Company Overview
Exxaro Tiles Limited (BSE: 543327, NSE: EXXARO) submitted its Annual Report for FY 2025-26 to BSE and NSE pursuant to SEBI Regulation 34, along with notice for the 19th Annual General Meeting scheduled for September 26, 2026.
Financial Performance
Consolidated Results: The company reported a significant turnaround with net profit of ₹283.10 lakhs in FY26 compared to a net loss of ₹12.16 lakhs in FY25. Revenue from operations remained stable at ₹30,490.30 lakhs (FY26) versus ₹30,421.49 lakhs (FY25).
Standalone Performance: Standalone revenue declined to ₹28,182.28 lakhs but achieved net profit of ₹210.58 lakhs versus prior year loss of ₹78.26 lakhs. The board recommended no dividend for FY26 to conserve liquidity.
Key Ratios: The company showed improvement across several metrics - current ratio improved to 1.70 (7.12% increase), debt-service coverage ratio rose to 1.31 (9.59% improvement), return on equity reached 1.02%, and net profit ratio improved to 0.93%.
Operational Highlights
Production & Capacity: The company maintains combined installed capacity of 1.32 crore square meters across Padra and Talod plants, with 80% overall utilization (Padra: 84%, Talod: 77%).
Market Presence: Export operations span 11 countries including Bhutan, Bulgaria, Croatia, Ghana, Iraq, Libya, Morocco, South Africa, Sudan, Tunisia, and Panama, with domestic distribution across 27 Indian states.
Corporate Developments
Subsidiaries: Exxaro Ceramic Limited remains a wholly owned subsidiary, while the company incorporated new Dubai subsidiary Aresta General Trading FZE in March 2026.
Management Changes: Mr. Himanshu Shah resigned as CFO effective September 6, 2025, with Mr. Jigneshbhai B. Patel appointed as new CFO effective November 18, 2025. Mr. Miten Majmundar was appointed as Additional Independent Director.
Board Re-appointments: Mr. Mukeshkumar B. Patel was re-appointed as Chairman and Managing Director, while Mr. Kirankumar Bhikhalal Patel and Mr. Dineshkumar Ramanlal Patel were re-appointed as Whole Time Directors for 5-year terms.
Financial Position
Borrowings: Total borrowings stood at ₹9,030.96 lakhs (consolidated) with capital gearing ratio (net debt to equity) improving to 0.32 from 0.33 in FY25.
Contingent Liabilities: Decreased to ₹12,392.93 lakhs from ₹15,630.36 lakhs, primarily due to reduction in EPCG obligations. Significant disputed tax demands include income tax of ₹768.28 lakhs and indirect tax of ₹6,459.77 lakhs.
CSR Expenditure: The company spent ₹10.00 lakhs on CSR activities focused on empowering women throughout India, exceeding the required expenditure of ₹9.50 lakhs.
Corporate Governance & Compliance
Board Composition: 7 directors total (4 Independent, 3 Non-Independent including 1 woman director) with 9 board meetings held during FY26.
Auditors: M/s. H. B. Kalaria & Associates re-appointed as statutory auditors for 5 years until the 23rd AGM in 2030.
AGM Arrangements: The 19th AGM will be conducted virtually on September 26, 2026, with e-voting managed by NSDL from September 23-25, 2026, and record date set for September 19, 2026 for determining voting rights.