Cera Sanitaryware Ltd(CERA)

NSE: CERABSE: 532443

₹ 4,547.2-2.83%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 5,865 crNext results: 4 Nov 2026Website: www.cera-india.comUpdated: 24 Oct 2026

About

Cera Sanitaryware Ltd is an Indian manufacturer and marketer of sanitaryware, faucetware, tiles, and wellness products, with FY26 revenue of INR 2,050 crore. The company operates under its flagship Cera brand alongside newer premium brand Senator and value brand Polipluz. In Q1 FY27, sanitaryware contributed 47% and faucetware 40% of revenues.^[1][2][3]

Business segments

Sanitaryware contributed 47% of revenues in Q1 FY27, growing 14% YoY (volume +10%, price +2%, mix +2%).^[1]
Faucetware contributed 40% of revenues in Q1 FY27, growing 25% YoY (volume +18%, price +4%, mix +3%).^[1]
Tiles contributed 10% and Wellness 2% of segment revenue mix in Q3 FY26; Wellness grew 29.4% YoY that quarter.^[4]
Project segment accounted for 43% of revenues in Q1 FY27, up from 39% QoQ, reflecting sustained B2B demand.^[1]

Brands and products

Senator is a premium flagship-store brand; 40 stores were operational by end of FY26, targeting 50 stores by end of FY27.^[2][1]
Senator generated INR 10.5 crore and Polipluz INR 8.5 crore in FY26, totalling INR 19 crore combined, with combined losses of INR 8.5 crore.^[2]
Polipluz targets deep-value and Tier 3-4 markets; as of end-FY26 it had 102 distributors and 1,120 dealers.^[2]
Premium segment accounted for 44% of revenue mix in Q1 FY27.^[1]

Manufacturing and capacity

Sanitaryware capacity utilisation was 61% in Q1 FY27, down from 70% in Q4 FY26 and 82% in Q3 FY26.^[1][2][4]
Faucetware capacity utilisation was 96% in Q1 FY27; it ran at 106% in Q4 FY26, manufacturing 4.3 lakh pieces in March 2026.^[1][2]
Outsourced sanitaryware represented 60% of Q4 FY26 volumes, mostly sourced from the Morbi cluster.^[2]
Gas cost (weighted average) rose to INR 48.43/m³ in Q1 FY27 from INR 33.17/m³ in Q1 FY26; GAIL supplied 64% of gas in Q4 FY26.^[1][2]

Key operating numbers

Sanitaryware volume grew +10% YoY and faucetware volume grew +18% YoY in Q1 FY27.^[1]
Net working capital cycle improved to 50 days in Q1 FY27 from 75 days a year earlier; inventory days fell from 80 to 68, receivables from 38 to 30.^[1]
Gross margin was ~46% in Q1 FY27, down from ~51%+ in Q1 FY26, pressured by higher brass and gas input costs.^[1]
Cumulative price hikes stand at ~12% in sanitaryware and ~16% in faucetware following revisions in March and May 2026.^[1]

Distribution and reach

The Dealer Management System was extended to the retailer loyalty program in Q1 FY27, providing secondary sales visibility and inventory tracking.^[1]
Polipluz targets expansion to 200 distributors and 2,000 dealers by end of FY27, from 102 distributors and 1,120 dealers at end-FY26.^[2]

Expansion and capex

Faucetware brownfield debottlenecking will expand capacity to 5 lakh pieces per month, expected operational in Q4 FY27, with capex of approximately INR 4-5 crore.^[2]
FY27 total capex is budgeted at approximately INR 43 crore, covering faucetware expansion, manufacturing efficiencies, and digital initiatives.^[1]
Greenfield sanitaryware plant: land already purchased at INR 27 crore; first-phase construction cost revised to ~INR 150 crore; construction decision to be reviewed by end of FY27, with commissioning ~18 months from start.^[2][1]

Recent developments

Cera launched brand ambassador Kriti Sanon with 'Your Moment of Cera' campaign in Q1 FY27, with FY27 brand-building and marketing budget set at approximately INR 85 crore.^[1]
Morbi cluster supply disruptions in Q1 FY27 led Cera to internalise several higher-selling sanitaryware SKUs, requiring incremental capex of INR 2-3 crore.^[1]
An accounting policy change in Q1 FY27 reclassified turnover discounts as a revenue deduction, reducing reported revenue by ~2.5% for Q1 FY27 and ~3% for the restated prior period, with no impact on absolute EBITDA.^[1]
In September 2025, Cera divested its stakes in Race Polymer Arts LLP and Packcart Packaging LLP for total consideration of INR 18.75 crore, booking a profit of INR 5.54 crore; no subsidiaries now remain.^[5]

Market Cap

₹5,865 Cr

High / Low

₹6,730 / 4,463

Stock P/E

29.4

Price / Book

5.4

Book Value

₹1,142

EPS

₹158.3

No. of Shares

1.29 Cr

ROCE

19.0%

ROE

14.5%

OPM

13.5%

Debt / Equity

0.00

Sales

₹2,050 Cr

Net Profit

₹204 Cr

Promoter holding

54.4%

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