Cera Sanitaryware (532443) Q4 24/25 earnings summary

Executive summary

• FY 2025 ended with stable margins and steady performance across key segments, despite subdued consumer demand in Q4.

• Audited standalone and consolidated financial results for the year ended 31 March 2025 were approved, with a recommended dividend of ₹65 per share, subject to AGM approval.

• Operational efficiency and disciplined cost management supported profitability.

• B2B/project business grew to 40% of Q4 revenues, up from 35% YoY, while retail demand remained soft.

• Expanded product portfolio with 431 new SKUs and 342 new stores, focusing on premiumization and digital initiatives.

Financial highlights

• Q4 FY 2025 revenue: INR 578 crores, up 5.7% YoY; EBITDA: INR 106 crores (excl. other income), margin at 18.3% (up 150 bps YoY).

• Standalone revenue from operations for FY25 was ₹197,775 lakhs, up from ₹193,238 lakhs in FY24; consolidated revenue was ₹198,667 lakhs, up from ₹193,892 lakhs year-over-year.

• Q4 profit after tax: INR 86 crores, up 14.1% YoY; EPS: INR 66.36 vs. INR 67.69 YoY.

• FY 2025 net revenue: INR 1,915 crores, up 2.4% YoY; EBITDA: INR 291 crores (excl. other income); PAT: INR 247 crores.

• Cash and cash equivalents as of March 31, 2025: INR 719 crores.

Outlook and guidance

• Focus remains on brand building, distribution, and digital/customer experience for FY 2026.

• Revenue guidance of INR 2,900 crores by FY 2027 is contingent on retail demand recovery and improved market conditions.

• Premium brands (Senator, Luxe) expected to contribute 10% of revenues in 2-3 years.

• The Board recommended a final dividend of ₹65 per share for FY25, reflecting continued confidence in future performance.