Cera Sanitaryware Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹5,725 Cr
- P/E
- 27.75
- ROE
- 14.83%
- PEG
- -53.36
- Price to sales
- 2.73
- Debt to equity
- 0.03
- 52W high / low
- ₹6,662 / ₹4,439
- Sales growth (5Y)
- 11.27%
- EBITDA margin
- 12.65%
- Net profit margin
- 10.21%
- Promoter holding
- 54.41%
- Sales (last year)
- ₹2,097 Cr
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.[1]
Guidance scorecard · Q1 FY27 call
What Cera Sanitaryware Ltd's management guided
and where it ranks in Consumer Durables
Consumer Durables
RevenueQ1 FY27 call
10–20%- For full-year FY27, CERA Sanitaryware projects revenue growth of 18% to 20%.
- Q1 growth was volume-driven: Sanitaryware volume up ~10%, Faucetware volume up ~18%.
- Price increases (12%-16%) partially impacted revenue; full price hike effects expected in coming quarters.
- Capacity utilization in Sanitaryware improving from 61% to ~80% from June; Faucetware near full utilization (96%).
- Greenfield expansion deferred earlier but may be reconsidered by year-end if demand sustains.
- Long-term, focus on operational efficiency and market share growth; more complex SKUs likely produced in-house.
2 more points from Cera Sanitaryware Ltd's call on revenue
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MarginsQ1 FY27 call
Up 0–2%See what Cera Sanitaryware Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- For FY27, planned capital expenditure is approximately INR 43 crore.
- Investments primarily directed towards Faucetware brownfield capacity expansion, manufacturing efficiencies, digital initiatives, and strengthening operational infrastructure.
- Small additional investments (INR 2-3 crore) expected for internalizing some outsourced SKUs, involving changes in casting lines.
- Greenfield sanitaryware expansion (INR 130-150 crore) currently deferred due to subdued demand; decision to be reviewed by year-end depending on sustained demand growth.
- Expansion of Faucetware capacity underway, with increased capacity expected from Q4 FY27.
2 more points from Cera Sanitaryware Ltd's call on capex
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FundraisingQ1 FY27 call
See what Cera Sanitaryware Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
- The project segment is expected to start reflecting margin improvements from Q3 onwards as new projects begin dispatches.
- Project orders currently have pre-booked prices, affecting margin recognition, but transitions to revised pricing are expected post-Q2.
- Demand in the sanitaryware segment is improving, with capacity utilization increasing from 61% to about 80% after restarting kiln operations.
- Management is monitoring demand trends to decide on greenfield expansion, indicating confidence in sustained order growth.
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Consumer Durables
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Consumer Durables companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹166 Cr | 20.3 | |
| 2 | 40%+ | Up 2%+ | ₹100 Cr | 12.7 | |
| 3 | 40%+ | Up 0–2% | ₹3,249 Cr | 17.4 | |
| 4 | 40%+ | Up 0–2% | ₹2,081 Cr | 18.8 | |
| 5 | 40%+ | Flat | ₹2,429 Cr | 41.1 | |
| 6 | 40%+ | Flat | ₹2,163 Cr | 25.6 |
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Pro shows every company guiding 40%+ revenue growth →Full Consumer Durables rankingFinancials of Cera Sanitaryware Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Cera Sanitaryware Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 533 | 427 | 461 | 437 | 547 | 398 | 490 | 449 | 578 | 419 | 488 | 499 | 644 |
| Expenses + | 445 | 358 | 387 | 377 | 455 | 342 | 420 | 390 | 472 | 366 | 421 | 448 | 546 |
| Operating Profit | 88 | 68 | 74 | 59 | 92 | 56 | 70 | 59 | 106 | 53 | 67 | 51 | 98 |
| OPM % | 17% | 16% | 16% | 14% | 17% | 14% | 14% | 13% | 18% | 13% | 14% | 10% | 15% |
| Other Income + | 5 | 16 | 11 | 16 | 16 | 16 | 18 | 12 | 14 | 19 | 17 | -7 | 17 |
| Interest | 2 | 1 | 1 | 1 | 1 | 1 | 3 | 2 | 2 | 1 | 2 | 2 | 1 |
| Depreciation | 8 | 8 | 8 | 9 | 9 | 8 | 10 | 10 | 10 | 9 | 10 | 10 | 10 |
| Profit before tax | 83 | 75 | 76 | 65 | 98 | 63 | 75 | 60 | 108 | 61 | 72 | 32 | 104 |
| Tax % | 25% | 25% | 25% | 22% | 23% | 25% | 10% | 23% | 21% | 24% | 22% | 27% | 25% |
| Net Profit + | 63 | 56 | 57 | 51 | 75 | 47 | 68 | 46 | 86 | 47 | 57 | 24 | 77 |
| EPS in Rs | 48.39 | 43.34 | 43.74 | 39.12 | 57.69 | 36.11 | 52.79 | 35.56 | 66.35 | 36.08 | 43.92 | 18.35 | 59.97 |
Financials of Cera Sanitaryware Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 822 | 917 | 1,011 | 1,182 | 1,344 | 1,209 | 1,202 | 1,442 | 1,803 | 1,871 | 1,915 | 2,050 |
| Expenses + | 703 | 776 | 841 | 1,014 | 1,152 | 1,045 | 1,052 | 1,220 | 1,510 | 1,577 | 1,622 | 1,781 |
| Operating Profit | 119 | 141 | 171 | 168 | 191 | 164 | 150 | 221 | 293 | 295 | 293 | 269 |
| OPM % | 14% | 15% | 17% | 14% | 14% | 14% | 12% | 15% | 16% | 16% | 15% | 13% |
| Other Income + | 5 | 10 | 11 | 14 | 15 | 14 | 22 | 17 | 25 | 59 | 59 | 45 |
| Interest | 8 | 5 | 5 | 5 | 3 | 4 | 4 | 5 | 5 | 5 | 7 | 6 |
| Depreciation | 15 | 16 | 18 | 22 | 23 | 33 | 33 | 30 | 30 | 34 | 39 | 39 |
| Profit before tax | 101 | 129 | 158 | 154 | 180 | 141 | 134 | 203 | 282 | 314 | 306 | 269 |
| Tax % | 33% | 36% | 34% | 35% | 36% | 18% | 25% | 27% | 26% | 24% | 19% | 24% |
| Net Profit + | 68 | 83 | 104 | 100 | 115 | 116 | 101 | 149 | 210 | 239 | 246 | 204 |
| EPS in Rs | 52.02 | 64.17 | 79.94 | 77.08 | 88.46 | 89.14 | 77.89 | 114.84 | 161.20 | 183.89 | 191.11 | 158.32 |
| Dividend Payout % | 12% | 14% | 15% | 16% | 15% | 15% | 17% | 30% | 31% | 33% | 34% | 47% |
Financials of Cera Sanitaryware Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
| Reserves | 345 | 415 | 518 | 598 | 694 | 766 | 868 | 999 | 1,163 | 1,336 | 1,344 | 1,466 |
| Borrowings + | 68 | 35 | 34 | 24 | 18 | 33 | 28 | 37 | 46 | 40 | 63 | 47 |
| Other Liabilities + | 224 | 290 | 302 | 320 | 371 | 320 | 381 | 385 | 441 | 443 | 427 | 439 |
| Total Liabilities | 644 | 747 | 861 | 949 | 1,089 | 1,126 | 1,283 | 1,427 | 1,656 | 1,825 | 1,841 | 1,958 |
| Fixed Assets + | 215 | 226 | 266 | 279 | 305 | 350 | 330 | 321 | 320 | 356 | 380 | 372 |
| CWIP | 8 | 4 | 0 | 5 | 11 | 1 | 1 | 1 | 17 | 13 | 11 | 7 |
| Investments | 48 | 67 | 119 | 139 | 212 | 262 | 513 | 567 | 669 | 807 | 702 | 815 |
| Other Assets + | 374 | 449 | 475 | 525 | 561 | 512 | 440 | 539 | 649 | 649 | 749 | 764 |
| Total Assets | 644 | 747 | 861 | 949 | 1,089 | 1,126 | 1,283 | 1,427 | 1,656 | 1,825 | 1,841 | 1,958 |
Financials of Cera Sanitaryware Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 41 | 116 | 112 | 72 | 114 | 123 | 262 | 98 | 156 | 228 | 116 | 212 |
| Cash from Investing Activity + | -117 | -38 | -92 | -36 | -102 | -76 | -243 | -70 | -101 | -140 | 128 | -88 |
| Cash from Financing Activity + | 76 | -48 | -20 | -34 | -27 | -53 | -13 | -21 | -59 | -80 | -258 | -115 |
| Net Cash Flow | -1 | 30 | -0 | 1 | -15 | -6 | 7 | 7 | -3 | 8 | -14 | 9 |
| Free Cash Flow | -43 | 92 | 58 | 24 | 73 | 82 | 253 | 85 | 123 | 167 | 89 | 192 |
| CFO/OP | 59% | 103% | 96% | 74% | 89% | 106% | 194% | 67% | 77% | 103% | 59% | 104% |
Financials of Cera Sanitaryware Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 72 | 75 | 80 | 83 | 81 | 67 | 63 | 42 | 38 | 39 | 51 | 49 |
| Inventory Days | 120 | 109 | 98 | 104 | 101 | 128 | 96 | 154 | 167 | 148 | 163 | 139 |
| Days Payable | 46 | 48 | 58 | 50 | 53 | 52 | 81 | 104 | 93 | 75 | 77 | 77 |
| Cash Conversion Cycle | 145 | 137 | 120 | 136 | 129 | 142 | 78 | 92 | 112 | 112 | 137 | 111 |
| Working Capital Days | 43 | 47 | 43 | 56 | 58 | 66 | 30 | 37 | 43 | 44 | 65 | 204 |
| ROCE % | 32% | 30% | 31% | 26% | 27% | 19% | 16% | 22% | 26% | 25% | 22% | 19% |
Guidance history
How Cera Sanitaryware Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Up 0–2% | Planned | — | — |
| Q4 FY26 call → | 10–20% | Flat | Planned | — | — |
| Q3 FY26 call → | 10–20% | Flat | Planned | — | — |
| Q2 FY26 call → | 0–10% | Flat | None planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
11 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −27.5% | 27% |
| Last 6 months | −15.5% | 27% |
| Last 3 months | −27.4% | 5% |
The price is 57.3% below its all-time high of ₹10,402.1 (9 Aug 2024). Stocks more than 20% below their peak have their score halved, so 22 became 11.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Cera Sanitaryware Ltd: 0.4 × 27 + 0.4 × 27 + 0.2 × 5 = 22, halved to 11 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Cera Sanitaryware Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q4 FY25 earnings call analysis →
- Q1 FY26 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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