Somany Ceramics is fundamentally a surface-and-fixtures company - it makes the tiles that cover floors and walls, and the sanitaryware and faucets that complete bathrooms, for homes and commercial buildings across India. Founded in 1968 as a joint venture with a British tile maker and later bought out by the Indian promoters, it has spent five decades evolving from a single-product tile manufacturer into a full interior-solutions brand, now the country’s second-largest tile producer by capacity. The recurring approach is to blend in-house manufacturing with joint ventures and outsourcing partners, so it can serve demand across the country without carrying all the production assets on its own books. # Business segments A single surface-and-fixtures platform built around one dominant engine - tiles - with two smaller, complementary engines in bathware and adhesives that ride the same dealer network and brand. ## 1. Tiles: the core surface-covering engine **Somany makes and sells ceramic and vitrified tiles through a hybrid model - roughly a quarter of sales value comes from its own plants, a third from joint ventures, and the rest from outsourced partners, giving it national reach without owning all the capacity.** - **Three tile types, one deliberate shift** - the portfolio spans Ceramic Tiles (stain-resistant wall and floor tiles for interiors), Glazed Vitrified Tiles or GVT (matt, glossy and rustic finishes for floors, walls, stairs and countertops, including large-format slab ranges), and Polished Vitrified Tiles or PVT (mirror-finish floors), but the company has been steadily tilting the mix toward GVT because it carries the best margins of the three. In FY26, GVT sales rose 3% while ceramic and PVT each fell 3%, continuing a shift that had already taken GVT from 32% of the mix in FY23 to 36% by Q4 FY24. - **Seven plants plus partners equal roughly 75-80 million square metres of annual capacity** - own manufacturing capacity stands at about 52 million square metres across seven plants in Punjab, Haryana, Gujarat and Andhra Pradesh, with the balance coming from joint ventures and dedicated outsourcing tie-ups, making Somany the second-largest tile producer in India by capacity. The company sold about 71 million square metres of tiles in FY25, with overall capacity utilisation at roughly 79% for FY26. - **Plants placed to cut logistics costs and dodge regional disruptions** - the Kassar plant in Haryana serves the northern market with low local competition, the Kadi plant in Gujarat sits near a port and highways for cheaper transport, and the Somany Max plant in Morbi uses SACMI-ITALY’s Continua+ technology (the first such plant commissioned in 2023) for high-speed, fuel-efficient production of large-format tiles with 3D textures. When a US-Iran conflict in early 2026 caused gas shortages and fuel-price spikes, the company’s spread of plants across North and South India let it keep production stable. - **Fuel flexibility is a quiet cost lever** - natural gas is the single biggest input cost, and the company developed the ability to switch between LPG and LNG at its plants, so it can choose the cheaper fuel when prices swing; the Kassar plant also adopted biomass fuel in lieu of fossil fuels in its kilns. This matters because the Morbi cluster - where much of India’s unorganised tile capacity sits - used to run on cheaper LPG and propane bought in cash, but those units are now being forced onto the same gas sources as organised players, narrowing their cost advantage and letting branded players like Somany gain share when Morbi output is disrupted. - **Patented surfaces and a large design studio differentiate the product** - VC Shield, patented in 2005/2009, is India’s highest abrasion-resistant tile and won the company recognition as the first Indian ceramic tile company to secure a patent under the Indian Patent Act, while Temp Shield tiles have a Solar Reflective Index exceeding 90, are IGBC-certified, and support energy efficiency. The company runs what it describes as “possibly the largest design studio” in the sector, launched over 2,000 new designs in a single year, and introduced double digital Shape Tech at the Max plant to create micro-relief textures without needing master and punch inventories. ## 2. Bathware: the bathroom-completion engine **Sanitaryware and bath fittings together contribute about 11% of sales, turning Somany from a tile supplier into a complete bathroom-solutions brand that captures more of the dealer’s wallet.** - **Sanitaryware is made in a joint venture, faucets in a wholly-owned plant** - the sanitaryware range (toilets, basins, vanity cabinets, urinals) is produced at a JV plant in Morbi, Gujarat with capacity of 0.48 million pieces per year, while bath fittings (faucets, shower columns, accessories) come from a wholly-owned plant in Derabassi, Punjab with capacity of 1.30 million pieces per year, doubled from 0.65 to 1.13 million pieces per annum during FY23. Sanitaryware capacity utilisation jumped from 39% in Q4 FY24 to 83% in Q4 FY26, while the faucet plant ran at optimum capacity in the same quarter. - **Sold through the same dealer network as tiles** - the bathware business earns on a per-piece basis and is designed to lift margins above the commodity-tile average by selling complementary products to the same trade partners, with the “French Collection” brand used across both sanitaryware and bath fittings to create a premium sub-range. Sanitaryware revenue reached INR 320 crores in FY26, up from INR 296 crores the year before. ## 3. Adhesives and construction chemicals: the installation-companion engine **A small but growing line of tile adhesives and construction chemicals that turns the act of laying a tile into an additional sale.** - **In-house production started in 2018, expanded by acquisition in 2025** - the company began making EzyFix adhesive at its own plants in Bahadurgarh (Haryana) and Ahmedabad (Gujarat), and in July 2025 acquired a 51% stake in Dura Build Care Private Limited, a construction-chemicals manufacturer, to add production capacity. The “Others” segment, which includes adhesives and chemicals, contributed INR 37.18 crore in sales value in Q4 FY26. - **A natural add-on for the tile customer** - the logic is straightforward: every tile installation needs adhesive and grout, so selling these products alongside tiles captures spending that would otherwise go to a third party, while deepening the company’s positioning as a full interior-solutions provider. # Group structure and partners **Somany runs a web of subsidiaries, joint ventures and associate companies that hold manufacturing capacity across tiles, sanitaryware, bath fittings and construction chemicals - a structure that spreads capital requirements and risk while keeping brand control.** - **Tile capacity is split across own plants and JVs** - own plants at Bahadurgarh (25 msm) and Ahmedabad (11.15 msm) sit alongside JV plants at Morbi (12.04 msm) and Tirupati (8.40 msm), with the sanitaryware JV also at Morbi and the construction-chemical JV at Bahadurgarh. Key subsidiaries include Somany Piastrelle (100%, tiles), Somany Max (80%, large-format tiles and slabs, commissioned January 2024 at an investment of roughly Rs. 185 Crores), Sudha Somany Ceramics (60%, tiles/sanitaryware/faucets), and Somany Sanitaryware (51%). - **The company actively prunes and reshapes the group** - in FY25 it exited an associate company, Acer Granito, and a subsidiary, Amora Tiles, releasing nearly Rs. 20 Crores in capital and shedding an underperforming ceramic wall-tile business, and in August 2023 it sold its 51% stake in Somany Fine Vitrified. A scheme of amalgamation is underway to merge three wholly-owned subsidiaries - Somany Bathware, Somany Excel Vitrified, and SR Continental - into the parent company, with an appointed date of 1 April 2025 and shareholder approval secured in June 2026 with 99.99998% votes in favour. - **An international JV and a captive solar plant round out the structure** - the company committed up to Rs. 62.5 Crores for a 30% stake (with the right to go to 50%) in Cerapro Nepal, a tile-manufacturing JV in Nepal with planned capacity of about 3.5 million square metres per year. It also holds a 49% stake in Clean Max Ananta, an SPV with CleanMax Enviro Energy Solutions to set up a 9.9 MWp solar captive generating plant in Sirsa, Haryana, supplying renewable energy to Somany’s operations.