Kajaria Ceramics reported a broadly in-line Q2FY26 estimates on the revenue front, however profitability beat expectations on the back of sustained cost optimization measures. Consolidated revenue stood at Rs12bn, up just 1% YoY, reflecting continued weakness in tiles volume amid sluggish domestic demand. However, EBITDA rose sharply by 34% YoY to Rs2.1bn, aided by savings in packaging, procurement, and manpower costs, translating into a margin of 18% (+452bps). PAT came in at Rs1.3bn (+58% YoY). Management highlighted that short-term pain from the ongoing unification of sales and operations has...