1. Opening Hook
Just when the real estate cycle is pretending to revive and tiles are fighting for wall space with wallpaper, Orient Bell quietly dropped a Q3 where margins did the heavy lifting. Revenue tip-toed ahead, EBITDA sprinted, and profits finally remembered their job description. Somewhere between premium tiles, TV ads in five languages, and cost control sermons, management claims they’ve cracked the code. Or at least the gas bill.
This wasn’t a “growth at any cost” quarter. It was more “costs, sit down.” If you like stories where operational efficiency saves the day while volumes sip chai, keep reading. It actually gets interesting once the numbers stop being polite.
2. At a Glance
- Revenue up 3.6% – Growth arrived, slightly late, blamed traffic.
- EBITDA up 34.6% – Costs were bullied into submission.
- EBITDA margin +150 bps – Margins remembered their pre-inflation personality.
- PAT up 245% – From “barely there” to “oh hello.”
- Net debt ~₹0 – Balance sheet flex without gym quotes.
- 42% sales via OBTX – Experience centers doing actual experiencing.
3. Management’s Key Commentary
“Entire revenue growth has added to EBITDA
due to operational efficiency.”
(Translation: Volumes didn’t help; discipline did.) 😏
“Cost of production reduced by 4.5% on a like-for-like basis.”
(Gas prices behaved, and management didn’t panic.)
“Marketing investments continue to strengthen brand visibility.”
(Ads everywhere. Wallet lighter. Hope conversions listen.)
“Vitrified tiles now contribute 61% of sales.”
(Premium push continues; commoditized ceramics sent to the corner.)
“Working capital cycle remains healthy at 31 days.”
(Cash comes back before excuses begin.)
“Zero accidents; safety remains a top priority.”
(At least something truly flawless.)
4. Numbers Decoded
| Metric | Q3FY25 | Q3FY26 | YoY Reality Check |
|---|---|---|---|
| Revenue (₹ Cr) | 163.0 | 168.8 | Slow but alive |
| EBITDA (₹ Cr) | 8.0 | 10.8 | Costs feared this quarter |
| EBITDA Margin | 4.9% | 6.4% | Inflation blinked |
| PBT (₹ Cr) | 1.4 | 4.7 | Operating leverage cameo |
| PAT (₹ Cr) | 1.0 | 3.4 | Base effect doing overtime |
One-liner: This quarter is proof that cost control beats
