{"id":182583,"date":"2026-05-09T02:37:32","date_gmt":"2026-05-09T06:37:32","guid":{"rendered":"https:\/\/alphastreet.com\/india\/cera-sanitaryware-limited-cera-q4-2026-earnings-call-transcript\/"},"modified":"2026-05-09T02:37:32","modified_gmt":"2026-05-09T06:37:32","slug":"cera-sanitaryware-limited-cera-q4-2026-earnings-call-transcript","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/cera-sanitaryware-limited-cera-q4-2026-earnings-call-transcript\/","title":{"rendered":"Cera Sanitaryware Limited (CERA) Q4 2026 Earnings Call Transcript"},"content":{"rendered":"

Note:<\/strong> This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon.<\/em><\/p>\n

Cera Sanitaryware Limited (NSE: CERA) Q4 2026 Earnings Call dated May. 09, 2026<\/span><\/strong><\/p>\n

Corporate Participants:<\/h2>\n

Devrishi Singh<\/strong> \u2014 Investor Relations<\/em><\/p>\n

Unidentified Speaker<\/strong><\/p>\n

Vikas Kothari<\/strong> \u2014 Chief Finance Officer<\/em><\/p>\n

Analysts:<\/h2>\n

Bhavin Rupani<\/strong> \u2014 Analyst<\/em><\/p>\n

Praveen Sahay<\/strong> \u2014 Analyst<\/em><\/p>\n

Utkarsh Nopany<\/strong> \u2014 Analyst<\/em><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Pranav Mehta<\/strong> \u2014 Analyst<\/em><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Presentation:<\/h2>\n

Operator<\/strong><\/p>\n

Ladies and gentlemen, good day and welcome to the earnings conference call of Sahara Sanitary Aware Limited. As a reminder, all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call B. Signal an operator by pressing Star then zero on your touchstone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Devrishi Singh of TDR India.<\/p>\n

Thank you. And over to you, Mr. Singh.<\/p>\n

Devrishi Singh<\/strong> \u2014 Investor Relations<\/em><\/p>\n

Good morning everyone and thank you for joining us on the earnings conference call for Sera Sanityware Limited for Q4 FY26 earnings which were announced yesterday. We have with us today the management team comprising Mr. Vikash Kothari, CFO and Mr. Deepak Chaudhary, VP Finance and Investor Relations of Sera Sanitary Ware. We will start with brief opening remarks from the management following which we will open the call for Q and A. A quick disclaimer before we begin. Some of the statements made in today’s conference call may be forward looking in nature and a detailed note in this regard is contained in the results documents<\/p>\n

Unidentified Speaker<\/strong><\/p>\n

That have been shared with all of you earlier. I would now turn the call over to the management for their opening remarks. Thank you. And over to you, Deepak.<\/p>\n

Devrishi Singh<\/strong> \u2014 Investor Relations<\/em><\/p>\n

Thank you, Devishi. Good morning everyone and a warm welcome to you all for joining us for the Q4 and full year FY26 earnings conference call of Sera Sanitary Ware Ltd. I will begin by sharing a brief overview of our operational and strategic developments during the quarter, following which our CFO Mr. Vikas Kothari will take you through the financial performance in greater detail. During the quarter the company delivered an improved performance with revenues growing in double digits at 11.4% on a year.<\/p>\n

On year basis, Sanitary Ware and Faucet Pad accounted for 46% and 43% of the revenues respectively during the quarter. This performance further builds on the early signs of recovery that we had started witnessing from Q3 and reinforces our confidence that demand conditions are gradually improving. Importantly, this improvement is being led by our core product categories where we are seeing relatively better traction given our strong positioning in the mass and mix segments. From a broader perspective, the underlying drivers for the building materials sector continue to remain supportive.<\/p>\n

We are seeing a more balanced recovery across segments with traction in both urban markets and and select Tier 2 and Tier 3 regions. This is encouraging for our core product categories as demand conditions continue to stabilize during the quarter, we implemented a calibrated price revision across Faucet Ware and Sanitary ware effective from March 1, primarily to offset the increase in input costs, particularly in brass. Going forward, we expect continued volatility in the key input prices, including metals and energy costs over the near to medium term.<\/p>\n

While these pricing actions have been undertaken in a measured manner, we continue to maintain a balanced approach, keeping in mind both margin protection and market competitiveness. Pricing decisions will remain dependent on movements in input costs and overall demand conditions. On the margin front, we have continued to see some pressure during the quarter with margins remaining below our normal range largely on account of higher input costs as well as on account of continued trade discounts. We have already compensated for the higher costs by increasing prices in both sanitary ware and faucet ware segments.<\/p>\n

As operating conditions stabilize, we expect to progressively regain better control over discounts, which should support a steady improvement in margins over time. The company has identified certain focus markets, mainly the Northeast West Bengal, Uttar Khand, Bihar, Tamil Nadu, Madhya Pradesh, Jharkhand, Goa, Chhattiskar and Odisha, as a part of its growth strategy initiated some time ago. Continuous efforts undertaken across these regions to strengthen distribution and market interventions have contributed meaningfully to the growth achieved by the company so far.<\/p>\n

From a portfolio perspective, FY26 has been an important year in strengthening our overall brand architecture, particularly through our initiatives under Senator and Polyplus. Both brands have made steady progress during the year with key building blocks now largely established across product portfolio, team structure, distribution and market presence. Under Teneta, we have successfully expanded our retail footprint with 40 flagship stores operational during the year and are targeting to scale this up to 60 stores by next financial year.<\/p>\n

Under Polyplus, we have onboarded 102 distributors and 1120 dealers 1120 dealers during FY26 with a target to expand the network to 200 distributors and 2000 dealers by the end of FY27. These initiatives are currently in the investment and brand building phase where the focus remains on strengthening positioning, expanding reach and building long term brand equity. Given the nature of this phase, we expect the outcomes to play out progressively over time with a more visible contribution to growth as these initiatives scale up.<\/p>\n

With the foundational elements now largely in place, our focus will increasingly be on strengthening execution and driving progressive scale up over the coming periods. Backed by a strong leadership team and relevant industry experience in building established brands. We remain confident about the long term potential of these initiatives. At the same time as we continue to invest in these emerging brands. The core Sera brand remains central to our growth strategy and continues to be the primary driver of volumes and overall business performance.<\/p>\n

As mentioned earlier, we are seeing improved traction in this segment supported by gradual recovery in retail demand as well as continued momentum in the project business. Terra Lux is also gradually strengthening our presence in the premium and contemporary segment supported by an expanding product portfolio and improving market visibility. Given our strong positioning across our core segments, we expect a significant part of the growth going forward to be driven by the core Sera brand where we have established scale, distribution reach and strong brand economy.<\/p>\n

On the brand and marketing front, we are strengthening our overall communication strategy with a sharper focus on enhancing brand visibility across segments. During FY26 our marketing and publicity spends stood approximately at Rupees 49 crores and we expect this to increase in FY27. As we step up our brand building initiatives across key channels, we are working towards rolling out a series of focused campaigns across digital, social and on ground platforms. This will include the introduction of a new brand Ambassador which we expect to announce in the near term and which we believe will further enhance brand visibility and engagement across the key markets.<\/p>\n

Overall, these initiatives are aimed at strengthening our brand positioning and supporting our growth strategy going forward. In addition, we have been strengthening our brand visibility through strategic franchisee and institutional tie up with leading consumer facing brands across India. We’ve improved association with well recognized names such as McDonald’s, T Post Complex, JSW One Homes, Shelby Hospitals, Federal bank and other prominent brands across sectors. From a supply side perspective, as most of you are aware, the industry has been witnessing disruptions in parts of the unorganized sector, particularly in MOBI due to gas availability challenges arising from the ongoing geopolitical situation.<\/p>\n

In response to this environment, we are increasingly undertaking internalization of certain sanitary product categories which is expected to enhance supply reliability and strengthen our ability to cater to demand requirements more efficiently. While gas prices remain elevated and are unlikely to ease in the near term, Terra has remain relatively uninsulated from these disruptions. This is supported by a continued gas sourcing arrangement including suppliers from GALE at relatively subsidized rates which have ensured operational continuity.<\/p>\n

In addition, we have been able to effectively service demand through our existing inventory levels and manufacturing capabilities, enabling us to maintain supply in a market where several players have faced disruptions. This has also provided an opportunity to liquidate inventory and support offtake during the period leading to improved demand visibility overall. While the external environment remains challenging, we are well positioned to navigate the current situation without any material disruption to production or supply in the near term.<\/p>\n

At the same time, we continue to closely monitor the situation and remain focused on ensuring operational stability and responsiveness across our network. On the operations front, we continue to focus on improving manufacturing efficiencies and strengthening our supply chain. In faucetsware, we continue to witness strong traction with operations running at high utilization levels. During March 2026 we manufactured 4.3 lakh pieces reflecting a healthy demand momentum. In view of the strong demand visibility, we are undertaking capacity expansion to increase the production capacity to 5 lakh pieces per month.<\/p>\n

With minimal CapEx outlay of approximately 5 crores. The NAS capacity is expected to become operational from Q4FY27 onwards. To summarize, while the near term environment continues to present certain challenges, we are seeing gradual improvement in demand conditions supported by a strong market positioning and execution focus. Importantly, we are beginning to see early signs of strengthening across key demand drivers and as these trends sustain, we expect this to translate into more visible growth momentum over the coming periods.<\/p>\n

Our priority remains on disciplined execution, strengthening our operating fundamentals and building a robust platform for future growth. With a strong balance sheet, diversified product portfolio and continued investments across brands, channels and systems, we believe that we are well positioned to navigate the current environment and capture growth opportunities as demand conditions continue to improve over time. With this, I would like to hand over to Mr. Vikash Kothari to run me through the financials of the company.<\/p>\n

Vikas Kothari<\/strong> \u2014 Chief Finance Officer<\/em><\/p>\n

Thank you Deepak and a very good morning to everyone. I will now take you through a brief overview of the company’s financial performance for the quarter and year ended 31st March 26. Revenue from operations for the quarter stood at Rupees 644 crores as compared to Rupees 578 crores in Q4FY25. EBITDA excluding other income for the quarter was at Rupees 98 crores as compared to Rupees 106 crore in the corresponding quarter of the previous year. EBITDA Margins stood at 15.2% in Q4FY26 as compared to 18.3% in Q4FY25.<\/p>\n

This decline was primarily driven by continued pressure on gross margins led by elevated GRAS input costs and higher trade discounts. Margins were also impacted by pre operative expenses related to the sanitary and polyplus Fortnites. Gas cost during the quarter remained stable with the weighted average cost at rupees 35.55 per cubic meter in Q4FY26 as compared to rupees 36.03 per cubic meter in Q4FY25. During the quarter, gas consumption was was sourced 64% from Gale and 36% from Sabamati. Overall gas cost as percentage of revenue stood at 2.3%.<\/p>\n

Input cost, particularly brass continued to remain at elevated levels while other input costs such as play also witnessed some upward movement during the period. In response to these sustained cost pressures, the company implemented calibrated price divisions of 4% in sanitary ware and 11% in faucet wear towards the later part of the quarter. These divisions were largely applicable to the retail segment while project business remained relatively insulated due to pre booked orders. This approach is intended to balance margin protection with market competitiveness.<\/p>\n

For the quarter under review, revenue contributions by segment was broadly as follows. Sanitary wear at 46%, faucet wear 43%, tiles at 9% and wellness at 2%. On a YoY basis, collective wear revenue grew by 10.7%, faucet wear by 24.3%, wellness by 31.2% while tiles declined by 8.3%. Our core categories sanitary ware and faucet wear together accounted for 89% of the total revenues. Capacity utilization during the quarter stood at 60, 70% for sanitary wear and 106% for faucet wear. From a product mix perspective, 41% of sales were from premium segment, 38 from mid segment and 21% from entry level segment products.<\/p>\n

Geographically, tier three cities accounted for 40% of sales followed by tier one at 36% and tier two at 24%. Profit after tax stood at rupees 77 crore as compared to rupees 86 crore in the corresponding quarter of the previous year. Earnings per share for the quarter stood at rupees 59.96 compared to rupees 66.36 in Q4FY25. On the working capital front, we continue to see improvement across key parameters during the quarter with inventory days decreasing from 79 days to 71 days, receivables reducing from 37 days to 33 days while payables stretched from 38 days to 40 days.<\/p>\n

This resulted in a yoy reduction in net working capital from 78 days to 64 days as of March 31. March 26, our cash and cash equivalents stood at rupees 853 crore. On capital expenditure front, the capital expenditure for FY26 remained measured with an outlay of around rupees 14.5 crores by end of March 26. Risk was largely directed towards routine maintenance along with selective investments towards strengthening our brand presence and retail initiatives. Overall, our financial position remains healthy supported by a strong balance sheet, disciplined cost management and prudent working capital practices while the operating environment continues to be impacted by input cost pressures, the steps taken during the quarter, including calibrated price divisions and a continued focus on cost efficiencies, position us well to navigate near term challenges.<\/p>\n

We remain focused on maintaining financial discipline while continuing to invest selectively in strategic initiatives and believe this approach should support study and sustainable performance. Going forward with this, I would like the moderator to open the lines for Q and A. Thank you very much.<\/p>\n

Bhavin Rupani<\/strong> \u2014 Analyst<\/em><\/p>\n

Thank you very much.<\/p>\n

Questions and Answers:<\/h2>\n

Operator<\/strong><\/p>\n

We will now begin the question and answer session. Anyone<\/p>\n

Vikas Kothari<\/strong><\/p>\n

Who<\/p>\n

Operator<\/strong><\/p>\n

Wishes to ask a question may press STAR and one on the dashboard telephone. If you wish to remove yourself from the question queue, you may press Star and two participants are requested to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles participants. You may press star N1 to ask the question. The first question is from the line of Praveen Sahai from PL Capital. Please go ahead.<\/p>\n

Praveen Sahay<\/strong><\/p>\n

Yeah, hi sir and thank you for opportunity and many congratulations for good set of numbers. The first question is related to the demand. So if I if I look at that from our Q3 to Q4 and we can clearly see that the retail has done better in the Q4 and also in the commentary and opening statement you had said that the retail channel has increasing recovery. So how you are going to see in the FY27 the retail because the retail has been quite a muted for past few quarters now we started seeing some improvement.<\/p>\n

So how you are going to see the growth in the retail the way forward and second thing is on the institution contribution because institution contribution has also increased in the last four years from 32 to 38% with a good growth. So where you see the balance between institution and the retail in the coming years.<\/p>\n

Devrishi Singh<\/strong><\/p>\n

Thank you Praveen. Like I’ll just take you through the journey of how the progress in demand has been over the last couple of years. Like if you see we had entered a phase of sluggish demand from Q3 of FY23, 2324. During that period the project demand continued to remain strong but retail has entered into a sluggish kind of a situation. Since Q3 of the current financial year we have started seeing improvement in the retail demand and we saw this trending through Q4 also in the current. If we see the month of April also we have seen a good surge in the retail.<\/p>\n

It has continued in the current quarter also. So we are hopeful that going forward the kind of demand recovery that we have seen in the retail segment should continue in the full year of FY27. And the kind of traction that we are seeing in project that we find that it has increased from something like 30% what it used to be earlier a couple of years back to 35% and then now to something like 39, 40%. With the improvement in retail demand, we expect that this percentage should now remain stable. So going forward we expect that the proportion of retail and project should now be remaining stable at 60% for retail and 40% for the project business.<\/p>\n

On an overall growth perspective, we have started seeing improvements in volume and going forward we expect that there should be good traction in the volume in both the sanitary ware and faucet. More so in the faucet segment we have been even in the period where the demand used to be sluggish, we have consistently seen improvements in the faucet ware demand going forward in FY27 we expect that faucet wear should continue to grow at 10 to 12% in volumes and sanitary ware should be in the range of, you can say 7 to 8% in FY27 also.<\/p>\n

Praveen Sahay<\/strong><\/p>\n

Okay, so that’s 7 to 8% or 10 to 12% is a volume growth. What you are indicating for next question is related to the price because the last quarter Also you indicated 4% in the cemetery and 11% in the faucet. But eventually we indicated that from the March onwards we started seeing the gradual price increase. So what, what challenges basically you had faced especially in the taking the price hike because the brass prices has been quite a higher for a last, you know, couple of quarters back. But the price hike has been, you know, first announced and now in the March actually has been taken one and the second is related to the price is how much more as you had indicated also that’s the elevated the brass prices is maintaining and also the clay prices increased.<\/p>\n

How much more price hikes you expected to take to maintain your margin guidance of a 14% down?<\/p>\n

Devrishi Singh<\/strong><\/p>\n

You’re right that the input situation has been challenging in the last 1\/4 or so since especially in light of the geopolitical situation which developed in the month of February. Now grass prices have started moving upwards even before that. And in the last three, four months it has gone up from something like late 600 to early 700. From that it has gone up from something like 800 to 850, which is right now. Now if I see on a year on year basis there would have been an increase of something like 29, 30% in the brass prices.<\/p>\n

Now effectively we have taken a price increase of 11% in the month of March. In the month of March we had taken a surcharge of 10% in the case of sanitary wear and 5% in the case of faucet wear. And now again we have taken a price increase of 8% in the case of sanitary wear and 5% in the case of process. We have removed the surcharge and we have gone in for a price increase. So effectively, over a period of you can say two months, we have taken a price increase of 12% in the case of sanitary wear and 16% in the case of faucet Web.<\/p>\n

Now these prices are only effective on the retail portion. And for the projects the prices and expected to like as per our norms, they remain stable for the period of one year from the time that we it is booked into our system. So on an average, if I assume that the projects would be starting and would be completing and there would be a six month kind of an average in the new price effect would take place in the case of projects. So we can expect this kind of price change to start reflecting in the project business from let’s say in another five to six months.<\/p>\n

But retail, it has already been implemented and the impact will be visible from the like it is already visible from March and it will all be visible in Q1 more because it will be a full kind of a quarter where the price has remained affected. Now, in respect of as to how well we have been able to cover our rises in price, you’ll find that in case of brass, we have more or less been able to cover the kind of price increases with the kind of price increases that we have taken, slight deviation is there.<\/p>\n

We have to absorb some kind of price increase in the brass. Typically if I see, if you see, like I said, that the price increase has been 30% over the last one year and if I assume that it constitutes something like 60% of my brass, constitutes 60% of my cost. So the effective impact on my cogs would be in the region of 18% and I’ve taken a price increase of 16%. So that is still a kind of 1 or 2% which is left as a gap between the pricing and the kind of price increase that cost increase, which has happened in the case of brass, but that we intend to calibrate by way of discount controls, which we are expecting that now that the demand has started recovering, we’ll see better discounts management going forward that a couple of percentage points that we still lagging behind in the Case of price increase should be kind of made up by way of better discount management.<\/p>\n

In case of sanitary where the clear sector has increased, but the bulk of the price impact comes in on account of gas. Like most of the players in More B have been severely impacted because of the rise in the kind of kind of phases which have happened in the prices of gas. And also in the month, in the quarter coming quarter, we expect that even though More B plants have started opening up, typically the first quarter is in the case of Hanner Key where a little slow. In the case of Morbi because one especially this will be more so in the current quarter because even when they have started opening up, most of the labor would have kind of gone back home the time when the plants were closed.<\/p>\n

And it will be a gradual process by which the labor would come in and the plants would start opening up again. Also that we find that during Q1 it is a monsoon period. And during that period also you find that the production in Moorbi in case of Hanaktiware remains slow. So it will only be at it will take some time beyond Q1 when you can expect that the Mobi would be becoming fully operational in case of sanitary wear. So that is a kind of an opportunity for us because the players who are not having their own kind of manufacturing facility and are sourcing mostly from Modi will find it going a little tough unless and until they have built up stocks heavily earlier.<\/p>\n

So we anticipate that the current situation will be playing well for us going forward in Q1 and Q2.<\/p>\n

Praveen Sahay<\/strong><\/p>\n

Thank you so much for elaborative answer, sir. Thank you for that. The last question from my side is related to the brand because we had a did a lot of investment in the Senator and the Polyplex in terms of the distribution and the product last year. So if you can give me some color on how much of the revenue in the FY26 you had generated from these brands and what’s our target? Is there any revision in the target for the revenue for 27?<\/p>\n

Devrishi Singh<\/strong><\/p>\n

Okay. In case of Senators and Polyplus in Senator we generated revenue of in the region of 10 and a half crores in the full year FY26. In PolyPlus we generated something like 8 and a half crores total. These banks combined generated total revenue of 19 crores approximately. And for FY27 we are projecting that Senators should be able to generate roughly 40, 45 crores. And the Polyplus would be in the range of 30 to 35 crores. Thank you so much these two banks taken together should be giving us roughly 70 to 80 crores.<\/p>\n

Praveen Sahay<\/strong><\/p>\n

And with the breakeven<\/p>\n

Devrishi Singh<\/strong><\/p>\n

In the current quarter like there was a kind of loss. If you take into account the kind of publicity expenses that we have been putting in and then going forward in the FY27 also we’ll have a lot of publicity will be carved out for this particular segment. Senator, if I exclude the publicity expenses then we’ll be making a small profit. But if I take in the publicity expenses also then it will be a little. Maybe not current year but next year when we start making profits after taking into account all the publicity costs.<\/p>\n

Praveen Sahay<\/strong><\/p>\n

Thank you so much sir. And all the best.<\/p>\n

Devrishi Singh<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Participants, you may press star and one to ask a question. Next question is from the man of Utkash Nupani from Anandrati. Please go ahead.<\/p>\n

Utkarsh Nopany<\/strong><\/p>\n

Yeah. Hi. Good morning Sir. So my first question is regarding the revenue growth guidance for FY27. So like earlier you have mentioned that we are expecting sanitary wear volume to grow at 7 to 8% rate and the faucet at 10 to 12% rate for FY27. And given the price hike which we have implemented in the last two three month period. So is it fair to understand that we are targeting symmetry where revenue to grow at a healthy team rate and a faucet where revenue to grow at more than 20% rate for FY27.<\/p>\n

Sir,<\/p>\n

Vikas Kothari<\/strong><\/p>\n

Thank you for asking the question. So as you have seen the last year being stressed in terms of different activities, market conditions, geopolitical and all within those constrained situations. Also we have delivered the number of 2050 crores in terms of the overall revenue going forward based on the. Based on how the market demand is doing. We have seen that quarter three and quarter four has built the confidence in terms of continuity of the upward trend. So basis that we have estimated in terms of the revenue growth which is going to be there for financial year 27.<\/p>\n

So with the demand trend continuing to grow upwards we expect the overall growth of around 18 to 20% next year. In this, if I have to categorize by segment, in sanative air segment we expect 12% growth driven by a favorable volume impact of 7% and price impact of 5 to 6%. Because we are like Deepak has explained, it is a combination of both project and retail. Retail. Will be driven by the price increase. Whereas in case of projects pre orders will be at the old rate and the new orders will be at the increased rates.<\/p>\n

And similarly in case of faucet pair we expect a growth of 18% which is going to be driven by favorable volume impact of 10 to 12% and price impact of 8%. So overall if we see if we see today in terms of how the things are moving and how we have capitalized different scenarios, adverse scenarios into opportunities, we expect that if such trend continues, the overall growth will be between 18 to 20%.<\/p>\n

Utkarsh Nopany<\/strong><\/p>\n

On the margin side, in your initial remarks.<\/p>\n

Vikas Kothari<\/strong><\/p>\n

Yeah, please speak.<\/p>\n

Utkarsh Nopany<\/strong><\/p>\n

Yeah, so on the margin side, like sir, you have initially mentioned that we are trade discount which was going on, it is still continuing. So just wanted to understand like we are seeing a pretty good demand in the good demand recovery in the retail segment and the supply side has also got impacted because of the gas supply disruption. So. So why we are still continuing with the trade discounts?<\/p>\n

Vikas Kothari<\/strong><\/p>\n

No. So just to give you an understanding in terms of the margin. So if you seen, see for the whole year the keeping aside this recent scenario of gas and all, so margins were stressed reason for being the trade discounts which were offered to meet out the subdued demand, they will keep on increasing. So with this Q3 onwards we have seen that because in terms of discounts and all, it is not a process that it can be immediately controlled. It is a gradual journey. So this control, like we told discount management will be controlled this year.<\/p>\n

We have already started taking steps from Q1 onwards and this will further strengthen in the coming quarters. So as far as margin decline is concerned, the two factors which has largely impacted the gross margin is the rise in the input cost, mainly the brass prices which has been elaborated how this has gone. And it has gone by 29% which has now been sufficiently taken care of through the price rise to offset the impact of increased costs. And secondly the elevated trade discounts. So these trade discounts are again we can correct it in the coming quarters.<\/p>\n

So if you have seen the margins which are in Q4, they have seen an uplift from 10.2% in quarter three to 15.2%. And we understand that with the growth which is going right now in terms of the demand aspect. So we see that if this, this trend continues, we will be able to sustain the EBITDA margins at around 14 to 15%.<\/p>\n

Utkarsh Nopany<\/strong><\/p>\n

Okay. And so like one question was regarding the capacity utilization. So if you can get some sense, what was the capacity utilization of our sanitary plant in March and April month? And do you see any disruption in our sanitary wear operation in the June quarter period? And what kind of a sanitary wear inventory we were carrying at the end of March 26th? And what is the status of Our greenfield sanitary wear plant, sir.<\/p>\n

Vikas Kothari<\/strong><\/p>\n

So regarding the capacity utilization. So as we have rightly told in case of sanity where in March we were operating at 70% of our total capacity and in case of faucet ware we were operating at 106% of our total capacity. So ideally speaking in case of sanitary ware in the month of March we had an advantage in terms of the inventory levels. So adequate inventory levels played a critical role in ensuring uninterrupted market supplies and meeting customer demand during this period. And what has happened is in March we have taken a decision to close one plane which was temporarily shut down to manage the operational efficiency because in March the visibility was very poor in terms of gas supplies prices and all.<\/p>\n

So we have taken this as an opportunity and since we were having the inventory is built up. So that has been. That has. That has been. That has proved as a favorable part in terms of meeting out the customer demand. And in the month of April also we have taken the decision to remain closed with one claim. We will be soon getting operational with the. With the second claim. And we hope that in terms of the demand and what is there and there are certain products which we have taken internalized from more beam.<\/p>\n

So I think this capacity which is running at 70, 75% will further improve in the coming months.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Utkarsh, may I request to come back for a follow up question please?<\/p>\n

Utkarsh Nopany<\/strong><\/p>\n

Yes sir.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Participants, you may press Star and one to ask the question. Next question is from the line of Varun Jalasuria from 361 Capital. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yes sir. Thank you for the opportunity. Sir, for this quarter alpha was the growth driven by price hike and how much was driven by volume for the Q4.<\/p>\n

Vikas Kothari<\/strong><\/p>\n

So largely if you see the success in terms of the growth which is there in this quarter is largely driven by volume. So if we see that the growth which is driven by volume is almost. Just give me the numbers. So largely it is driven by volume growth of 12% and with an improved product mix of 3 to 4%. However there was some adverse price impact of 3% because of discounts and all what we discussed. So largely it is a volume driven growth<\/p>\n

Unidentified Participant<\/strong><\/p>\n

And so sanitary wear and. Sorry, sorry. And the faucet wear. Sir, how much capacity we are increasing? You mentioned it but we plan for 6 million. Right.<\/p>\n

Vikas Kothari<\/strong><\/p>\n

Just to give you an update in terms of how faucet wear is progressing. So with the brownfield expansion what we have taken earlier, we have increased our capacity from 3 lakh pieces per month to 4 lakh pieces. And last year was a basically milestone where we have operated to reach out to 4 lakhs. And in the month of March we have completed 4,30,000 pieces per month. And with the demand trend being going upward we are further increasing this capacity from 4.30 lakh per unit to 5 lakh per unit by debottlenecking and by putting some efforts within the.<\/p>\n

Within the brownfield setup what we have built earlier with the. With a minimum capex of around 4 to 5 crores.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay sir, understood. And for sir, our exposure to more B like we also have fair bit of exposure on outsourcing. So how much are we exposed to more B and say other regions. Comparatively for our sanitary wear and faucet wear requirement<\/p>\n

Devrishi Singh<\/strong><\/p>\n

That outsourcing percentage we always keep on disclosing. I’ll just tell you the figures right now. Also what is the kind of proportion of outsourcing versus announced in case of sanitary ware? You’ll find that the outsourcing proportion in the Q4 was to the extent of 60%. And in case of faucet ware it was to be tuned of 57%. Sorry, 46%. 60% for sanitary bar and 46% for faucet wear. Now in the current scenario, as I was mentioning that in the Q4 because of the kind of gas price impact which has happened and also the availability of gas which has become restricted in the month of March onwards we expect that sourcing From Orbi in Q1 of the current financial year would be a little sketchy.<\/p>\n

And that is where it is. Mostly because of the fact that we have adequate inventories that will be able to manage the last portion of Q1 and also some portion of Q2. And that is why what we have also done is that during this period we have also undertaken and drive for internalizing the kind of products which we are currently outsourcing from Modi. So those we should are expecting that should be available for sale from Q2 onwards. By which time we have. Till which time we have adequate inventories within our.<\/p>\n

Within the company to take care of any demand which is there for these products.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

But is the large part of this outsourcing from Modi only or do we have like. You know, as far as I know there are other suppliers in north and as<\/p>\n

Devrishi Singh<\/strong><\/p>\n

It’s a much multiple source. But it is mostly from the multiple suppliers. Mostly from.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Okay. Thank you so much.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Next question is from the line of Bhavan Rupani from Investec India. Please go ahead.<\/p>\n

Bhavin Rupani<\/strong><\/p>\n

Yeah. Hi sir. Thanks for the opportunity. So first question on inventory. So you mentioned that you have inventory of for one or two quarters. But if you look at our balance sheet, it shows somewhere around 70 days. So I’m assuming that some portion of that could be attributed to raw material cost as well. So can you tell us about what is the finished good inventory that we have?<\/p>\n

Devrishi Singh<\/strong><\/p>\n

The finished goods inventory as of March 2000, 2026 was 303 crores as compared to December which was 365 crores. December 2025 was 365 crores. We ended March with 303 crores. And at the end of April also we’re in the same region, 300 crores roughly. We are maintaining currently.<\/p>\n

Bhavin Rupani<\/strong><\/p>\n

Oh, that is somewhere around 1\/4, right sir.<\/p>\n

Devrishi Singh<\/strong><\/p>\n

So it doesn’t function like that because it is also manufacturing. We are also manufacturing. So manufacturing is also continuing right now. So we have certain inventory which is of manufacturing. You have certain inventory of which is for outsourcing materials. So as I mentioned earlier, the kind of outsourcing material that we have within the kind of entire kitty is adequate for taking kind of the forecast that we have for the next two to three months. So three months further we don’t anticipate any challenge and by that time our internalization would start giving us the kind of SKUs which were there from.<\/p>\n

And also it is not that more B is entirely closed. They will have problems and will not be able to give the kind of materials which you are giving earlier the kind of demand projections which are there. But they are still able to supply the kind of some amount of material which will be coming in from Mobi. So we are comfortable in respect of the entire situation. If you see the comfortable in respect of abilities.<\/p>\n

Bhavin Rupani<\/strong><\/p>\n

All right, so what I understand is our tiles is also completely outsourced. So do we see any impact on tiles going ahead in Q1? Q2<\/p>\n

Devrishi Singh<\/strong><\/p>\n

Tiles will be impacted because in the month of March, also later part of March, because most of it is dependent upon outsourcing, we are able to do some amount of sales because some inventory was there with the suppliers. But it is essentially totally driven by outsourcing. And if the plants do not open up and we are not able to get that procuring material from outside that tight portion, we expect that during Q1 will be impacted.<\/p>\n

Bhavin Rupani<\/strong><\/p>\n

Okay, got it sir. So<\/p>\n

Devrishi Singh<\/strong><\/p>\n

You spoke about.<\/p>\n

Operator<\/strong><\/p>\n

Can I request you to come back please for a follow up question? Thank you, Bhavin. In the interest of time, I’ll request participants to kindly limit their self to two questions per Participant next question is from the line of Pranav from Equator securities. Please go ahead.<\/p>\n

Pranav Mehta<\/strong><\/p>\n

Yeah, good morning sir. So just wanted to understand if you can throw some light on the strategy for both Senator and Polyplex for next, let’s say two to three years, how you want to scale up this business and how the premiumization trend will be a key driver for this.<\/p>\n

Devrishi Singh<\/strong><\/p>\n

See as we have been mentioning in the earlier calls also that Polyplus will be the primary driver for the entry segment. This will be mostly a kind of brand which will be for the purpose of the Dural segment and the areas which are more in the tier 4 nature kind of situation. So we are already, as I mentioned in my call also earlier, we have set up something like 100 distributors right now with 1000 plus dealers and we intend to take it up to 200 distributors and 2000 dealers in the next financial year.<\/p>\n

For Senators, the idea would be that it will be more of a premium and luxury brand and that is why the concentration is more on opening brand stores, flagship brand stores across the across the country. We have already opened something like 40 stores in the current year and we intend to take it up to 60 in the next financial year. Also we are intending to, apart from the retail presence, they are wanting to take a strong presence in the project segment also and intend to introduce separate series project range for the Senator brand that will be already in the process and should be there by, you can say another couple of months.<\/p>\n

So apart from the retail will also be driving strongly in the project segment in the Senator portfolio.<\/p>\n

Pranav Mehta<\/strong><\/p>\n

Sure, sir. And sir, after the price hikes, are we at a level at level to which, let’s say the other brands are or are we still slightly below them?<\/p>\n

Devrishi Singh<\/strong><\/p>\n

Typically the pricing of Sera has been on an MRP level, been higher than what other brands have been. So in the current situation we have taken a price increase in line with our own cost structure. The kind of price increases that have happened, the other branded players have also taken similar price increases. We’ll find that the price increase more or less is in line with what others have taken. It will be slightly, you can say more for some brands, slightly less for some brands, but more or less.<\/p>\n

Because this is something which has affected each and every player. You’ll find that most of them have taken price increases in the line of, you can say 16 to 18% in the case of faucets and 10 to 12% in the case of sanitary wear for most players.<\/p>\n

Pranav Mehta<\/strong><\/p>\n

And so we are in the same line, right?<\/p>\n

Devrishi Singh<\/strong><\/p>\n

On the same line, sir.<\/p>\n

Pranav Mehta<\/strong><\/p>\n

Thank You.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Next question is from the line of Asim from DAM Capital Advisors. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hi. Morning. So two questions from my side. One on this FY27 revenue growth expectation. So you said sanitary wear will grow 12%, offsets 18%. Then I can’t understand how will your overall revenue growth be, you know, 18% or 20%. So what explains the balance<\/p>\n

Vikas Kothari<\/strong><\/p>\n

Regarding this part? Say we have given the broad understanding with respect to our major segments, that is sanitary and faucet wear. There are other, other segments also within the pipeline. So we have tiles and cc. So our understanding is that once this MOBI situation which is which has now started opening from May onwards will improve. So tiles, we have tiles and construction chemicals, they are going to contribute around 250 crores, a growth of 20 plus percent. And with respect to the Senator and Polyplus, our newly introduced brands, they will be contributing around 70 to 80 crores.<\/p>\n

So overall if you see in terms of the overall revenue from all these, that will lead to 18 to 20% growth next year.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, understood. And the second bit, so basically on numbers, so quarterly Employee costs in Q4 are down. QQ any reasons that you can attribute and what should be the quarterly run rate ahead and the CapEx number that you estimate for FY27?<\/p>\n

Devrishi Singh<\/strong><\/p>\n

I didn’t get your first party talking about the employee cost.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah, the employee costs 59 crores for Q4 I think is down about 1,2%. QQ I just wanted to understand if there is anything you want to call out behind the decline.<\/p>\n

Devrishi Singh<\/strong><\/p>\n

No, actually what had happened is that typically if you see our expenditure which has been happening on a quarter, on quarter basis, it has been in the region of 65 crores. So Q1 was roughly 65 crores. Q2 was also 65 crores in Q3. Once the wage quote was announced, we had taken certain assumptions that based on the kind of liabilities which will be coming up, there would be an additional expense of something like 5 crores. And that is why you’ll find that there was an expense of 70 crores in the month of.<\/p>\n

Sorry in the quarter of Q3, but in the current quarters, once we have got a better understanding of the wage code and related laws and how it is going to be implemented, we have taken not only if you see that there is an exceptional item of 10 crores of write back wherein we had put in something like 18 crores in Q3 for gratuity and PL liability, whereas now we are taking in that liability would be only in the region of 7 and a half to 8 crores and so that there is a Write back of 10 crores coming in as an exceptional item.<\/p>\n

Similarly in the wage expenses also that during that period we are provided for certain expenses related to the wage code which we are now anticipating will not be there. So that is why that expense of 65 crores which was 70 crores in the Q3 has now come back to 60 crores in Q4. Going forward we expect that the employee expenses should increase in the range of 10% on the basis of normal wage hikes. That and the increment to the kind of salary increases that is normally there. Also in the case of labor there might be some long term settlement which is not pending which will impact only the labor portion, the wage portion of the salary cost.<\/p>\n

How much that impact will come would be depending upon the negotiation which happens with the workers. And that impact should start coming in from that depending upon when that negotiation actually happens. In respect of the CapEx program, typically our CAPEX is in the range of you can say 28 to 30 crores. In this particular year we are anticipating a total CAPEX of something like 45 crores. This includes normal capex of roughly 25 crores which we typically do on a year. On year basis roughly 5 crores is there for the faucet ware expansion and I’m talking about within this 30 crores there is 5 crores for faucet fair expansion and also another 15 crores has been budgeted for acquisition of some more office space that we’ve been planning to do in the current financial year that will be in the range of 15 crores.<\/p>\n

So total capex taking everything together, the routine, the faucet wear expansion of 5 crores and the office space acquisition of something like 15 crores would be in the region of 43.42 crores.<\/p>\n

Bhavin Rupani<\/strong><\/p>\n

Okay, thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Next question is from the line of Praveen Sahai from PL Capital. Please go ahead.<\/p>\n

Praveen Sahay<\/strong><\/p>\n

Yes, thank you for the follow up. A small question from my side one you have a 853crore of a cash. So what’s the uses way forward? Have you, you know, decided for that?<\/p>\n

Vikas Kothari<\/strong><\/p>\n

So ideally I think this is the question where which is asked every time. So the idea is to communicate that whatever the cash position on which we are sitting we are equally respecting in terms of distributions also. So this time if you have seen that we have given a healthy dividend, declared a healthy dividend payout which is now 75 rupees per share, almost 1500 percent of the face value so that is there Apart from that in terms of the greenfield project which we will evaluate as as we have seen the fractions are coming right now with respect to demand so the right time of startup of construction of the greenfield will be seen in the coming quarters.<\/p>\n

So there the greenfield project was initially estimated at around 130cr of which land portion has already been purchased that is 27cr and considering the 2 years inflation what is there? So our understanding is when we are going to construct the first phase if we conclude in terms of constructing this year it will be costing around 150 cr so these are the current things which are in the pipeline apart from the CapEx, what we have shown as our routine or some incremental capacity expansion what we are doing going forward we will evaluate the scenarios in terms of how the market is doing and accordingly we will take action in terms of Future Investments.<\/p>\n

Praveen Sahay<\/strong><\/p>\n

So 150 apart from 27 crore on the land which you had already incur.<\/p>\n

Vikas Kothari<\/strong><\/p>\n

Yeah, yeah<\/p>\n

Praveen Sahay<\/strong><\/p>\n

Okay, thank you sir and all the best. Yeah,<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Next question is from line of current battalion from Asian Market securities please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hi, good morning. Am I audible?<\/p>\n

Devrishi Singh<\/strong><\/p>\n

Yeah, we can hear you.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah sir, just wanted to understand what kind of launch expenses we booked for Senator and Polyplus in the current year and what kind of number we can see for next two three years when we want to have EBITDA of 2025 crore or 2025 percent on this portfolio<\/p>\n

Devrishi Singh<\/strong><\/p>\n

In the current year. The expenses in Senator were mostly focused on opening the branch stores so we have spent something like 4 crores in the current year because this has expansion etc started from let’s say after three months in the start of the year so we had spent something like 4 crores over here in the period going forward. Now that stores expense expansion has mostly happened like we’ve opened 40 stores in the current period, we intend to go another 20 in the next year to take it to 60. But now that we have gotten these space, all the infrastructure in place now we’ll also need to spend on the other activities wherein we’ll be spending on exhibitions, architects consultants, catalogs, print media, there’ll be some advertising also being done.<\/p>\n

So for the next year we expect that 10 to 12 crores will be going in for the senators, publicity, etc.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Right? Sure sir. More of I was referring to the total expense which includes team building, exercise, store opening and other. So we’ve had losses in this year so just wanted to get the broad math Right.<\/p>\n

Devrishi Singh<\/strong><\/p>\n

The salary expenses for Senator and Polyplus then the current year was in the region of 6 and a half crores per senator and 3.3 crores for PolyPlus. Going forward, we expect 8 and a half crores per senator AND 7 crores for PolyPlus. 15 and a half for both of them. Taken together in publicity, we expect to do something like 10 to 12 crores next year. So this salary expenses are now going to be constant. Like this is the kind of as of now, the total, the structure has already been set up. And so that amount would now be remaining more or less constant at 15 and a half to 16 crores.<\/p>\n

Publicity for the next year is budgeted at 10 to 12. May increase again going forward in FY28.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Right, right, right. So this year launches were what, in the tune of 15, 16 crores.<\/p>\n

Devrishi Singh<\/strong><\/p>\n

This year the total losses were in the region of 7 crores. For Senator and for politics it was in the range of one and a half crores. The total losses were in the range of eight and a half crores.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Thank you. Thank you. That’s the main.<\/p>\n

Operator<\/strong><\/p>\n

Thank you very much, ladies and gentlemen. In the interest of time, we’ll take that as the last question. I now hand the conference over to the management for closing comments.<\/p>\n

Devrishi Singh<\/strong><\/p>\n

Thank you everyone for attending this call and for showing interest in Sera Sanitary Ware Limited. Should you need any further clarification or would like to know more about the company, please feel free to reach out to me or to CBR India. Thank you once again for taking the time to join the call. Thanks and bye. Thank you. Thank<\/p>\n

Operator<\/strong><\/p>\n

You. Thank you very much on behalf of CGR India and Serra Central Limited. Thank you for joining us. And you may now disconnect your lines. Thank you.<\/p>\n","protected":false},"excerpt":{"rendered":"

Note: This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon. Cera Sanitaryware Limited (NSE: CERA) Q4 2026 Earnings Call dated May. 09, 2026 Corporate Participants: Devrishi Singh \u2014 Investor Relations Unidentified Speaker Vikas Kothari \u2014 Chief Finance Officer Analysts: Bhavin Rupani \u2014 Analyst Praveen Sahay […]<\/p>\n","protected":false},"author":2377,"featured_media":147581,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6349],"tags":[10169,9175,9104,9092,14492,10089],"class_list":["post-182583","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-transcripts","tag-earnings","tag-earnings-call","tag-earnings-conference","tag-earnings-transcripts","tag-financial-results","tag-quarterly-earnings"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":145978,"url":"https:\/\/alphastreet.com\/india\/earnings-cera-sanitaryware-ltd-nse-cera-q4fy23-results-out-total-income-rises-22-yoy\/","url_meta":{"origin":182583,"position":0},"title":"Earnings | Cera Sanitaryware Ltd (NSE: CERA): Q4FY23 Results Out; Total Income rises 22% YoY.","author":"Divyansh_Kasana","date":"May 12, 2023","format":false,"excerpt":"Cera Sanitaryware Ltd is a manufacturing company that produces, sells, and trades various building products. With a focus on quality and innovation, the company has established itself as a leading player in the industry. The products offered by Cera Sanitaryware include sanitaryware, faucets, tiles, and mirrors, among others. In addition,\u2026","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/4b0b185d-fd09-4e7e-947d-ef141089055f-4.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/4b0b185d-fd09-4e7e-947d-ef141089055f-4.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/4b0b185d-fd09-4e7e-947d-ef141089055f-4.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/4b0b185d-fd09-4e7e-947d-ef141089055f-4.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/4b0b185d-fd09-4e7e-947d-ef141089055f-4.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/4b0b185d-fd09-4e7e-947d-ef141089055f-4.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":170168,"url":"https:\/\/alphastreet.com\/india\/cera-sanitaryware-q1-fy26-earnings-results\/","url_meta":{"origin":182583,"position":1},"title":"Cera Sanitaryware Q1 FY26 Earnings Results","author":"Divyansh_Kasana","date":"August 14, 2025","format":false,"excerpt":"Cera Sanitaryware Limited is engaged in the manufacturing, selling, and trading of a wide range of building products. The company also operates non-conventional wind and solar power plants in Gujarat for captive consumption. Presenting below are its Q1 FY26 Earnings Results. 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Financial Results: Cera Sanitaryware Ltd reported Revenues for Q4FY25 of \u20b9581.00 Crores up from \u20b9549.00\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/05\/L-13.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/05\/L-13.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/05\/L-13.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/05\/L-13.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/05\/L-13.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/05\/L-13.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":167430,"url":"https:\/\/alphastreet.com\/india\/cera-sanitaryware-ltd-q3fy25-12-fall-in-profits\/","url_meta":{"origin":182583,"position":4},"title":"Cera Sanitaryware Ltd Q3FY25; 12% fall in Profits","author":"Divyansh_Kasana","date":"March 18, 2025","format":false,"excerpt":"Cera Sanitaryware Ltd is engaged in the business of manufacturing, selling and trading of various kinds of building products. It also has non-conventional wind & solar power for captive use in the state of Gujarat. Financial Results: Cera Sanitaryware Ltd reported Revenues for Q3FY25 of \u20b9452.00 Crores up from \u20b9439.00\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/03\/Y-8.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/03\/Y-8.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/03\/Y-8.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/03\/Y-8.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/03\/Y-8.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/03\/Y-8.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":140105,"url":"https:\/\/alphastreet.com\/india\/cera-sanitaryware-limited-cera-q3-fy23-earnings-concall-transcript\/","url_meta":{"origin":182583,"position":5},"title":"Cera Sanitaryware Limited (CERA) Q3 FY23 Earnings Concall Transcript","author":"IRS_INDIA","date":"February 5, 2023","format":false,"excerpt":"Cera Sanitaryware Limited (NSE:CERA) Q3 FY23 Earnings Concall dated Feb. 03, 2023. Corporate Participants: Mayank Vaswani\u00a0--\u00a0Moderator Ayush Bagla\u00a0--\u00a0Executive Director Analysts: Achal Lohade\u00a0--\u00a0JM Financial -- Analyst Rakesh Wadhwani\u00a0--\u00a0Monarch AIF -- Analyst Sudarshan Mall\u00a0--\u00a0Dhunseri Investment -- Analyst Aman Mehta\u00a0--\u00a0Equirus Securities -- Analyst Aashish Upganlawar\u00a0--\u00a0InvesQ Investment Advisors -- Analyst Sangam Iyer\u00a0--\u00a0Consilium Investments --\u2026","rel":"","context":"In "Consumer"","block_context":{"text":"Consumer","link":"https:\/\/alphastreet.com\/india\/category\/consumer-stocks\/"},"img":{"alt_text":"Earnings Conference Call Transcript","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/182583","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/2377"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=182583"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/182583\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/147581"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=182583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=182583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=182583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}