Cera Sanitaryware Q1 Results Review - Another Good Quarter On Key Parameters: IDBI Capital

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..IDBI Capital Report.Cera Sanitaryware Ltd.’s Q1 FY24 result was broadly inline with our estimates on key parameters. The company continued its robust performance led by healthy demand, particularly in business-to-consumer market. Sanitaryware and faucetware divisions, which made up 53% and 35% of Q1 FY24 revenue respectively, witnessed a 7% and 8% YoY growth. Net sales improved by 8% YoY to Rs 4,289 million, while Ebitda came in at Rs 704 million, a growth of 12%YoY. Cera reported net profit of Rs 567 million, up by 43.6% compared to Q1 FY23. The management reiterated that capacity expansion is well on track in faucetware and should be operational from August, 23. We have broadly maintained our earnings estimates for FY24E/FY25E. Maintain 'Hold' with a revised target price of Rs 8,113 (earlier Rs 7,418), assigning 35 times price-to-earnings ratio on FY25E..Click on the attachment to read the full report:.Kajaria Ceramics Q1 Review - Tiles Volume Likely To Revive In H2; Low Fuel Prices Aid Margins: Systematix.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Cera Sanitaryware Q1 Results Review - Another Good Quarter On Key Parameters: IDBI Capital

Focus to remain on margin improvement.

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