Cera Sanitaryware announced Q3FY23 results: Q3FY23: Q3FY23 revenue stood at Rs 4,558 million EBITDA for the quarter amounted to Rs 866 million PAT stood at Rs 564 million Commenting on the performance, Mr. Vikram Somany, Chairman & Managing Director, said,“We are pleased to report continued momentum in our performance in Q3FY23 with revenues higher by 18% and PAT higher by 33% on a YoY basis. Our sanitaryware and faucetware divisions, which made up 54% and 33% of our Q3FY23 revenue respectively, registered a 19% and 12% YoY increase. Our overall performance has been positively impacted by the sustained interest from customers to improve and upgrade their homes. During the quarter gone by, we were able to achieve the optimal level of inventory days that we have been working towards for several quarters. Additionally, during Q3FY23, Cera did not have any lost sales for the seventh consecutive quarter. We are also pleased to report that the Company made notable progress in expanding the production capabilities of its faucetware division. We are confident that our faucetware capacity expansion project will be completed well on schedule. Furthermore, progress was made in selecting a suitable piece of land in the State of Gujarat for the construction of our new Sanitaryware facility. The trend of premiumization across our new-age and high-margin products remains strong, and customers are clearly demonstrating a preference for items with improved features, sleek design, and a growing technological presence. Our new Lustre Series products, which include Rose Gold, French Gold, and Platinum sanitaryware and faucetware options, have been wellreceived by customers. The response to our recent ad campaign, featuring new brand ambassadors and our increased investment in advertising and publicity, has been overwhelmingly positive. Looking ahead, we are confident that our diverse product offerings, extensive distribution network, well-established brand recognition, strong financial standing, and expansion plans will enable us to achieve sustained growth in our key business segments. By focusing heavily on retail sales, we are well suited to capitalize on the brand promise that Cera has built over the last four decades.” Result PDF
Cera Sanitaryware announced Q2FY23 results: Q2 FY23 Revenues at Rs. 4143 million EBITDA for the quarter amounted to Rs. 770 million PAT of Rs. 507 million Commenting on the performance, Mr. Vikram Somany, Chairman & Managing Director, said, “We are delighted to report strong growth during the second quarter of FY23 with revenues higher by 5.4% YoY at Rs 4143 million and PAT higher by 20.4% YoY at Rs. 507 million. This has been driven by the sustained demand for home upgradation and home improvement from customers. Our strong focus towards retail sales positions us very strongly to benefit from Cera’s brand promise created over 4 decades. Our sanitaryware and faucetware business segments which comprised 54% and 34% of our total Q2FY23 revenues respectively, registered 10% and 7% YoY growth. In the backdrop of continued volatility in input prices, the Company has managed its costs basket efficiently. As a result, we continue to witness favourable margin performance accompanied by EBITDA (excluding other income) growth of 14.0% YoY. Improved efficiency and product mix enhancement has resulted in a margin expansion of 120 bps at the EBITDA level and 150 bps at PAT level. The Company has made considerable progress in the capacity expansion of the faucetware business. The momentum of premiumization across our new-age and high-margin offerings remains strong and we can clearly see customers gravitating towards products with enhanced features, sophisticated design, and an increasing technology footprint. In order to better showcase our vibrant offerings, we have augmented our marketing spend with the addition of new brand ambassadors and by stepping up investments in advertisements and publicity. Going ahead, we believe that our comprehensive product offerings, wide network, strong brand salience, robust financial position, and plans towards scaling up the capacities; - position us well to deliver long-term consistent growth across our key business segments.” Result PDF