NSE: LEXUS
LEXUS GRANITO (INDIA) LTD
Makes and sells ceramic tiles (granito) for construction and flooring applications, classified under the consumer durables ceramics industry. Almost all revenue is earned in India, which contributed ₹60.5665 crore (97.9% of segment revenue) in FY26, while overseas markets contributed ₹1.3091 crore (2.1%). India operations generated ₹4.9366 crore in EBIT, with overseas showing zero EBIT. The biggest cost line is 'other operating expenses' at 84.5% of revenue, followed by raw materials at 33.3% of revenue; depreciation accounts for 10.6% and employee costs only 2.3%. Total revenue from operations for FY26 was ₹61.8756 crore on a total asset base of ₹109.2174 crore, with EBITDA margin of 18.6%. The company is listed on NSE and is based in India, with offices and directors' decisions handled domestically (the Managing Director signed multiple filings from India). AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. India (98%), Overseas (2%). Small, India-centric ceramics manufacturer in the consumer durables segment
Exhibit 1: Financial summary, FY23–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 101 | 118 | 75 | 62 |
| EBITDA (ex other income) | 5 | 1 | 7 | (1) |
| margin % | 5.1 | 1.0 | 8.8 | (1.6) |
| Owners' profit | (12) | (17) | (5) | 1 |
| EPS, as reported (₹) | (6.14) | (8.44) | (2.49) | 0.51 |
| ROE % · ROCE % | (58.1) · (8.7) | (177.9) · (18.8) | (115.3) · (1.7) | 5.7 · 6.8 |
| Debt / equity (x) | 3.39 | 6.23 | 14.91 | 3.05 |
| Cash from operations | 8 | 11 | (3) | 3 |
| Capex | (14) | (0) | (1) | (0) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 17 | 19 | 21 | 18 | 22 | 14 | 12 | 4 |
| Profit before tax | (2) | (0) | 0 | 1 | 0 | 1 | (1) | (3) |
| Net profit | (2) | 0 | 1 | 1 | 0 | 1 | (1) | (3) |
| EPS (₹) | (0.93) | 0.04 | 0.26 | 0.31 | 0.17 | 0.35 | (0.32) | (1.29) |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| India | 64 | 97.6 |
| Overseas | 2 | 2.4 |
| Total, before eliminations | 65 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| KAJARIA CERAMICS LTD | 17,760 | 32.5 | 5.67 | 20.4 | 15.6 | 20.3 | 11.7 | 20.9 |
| SOMANY CERAMICS LIMITED | 2,234 | 21.0 | 2.43 | 8.9 | 8.1 | 8.8 | 11.1 | 12.0 |
| NITCO LIMITED | 1,658 | — | 4.55 | 58.8 | 7.9 | 4.4 | 10.6 | (4.9) |
| ASIAN GRANITO IND. LTD. | 1,371 | 60.8 | 0.89 | 14.6 | 1.2 | 1.3 | 7.5 | 6.5 |
| ORIENT BELL LIMITED | 534 | 25.2 | 1.62 | 13.4 | 3.8 | 4.0 | 6.6 | 8.6 |
| EXXARO TILES LIMITED | 278 | 69.0 | 0.99 | 14.3 | 1.0 | 1.3 | — | 9.1 |
| MURUDESHWAR CERAMICS LTD | 160 | 16.3 | 0.42 | 7.3 | 2.8 | 2.9 | — | 19.2 |
| Manoj Ceramic Limited | 131 | 4.3 | — | — | — | 10.8 | — | — |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 1.2 | 1.4 | 4 of 8 | 57% |
| ROCE | 1.2 | 2.9 | 9 of 11 | 20% |
| ROE | 5.7 | 4.7 | 4 of 8 | 57% |
| Debt / Equity | 3.0 | 0.3 | 8 of 8 | 0% |
| EBITDA margin | (8.1) | 7.5 | 8 of 10 | 22% |
| Revenue growth | (80.3) | 31.3 | 11 of 11 | 0% |
| Profit growth | (529.8) | 0.6 | 10 of 10 | 0% |
| Market cap | 22 | 278 | 11 of 11 | 0% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 12 Oct 2026 · RTA certificate confirms all shares held in demat form for Q2 FY26 | compliance | minimal | — | — |
| 5 Oct 2026 · AGM 2026: All 3 resolutions passed with 99.76% approval | compliance | minimal | — | — |
| 5 Oct 2026 · Lexus Granito submits Scrutinizer Report for 18th AGM; all 3 resolutions passed | compliance | minimal | — | — |
| 30 Sept 2026 · 18th AGM held on Sept 30, 2026 via video conferencing; key resolutions tabled | board shareholder meetings | low | — | — |
| 30 Sept 2026 · Trading Window Closed for Q2 Financial Results | compliance | minimal | — | — |
| 19 Sept 2026 · Lexus Granito 18th AGM on Sep 30; book closure Sep 23 to 30 | compliance | minimal | — | — |
| 17 Sept 2026 · Book closure from 23rd to 30th September for 18th AGM | compliance | minimal | — | — |
| 17 Sept 2026 · Notice of 18th AGM on September 30, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 8 Sept 2026 · Board appoints Secretarial Auditor for 5-year term | management changes | medium | — | — |
| 8 Sept 2026 · Board approves secretarial auditor, sets 30 Sep 2026 AGM date | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.