Kajaria Ceramics Limited (KAJARIACER) Q1 Results FY27 Preview: Date, Time, Expectations & Key Things To Watch

Kajaria Ceramics faces a critical test this quarter as it balances robust housing demand against a sharp surge in natural gas costs that have pressured the broader tile manufacturing sector. Investors will be looking for confirmation on the company's ability to maintain its 18-19% EBITDA margin target while managing the supply-chain disruptions and competitive pricing dynamics that defined the April-June period.

Kajaria Ceramics Limited Q1 Results Date and Time

The board meeting is scheduled for July 31, 2026, to consider the unaudited Q1 FY27 financial results.

A conference call to discuss the Q1 FY27 results is scheduled for July 31, 2026, at 4:30 PM IST.

What to expect from Kajaria Ceramics Limited's Q1 FY27 results

Management is navigating a complex cost environment where natural gas spot rates for Morbi-based operations spiked significantly above the Q4 FY26 baseline of Rs. 46.57/SCM, reaching levels near Rs. 77/SCM by June. Despite this, the company's 15% biofuel mix and aggressive cost optimization efforts remain central to maintaining the guided 18-19% EBITDA margin for FY27. While the Morbi supply vacuum in April and May provided a temporary volume tailwind for Kajaria's own plants, the restoration of 725 units by mid-June signals a return to normalized competitive intensity. The company's ability to sustain June-effective industry-wide price hikes of 10-20% will be the primary determinant of whether it can protect margins against the 33-70% regional increase in gas costs observed during the quarter. The upcoming call will focus on the net impact of these pricing actions and the initial production ramp-up of the Erode adhesive plant, which commenced operations on May 20, 2026.

Key Things To Watch

EBITDA Margin and Gas Cost Pass-through: Monitoring the impact of April-June gas price spikes on profitability.

• Management guided 18% to 19% EBITDA margin for FY27.
• April gas rates reached Rs. 73-77/SCM in affected regions compared to Q4 FY26 averages.
• Realized price per square meter will indicate the effectiveness of March and June price hikes.

Volume Growth and Morbi Dynamics: Assessing the net effect of the cluster shutdown and subsequent recovery.

• Own plants operated at full capacity from April 16 following the Morbi shutdown.
• Outsourcing channel, representing 25-30% of sales, faced a 6-week disruption.
• Management expects FY27 to be better than FY26 across performance metrics.

Strategic Capex and Adhesives Ramp-up: Tracking progress on capacity and new business units.

• Srikalahasti expansion of Rs. 210 Cr for 10 MSM GVT capacity remains on track for March 2027 completion.
• Erode adhesive plant commenced production on May 20, 2026, with 1,08,000 MT annual capacity.
• Adhesives segment reported a 17% EBITDA margin in Q1 FY26.

Capital Allocation and Working Capital: Evaluating the impact of recent corporate actions.

• Working capital cycle stood at 51 days as of March 31, 2026, improved from 65 days in December 2025.