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Buy Cera Sanitaryware Ltd For Target Rs.8,224 by Yes Securities Ltd Result Synopsis Cera Sanitaryware Ltd (CRS) reported better than expected revenue but margins remained under-pressure owing to higher input cost and elevated other expenses. Revenue stood at Rs4.93Bn, a growth of 6%YoY (2-year CAGR stood at 9%) wherein major growth was driven by faucets biz which reported a growth of 21%YoY (2-year CAGR came in at 19%) constituting 41% of sales Vs 36% in Q2FY24. Sanitaryware biz constituted 46% of revenue Vs 51% in Q2FY24 and registered a degrowth of 4%YoY...
Buy Cera Sanitaryware Ltd For Target Rs.8,224 by Yes Securities Ltd
Buy Cera Sanitaryware Ltd For Target Rs.8,224 by Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-14 04:41:30 pm
Neutral Cera Sanitaryware Ltd For Target Rs. 8809 By Yes Securities Ltd. We interacted with Mr. Vikas Kothari-CFO & Mr. Deepak ChaudharyGeneral Manager at CERA SANITARYWARE Ltd & following are the key highlights form the same: * Though there are no material green shoots in demand yet, management is confident that demand should revive H2 onwards. Incrementally, FY26E & FY27E should be better owing to strong construction cycle. * Project segment (35-36% of biz) has grown in double digits & management stated that this is a lead indicator for rev...
Neutral Cera Sanitaryware Ltd For Target Rs. 8809 By Yes Securities Ltd.
Neutral Cera Sanitaryware Ltd For Target Rs. 8809 By Yes Securities Ltd.
Source: Yes Securities Ltd
2024-09-26 03:35:38 pm
Reduce Cera Sanitaryware Ltd For Target Rs.8,809 By Yes Securities Tepid topline growth, demanding valuations compel rating downgrade! Result Synopsis Cera Sanitaryware Ltd (CRS), reported a topline of Rs4Bn, reporting a degrowth of 7%YoY. Sanitaryware & Faucets (89% of sales) registered a decline of 6%YoY (2-year CAGR remained flattish) owing to soft demand environment. Sanitaryware (53% of sales), degrew by 7%YoY (2-year CAGR was flattish) and Faucets (36% of sales) reported a decline of 4%YoY (2-year CAGR stood at 2%). Other biz combined regist...
Reduce Cera Sanitaryware Ltd For Target Rs.8,809 By Yes Securities
Reduce Cera Sanitaryware Ltd For Target Rs.8,809 By Yes Securities
Source: Yes Securities Ltd
2024-08-14 02:41:58 pm
ADD Cera Sanitaryware Ltd. For Target Rs. 8,026 - Yes Securities Revenue target of Rs29Bn deferred by 1.5 years! Result Synopsis Cera Sanitaryware Ltd (CERA), registered a subdued revenue growth of 3%YoY owing to sluggish demand scenario. Sanitaryware/Faucets constituted 51%/38% of revenue respectively. Sanitaryware revenue remained flattish on a YoY basis and grew by 23%QoQ (2-year CAGR stood at 8%). Faucets revenue increased by 12%YoY & 32%QoQ (2-year CAGR stood at 20%). Other segments representing 11% of revenue, displayed a decline of 6%YoY. ...
ADD Cera Sanitaryware Ltd. For Target Rs. 8,026 - Yes Securities
ADD Cera Sanitaryware Ltd. For Target Rs. 8,026 - Yes Securities
Source: Yes Securities Ltd.
2024-06-27 04:15:55 pm
Add Cera Sanitaryware Ltd For Target Rs.8,139 - Yes Securities Steady performance to continue, assign NEUTRAL! Result Synopsis Cera Sanitaryware Ltd (CRS) registered a steady performance in Q2FY24 wherein revenue grew by 11.5%YoY & 8%QoQ to Rs4.63Bn. Gross margin contracted sequentially by 296bps & 197bps YoY to 52.9%. However, due to lower employee cost & other expenses EBITDA margin remained steady at 16.5% as compared to 16.3%/16.4% in Q2FY23/Q1FY24 respectively. Sanitaryware sales (51% of revenue) grew by 5.3%YoY & 4%QoQ to Rs2....
Add Cera Sanitaryware Ltd For Target Rs.8,139 - Yes Securities
Add Cera Sanitaryware Ltd For Target Rs.8,139 - Yes Securities
Source: Yes Securities Ltd
2023-11-29 12:08:51 pm
Buy Cera Sanitaryware Ltd For Target Rs. 10,886- Centrum Broking Ltd Steady state quarter; maintains growth guidance Cera’s sales grew by 12% YoY to record its highest second quarterly sales of Rs4.6bn. 1H is seasonally a slow period for the company contributing ~45% to the annual sales. Sanitaryware/Faucetware grew by 4/16% YoY contributing 51/36% respectively. New products contributed 29% (in-line to 1QFY24). Gross margins declined by 300bps YoY (-200bps QoQ) at 52.9%. EBITDA margins, however improved marginally by 20bps YoY to 16.5%. For 1HFY24, sa...
Buy Cera Sanitaryware Ltd For Target Rs. 10,886- Centrum Broking Ltd
Buy Cera Sanitaryware Ltd For Target Rs. 10,886- Centrum Broking Ltd
Source: Centrum Broking Limited
2023-11-08 02:28:54 pm
Hold Cera Sanitaryware Ltd For Target Rs.8,262 - ICICI Securities Near-term demand tepidness, 2HFY24 to be much betterWe recently interacted with the management of Cera Sanitaryware (CRS). Key takeaways: 1) Demand scenario in Q2- TD has been tepid as higher overall inflationary conditions have resulted in some temporary slackness. CRS expects demand to be much stronger in H2FY24 and has reiterated its ~20% YoY revenue growth guidance for FY24. 2) Margins to remain steady at ~16% as raw material costs remain benign. 3) Brownfield expansion of faucetware f...
Hold Cera Sanitaryware Ltd For Target Rs.8,262 - ICICI Securities
Hold Cera Sanitaryware Ltd For Target Rs.8,262 - ICICI Securities
Source: ICICI Securities
2023-09-25 01:30:26 pm