Prism Johnson Limited
6,827words
13turns
0analyst exchanges
0executives
Key numbers — 40 extracted
rs,
₹7,404 crore
8.4%
₹693 crore
52.1%
₹646 crore
₹1,138 crore
46%
33%
21%
9.4%
6.5%
Guidance — 20 items
Volume
opening
“• FY25 FY26 • 947 896 Cement & clinker sales volume grew by 5.7% YoY to 2.1 million tonnes in Q4 FY26.”
Volume
opening
“Share of premium product (of total cement sales volume) increased to 62% in Q4 FY26 vs 46% in Q4 FY25 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 EBITDA (₹ Crs) & EBITDA% FY25 FY26 EBITDA per tonne (₹) FY25 FY26 14.0% 15.2% 1.3% 14.9% 0.2% 10.0% 12.9% 7.4% 139 108 114 115 78 70 708 654 701 579 458 337 8 2 58 11 • Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4”
Revenue
opening
“• Revenue increased by 5.7% YoY to ₹ 947 crores in Q4 FY26, supported by growth in sales volume (cement + clinker).”
EBITDA
opening
“• EBITDA per ton declined to ₹337 in Q4 FY26 from ₹579 in Q4 FY25, primarily due to a scheduled maintenance shutdown, which also resulted in a clinker inventory drawdown.”
Others
opening
“Q4 FY26 Regional Sales Breakup Uttar Pradesh 59% Madhya Pradesh 19% Bihar Other 21% 1% Product Portfolio & Premiumisation Emphasis on premium and differentiated cement offerings FY25 FY26 46% 40% 49% 43% 40% 57% 62% 46% Q1 Q2 Q3 Q4 3 • Channel Mix & Customer Engagement Primary engagement centred around the trade channel, enabled by a strong dealer network and on-ground engagement with contractors, influencers and masons.”
Others
opening
“Non-Trade Q4 FY25 Q4 FY26 Trade 73% 74% Non-Trade 27% 26% Facebook Page Followers Crossed 2 Lakhs Premium Products Champion Plus Champion Duratech Champion All Weather • Active digital outreach complementing on-ground engagement Q4 FY26 Earnings | 14 Q4 FY26 Earnings | 15 HRJ H & R Johnson | Amongst the Leading Tiles & Bath Fittings Companies in India Legacy Brand, established in 1958”
Sanitaryware manufacturing capacity
opening
“EBITDA improved by 27.7% YoY to ₹178.7 crore and margins expanding from 5.8% in FY25 to 7.3% in FY26, driven by operating leverage.”
Sanitaryware manufacturing capacity
opening
“During Q4 FY26, tile operations at Morbi were impacted by disruptions arising from the Middle East crisis, given the Company’s relatively higher dependency on Morbi region.”
Sanitaryware manufacturing capacity
opening
“Outlook – Q1 FY27 may see a temporary slowdown, reflecting the earlier disruption at Morbi and the resulting unhealthy lower level of inventory following the Q4 drawdown.”
Revenue
opening
“• Tiles Division: Revenue grew 5.2% YoY to ₹598 crore in Q4 FY26, supported by inventory reduction amid operational disruptions arising from Middle East crisis.”
Risks & concerns — 4 flagged
Outlook – Q1 FY27 may see a temporary slowdown, reflecting the earlier disruption at Morbi and the resulting unhealthy lower level of inventory following the Q4 drawdown.
— Sanitaryware manufacturing capacity
The process of rebuilding inventory to a balanced and healthy product mix is expected to be gradual, given channel requirements for a wider SKU range, which could exert some short-term pressure on volumes.
— Sanitaryware manufacturing capacity
• EBITDA margin improved by 147 basis points YoY to 9.8% in Q4 FY26, driven by higher volume, lower power & fuel costs following shutdowns of Morbi plants amid the Middle East crisis, partially offset by the impact of inventory drawdown.
— EBITDA
PrismFill Self-compacting slurry, ideal for backfilling & filling voids in difficult location PrismRustSafe Prevent corrosion of steel reinforcement in concrete structures.
— EBITDA
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Opening remarks
Volume
• FY25 FY26 • 947 896 Cement & clinker sales volume grew by 5.7% YoY to 2.1 million tonnes in Q4 FY26. Share of premium product (of total cement sales volume) increased to 62% in Q4 FY26 vs 46% in Q4 FY25 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 EBITDA (₹ Crs) & EBITDA% FY25 FY26 EBITDA per tonne (₹) FY25 FY26 14.0% 15.2% 1.3% 14.9% 0.2% 10.0% 12.9% 7.4% 139 108 114 115 78 70 708 654 701 579 458 337 8 2 58 11 • Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Revenue
• Revenue increased by 5.7% YoY to ₹ 947 crores in Q4 FY26, supported by growth in sales volume (cement + clinker).
EBITDA
• EBITDA per ton declined to ₹337 in Q4 FY26 from ₹579 in Q4 FY25, primarily due to a scheduled maintenance shutdown, which also resulted in a clinker inventory drawdown. However, power and fuel cost savings resulting from the shutdown partially mitigated the impact.
Others
• Average lead distance stood at 351 km in Q4 FY26, similar to Q4 FY25 Fuel cost decreased to ₹1.47 / Mcal in Q4 FY26 from ₹1.61 /Mcal in Q4 FY25 (1)Volume and revenue include sale of Cement & Clinker Q4 FY26 Earnings | 12 PRISM CEMENT Cost Indicators Per Tonne Metrics (₹) - Power & Fuel - Freight & Forwarding - Raw Material - Employee Cost - Other Costs - Change in Inventory & Stock in Trade Total Operating Cost per tonne Realisation per tonne EBITDA per tonne Q4 FY25 Q4 FY26 1,231 1,036 510 269 960 (48) 3,956 4,535 579 943 1,061 532 263 949 448 4,197 4,534 337 YoY -23.4% 2.4% 4.3% -2.0% -1.1% n/m 6.1% 0.0% -41.8% FY25 1,286 1,075 576 321 1,007 -48 4,217 4,568 351 FY26 1,158 1,064 552 288 915 88 4,065 4,608 543 YoY -9.9% -1.0% -4.3% -10.5% -9.1% n/m -3.6% 0.9% 54.7% Lead Distance (km) Power Consumption (kWh / Ton) Dynamic Fuel Mix (%) 396 384 380 369 376 362 10.5% 71.2 72.8 73.5 74.1 (Solar+WHRS)% 34.2% 31.3% 29.2% 32.7% 32.7% Coal Petcoke AFR 0.0% 0.0% 1.2% 3.3% 4.6% 4.1% 45.0% 38.0%
Wide product range
• • • Tiles Sanitary-ware & Bath-fittings Quartz & Engineered Marbles 22 Large Format Experience Centres • Wide Distribution Network with around • 900 dealers Launched a multimedia advertising campaign in May 2025 in regional languages across several media platforms, including television, to further strengthen brand visibility 11 Tiles Manufacturing Plants
Sanitaryware manufacturing capacity
1 joint venture plant with capacity of ~11,000 tonnes per annum 4.5 MW Solar Capacity • • Solar Capacity across HRJ own plants Rainwater harvesting contributed 17% of total water consumption in FY26 Capital Employed & ROCE (Consolidated) • • ROCE improved to 4.7% in FY26 from 3.8% in FY25 Capital Employed stood at ₹ 988 Crores Q4 FY26 Earnings | 16 HRJ w e i v e R e c n a m r o f r e P “ H & R Johnson : Resilient FY26 Growth & Margin Expansion FY26 delivered a steady revenue growth of 2.3% YoY to ₹2,447 crore, supported by both tiles and bath division. EBITDA improved by 27.7% YoY to ₹178.7 crore and margins expanding from 5.8% in FY25 to 7.3% in FY26, driven by operating leverage. During Q4 FY26, tile operations at Morbi were impacted by disruptions arising from the Middle East crisis, given the Company’s relatively higher dependency on Morbi region. Despite this, the company was able to sustain revenue growth through inventory reduction. Outlook – Q1 FY27 may see a temporary slowdown