In Q1FY24, Cera Sanitaryware (CRS) reported consolidated revenue growth of 8% YoY with sanitaryware/faucetware segments growing ~7%/8% YoY, while tiles revenue grew 11% YoY. Operating margin expanded 59bps YoY (flat QoQ) due to lower raw material cost (-133bps/-140bps YoY/QoQ), partly negated by higher employee expenses (+92bps YoY), resulting in EBIDTA/APAT growth of 12%/43% YoY, respectively.