Cera Sanitaryware LimitedQ1 FY27 Results & Financial Update
Cera Sanitaryware Limited: Q1 FY27 standalone results and company financials – revenue ₹485.98 Cr, PAT ₹45.31 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Cera Sanitaryware Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Profit before tax was ₹59.81 Cr for the reported quarter. EPS was ₹35.13 for the reported quarter.
Cera Sanitaryware reported a 19.5% year-on-year revenue increase to INR 486 crore for Q1 FY27, driven predominantly by volume growth across core product categories.
EBITDA margin moderated to 10.1% due to transitory impacts including a wage settlement, single-kiln operations, project foreclosure adjustments, and delayed retail price pass-throughs.
Profit after tax was ₹45.31 Cr for the reported quarter. EPS was ₹35.13 for the reported quarter.
01 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹485.98 Cr |
| Total income | ₹507.27 Cr |
| Profit before tax | ₹59.81 Cr |
| Profit after tax | ₹45.31 Cr |
| EPS | ₹35.13 |
02 · Why it moved
Why the quarter looked the way it did
What drove margins
Cumulative price revisions stand at approximately 12% in Sanitaryware and 16% in Faucetware following actions taken in March and May 2026.
Gross margin dropped to 46% in Q1 due to lag in price realization, but management expects a recovery back to historical levels around 51% by Q3 as revised pricing takes full effect.
03 · Demand, customers & order book
Where demand is coming from
Growth was well-balanced across retail and project segments, with Tier 3 and Tier 1 cities accounting for 38% of sales each, and Tier 2 accounting for 24%.
04 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Capacity utilization stood at 61% for sanitaryware (impacted by kiln downtime) and 96% for Faucetware during the quarter.
To mitigate Morbi cluster uncertainties, the company has progressively internalized high-selling SKUs through minor casting line adjustments costing INR 2 crore to INR 3 crore.
05 · Reported developments
What changed operationally
Net working capital cycle improved substantially from 75 days to 50 days year-on-year, driven by inventory days dropping from 80 to 68 and receivables decreasing from 38 to 30 days.
Sanitaryware and Faucetware revenues grew by 14% and 25% year-on-year respectively, supported by strong volume growth and balanced contributions from retail and project segments.
06 · Pressure points & risks
What is not going smoothly
Gas and brass costs remained elevated during the quarter, with weighted average gas costs at INR 48.43 per cubic meter and brass touching INR 880-900 per kg.
Operating with a single kiln during April and May due to temporary gas supply uncertainty resulted in a 30% to 35% reduction in production and an under-absorption impact of INR 3.7 crore.
07 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Cash and cash equivalents stood robust at INR 943 crore as of June 30, 2026.
08 · Management guidance & targets
What management is targeting from here
Planned capital expenditure for FY27 is approximately INR 43 crore, focused on Faucetware brownfield capacity expansion, manufacturing efficiencies, and digital infrastructure.
Management reaffirmed its full-year revenue growth guidance of 18% to 20% and EBITDA margin guidance of 13.5% to 14%.
09 · Management call deep dive
What management said on the conference call
Operating takeaways
9 key pointsPlanned capital expenditure for FY27 is approximately INR 43 crore, focused on Faucetware brownfield capacity expansion, manufacturing efficiencies, and digital infrastructure.
Turnover discounts are now presented as a deduction from revenue instead of an expense per Ind AS, reducing reported turnover by 2.5% to 3% with zero impact on absolute profit or cash flow.
Growth was well-balanced across retail and project segments, with Tier 3 and Tier 1 cities accounting for 38% of sales each, and Tier 2 accounting for 24%.
Capacity utilization stood at 61% for sanitaryware (impacted by kiln downtime) and 96% for Faucetware during the quarter.
To mitigate Morbi cluster uncertainties, the company has progressively internalized high-selling SKUs through minor casting line adjustments costing INR 2 crore to INR 3 crore.
Cumulative price revisions stand at approximately 12% in Sanitaryware and 16% in Faucetware following actions taken in March and May 2026.
Gross margin dropped to 46% in Q1 due to lag in price realization, but management expects a recovery back to historical levels around 51% by Q3 as revised pricing takes full effect.
Cash and cash equivalents stood robust at INR 943 crore as of June 30, 2026.
Management reaffirmed its full-year revenue growth guidance of 18% to 20% and EBITDA margin guidance of 13.5% to 14%.
Important analyst Q&A
2 key pointsSanitaryware's 14% growth comprised 10% volume, 2% price, and 2% mix. Faucetware's 25% growth comprised 18% volume, 4% price, and 3% mix.
An impact of INR 6.3 crore was booked in staff costs during Q1 pertaining to retrospective wage agreement settlements with union workers from September 2025 to March 2026.
10 · Key Q&A
The quarter, answered directly
What is the clearest takeaway from Q1 FY27?
Profit before tax was ₹59.81 Cr for the reported quarter. EPS was ₹35.13 for the reported quarter.
What drove revenue or demand?
Growth was well-balanced across retail and project segments, with Tier 3 and Tier 1 cities accounting for 38% of sales each, and Tier 2 accounting for 24%.
What mattered most for margins or profitability?
Cumulative price revisions stand at approximately 12% in Sanitaryware and 16% in Faucetware following actions taken in March and May 2026.
What changed operationally beyond the headline numbers?
Capacity utilization stood at 61% for sanitaryware (impacted by kiln downtime) and 96% for Faucetware during the quarter.
What is management guiding or targeting from here?
Planned capital expenditure for FY27 is approximately INR 43 crore, focused on Faucetware brownfield capacity expansion, manufacturing efficiencies, and digital infrastructure.
What are the main pressure points disclosed for the quarter?
Gas and brass costs remained elevated during the quarter, with weighted average gas costs at INR 48.43 per cubic meter and brass touching INR 880-900 per kg.
11 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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