Kajaria Ceramics acquires full KBPL stake for ₹50 crore
Kajaria Ceramics Limited acquired 44,11,764 CCPS of subsidiary Kajaria Bathware Private Limited from Aravali Investment Holdings for ₹50 crore on August 6, 2026. This move completes the buyout of the minority stake held since 2018 under a Shareholders’ Agreement. Post-acquisition, Kajaria Ceramics holds 100% equity and CCPS in KBPL, which reported a turnover of ₹413.64 crore in FY26.

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Kajaria Ceramics Limited has completed the acquisition of 44,11,764 Compulsorily Convertible Preference Shares (CCPS) of its wholly-owned subsidiary, Kajaria Bathware Private Limited (KBPL), from Aravali Investment Holdings. The deal, valued at ₹50 crore, was finalized on August 6, 2026, marking the exit of Aravali as a shareholder and consolidating Kajaria Ceramics' control over its bathware manufacturing arm.
The acquisition was disclosed to BSE Limited and the National Stock Exchange of India Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Vinit Kumar, General Counsel & Company Secretary of Kajaria Ceramics, confirmed that the company now holds all equity shares and CCPS of KBPL. The transaction does not constitute a related-party transaction.
Transaction Details
Aravali Investment Holdings, a Mauritius-based wholly-owned subsidiary of WestBridge Crossover Fund, LLC, had originally invested ₹64.50 crore in KBPL in June 2018 by subscribing to the same number of CCPS. Under the Shareholders’ Agreement (SHA) executed on June 4, 2018, Aravali was entitled to an exit option via either the listing of KBPL’s equity shares or the purchase of the CCPS by Kajaria Ceramics. With this buyout, the SHA has ceased to have effect.
| Particulars | Details |
|---|---|
| Target Entity | Kajaria Bathware Private Limited (KBPL) |
| Instrument Acquired | 44,11,764 CCPS of ₹10 each |
| Seller | Aravali Investment Holdings |
| Consideration | ₹50 crore (Cash) |
| Date of Acquisition | August 6, 2026 |
| Post-Deal Holding | 100% Equity and 100% CCPS |
Financial Profile of KBPL
Kajaria Bathware Private Limited, incorporated on May 22, 2013, operates exclusively in India, manufacturing bathware products. The subsidiary has shown consistent revenue growth over the last three fiscal years, although it reported a net loss in FY26.
| Metric | FY23-24 | FY24-25 | FY25-26 |
|---|---|---|---|
| Turnover (Consolidated) | ₹363.47 crore | ₹386.20 crore | ₹413.64 crore |
| Profit/(Loss) After Tax | Not Disclosed | Not Disclosed | ₹(28.49) crore |
No governmental or regulatory approvals were required for this acquisition. The transaction represents a strategic consolidation, allowing Kajaria Ceramics to fully integrate the financial and operational performance of its bathware segment without minority shareholder obligations.
Historical Stock Returns for Kajaria Ceramics
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.89% | -2.84% | -3.30% | +27.91% | -0.98% | +15.58% |
How will the full consolidation of KBPL impact Kajaria Ceramics' consolidated EBITDA margins given the subsidiary's reported net loss in FY26?
Does Kajaria Ceramics plan to leverage its 100% ownership of KBPL to accelerate vertical integration or expand its product portfolio beyond current bathware offerings?
What specific operational synergies or cost-saving measures does management intend to implement in the bathware segment now that minority shareholder obligations have been removed?


































