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 24.8%
- Company has consistently been profitable over the last 5 years
- Company has been maintaining a healthy dividend payout of 34.0%
- Company comfortably covers its interest (42.5x coverage)
- Company has a consistent dividend-paying track record
CONS
- Receivables are growing faster than sales - a possible quality concern
- Recurring exceptional / one-off items are inflating headline profit
- Stock is trading at 5.4x its book value
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| KAJARIACER | 1244.00 | 35.81 | 19548.60 | 1.13 | 171.03 | 55.04 | 1328.08 | 20.43 | 23.07 | 19.69 |
| CERA | 5607.95 | 29.40 | 7232.88 | 1.34 | 47.05 | -0.86 | 422.19 | 5.36 | 19.41 | 13.05 |
| MIDWESTLTD | 1066.05 | 34.72 | 3854.92 | 0.00 | 310.39 | 1173.13 | 1918.39 | 1248.46 | 27.81 | 25.47 |
| POKARNA | 780.50 | 25.50 | 2419.86 | 0.08 | 42.60 | 50.56 | 189.42 | 10.79 | 11.85 | 35.89 |
| NITCO | 95.18 | 0.00 | 2404.02 | 0.00 | -10.33 | -121.77 | 116.02 | -22.48 | 6.58 | -7.07 |
| SOMANYCERA | 559.15 | 21.56 | 2293.23 | 1.07 | 34.23 | 365.71 | 749.56 | 24.62 | 14.43 | 11.50 |
| ASIANTILES | 50.11 | 117.89 | 1485.64 | 0.00 | 8.07 | 11.48 | 530.95 | 36.76 | 2.97 | 6.19 |
| ORIENTBELL | 410.00 | 28.57 | 603.33 | 0.24 | 8.32 | 2318.40 | 203.82 | 43.44 | 5.56 | 8.02 |
| EXXARO | 6.42 | 70.14 | 287.24 | 0.00 | 2.07 | 156.24 | 85.22 | 31.25 | 3.69 | 8.18 |
| MURUDCERA | 29.96 | 18.74 | 181.39 | 0.00 | 0.81 | -58.06 | 50.09 | 8.54 | 5.23 | 19.10 |
| GSLSU | 27.22 | 12.61 | 115.36 | 0.00 | 0.06 | 111.19 | 65.42 | -12.19 | -2.15 | 12.74 |
| PACIFICI | 146.95 | 36.79 | 101.29 | 0.00 | 1.69 | 82.31 | 63.92 | 28.72 | 1.09 | 4.45 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 397 | 416 | 458 | 536 | 429 | 463 | 439 | 549 | 401 | 493 | 452 | 581 | 422 | |
| 334 | 348 | 383 | 445 | 358 | 387 | 377 | 454 | 343 | 420 | 391 | 472 | 367 | |
| Operating Profit | 63 | 68 | 75 | 90 | 70 | 76 | 61 | 95 | 58 | 72 | 62 | 108 | 55 |
| OPM % | 15.82% | 16.33% | 16.39% | 16.89% | 16.42% | 16.51% | 14.00% | 17.30% | 14.49% | 14.64% | 13.61% | 18.63% | 13.05% |
| -1 | 11 | 13 | 4 | 15 | 11 | 16 | 16 | 16 | 18 | 12 | 14 | 18 | |
| Interest | 1 | 1 | 1 | 2 | 1 | 1 | 2 | 2 | 1 | 3 | 2 | 2 | 2 |
| Depreciation | 8 | 8 | 9 | 8 | 8 | 9 | 10 | 10 | 9 | 11 | 10 | 11 | 10 |
| Profit before Tax | 54 | 69 | 78 | 84 | 76 | 77 | 66 | 99 | 64 | 77 | 61 | 109 | 62 |
| Tax % | 25.62% | 25.73% | 27.34% | 24.93% | 25.41% | 25.63% | 22.15% | 23.90% | 25.54% | 10.34% | 23.98% | 21.18% | 24.34% |
| Net Profit | 0 | 0 | 0 | 0 | 0 | 57 | 52 | 76 | 47 | 69 | 46 | 86 | 47 |
| 30.36 | 39.02 | 43.38 | 48.25 | 43.27 | 43.75 | 39.12 | 57.62 | 36.18 | 52.37 | 35.52 | 66.39 | 36.10 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 917 | 1,009 | 1,185 | 1,352 | 1,224 | 1,224 | 1,446 | 1,810 | 1,879 | 1,926 | 1,948 | |
| 776 | 833 | 1,008 | 1,153 | 1,058 | 1,066 | 1,217 | 1,510 | 1,590 | 1,626 | 1,651 | |
| Operating Profit | 141 | 176 | 177 | 198 | 165 | 158 | 229 | 300 | 289 | 300 | 297 |
| OPM % | 15.40% | 17.41% | 14.96% | 14.67% | 13.52% | 12.91% | 15.82% | 16.58% | 15.40% | 15.56% | 15.24% |
| 10 | 15 | 14 | 19 | 18 | 25 | 18 | 23 | 72 | 59 | 61 | |
| Interest | 5 | 10 | 10 | 9 | 10 | 10 | 5 | 6 | 6 | 7 | 8 |
| Depreciation | 16 | 22 | 27 | 28 | 39 | 40 | 32 | 33 | 37 | 41 | 41 |
| Profit before Tax | 129 | 158 | 155 | 180 | 135 | 134 | 209 | 285 | 319 | 311 | 309 |
| Tax % | 35.53% | 36.68% | 31.50% | 36.16% | 18.05% | 25.40% | 26.80% | 25.92% | 24.32% | 19.95% | 19.68% |
| Net Profit | 83 | 100 | 106 | 115 | 111 | 100 | 153 | 211 | 241 | 249 | 248 |
| EPS | 64.17 | 78.23 | 79.33 | 88.52 | 87.08 | 77.48 | 116.18 | 161.01 | 183.77 | 191.11 | — |
| Dividend Payout % | 14.02% | 15.34% | 15.13% | 14.69% | 14.93% | 16.78% | 30.13% | 31.05% | 32.65% | 34.01% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 9%
- 3 Years:
- 10%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 17%
- 3 Years:
- 18%
STOCK PRICE CAGR
- 10 Years:
- 9%
- 5 Years:
- 5%
- 3 Years:
- -14%
- 1 Year:
- -12%
RETURN ON EQUITY
- 10 Years:
- 18%
- 5 Years:
- 17%
- 3 Years:
- 19%
- Last Year:
- 18%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 6 |
| Minority Interest | 16 | 4 | 7 | 10 | 8 | 12 | 14 | 11 | 13 | 15 |
| 414 | 516 | 599 | 694 | 764 | 865 | 1,009 | 1,166 | 1,339 | 1,344 | |
| 68 | 105 | 109 | 107 | 125 | 111 | 66 | 75 | 65 | 88 | |
| Trade Payables | 66 | 85 | 95 | 111 | 95 | 155 | 189 | 207 | 179 | 188 |
| 233 | 229 | 230 | 262 | 221 | 227 | 267 | 212 | 243 | 222 | |
| Total Liabilities | 804 | 945 | 1,045 | 1,191 | 1,219 | 1,378 | 1,552 | 1,677 | 1,846 | 1,863 |
| 230 | 345 | 360 | 385 | 439 | 415 | 337 | 339 | 372 | 397 | |
| Capital Work in Progress | 65 | 0 | 5 | 19 | 1 | 1 | 1 | 17 | 13 | 11 |
| 47 | 91 | 109 | 178 | 228 | 474 | 562 | 663 | 802 | 697 | |
| 136 | 149 | 194 | 216 | 243 | 200 | 294 | 383 | 364 | 410 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 203 | 271 | |
| Cash & Bank | 60 | 39 | 24 | 11 | 2 | 10 | 24 | 26 | 37 | 32 |
| 265 | 320 | 355 | 382 | 307 | 277 | 334 | 249 | 54 | 45 | |
| Total Assets | 804 | 945 | 1,045 | 1,191 | 1,219 | 1,378 | 1,552 | 1,677 | 1,846 | 1,863 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 144 | 153 | 129 | 181 | 180 | 298 | 141 | 235 | 236 | 122 | |
| Cash from Investing | -83 | -102 | -41 | -110 | -80 | -242 | -72 | -105 | -143 | 127 |
| Cash from Financing | -0 | 1 | -34 | -29 | -55 | -19 | -11 | -60 | -84 | -260 |
| 31 | 0 | 1 | -15 | -6 | 7 | 7 | -3 | 10 | -11 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
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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