Somany Ceramics Limited (SOMANYCERA)
₹580.10 -0.98% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Somany Ceramics' revenue was ₹750 Cr (+24.1% year on year, -8.4% on the previous quarter), and net profit ₹34.2 Cr (+389.0% year on year); the operating margin was 11.5%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹750 | +24.1% | -8.4% |
| Operating profit | ₹86.2 | +79.6% | -6.6% |
| Net profit | ₹34.2 | +389.0% | -8.5% |
| EPS (₹) | 8.66 | +242.3% | -6.2% |
| Operating margin | 11.5% | — | — |
SOMANYCERA delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 59.04% of the SOMANYCERA shares traded on NSE were taken to delivery, against the stock's own 20-session average of 56.03%. That is close to its usual level. Volume was 0.4 times its average, well below normal.
Delivery in the last 5 sessions: 59.2% · 63.5% · 59.6% · 57.2% · 59.0%
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
Somany Ceramics Limited has extended the timeline to acquire up to a 49% stake in Siravit Ceramics Private Limited (SCPL) by an additional 3 months to January 8, 2027. The proposed investment was approved on July 13, 2026, for an amount of up to Rs 58.80 crore via equity and/or preference shares. The investment is slated to be executed in tranches aligned with the funding requirements and execution progress of SCPL's manufacturing facility. The proposed investment of Rs 58.80 crore represents approximately 6.6% of Somany's net worth (Rs 891 crore) and ~2.0% of TTM revenue.
- Proposed investment limit remains capped at up to Rs 58.80 crore
- Acquisition target represents up to 49% shareholding in Siravit Ceramics Private Limited
- Timeline extended by 3 months from original 90-day window to January 8, 2027
- Capital deployment will occur in tranches based on plant implementation progress
Somany Ceramics released an investor update outlining growth plans, targeting an EBITDA margin expansion from 9.3% to ~11.3% in FY27, and a further 100 bps in FY28. The company is adding ~20% capacity across FY27E and FY28E, highlighted by a planned ₹220 crore greenfield expansion (9+ MSM GVT capacity) in South India over 12-15 months with ₹350+ crore revenue potential. Additionally, debottlenecking will add ~5 MSM GVT capacity generating ₹200+ crore revenue, while JV turnarounds are expected to deliver a ₹35-40 crore PBT swing.
- Targets EBITDA margin expansion from 9.3% to ~11.3% in FY27 and an additional 100 bps in FY28
- Planned ₹220 crore capex for 9+ MSM GVT expansion in South India over 12-15 months (potential revenue ~₹350+ crore)
- ~5 MSM incremental GVT debottlenecking with minimal capex, offering ~₹200+ crore revenue potential
- JV turnaround projected to generate a PBT swing of ~₹35-40 crore as JV performance recovered from -₹24 crore in FY26 to targeted +₹14 crore in FY27E
- Bathware revenue targeted to scale from ₹319 crore in FY26 to ₹500 crore by FY28E
Somany Ceramics has scheduled physical group meetings with sell-side analysts and institutional investors/fund managers in Mumbai on Friday, September 11, 2026. The sell-side interaction is set for 01:30 PM, followed by institutional investors at 03:30 PM. The company stated discussions will strictly cover publicly available information without any unpublished price sensitive information (UPSI).
- Meeting date: Friday, 11th September, 2026
- Session 1: Sell Side Analysts at 01:30 PM (Physical – Mumbai)
- Session 2: Institutional Investors/Fund Managers at 03:30 PM (Physical – Mumbai)
- No unpublished price sensitive information (UPSI) will be discussed
Somany Ceramics reported an improvement in EBITDA margin by 3.6% YoY to 11.6% in Q1 FY27, aided by capacity utilization rising to 83% (from 72%) and JV operations turning profitable at ₹3 crore (vs a loss of ₹10 crore YoY). To combat rising gas costs (blended natural gas at ₹68-75/scm), the company implemented price hikes of 16-18%. Management also announced a new 9+ million sq m plant in South India with an estimated annual revenue potential of ₹350 crore (~11.9% of TTM revenue), expected to be operational in 12-15 months. Working capital days improved significantly from 17 days to 12 days.
- EBITDA margins expanded by 3.6% YoY to reach 11.6% on operational efficiencies and higher plant utilization.
- Standalone capacity utilization rose from 72% in Q1 last year to 83% in Q1 FY27.
- Announced 9+ million sq m capacity expansion in South India with ₹350 crore potential revenue within 12-15 months.
- Implemented 16% to 18% price increases to pass through higher natural gas costs.
- Working capital cycle reduced to 12 days from 17 days.
Somany Ceramics concluded its 58th Annual General Meeting on August 12, 2026, with shareholders approving all resolutions. A final dividend of ₹2 per share (100% of face value) for FY26 was ratified. Notably, while the re-appointment of Director Ghanshyam Girdharbhai Trivedi passed, 54.12% of institutional votes were cast against it. Material Related Party Transactions with Sudha Somany Ceramics were also approved with 99.93% majority among non-interested voters.
- Final dividend of ₹2 per equity share approved for the financial year ended March 31, 2026.
- Institutional investors showed significant dissent with 54.12% (4,007,351 votes) against the re-appointment of Director Ghanshyam Girdharbhai Trivedi.
- Material Related Party Transactions with Sudha Somany Ceramics Private Limited approved with 99.93% of votes in favour.
- Total of 32,443 shareholders were on record as of the August 5, 2026 cut-off date.
- Overall voting turnout for the dividend resolution stood at 73.53% of the total share capital.
Somany Ceramics Limited has announced the results of its 58th Annual General Meeting held on August 12, 2026. Shareholders approved a final dividend of ₹2 per equity share (100% of face value) for FY26. All resolutions passed with the requisite majority, including material related party transactions with Sudha Somany Ceramics Private Limited. Notably, there was significant institutional dissent (54.12% against) regarding the re-appointment of Director Mr. Ghanshyam Girdharbhai Trivedi, though the resolution passed due to promoter support.
- Final dividend of ₹2 per equity share approved for the financial year ended March 31, 2026.
- Material Related Party Transactions with Sudha Somany Ceramics Private Limited approved with 99.93% of votes cast in favor.
- Institutional investors cast 40,07,351 votes (54.12% of institutional votes polled) against the re-appointment of Director Mr. Ghanshyam Girdharbhai Trivedi.
- Total of 32,443 shareholders were on record as of the August 5, 2026 cut-off date.
- Overall voting turnout represented 73.53% of the total 4,10,12,806 outstanding shares.
Somany Ceramics has released the audio recording of its Q1FY27 earnings conference call held on August 12, 2026. The call covers the financial performance for the quarter ended June 30, 2026, providing management insights into the company's 7-9% growth outlook. This follows a fiscal year (FY26) where the company generated Rs 2,789 Cr in revenue with an operating margin of 9.2%. The recording is a standard regulatory disclosure to ensure transparency for all shareholders.
- Earnings conference call conducted on August 12, 2026, for the quarter ended June 30, 2026.
- Management is pursuing a strategy to increase the bath ware and sanitary ware segment from 12% to 15-16% of total revenue.
- The company is targeting a 150 bps EBITDA margin improvement through higher capacity utilization in the second half of the year.
- Divestment of stakes in ATPL and AGPL for a total consideration of Rs 10.55 Cr is currently underway.
- The company added 119 net dealers in H1 FY26, expanding its retail reach to approximately 3,000 dealers.
Somany Ceramics concluded its 58th Annual General Meeting on August 12, 2026, where shareholders approved the audited financial statements for FY26. A final dividend of ₹2 per equity share (100% of face value) was declared for the year. Key resolutions included the re-appointment of a retiring director and the approval of material related-party transactions with Sudha Somany Ceramics Private Limited. Management addressed queries regarding the company's FY26 performance, which saw a TTM revenue of ₹2,789.4 Cr and a PAT of ₹73.7 Cr.
- Final dividend of ₹2 per equity share (100% of face value) approved for FY26.
- Adoption of Audited Standalone and Consolidated Financial Statements for the year ended March 31, 2026.
- Approval of material related-party transactions with M/s Sudha Somany Ceramics Private Limited.
- The meeting concluded within 49 minutes, including the e-voting window.
- Management reiterated focus on the 150 bps EBITDA margin improvement target mentioned in previous filings.
Somany Ceramics reported a robust Q1 FY27 with consolidated revenue growing 23.7% YoY to ₹744 crore. Profitability saw a sharp surge as PAT (controlling interest) jumped 242.7% to ₹36 crore, driven by EBITDA margins expanding from 8.0% to 11.6%. The company also announced a strategic expansion with a new 9 million+ sqm annual capacity plant in South India for Glazed Vitrified Tiles. Despite industry-wide supply disruptions in Morbi, the company maintained a healthy tiles capacity utilization of 80%.
- Consolidated revenue increased 23.7% YoY to ₹744 crore in Q1 FY27
- EBITDA margins expanded by 360 bps to 11.6% from 8.0% in the previous year
- Announced a new manufacturing facility in South India with 9 million+ sqm annual capacity
- Tiles sales volume grew to 16.46 msm compared to 16.01 msm in Q1 FY26
- Consolidated Net Debt to Equity ratio remains low at 0.12x as of June 2026
Somany Ceramics delivered a strong Q1 FY27 performance with consolidated revenue growing 23.7% YoY to ₹744.20 Cr. Net profit witnessed a massive 365.7% YoY jump to ₹34.23 Cr, largely due to a low base in the previous year's first quarter (₹7.35 Cr). While YoY growth is robust, performance showed a slight sequential decline from Q4 FY26, where revenue was ₹811.97 Cr and profit was ₹37.40 Cr. The company maintains a healthy balance sheet with a debt-to-equity ratio of 0.15.
- Consolidated Revenue from operations increased 23.7% YoY to ₹744.20 Cr from ₹601.47 Cr.
- Consolidated Net Profit surged to ₹34.23 Cr, a 365.7% increase compared to ₹7.35 Cr in Q1 FY26.
- Consolidated EPS rose significantly to ₹8.66 from ₹2.53 in the year-ago period.
- Power and Fuel expenses remained a major cost component at ₹146.50 Cr, representing 19.7% of revenue.
- Standalone revenue stood at ₹687.68 Cr with a standalone net profit of ₹35.11 Cr.
Somany Ceramics has announced its participation in the Equirus India Growth Summit scheduled for August 13, 2026, in Mumbai. The company officials will engage in one-to-one and group meetings with institutional investors and fund managers. Discussions will be restricted to publicly available information, ensuring no unpublished price-sensitive information is shared. This interaction occurs as the company manages a TTM revenue of ₹2,789 Cr and targets a 150 bps EBITDA margin improvement through better capacity utilization in H2 FY26.
- Meeting scheduled for August 13, 2026, starting at 11:00 AM in Mumbai.
- Participation in the Equirus India Growth Summit for institutional investor interactions.
- Company maintains a TTM revenue of ₹2,789.4 Cr with an OPM of 9.2%.
- Strategic focus remains on increasing sanitaryware/bathware revenue share from 12% to 15-16% within 24 months.
- Current promoter holding stands stable at 55.2% as of June 2026.
Somany Ceramics has rescheduled its Q1FY27 earnings conference call from the previously announced 05:00 P.M. to 06:00 P.M. IST on Wednesday, August 12, 2026. The call will feature MD & CEO Mr. Abhishek Somany to discuss the company's financial performance for the quarter ended June 30, 2026. This follows a fiscal year (FY26) where the company reported TTM revenue of ₹2,789 Cr and a PAT of ₹74 Cr. All other dial-in details for the institutional investor meet remain unchanged.
- Earnings conference call rescheduled to 06:00 P.M. IST on August 12, 2026
- Original call time was set for 05:00 P.M. IST on the same date
- Discussion will focus on Q1FY27 results for the period ending June 30, 2026
- Management representation includes MD & CEO Mr. Abhishek Somany and the core team
Somany Ceramics has scheduled its Q1 FY27 earnings conference call for August 12, 2026, at 5:00 PM IST. The management team, led by MD & CEO Abhishek Somany, will discuss financial results for the quarter ended June 30, 2026. This follows a fiscal year where the company reported TTM revenue of Rs 2,789 Cr and a PAT of Rs 74 Cr. Investors will look for updates on the 7-9% growth guidance and the progress of the sanitary ware segment, which is targeted to reach 15-16% of revenue.
- Earnings conference call scheduled for August 12, 2026, at 17:00 hrs IST.
- Management to discuss performance for the quarter ended June 30, 2026.
- Company operates with a TTM revenue of Rs 2,789 Cr and a market cap of Rs 1,863 Cr.
- Focus remains on achieving the targeted 150 bps EBITDA margin improvement.
Somany Ceramics has received an NCLT order admitting the second motion petition for the amalgamation of three subsidiaries—Somany Bathware, Somany Excel Vitrified, and SR Continental—into the parent company. The merger, which has an appointed date of April 1, 2025, has already been approved by the parent company's shareholders and unsecured creditors in meetings held on June 13, 2026. The NCLT has scheduled the next hearing for August 28, 2026, marking a significant step toward final sanction. This consolidation is intended to streamline the corporate structure and integrate the bathware and vitrified tile businesses directly into the main entity.
- Merger involves 3 wholly-owned or controlled subsidiaries: Somany Bathware, Somany Excel Vitrified, and SR Continental
- Appointed date for the amalgamation is fixed as April 1, 2025
- Shareholders and unsecured creditors of the Transferee Company approved the scheme on June 13, 2026
- NCLT Kolkata Bench has set the next hearing date for August 28, 2026
- Consolidation aligns with the company's goal to grow the bathware segment to 15-16% of total revenue
Somany Ceramics has fixed August 5, 2026, as the record date to determine shareholder eligibility for the final dividend of FY 2025-26. The dividend is subject to approval at the 58th Annual General Meeting (AGM) scheduled for August 12, 2026. If approved, the payout will be completed within 30 days of the declaration. This follows a fiscal year where the company reported a TTM PAT of ₹74 Cr and a recent strong March 2026 quarter with a PAT of ₹37.4 Cr.
- Record date for final dividend eligibility is August 5, 2026.
- 58th Annual General Meeting (AGM) to be held on August 12, 2026.
- Remote e-voting facility available from August 7 to August 11, 2026.
- Dividend payment to be distributed within 30 days of the AGM declaration.
Financial Performance
Revenue Growth by Segment
Consolidated revenue grew 2.9% YoY in Q2 FY26 to INR 681 Cr. H1 FY26 revenue reached INR 1,282 Cr, a 3.6% increase YoY. The retail segment contributes 75-77% of revenue, while the project segment contributes 18-19% and exports contribute 2-2.5%. Sanitary ware and bath ware currently contribute 12% of total revenue.
Geographic Revenue Split
North India is a heavy sales territory for the company. While specific regional percentages are not disclosed, the company noted that North India was significantly impacted by heavy rains in Q2 FY26, affecting overall volume growth.
Profitability Margins
Consolidated Profit After Tax (PAT) for Q2 FY26 was INR 12 Cr, a 29% decline from INR 17 Cr in Q2 FY25. H1 FY26 PAT was INR 20 Cr, down 33.6% YoY. PBT margin for Q2 FY26 was 2.7% compared to 3.7% in Q2 FY25, primarily due to operational disruptions and losses in joint ventures.
EBITDA Margin
Consolidated EBITDA margin for Q2 FY26 was 7.9%, down from 8.5% in Q2 FY25. Core profitability was impacted by a 20-day plant shutdown at the North India facility due to a GAIL gas supply issue, which reduced margins by an estimated 1% to 1.2%.
Capital Expenditure
The company maintains a healthy financial risk profile with expected cash accruals of over INR 150 Cr, which are intended to cover term debt obligations of INR 40-50 Cr and support ongoing operational requirements. Specific planned capex figures for new plants were not disclosed in the provided documents.
Credit Rating & Borrowing
CRISIL Ratings maintains a 'Stable' outlook. Total consolidated debt stood at INR 271 Cr as of H1 FY26. Bank limit utilization is minimal at 1-2%. The company has a healthy cash balance and liquid investments exceeding INR 125 Cr following a share buyback.
Operational Drivers
Raw Materials
Raw materials (including clay and minerals) represent 30-35% of total operating costs. Natural gas and power also account for 30-35% of the total cost structure.
Import Sources
The company sources natural gas from GAIL for its North India facility. Specific sourcing locations for other raw materials are not detailed, though the industry typically sources from Gujarat (Morbi) and Rajasthan.
Key Suppliers
GAIL is a primary supplier of natural gas. Other specific raw material supplier names were not disclosed in the available documents.
Capacity Expansion
The company added 119 net dealers in H1 FY26, bringing the total to approximately 3,000 dealers and 520 exclusive showrooms. Increased sales in H2 FY26 are expected to further improve capacity utilization.
Raw Material Costs
Raw material costs are approximately 30-35% of revenue. The company intends to absorb cost fluctuations through higher operational efficiency and judicious price hikes to maintain margins above the 7% rating threshold.
Manufacturing Efficiency
Capacity utilization is a key focus; the company anticipates that improved sales in H2 FY26 will drive higher utilization, leading to a targeted EBITDA margin improvement of 150 bps.
Logistics & Distribution
The company operates through a network of 3,000 dealers and 520 exclusive showrooms to manage its domestic distribution, particularly in the rain-affected North India territory.
Strategic Growth
Expected Growth Rate
7-9%
Growth Strategy
The company aims to achieve mid-to-high single-digit growth through dealer expansion (119 added in H1), increasing exclusive showrooms to 520, and growing the sanitary ware/bath ware segment from 12% to 15-16% of revenue within 1-2 years. It also expects to benefit from Morbi players shifting focus to exports (up 7%), which vacates domestic market space.
Products & Services
Ceramic tiles, vitrified tiles, sanitary ware, bath ware, and related home decor products.
Brand Portfolio
Somany, Somany Max, Somany Vintage.
New Products/Services
Expansion in the bath ware and sanitary ware segments is expected to contribute 15-16% of total revenue in the next 12-24 months.
Market Expansion
The company is focusing on the domestic retail market (75-77% of mix) and expects a 3-4% improvement in the project/real estate segment as the buying cycle for tiles begins in new projects.
Market Share & Ranking
Somany Ceramics maintains an established market position as one of the leading players in the domestic ceramic tile industry.
Strategic Alliances
The company operates several JVs, including Somany Max and Somany Vintage. Max JV reported a loss of INR 7.5 Cr in the recent quarter. Total debt in JVs is INR 257 Cr.
External Factors
Industry Trends
The industry is seeing a shift where Morbi-based players are re-exporting more (7% growth), leaving more room for branded players like Somany in the domestic market. The industry is currently growing at low single digits but is expected to accelerate.
Competitive Landscape
Key competition comes from other large branded players and unorganized players in the Morbi cluster. The company differentiates through its extensive showroom network and bath ware expansion.
Competitive Moat
Somany's moat is built on its established brand, a vast distribution network of 3,000 dealers, and 520 exclusive showrooms. This network provides a durable advantage in the retail segment (77% of revenue).
Macro Economic Sensitivity
The company is sensitive to real estate cycles and consumer discretionary spending. Easing inflation and pickup in consumer sentiment are cited as positive drivers for H2 FY26.
Consumer Behavior
There are early signs of recovery in discretionary spending and an uptake in consumer sentiment, which is expected to drive retail tile demand in the second half of the fiscal year.
Geopolitical Risks
Export demand (up 7%) is a key factor; increased global demand for Morbi-made tiles reduces domestic competition for Somany.
Regulatory & Governance
Industry Regulations
The company is subject to environmental and pollution norms typical of the ceramic industry, particularly regarding gas emissions and energy usage at its North India facility.
Taxation Policy Impact
The effective tax rate is approximately 33%, with tax expenses of INR 10 Cr on a PBT of INR 30 Cr for H1 FY26.
Risk Analysis
Key Uncertainties
Fluctuations in natural gas prices and raw material costs (30-35% of total costs each) are primary uncertainties. A 1% increase in input costs can significantly impact the 7.9% EBITDA margin.
Geographic Concentration Risk
High concentration in North India makes the company vulnerable to regional weather patterns, such as the heavy rains that 'battered' the territory in Q2 FY26.
Third Party Dependencies
High dependency on GAIL for gas supply; the 20-day shutdown at the North India facility highlights the risk of single-source utility disruptions.
Technology Obsolescence Risk
The company is investing in product mix changes and capacity utilization to stay competitive against Morbi's evolving manufacturing capabilities.
Credit & Counterparty Risk
Receivables stood at INR 787 Cr (as part of current assets). CRISIL notes that prudent working capital management and reducing receivables are key upward rating sensitivity factors.
