NSE: SOMANYCERA · BSE: 531548
SOMANY CERAMICS LIMITED
Makes and sells ceramic tiles and sanitaryware/bathware through a branded distribution and project network. Tiles form the core line, with sanitaryware and bathware reaching INR 320 crore in FY26 (up 8% YoY from INR 296 crore). Sells through 3,100 dealer showrooms and exports to 62 countries. Operates Kadi and Kassar plants (both Zero Liquid Discharge units) and is adding about 9 million sq metres per year of glazed vitrified tile capacity in southern India through the Siravit Ceramics joint venture. Energy (natural gas for kilns) is the key swing cost input — a geopolitical gas disruption in March 2026 triggered tile price hikes of 16-17% and bathware hikes of ~8%. Materials make up 20.7% of revenue, employees 12.9%, other opex 27.1%, and depreciation 3.9%. Capacity utilisation ran at ~79% for the year, and the Somany Max plant reached breakeven in Q4 FY26 against a INR 9 crore loss in the same quarter a year earlier. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Ceramic tiles, Sanitaryware and bathware, Adhesives / construction chemicals. Asset-heavy, branded building products; energy-cost-sensitive margins
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2,094 | 2,479 | 2,591 | 2,659 | 2,790 |
| EBITDA (ex other income) | 207 | 187 | 251 | 219 | 253 |
| margin % | 9.9 | 7.5 | 9.7 | 8.2 | 9.1 |
| Owners' profit | 89 | 72 | 97 | 60 | 81 |
| EPS, as reported (₹) | 20.88 | 16.83 | 23.01 | 14.65 | 19.80 |
| ROE % · ROCE % | 11.2 · 14.0 | 7.5 · 11.1 | 11.9 · 16.6 | 6.9 · 12.2 | 8.1 · 12.7 |
| Debt / equity (x) | 0.61 | 0.55 | 0.40 | 0.36 | 0.27 |
| Cash from operations | 157 | 165 | 393 | 141 | 247 |
| Capex | (271) | (177) | (161) | (83) | (56) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 645 | 769 | 604 | 685 | 682 | 818 | 750 | 861 |
| Profit before tax | 17 | 25 | 11 | 19 | 25 | 54 | 50 | 60 |
| Net profit | 10 | 19 | 7 | 12 | 17 | 37 | 34 | 42 |
| EPS (₹) | 2.26 | 5.20 | 2.53 | 3.65 | 4.39 | 9.23 | 8.66 | 10.12 |
Exhibit 3: 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 | 18,554 | 31.1 | 6.07 | 21.5 | 11.8 | 14.7 | 11.7 | 19.5 |
| SOMANY CERAMICS LIMITED ◆ | 2,254 | 17.0 | 2.32 | 9.2 | 7.8 | 8.2 | 11.1 | 11.6 |
| NITCO LIMITED | 2,127 | — | 4.92 | 96.1 | (3.8) | (2.3) | 10.6 | (2.3) |
| ASIAN GRANITO IND. LTD. | 1,331 | 172.7 | 0.85 | 16.5 | 0.9 | 0.9 | 7.5 | 5.3 |
| ORIENT BELL LIMITED | 535 | 25.3 | 1.63 | 14.0 | 3.8 | 4.0 | 6.6 | 8.1 |
| EXXARO TILES LIMITED | 283 | 48.7 | 0.99 | 14.9 | 1.8 | 1.8 | — | 7.8 |
| MURUDESHWAR CERAMICS LTD | 174 | 17.8 | 0.46 | 9.9 | 2.8 | 2.9 | — | 19.1 |
| Manoj Ceramic Limited | 126 | 4.2 | — | — | — | 10.8 | — | 10.7 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 17.0 | 25.3 | 2 of 7 | 83% |
| P/B | 2.3 | 1.4 | 6 of 8 | 29% |
| ROCE | 8.2 | 1.8 | 3 of 11 | 80% |
| ROE | 7.8 | 3.3 | 2 of 8 | 86% |
| Debt / Equity | 0.3 | 0.3 | 4 of 8 | 57% |
| EBITDA margin | 11.6 | 7.8 | 3 of 11 | 80% |
| Revenue growth | 25.6 | 42.6 | 8 of 11 | 30% |
| Profit growth | 237.6 | (39.2) | 2 of 10 | 89% |
| Market cap | 2254 | 283 | 2 of 11 | 90% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 5 Nov 2026 · Audio recording of Q2 FY26-27 earnings call made available | investor communications | low | — | — |
| 5 Nov 2026 · Somany extends timeline for proposed investment in VSIPL | strategic transactions | low | — | — |
| 5 Nov 2026 · Q2 FY27 results: total income up 7.7%, net profit down 14.9% | compliance | minimal | — | — |
| 4 Nov 2026 · Q2 FY27 sales rise 25.4% and operating margin improves to 11.7% | investor communications | medium | — | — |
| 4 Nov 2026 · Somany Ceramics to raise SSWPL stake to up to 76 percent | strategic transactions | high | — | — |
| 4 Nov 2026 · Interim dividend of Rs 6 per share; record date 13 Nov 2026 | corporate actions | high | — | — |
| 4 Nov 2026 · Interim dividend of Rs 6 per share approved; subsidiary stake may rise to 76% | corporate actions | high | — | — |
| 4 Nov 2026 · Q2 FY27 consolidated revenue up 26%, PAT up 238%; Rs 6 interim dividend | results | high | — | — |
| 4 Nov 2026 · Q2 FY27 profit up 85%, Rs 6 dividend, 25% more stake in Somany Sanitary Ware | board shareholder meetings | low | — | — |
| 28 Oct 2026 · Somany Ceramics to consider interim dividend on 4 November 2026 | corporate actions | high | — | — |
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.