ICICI Securities: Cera Sanitaryware - Balance Sheet Strengthens; Growth Recovery Ahead
An employee uses an air gun to remove dust and dirt from kiln-fired toilet and wash basin in a factory in Bahadurgarh, Haryana, India. (Photographer Udit Kulshrestha/Bloomberg)

ICICI Securities: Cera Sanitaryware - Balance Sheet Strengthens; Growth Recovery Ahead

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.

ICICI Securities Report

Cera Sanitaryware Ltd. is well geared to stage a material recovery in volumes in its bathroom solutions segment on the back of:

  1. considerable strengthening of the balance sheet post Covid-19 driven by stricter control on receivables, particularly in the faucet and tile segments (which is likely to continue in the near term);
  2. market share gains across the product portfolio driven by import substitution in sanitaryware and faucets, and Morbi’s intensified focus on tile exports.

Click on the attachment to read the full report:

ICICI Securities Cera Sanitaryware Company Update.pdf


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