domestic tiles market having ~63 MSM capacity (own and JV) and sanitaryware & faucets capacity of 1.15 million (mn) pieces and 0.65 mn pieces, respectively. Somany has announced a large capex of | 160-170 crore (seeing strong demand and higher utilisation) in FY22, which will increase its overall capacity by 10 MSM and generate ~| 250-300 crore worth of additional revenue (at full capacity) and incremental margin of 200 bps Q1FY22 Results: Somany reported weak Q1FY22 sequential results. The topline was up 95% YoY, down 41% QoQ at | 329.9 crore. Tiles...