Please find enclosed herewith the Press Release pertaining to Financial Results for the half year ended 30th September, 2025
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Manoj Ceramic Ltd (MCPL) announced its H1 FY26 results showing strong growth. Total Revenue rose 23.4% YoY to ₹81.62 Cr from ₹66.16 Cr, EBITDA grew 21.9% to ₹11.09 Cr, and Profit After Tax jumped 35.1% to ₹5.53 Cr. EBITDA margins slipped marginally to 13.58% (down 16 bps), but PAT margins improved by 58 bps to 6.78%. The company highlighted export expansion into Burundi, Angola, Sudan and Senegal, a new Dubai Display Centre for GCC and African markets, with exports expected to scale from 1% to 20% of revenue over the next three years. Domestically, six premium showrooms and new product ranges (Glue-Finish Tiles, Wooden Planks, Exotic Stones, Next-Gen Quartz) are aiding growth, while new warehouses in Pune, Bhiwandi and Nagpur are strengthening supply chain. Infomerics upgraded its long-term rating on bank facilities to IVR BBB- with outlook revised from Stable to Positive. Management guided for a sustainable 25-30% CAGR.
Strong headline numbers and an upward PAT margin trend are broadly positive for shareholders, supported by a rating outlook upgrade and management's confident 25-30% CAGR guidance. However, slight EBITDA margin compression and execution risk on the ambitious export ramp-up from 1% to 20% over three years warrant a measured short-term stock reaction.