BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
Cera Sanitaryware Ltd.’s Q1 FY22 results was below our and consensus estimates.
Statewide lockdown amid second wave of Covid-19 weighed on demand for building material products, which dented earnings in the quarter.
On a low base of Q1 FY21, current quarter performance is encouraging, however on a sequential quarter, result has been subdued.
Net sales increased by 56% YoY to Rs 2,282 million, while Ebitda came in at Rs 208 million, a robust growth of 450% YoY.
Cera Sanitaryware reported net profit of Rs 116 million, up by 792% YoY.
Our interaction with the management suggests that demand has picked up from June onwards and business loss should get covered in upcoming quarters.
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