External broker reports(aggregated public sources), Prabhudas Lilladhar

Prabhudas Lilladhar

External broker reports(aggregated public sources)

Prabhudas Lilladher is one of India's leading research based financial services organisation.

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Equity Bottom-Up

<ul><li>Prabhudas Lilladher's research report on Cera Sanitaryware Cera Sanitaryware (CRS) reported above estimates profitability with improvement in operating margins on account of cost saving initiatives, reduction in advisement expense (2.8% cons. rev.) and increase in other income.</li><li>However, CRS reported soft revenue growth of 3.1% YoY in Q4FY24 and guided for sluggish demand to continue in Q1FY25 due to general election and shortage of labours because of heatwave in the country.</li><li>Company has changed its revenue guidance to reach Rs29bn by Mar-27 inplace of Sep-25 with ~16% revenue CAGR over FY24-27, while EBITDA margin expected to maintain at 16%+.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Prabhudas Lilladher's research report on Cera Sanitaryware Cera Sanitaryware (CRS) reported above estimates profitability with improvement in operating margins on account of cost saving initiatives, reduction in advisement expense (2.8% cons. rev.) and increase in other income.However, CRS reported soft revenue growth of 3.1% YoY in Q4FY24 and guided for sluggish demand to continue in Q1FY25 due to general election and shortage of labours because of heatwave in the country.Company has changed its revenue guidance to reach Rs29bn by Mar-27 inplace of Sep-25 with ~16% revenue CAGR over FY24-27, while EBITDA margin expected to maintain at 16%+.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Cera Sanitaryware - Soft Revenue, Margins Surprised Positively

<ul><li>Prabhudas Lilladher's research report onCera Sanitaryware We met with the management of Cera Sanitaryware Ltd.</li><li>(CRS) to assess the demand, competition, pricing, and capacity expansion.</li><li>Management continues to observe a slowdown in demand in the near term and is expected to review its revenue guidance of Rs25bn/Rs29bn by Mar-25/Sep-25 with ~16%+ EBITDA margin, following the conclusion of FY24. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Prabhudas Lilladher's research report onCera Sanitaryware We met with the management of Cera Sanitaryware Ltd.(CRS) to assess the demand, competition, pricing, and capacity expansion.Management continues to observe a slowdown in demand in the near term and is expected to review its revenue guidance of Rs25bn/Rs29bn by Mar-25/Sep-25 with ~16%+ EBITDA margin, following the conclusion of FY24. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Cera Sanitaryware - Focus on Premiumisation & Expansion

India

Cera Sanitaryware Ltd. manufactures sanitary wares, and trades bathroom accessories and captive nonconventional energy. The Company's products include sanitary wares, glass basins, whirpools, bathtubs, shower range and bath fittings.

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Cera Sanitaryware (CRS IN)

Cera Sanitaryware - Soft Revenue, Margins Surprised Positively

Company has changed its revenue guidance to reach Rs29bn by Mar-27 in place of Sep-25 with ~16% revenue CAGR over FY24-27, while EBITDA margin...

Prabhudas Lilladhar

Cera Sanitaryware - Focus on Premiumisation & Expansion

Prabhudas Lilladher's research report onCera Sanitaryware We met with the management of Cera Sanitaryware Ltd. (CRS) to assess the demand,...

Prabhudas Lilladhar

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