Overview

Detailed Summary

Orient Bell Limited manufactures, trades and sells ceramic and vitrified floor and wall tiles across India and export markets, operating multi-plant capacity with an established retail distribution network of exclusive display centres (OBTBs) and wholesale channels, focusing on premium GVT products, digital sales tools and branded marketing to drive retail demand and market share.
Q3 FY'26 showed early recovery signs: Q3 revenue grew 3.4% year-on-year and 9M revenues reached INR474 crores, while Q3 consolidated EBITDA increased 35% YoY to INR10.8 crores and 9M EBITDA rose 25% to INR26.1 crores, supported by a 4.5% like-for-like reduction in manufacturing cost and sustained gross margins in the mid-to-high 30s.
Operational discipline and working capital efficiency remain strengths: the company reports a healthy 31-day working capital cycle and is virtually net-debt free with net debt of INR0.1 crore, providing financial flexibility to invest in marketing, distribution renovation and selective product commercialization while preserving profitability.
Strategic emphasis is on premiumization, demand generation, digitization and selective distribution expansion: management is renovating existing OBTBs for quality over quantity, expanding TV advertising across languages and geographies, commercializing tile adhesives selectively, and leveraging digital visualization tools to shorten purchase cycles and differentiate customer experience in retail segments.

Sector: Consumer Durables
Industry: Ceramics
Market Cap: 459 Cr
Volatility: Moderate Risk
P/E Ratio: 37.0
Industry P/E: 49.7
PEG Ratio: 0.2
P/B Ratio: 1.4
52W High: 364.20
52W Low: 241.00

Sales CAGR

1Y: -0.44%
3Y: 0.29%
5Y: 6.04%
10Y: -1.52%

Profit CAGR

1Y: 212.09%
3Y: -56.93%
5Y: -18.33%
10Y: -10.07%

ROE

TTM: 3.78%
3Y: 2.62%
5Y: 4.28%
10Y: 5.49%

ROCE

TTM: 5.35%
3Y: 3.82%
5Y: 5.59%
10Y: 8.05%

Technicals

Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Forecasts

Peers

Consumer Discretionary Consumer Durables Consumer Durables Ceramics

Symbol	Watchlist	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
ORIENTBELL		320.00	459 Cr	36.96	1.40	0.32	3.78	5.35	2.37
CLAYCRAFT		177.90	370 Cr	13.71	1.34	0.00	16.27	18.60	0.00
EXXARO		6.58	292 Cr	102.87	1.04	0.00	1.01	4.28	0.58
MURUDCERA		30.67	184 Cr	17.09	0.49	0.00	2.84	4.96	1.83
MCPL		95.00	138 Cr	11.50	1.00	0.00	8.67	11.61	4.88
REGENCERAM		39.90	101 Cr	-4.25	0.00	0.00	28.41	-97.95	-19.77
RESTILE		7.05	69 Cr	-1143.33	0.00	0.00	0.18	-1.09	-1.05
Median: 7 Co.	—	39.90	184 Cr	13.71	1.00	0.00	3.78	4.96	0.58

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Sales	162	208	148	160	163	198	143	165	169	215
Expenses	161	197	144	153	156	190	138	156	159	200
Operating Profit	0.95	12	4.38	7.50	7.49	8.69	4.97	9.27	10	15
OPM %	0.59	5.65	2.96	4.68	4.59	4.38	3.48	5.62	6.07	7.00
Other Income	0.43	0.83	0.62	0.35	0.60	1.43	0.86	0.96	0.77	0.16
Interest	0.44	0.57	1.28	1.35	1.08	1.07	1.02	0.99	0.94	0.68
Depreciation	5.50	5.50	5.69	5.71	5.63	5.50	5.39	5.39	5.36	6.14
Profit Before Tax	-4.56	6.54	-1.97	0.79	1.38	3.56	-0.57	3.85	4.72	8.36
Tax %	26.32	24.62	5.08	-22.78	29.71	22.75	35.09	17.40	28.18	25.60
Net Profit	-3.36	4.93	-1.87	0.97	0.97	2.75	-0.37	3.19	3.39	6.22
EPS in Rs	-2.29	3.33	-1.26	0.65	0.66	1.86	-0.25	2.16	2.30	4.22

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Sales	688	659	571	492	502	654	705	674	670	665
Expenses	583	608	534	466	470	599	658	654	642	636
Operating Profit	105	52	37	26	32	56	47	21	28	29
OPM %	15.20	7.84	6.48	5.29	6.45	8.51	6.70	3.10	4.19	4.31
Other Income	4.39	22	2.32	5.54	5.23	4.19	6.13	3.58	3.00	3.24
Interest	13	7.28	8.71	8.09	5.65	4.11	2.40	1.94	4.78	4.52
Depreciation	19	15	17	21	21	21	21	21	23	22
Profit Before Tax	26	47	14	2.92	11	35	30	1.13	3.77	5.16
Tax %	42.79	15.47	34.17	-143.65	32.82	8.41	24.74	19.26	24.69	16.28
Net Profit	15	40	9.28	7.12	7.68	32	22	0.91	2.84	4.32
EPS in Rs	—	—	6.35	5.13	5.14	20.98	15.09	0.62	1.91	8.43
Dividend Payout %	4.71	1.79	7.73	0.00	9.40	4.54	6.54	80.65	25.91	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2014	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	14	14	14	14	14	14	14	14	15	15
Reserves	163	168	208	218	225	235	270	296	298	301
Borrowings	162	110	77	88	49	40	16	8.66	45	46
Other Liabilities	162	127	132	138	131	145	152	162	196	167
Total Liabilities	502	419	432	459	420	434	452	481	554	529
Fixed Assets	234	201	196	239	233	207	207	250	296	278
CWIP	4.80	0.49	1.03	1.02	0.67	0.29	0.62	2.81	0.05	0.80
Investments	20	24	6.30	6.69	6.98	7.63	8.75	9.50	10	13
Other Assets	243	193	228	212	180	220	235	219	248	237
Total Assets	502	419	432	459	420	434	452	481	554	529

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2014	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	54	51	27	41	65	19	44	34	40	33
Cash from Investing Activity	-9.24	-14	4.75	-56	-3.96	5.08	-12	-21	-63	-7.64
Cash from Financing Activity	-46	-37	-32	15	-61	-23	-29	-13	33	-4.73
Net Cash Flow	-0.72	-0.03	0.14	-0.15	0.01	0.64	2.47	-0.00	10	21

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	65.20%	65.19%	64.96%	64.90%	64.88%	64.88%	65.11%	65.34%	65.42%	65.61%	65.56%	65.92%
FIIs	0.07%	0.06%	0.08%	0.04%	0.15%	0.04%	0.13%	0.08%	0.04%	0.00%	0.00%	0.01%
DIIs	0.05%	0.05%	0.04%	0.04%	0.04%	0.21%	0.20%	0.20%	0.20%	0.04%	0.20%	0.20%
Public	34.68%	34.71%	34.91%	35.01%	34.92%	34.87%	34.55%	34.37%	34.33%	34.34%	34.24%	33.88%
Total Shareholders	15,323	16,084	16,877	17,511	16,572	16,093	15,948	15,609	15,695	15,517	15,052	14,675

Market Transactions

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Projection

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q4 FY26

Investor Presentation

Q3 FY26

Investor Presentation

Q2 FY26

Available on Pro Plan