Q2FY23 Quarterly Result Announced for Cera Sanitaryware Ltd.
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 PDF07-11-2022