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Cera Sanitaryware – Riding the housing market boom

While rural markets are stable, the resurgence in industrial activity and pent-up demand from tier 1 markets are driving the uptick in business volumes for Cera

February 26, 2021 / 11:14 AM IST
Cera Sanitaryware – Riding the housing market boom

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

The December quarter results of Cera Sanitaryware were rather subdued, in comparison to other building material companies, primarily due to supply chain disruptions in its core business. The concerning issues have been resolved and the management expects the growth to accelerate in 2021 driven by a surge in demand for building material products. Result snapshot Revenues for the quarter declined 3 per cent year on year (YoY) to Rs 310 crore led by a contraction in the sanitaryware business. Gross margins came in weaker...

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