Rs 60 Dividend Recommended: Sanitary Ware Firm Declares 19% YoY Rise In PAT, Accumulate: PL

Mid cap firm engaged in sanitary industry Cera Sanitaryware Ltd today reported a jump of 19.21% in its standalone net profit for Q4 ended March 31, 2024 as compared to Rs 62.94 crore announced in the corresponding quarter of last year. Last trading price of Cera Sanitaryware Ltd share on BSE is Rs 7130.00 per share with intraday gain of 5.68%. Board of Directors of Cera Sanitaryware today recommended a dividend of Rs 60/- (1200%) per equity share of Rs 5/- each. Cera Sanitaryware shares jumped 3% in last 1-week and fell a little less than 1% in last 1-year. Cera Sanitaryware Ltd shares gave maximum return of 546% in last 10-years. More details below:

Cera Sanitaryware Recommends Dividend: The company issued BSE filing stating, "recommended dividend of Rs. 60/- (1200%) per fully paid-up equity share of Rs. 5/- each for the year ended 31.03.2024. The dividend, if approved by the members at ensuing Annual General Meeting, will be dispatched / remitted within 30 days from the date of declaration."

Cera Sanitaryware Q4: The company's revenue from operations zoomed 2.4% YoY to Rs 546.63 crore for the quarter ended March 31, 2024. Profit before tax of the firm for Q4 FY 2024 came at Rs 97.95 crore, up 17.38% from Rs 83.44 crore declared in the similar quarter of last year. Its EBITDA for the quarter under review rallied 10.60% to Rs 108.5 crore as against Rs 98.1 crore declared in the same quarter last year. EBITDA margin got better by 140 bps YoY to 19.8% for Q4 FY2024. For the whole year, its consolidated net profit zoomed 14.07% to Rs 239.17 crore.

Prabhudas Lilladher Recommends Accumulate: The brokerage firm has assigned accumulate call to Cera Sanitaryware shares. According to PL's analyst Praveen Sahay, "Revenues grew by 3.1% YoY to Rs 5.4bn (PLe:Rs5.5bn), which is 1.2% below our estimate vs 4% above Cons. estimates. ,It was observed that their was softness in demand inQ3FY24 which impacted the initial part of Q4FY24."

Vikram Somany, chairman & managing director, said, "we are pleased to report a satisfactory performance for the year ending March 31 2024, notwithstanding the challenges of persistent inflation and demand fluctuations, particularly prevalent in the latter half of the financial year. The softness in demand observed in Q3 FY24 persisted during the initial part of Q4 FY24. Despite near-term pressures, our focus remains on outperforming the sector and maintaining our market share."

Cera Sanitaryware Share Performance & Return: The 52-week high price of Cera Sanitaryware share on BSE is Rs 9782.25 per share (as on 01/09/2023) and 52-week low price is Rs 6551.25 per share (as on 20/03/2024). The market cap stood at Rs 9263.04 crore. Cera Sanitaryware shares fell over 19% in last 6-months, rallied over 81% in last 2-years, and offered return of 161% return in last 1-year.

Disclaimer:

The stock has been picked from the brokerage report of Prabhudas Lilladher. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.