Cera Sanitaryware announced Q1FY23 results:
- Revenue stood at Rs. 3,958 million
- EBITDA for the quarter amounted to Rs. 609 million
- PAT stood at Rs. 396 million
Commenting on the performance, Mr. Vikram Somany, Chairman & Managing Director, said, “Cera’s execution capabilities were witnessed again during Q1FY23. Across all segments, products delivered on quality, availability and consumer acceptance. We continued to witness encouraging demand for home degradation and home improvement from customers. Pricing power of the brand was evident in no change in consumer elasticity of demand when prices were raised during the quarter. The company navigated rising input costs with premium offerings and new product development. The company’s cash position, working management and financial return metrics all reflect prudent financial and operational decision-making.
Our sanitaryware and faucetware business segments which comprised 54% and 35% of our total Q1FY23 revenues respectively, registered 89% and 99% YoY growth. I am happy to share that our new-age and high-margin offerings like color faucets, PVD, gold-coloured and Zed black products are receiving considerable amount of interest from customers. Additionally, we made considerable progress on our calibrated expansion plan which is EPS accretive.
Overall, we continue to make consistent progress on our strategic imperatives of maintaining strong financial prudence, growing market share as well as strengthening product offerings, distribution network and brand recognition activities. The outlook is favourable as we are well positioned to deliver long-term growth across our sanitaryware and faucetware offerings.”