Pursuant to the provosions of Regulation 30 of the Listing Regulations, enclosed herewith is the Transcript of the Earnings call held by the Company on Tuesday, 18th November, 2025 with ....
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Manoj Ceramic filed the transcript of its H1 FY26 earnings call held on November 18, 2025. For the half year ended September 30, 2025, revenue rose 23.38% YoY to Rs 81.62 crore while profit after tax grew 35.11% YoY to Rs 5.53 crore, with stable EBITDA margins at 13.58%. Management reiterated a 20-25% to 30% CAGR growth target over the next three years and plans to scale exports from 1% to nearly 20% over the same period, leveraging operations in Burundi, Angola, Sudan, Senegal and the new Dubai display center inaugurated in August 2025. The company is pushing its B2C channel (margins of 35-40%) over B2B (20-30%), has begun backward integration in the natural stones division, and launched AI-based design visualisation tools on its website. Promoter holding dipped post a recent preferential allotment but is set to rise to about 54% after warrant subscription at Rs 161.
Strong H1 numbers with profit growth outpacing revenue growth suggest operating leverage is kicking in, and management's reiteration of its 25-30% multi-year CAGR target should support investor confidence. The pending promoter warrant subscription at Rs 161 acts as a soft floor for the stock, while the B2C and export push are the key margin levers to watch in coming quarters.