BQ Prime's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Our optimism on Cera Sanitaryware Ltd. is led by continued healthy demand environment aided by pick-up in the residential housing market and also from home improvement market.
Our interaction with dealers and management indicates continued demand tailwind even in Q1 in the core segments of sanitaryware and faucetware.
Margins should also remain firm going ahead as the company has taken price increase of ~3% in sanitaryware and ~5% in faucetware during mid-May, 2022 which should negate raw material price pressures.
Management has guided to double the revenue over the next ~3.5 years with margin improvement of at least 50 basis points-75 bps YoY in FY23.
We expect Cera to witness revenue/profit after tax compound annual growth rate of 17%/27%, respectively, over FY22-24 led by faucetware and sanitaryware segments with continuous high return ratios.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.