Cera Sanitaryware (532443) Q4 23/24 earnings summary

Executive summary

• Revenue from operations grew 3.8% year-over-year to ₹187,123.47 lakhs on a standalone basis and ₹187,941.18 lakhs on a consolidated basis, with EBITDA up 10.2% and net profit after tax up 14.1%.

• Dividend of ₹60 per share (1200%) recommended, up from ₹50 per share last year, subject to AGM approval.

• The company maintained strong operational performance, completed brownfield expansion in faucetware, and continued investments in R&D and sustainability.

Financial highlights

• Standalone EBITDA: ₹35,543.07 lakhs (up 10.2% YoY); consolidated EBITDA: ₹36,277.47 lakhs.

• Standalone net profit: ₹23,916.90 lakhs (up 14.1% YoY); consolidated net profit: ₹24,131.73 lakhs.

• Exceptional item: ₹155.57 lakhs impairment on Milo Tile LLP investment.

• General reserve transfer: ₹6,113.38 lakhs.

• Key ratios: Inventory turnover 5.09, interest coverage 60.58, current ratio 3.72, net profit margin 12.78%, return on net worth 19.04%.

Outlook and guidance

• The company remains optimistic despite a challenging, demand-led slowdown, focusing on premiumization, operational optimization, and capacity expansion.

• Plans include greenfield sanitaryware expansion, increasing faucetware capacity, and further product innovation.