Cera Sanitaryware - Vista Of Better Times Ahead: ICICI Securities
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ICICI Securities Report
We are positive on Cera Sanitaryware Ltd. post our recent interaction with its management and continue to believe the company will be a significant beneficiary of the pick-up in demand from housing segment seen post pandemic.
Cera Sanitaryware continues to focus on its two major product categories, viz. sanitaryware and faucetware, and has indicated expansion plans in both these segments to be finalised over the next one-two quarters.
Management stated demand outlook remains robust and continues to be hopeful of doubling the turnover over the next four years with sustained operating margins of ~14-15%.
Company indicated that if raw material cost increases in sanitaryware and faucetware persist, the same would be passed on with requisite price hikes.
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