Cera Sanitaryware Ltd.
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ABOUT
AI Sector View
AI GENERATEDConsumer Durables
Urban discretionary demand is mixed but investable. Credit card transactions rose 27.0% YoY (2026-06), urban CMIE sentiment was 109.5 (2026-07), and consumer spending remained large at INR 44743 billion (Jun/26), even though formal consumer confidence fell to 88.3 points (Jul/26) and debit card transactions were -9.0% YoY (2026-06). Heavy sector inflows of INR 13175 crore over 3 months to 2026-08-31 indicate strong investor positioning behind the theme.
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 22.5%
- Company has been maintaining a healthy dividend payout of 47.4%
- Company comfortably covers its interest (42.6x coverage)
- Company has a consistent dividend-paying track record
- Company generates healthy free cash flow
CONS
- Recurring exceptional / one-off items are inflating headline profit
- Operating margins have contracted to 11.2% from 15.2%
- Growth is decelerating - 3Y profit CAGR (-0.9%) trails the 5Y trend (15.0%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| KAJARIACER | 1240.35 | 35.71 | 19491.24 | 1.13 | 171.03 | 55.04 | 1328.08 | 20.43 | 23.07 | 19.69 |
| CERA | 5690.40 | 29.84 | 7339.22 | 1.32 | 47.05 | -0.86 | 422.19 | 5.36 | 19.41 | 13.05 |
| MIDWESTLTD | 1061.80 | 34.58 | 3839.56 | 0.00 | 310.39 | 1173.13 | 1918.39 | 1248.46 | 27.81 | 25.47 |
| POKARNA | 778.80 | 25.44 | 2414.59 | 0.08 | 42.60 | 50.56 | 189.42 | 10.79 | 11.85 | 35.89 |
| NITCO | 92.50 | 0.00 | 2336.33 | 0.00 | -10.33 | -121.77 | 116.02 | -22.48 | 6.58 | -7.07 |
| SOMANYCERA | 555.05 | 21.40 | 2276.42 | 1.08 | 34.23 | 365.71 | 749.56 | 24.62 | 14.43 | 11.50 |
| ASIANTILES | 50.46 | 118.71 | 1496.01 | 0.00 | 8.07 | 11.48 | 530.95 | 36.76 | 2.97 | 6.19 |
| ORIENTBELL | 418.90 | 29.19 | 616.43 | 0.24 | 8.32 | 2318.40 | 203.82 | 43.44 | 5.56 | 8.02 |
| EXXARO | 6.45 | 70.47 | 288.58 | 0.00 | 2.07 | 156.24 | 85.22 | 31.25 | 3.69 | 8.18 |
| MURUDCERA | 31.76 | 19.86 | 192.29 | 0.00 | 0.81 | -58.06 | 50.09 | 8.54 | 5.23 | 19.10 |
| GSLSU | 27.97 | 12.96 | 118.54 | 0.00 | 0.06 | 111.19 | 65.42 | -12.19 | -2.15 | 12.74 |
| PACIFICI | 141.79 | 35.50 | 97.73 | 0.00 | 1.69 | 82.31 | 63.92 | 28.72 | 1.09 | 4.45 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 427 | 461 | 437 | 547 | 398 | 490 | 449 | 578 | 419 | 488 | 499 | 644 | 486 | |
| 358 | 387 | 377 | 455 | 342 | 420 | 390 | 472 | 366 | 421 | 448 | 546 | 447 | |
| Operating Profit | 68 | 74 | 59 | 92 | 56 | 70 | 59 | 106 | 53 | 67 | 51 | 98 | 39 |
| OPM % | 16.05% | 16.11% | 13.61% | 16.85% | 14.10% | 14.20% | 13.22% | 18.27% | 12.65% | 13.76% | 10.23% | 15.21% | 7.93% |
| 16 | 11 | 16 | 16 | 16 | 18 | 12 | 14 | 19 | 17 | -7 | 17 | 21 | |
| Interest | 1 | 1 | 1 | 1 | 1 | 3 | 2 | 2 | 1 | 2 | 2 | 1 | 1 |
| Depreciation | 8 | 8 | 9 | 9 | 8 | 10 | 10 | 10 | 9 | 10 | 10 | 10 | 9 |
| Profit before Tax | 75 | 76 | 65 | 98 | 63 | 75 | 60 | 108 | 61 | 72 | 32 | 104 | 60 |
| Tax % | 25.08% | 25.30% | 21.54% | 23.40% | 25.26% | 9.59% | 23.44% | 20.81% | 23.88% | 21.58% | 26.58% | 25.28% | 24.25% |
| Net Profit | 56 | 57 | 51 | 75 | 47 | 68 | 46 | 86 | 47 | 57 | 24 | 77 | 45 |
| 43.35 | 43.74 | 39.12 | 57.69 | 36.11 | 52.44 | 35.56 | 66.36 | 36.08 | 43.92 | 18.35 | 59.96 | 35.13 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,011 | 1,182 | 1,344 | 1,209 | 1,202 | 1,442 | 1,803 | 1,871 | 1,915 | 2,050 | 2,117 | |
| 841 | 1,011 | 1,153 | 1,047 | 1,052 | 1,221 | 1,511 | 1,591 | 1,625 | 1,781 | 1,862 | |
| Operating Profit | 171 | 171 | 191 | 162 | 150 | 221 | 292 | 280 | 291 | 269 | 255 |
| OPM % | 16.90% | 14.44% | 14.19% | 13.41% | 12.48% | 15.35% | 16.21% | 14.98% | 15.17% | 13.13% | 12.03% |
| 11 | 11 | 16 | 16 | 22 | 17 | 25 | 74 | 61 | 45 | 48 | |
| Interest | 5 | 5 | 3 | 4 | 4 | 5 | 5 | 5 | 7 | 6 | 6 |
| Depreciation | 18 | 22 | 23 | 33 | 33 | 30 | 30 | 34 | 39 | 39 | 39 |
| Profit before Tax | 158 | 154 | 180 | 141 | 134 | 203 | 282 | 314 | 306 | 269 | 268 |
| Tax % | 34.38% | 35.09% | 36.14% | 17.54% | 24.54% | 26.52% | 25.58% | 23.88% | 19.47% | 24.13% | 24.21% |
| Net Profit | 104 | 100 | 115 | 116 | 101 | 149 | 210 | 239 | 246 | 204 | 203 |
| EPS | 79.94 | 77.08 | 88.46 | 89.15 | 77.89 | 114.84 | 161.20 | 183.89 | 191.11 | 158.31 | — |
| Dividend Payout % | 15.01% | 15.57% | 14.70% | 14.58% | 16.69% | 30.48% | 31.02% | 32.63% | 34.01% | 47.37% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 8%
- 5 Years:
- 11%
- 3 Years:
- 4%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 9%
- 5 Years:
- 15%
- 3 Years:
- -1%
STOCK PRICE CAGR
- 10 Years:
- 9%
- 5 Years:
- 5%
- 3 Years:
- -15%
- 1 Year:
- -12%
RETURN ON EQUITY
- 10 Years:
- 17%
- 5 Years:
- 17%
- 3 Years:
- 17%
- Last Year:
- 15%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 6 | 6 |
| 518 | 598 | 694 | 766 | 868 | 999 | 1,163 | 1,336 | 1,341 | 1,461 | |
| 40 | 41 | 41 | 54 | 50 | 58 | 67 | 63 | 86 | 69 | |
| Trade Payables | 76 | 78 | 94 | 84 | 143 | 193 | 210 | 182 | 191 | 220 |
| 219 | 225 | 254 | 215 | 216 | 171 | 209 | 238 | 217 | 202 | |
| Total Liabilities | 861 | 949 | 1,089 | 1,126 | 1,283 | 1,427 | 1,656 | 1,825 | 1,841 | 1,958 |
| 266 | 279 | 305 | 350 | 330 | 321 | 320 | 354 | 378 | 371 | |
| Capital Work in Progress | 0 | 5 | 11 | 1 | 1 | 1 | 17 | 13 | 11 | 7 |
| 119 | 139 | 212 | 262 | 513 | 567 | 669 | 807 | 702 | 815 | |
| 129 | 161 | 179 | 204 | 170 | 288 | 376 | 359 | 406 | 396 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 201 | 268 | 274 | |
| Cash & Bank | 38 | 23 | 10 | 2 | 10 | 24 | 25 | 34 | 26 | 48 |
| 309 | 342 | 372 | 306 | 260 | 227 | 248 | 57 | 50 | 47 | |
| Total Assets | 861 | 949 | 1,089 | 1,126 | 1,283 | 1,427 | 1,656 | 1,825 | 1,841 | 1,958 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 165 | 125 | 171 | 173 | 292 | 148 | 227 | 228 | 116 | 212 | |
| Cash from Investing | -92 | -36 | -102 | -76 | -243 | -70 | -101 | -140 | 128 | -88 |
| Cash from Financing | -20 | -34 | -27 | -53 | -13 | -21 | -59 | -80 | -258 | -115 |
| -0 | 1 | -15 | -6 | 7 | 7 | -3 | 8 | -14 | 9 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-10 - Cera Sanitaryware Limited has informed the Exchange about Copy of Newspaper Publication regarding Special Window for re-lodgment of Share Transfer Deed
2026-08-28 - Cera Sanitaryware Limited has informed the Exchange about Credit Rating
2026-08-12 - Cera Sanitaryware Limited has informed the Exchange about Transcript of the Q1 FY27 Earnings Conference Call held on 8th August, 2026
2026-08-08 - Cera Sanitaryware Limited has informed the Exchange about Link of Audio Recording ofQ1 FY2027 Earnings Conference Call
2026-08-08 - Cera Sanitaryware Limited has informed the Exchange about Copy of Newspaper Publication dated 8th August, 2026 regarding Extract of Unaudited Financial Results for the Quarter ended 30th June, 2026
2026-08-07 - Cera Sanitaryware Limited has informed the Exchange regarding 'Board Meeting Outcome - Investor Communication'.
2026-08-07 - Cera Sanitaryware Limited has submitted to the Exchange regarding Outcome of Board Meeting containing the financial results for the period ended Jun 30, 2026.
2026-08-06 - Cera Sanitaryware Limited has informed the Exchange about Schedule of Analyst / Investor meet to be held on 13th August, 2026
2026-07-27 - Cera Sanitaryware Limited has informed the Exchange about Q1 FY27 Earnings Conference Call to be held on 8th August, 2026
News
Recent coverage and analyst commentary for CERA
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