Cera Sanitaryware (532443) Q4 25/26 earnings summary

Executive summary

• Q4 FY26 revenue grew 11.4% year-over-year to Rs. 6,438 million, reflecting improved demand, especially in sanitaryware and faucetware segments.

• Retail demand improved from Q3 to Q4, with both urban and tier-2/3 markets contributing to growth.

• Audited FY26 results approved, with a recommended dividend of ₹75 per share (1,500% of face value) pending AGM approval.

• Strategic focus on expanding Senator and Polipluz brands, with significant investments in distribution and brand-building.

• Company maintained operational stability despite industry disruptions in Morbi due to gas shortages.

Financial highlights

• FY26 revenue was ₹210,297.89 lakhs, up from ₹197,774.96 lakhs in FY25; Q4 FY26 revenue: INR 644 crores (vs. INR 578 crores in Q4 FY25).

• EBITDA for Q4 FY26 was Rs. 1,042 million; FY26 EBITDA margin at 13.1%, down 210 bps YoY.

• Profit after tax for FY26 was ₹20,418.56 lakhs, down from ₹24,648.43 lakhs in FY25; Q4 FY26 PAT was Rs. 773 million.

• EPS for FY26 stood at ₹158.31, down from ₹190.40 in FY25; Q4 FY26 EPS: INR 59.96 (vs. INR 66.36 YoY).

• Cash and cash equivalents as of March 31, 2026: INR 853 crores.

Outlook and guidance

• FY27 revenue growth expected at 18%-20%.

• Margin improvement anticipated as input cost pressures moderate and demand stabilizes.

• Sanitaryware segment projected to grow 12% (7% volume, 5%-6% price); faucetware to grow 18% (10%-12% volume, 8% price).

• Senator and Polipluz brands expected to contribute INR 70-80 crores in FY27.

• Company continues to monitor regulatory changes, especially regarding new Labour Codes.