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Revenue
₹499 Cr
verification pending
Revenue YoY
11.1%
reported change
EBITDA
₹51 Cr
latest reported figure
Source
manual review required
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Cera Sanitaryware reported Q3 FY26 revenue of ₹499 crore, up 11.1% YoY, driven by gradual demand recovery and improved market traction. EBITDA margin contracted 300 bps YoY to 10.2% due to higher trade discounts, elevated brass input costs, and phasing of publicity spends. PAT fell 47.8% YoY to ₹24 crore, partly due to one-time exceptional items from wage code changes. Management expects margins to revert to 13-14% in Q4 and 15-17% by H2 FY27, supported by a calibrated price hike (4% sanitaryware, 11% faucetware). New brands Senator and Poly Plus are scaling slower than anticipated, with FY26 revenue guidance revised to ~₹20 crore from ₹40-45 crore. Key risk: sustained brass price inflation could delay margin recovery.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects EBITDA margin to recover to 13-14% in Q4 FY26, driven by higher revenue absorption and absence of one-off costs.
- Management targets EBITDA margin of 15-17% by second half of FY27, assuming sustained revenue growth and normalization of costs.
- Management expects full-year FY26 revenue growth of 7-8%, with Q4 maintaining double-digit growth momentum.
- Revenue from new brands Senator and Poly Plus for FY26 is now expected at ~₹20 crore, down from earlier guidance of ₹40-45 crore, due to slower store rollouts.
Risks flagged
- Brass prices rose 12% in Q3 and further in January; if prices continue to rise, the recent price hike may be insufficient to protect margins.
- Senator and Poly Plus revenue guidance was halved to ~₹20 crore for FY26; slower scaling could delay breakeven and weigh on profitability.
- Management noted retail demand remains uneven; if recovery stalls, revenue growth may not sustain double-digit levels.
- Management deferred construction of a new sanitaryware plant, citing sufficient capacity from efficiency gains; if demand surges, capacity could become a constraint.
Key quotes
- This is a one-off kind of a thing and not something which is expected to remain on a steady basis for the future. Going forward in Q4 by itself you'll find that we are going to be returning back to the margins of at least 13 14% that we had been having in the last few quarters.
- The price increase would be sufficient to cover the kind of increases which have happened till date. Obviously if it keeps on increasing at the current trend then again we'll have to revisit the position.
- We have been looking at in the last six four quarters as to which markets we are not really doing well and have been concentrating a lot on those markets and it is these markets which have now started showing results.
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