Quarterly Performance update

Cera Sanitaryware Ltd – Q3 FY23 Results Update

Cera Sanitaryware Ltd

Cera Sanitaryware Ltd is engaged in the business of manufacturing, selling and trading of various kinds of building products. It also has non-conventional wind & solar power for captive use in the state of Gujarat

(A) Quarterly Results – QoQ & YoY

Cera Sanitaryware Ltd - Performance Snapshot

(B) Key Operational Parameters - QoQ

Cera Sanitaryware Ltd - Key Margins

(C) Shareholding changes

Cera Sanitaryware Ltd - Shareholdings

(D) Sales Classification for Q3FY23

Cera Sanitaryware Ltd - Sales classification

(D) Q3FY23 - Key Highlights from Management Discussion

(i) Business Performance

  • Throughout the quarter, Cera didn't taken any price hike.
  • Sanitaryware capacity utilisation reported at 105%, and faucetware capacity utilisation was at 115%.
  • Furthermore, To expand production to 4 lakh pieces per month, a faucetware expansion programme will be started in July 2022 and is anticipated to be operational in July 2023. By March 2024, this will yield a monthly output of 4 lakh pieces.
  • Company initiated manufacturing of some products inhouse, which has been importing from china previously.

(ii) Future Outlook

  • In addition, CERA is going to begin a faucetware expansion programme to increase capacity to 4 lakh pieces per month in July 2022, with an expected start date of July 2023.
  • A land in Gujarat has been selected for the company's search for a new greenfield facility. The process of converting property is anticipated to take 6 to 9 months.
  • The management iterated that it anticipates doubling its sales levels in 40 months from ₹1,440 crore in FY22
  • To fund new capex company will use internal accruals and a little bit of cash & cash equivalent if required to fund its plan.

Click to read Detailed Stock Research on CERA - Sanitaryware Ltd

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References:  Annual Reports, News Publications, Investor Presentations, Corporate Announcements, Management Discussions, Analyst Meets & Management Interviews, Industry’s Publications.

Disclaimer: The report only represents personal opinions and views of the author. No part of the report should be considered as recommendation for buying/selling any stock. Thus, the report & references mentioned are only for the information of the readers about the industry stated.

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