standard regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the release of financial results. The closure pertains to the audited financial results for the quarter and full year ending March 31, 2026. The window will remain closed until 48 hours after the results are officially declared to the public.
- Trading window closure effective from April 01, 2026
- Closure is in relation to audited financial results for the quarter and year ended March 31, 2026
- Window to reopen 48 hours after the declaration of financial results
- Compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015
Regency Ceramics Limited has issued a postal ballot notice to seek shareholder approval for material related party transactions with promoter Radhika Prasad Narala. The company intends to establish a borrowing limit of up to ₹100 crore from the promoter to meet its financial requirements. Additionally, the company is seeking retrospective ratification for ₹19.91 crore in unsecured loans already availed from the same promoter during the current financial year. This indicates a heavy reliance on promoter support for liquidity and operational funding.
- Proposed borrowing limit of up to ₹100 crore from Promoter and Non-Executive Director Radhika Prasad Narala.
- Seeking ratification for ₹19.91 crore in unsecured loans already provided by the promoter.
- E-voting period for shareholders is set from February 27, 2026, to March 28, 2026.
- The transactions are classified as material Related Party Transactions (RPT) requiring ordinary resolutions.
- Results of the postal ballot are expected to be announced on or before March 31, 2026.
Financial Performance
Revenue Growth by Segment
Total Income from Operations for Q2 FY26 (ended Sept 30, 2025) was INR 3.40 lakhs, representing a 35.97% decline compared to INR 5.31 lakhs in Q1 FY26. The company operates in a single reportable segment (Ceramic Tiles), making segment-wise growth identical to overall growth.
Geographic Revenue Split
Not disclosed in available documents; however, the company is based in Hyderabad and its plant is located in Yanam, suggesting a primary focus on the Indian domestic market.
Profitability Margins
The company reported a Net Loss of INR 3.14 lakhs in Q2 FY26 compared to a Net Profit of INR 1.23 lakhs in Q1 FY26. For the full year ended March 31, 2025, the company incurred cash losses of INR 180.33 lakhs, an improvement from the INR 564.73 lakhs loss in the preceding year (a 68% reduction in cash loss).
EBITDA Margin
Operating Loss before working capital changes for the year ended March 31, 2025, was INR 769.49 lakhs, which widened by 133.28% from a loss of INR 329.86 lakhs in the previous year. This indicates that core operations are not yet self-sustaining during the revival phase.
Capital Expenditure
Purchase of Assets (including Capital Advances) was INR 16.05 lakhs for the year ended March 31, 2025, compared to INR 242.14 lakhs in the previous year, representing a 93.37% decrease as the company focuses on reviving existing assets rather than new expansion.
Credit Rating & Borrowing
Long-term borrowings stood at INR 8,358.57 lakhs as of March 31, 2025, up 18.52% from INR 7,052.57 lakhs. The company relies heavily on unsecured loans from Directors and Body Corporates, for which interest has not been provided, masking the true cost of debt.
Operational Drivers
Raw Materials
Cost of Materials Consumed was INR 1,267.32 lakhs for the half-year ended September 30, 2025, representing 50.43% of total expenses (INR 2,512.82 lakhs). Specific material names like clay or feldspar are not explicitly listed but are standard for ceramic tile production.
Key Suppliers
Not disclosed in available documents; however, the company has outstanding dues to Micro, Small and Medium Enterprises (MSME) for which interest on overdue amounts exceeding 15 days has not been provided.
Capacity Expansion
The company is currently in the process of reviving its operations following a long-term lockout since January 31, 2012. Current installed capacity is not specified, but fixed assets are disclosed at a book value of INR 48.45 lakhs after scrapping certain machinery.
Raw Material Costs
Raw material costs for the half-year ended Sept 2025 were INR 1,267.32 lakhs. The company is managing costs through a revival strategy, but auditors noted that inventory valuation (INR 3,227.55 lakhs) could not be verified for accuracy, potentially impacting reported material costs.
Manufacturing Efficiency
Capacity utilization is likely low as the company is 'still in the process of reviving its operations.' Depreciation and amortization expenses were INR 194.46 lakhs for the half-year, reflecting the aging of the plant and machinery.
Strategic Growth
Expected Growth Rate
7.10%
Growth Strategy
The company is pursuing a revival strategy to restart its manufacturing facilities that were locked out in 2012. Growth is expected to be driven by the initiation of business activities which have already started resulting in revenue and cash flows. The strategy relies on funding via loans from directors (INR 1,306 lakhs in FY25) to bridge operational gaps.
Products & Services
Ceramic tiles, specifically marketed under the brand 'Regency Natural Tiles'.
Brand Portfolio
Regency Natural Tiles.
Market Expansion
The company is focusing on restarting its primary manufacturing unit to re-enter the ceramic tile market; specific target regions beyond the existing footprint are not mentioned.
External Factors
Industry Trends
The Indian ceramic industry is benefiting from a government push on capital expenditure and a robust services trade surplus. However, the company is currently lagging behind industry peers due to its 13-year operational hiatus.
Competitive Landscape
The company faces stiff competition from established players in the ceramic tile sector who have maintained technological parity while Regency was under lockout.
Competitive Moat
The company lacks a current sustainable moat due to its negative net worth and operational status; however, its historical brand presence in 'Natural Tiles' is the primary asset being leveraged for the revival.
Macro Economic Sensitivity
The company is sensitive to India's Gross Fixed Capital Formation (GFCF) growth, which was 7.1% for the year, as ceramic tile demand is directly linked to construction and infrastructure investment.
Regulatory & Governance
Industry Regulations
The company is subject to the Companies Act, 2013 and SEBI (LODR) Regulations. It is currently non-compliant with Ind AS-19 regarding 'Employee Benefits' (Gratuity and Leave Encashment) and has not provided for interest under the MSMED Act.
Taxation Policy Impact
The company has not provided for tax expenses due to ongoing losses; however, it has not provided for liability towards interest and penalties on old statutory dues, which poses a regulatory risk.
Legal Contingencies
The company has disclosed pending litigations in Note 29 of its financial statements. While the exact INR value is not in the snippet, the auditors have highlighted this as a factor impacting the financial position.
Risk Analysis
Key Uncertainties
There is a 'Material Uncertainty relating to GOING CONCERN' due to the total erosion of net worth (Other Equity at INR -9,272.39 lakhs). The company's ability to continue depends on the success of its revival plan and continued support from directors.
Geographic Concentration Risk
High concentration risk as operations are centered around a single manufacturing plant in Yanam/Hyderabad region.
Third Party Dependencies
High dependency on Directors for financing, with INR 1,306.00 lakhs in loans provided in FY25 to sustain operations.
Technology Obsolescence Risk
Significant risk as the plant was under lockout since 2012; fixed assets are disclosed at book value after scrapping some machinery, suggesting potential technological gaps compared to modern competitors.
Credit & Counterparty Risk
High risk as auditors were unable to obtain confirmation of balances from debtors, and the company has not provided for potential bad debts or employee benefit liabilities.
