Cera Sanitaryware (532443) Q4 25/26 earnings summary

Executive summary

• Q4 FY 2026 revenue grew 11.4% year-over-year, signaling continued recovery in demand, especially in core sanitaryware and faucetware segments.

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

• Audited financial results for the year ended 31st March 2026 were approved, with a recommended dividend of ₹75 per share (1500% 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

• Q4 FY 2026 revenue: INR 644 crores (vs. INR 578 crores in Q4 FY 2025).

• Total income for FY26 was ₹210,297.89 lakhs, up from ₹197,774.96 lakhs in FY25.

• EBITDA (excluding other income): INR 98 crores (vs. INR 106 crores YoY); EBITDA margin at 15.2% (down from 18.3%).

• Profit after tax: INR 77 crores (vs. INR 86 crores YoY); EPS: INR 59.96 (vs. INR 66.36).

• Net profit after tax for FY26 was ₹20,418.56 lakhs, compared to ₹24,648.43 lakhs in FY25; EPS for FY26 stood at ₹158.31, down from ₹190.40 in FY25.

Outlook and guidance

• FY 2027 revenue growth expected at 18%-20%.

• 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 FY 2027.

• EBITDA margin guidance at 14%-15%, supported by price hikes and discount management.

• The company continues to monitor regulatory changes, especially regarding the new Labour Codes, and will account for any additional impact as clarifications emerge.