Cera Sanitaryware reported 3 times rise in standalone net profit to Rs 39.6 crore in Q1 FY23 from Rs 12.9 crore in Q1 FY22.
Revenue from operations increased by 77.6% YoY to Rs 395.8 crore during the quarter.
EBITDA surged to Rs 61.2 crore in the first quarter from Rs 19.8 crore recorded in the same period last year. EBITDA margin was 15.5% in Q1 FY23 as against 8.9% in Q1 FY22.
Vikram Somany, chairman & managing director, said, "Cera's execution capabilities were witnessed again during Q1 FY23. Across all segments, products delivered on quality, availability and consumer acceptance. We continued to witness encouraging demand for home upgradation and home improvement from customers.
Pricing power of the brand was evident in no change in consumer elasticity of demand when prices were raised during the quarter. The company navigated rising input costs with premium offerings and new product development. The company's cash position, working capital management and financial return metrics all reflect prudent financial and operational decision making.
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Our sanitaryware and faucetware business segments which comprised 54% and 35% of our total Q1FY23 revenues respectively, registered 89% and 99% YoY growth. I am happy to share that our new‐age and high‐margin offerings like color faucets, PVD, gold‐coloured and Zed black products are receiving considerable amount of interest from customers. Additionally, we made considerable progress on our calibrated expansion plan which is EPS accretive."
Cera Sanitaryware is mainly engaged in manufacturing of ceramic sanitary ware and faucet ware along with trading of of sanitary ware, faucet ware, ceramic tiles, kitchen sinks and bath wellness products.
The scrip fell 2.99% to currently trade at Rs 4730.40 on the BSE.
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