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CERASANITARYWARE Other 28 Apr 2026

Cera Sanitaryware Limited — Q4 FY26

Cera Sanitaryware reported Q4 FY26 revenue of ₹644 crore, up 11.4% YoY, driven by volume growth of ~12% and improved product mix.

neutral medium
Revenue ₹644 Cr +11.4%
EBITDA ₹98 Cr -7.5%
PAT ₹77 Cr -10.5%
EBITDA Margin 15.2% -310bps
Duration 61 min

✓ Verified against BSE filing

2-Min Summary

Cera Sanitaryware reported Q4 FY26 revenue of ₹644 crore, up 11.4% YoY, driven by volume growth of ~12% and improved product mix. EBITDA margin contracted 310 bps YoY to 15.2% due to elevated brass input costs (up ~30% YoY) and continued trade discounts. PAT fell 10.5% to ₹77 crore. Management guided for FY27 revenue growth of 18-20%, with sanitaryware volume growth of 7-8% and faucetware volume growth of 10-12%, supported by price hikes of 12% and 16% respectively. New brands Senator and Poly Plus are expected to contribute ₹70-80 crore revenue in FY27. Key risk: sustained input cost inflation and trade discount pressure could delay margin recovery.

Key Numbers

Sanitaryware volume growth guidance 7-8%
+7-8pp YoY

Volume growth expected for FY27, driven by retail recovery and project stability.

Faucetware volume growth guidance 10-12%
+10-12pp YoY

Volume growth expected for FY27, supported by strong demand and capacity expansion.

Senator stores operational 40
+40 YoY

Flagship stores opened in FY26; target of 60 stores by FY27 end.

Poly Plus distributors 102
+102 YoY

Distributors onboarded in FY26; target of 200 distributors by FY27 end.

Management Guidance

G

FY27 revenue growth of 18-20%

Overall revenue growth expected at 18-20% driven by sanitaryware (12% growth), faucetware (18% growth), tiles & chemicals (20%+ growth), and new brands (₹70-80 crore).

revenue
G

Sanitaryware volume growth 7-8% in FY27

Volume growth expected in sanitaryware segment, with price impact of 5-6% leading to 12% revenue growth.

growth
G

Faucetware volume growth 10-12% in FY27

Volume growth expected in faucetware segment, with price impact of 8% leading to 18% revenue growth.

growth
G

EBITDA margin to sustain at 14-15% in FY27

Management expects EBITDA margins to remain in 14-15% range, supported by price hikes and discount control.

margins

Key Risks

R

Sustained input cost inflation

Brass prices up ~30% YoY and gas costs remain elevated; price hikes may not fully offset if costs continue rising.

high · management_commentary
R

Trade discount pressure

Elevated trade discounts persisted in Q4; management expects gradual improvement but no specific timeline.

medium · management_commentary
R

Morbi supply disruption impact on tiles

Tiles segment (fully outsourced from Morbi) expected to be impacted in Q1 FY27 due to gas availability issues.

medium · analyst_question
R

New brand losses may persist

Senator and Poly Plus incurred losses of ~₹8.5 crore in FY26; profitability expected only after FY27 despite higher revenue guidance.

low · data_observation

Notable Quotes

We have taken a price increase of 12% in the case of sanitary wear and 16% in the case of faucet wear over two months.
Deepak Kyodri · VP Finance and Investor Relations
With the demand trend continuing to grow upward, we expect the overall growth of around 18 to 20% next year.
Vikas Kotari · CFO
We have already started taking steps from Q1 onwards and this will further strengthen in the coming quarters.
Vikas Kotari · CFO