Cera Sanitaryware said that its board has approved buyback upto Rs 130 crore at Rs 12,000 per share through tender route.
The price for buyback is fixed at Rs 12,000 per share, representing a 34.45% premium to Fridays closing price of Rs 8,925.45 on the BSE.The company will buyback upto 1,08,333 fully paid-up equity shares of face value Rs 5 each, representing 9.68% and 9.66% of the total paid-up equity share capital and free reserves (including securities premium account) as per the latest audited standalone financial statements and audited consolidated financial statements of the company for the financial year ended 31 March 2024.
The board has fixed Friday, 16th August, 2024 as the Record Date for the purpose of determining the entitlement and the names of the equity shareholders who shall be eligible to participate in the buyback.
Cera Sanitaryware is mainly engaged in manufacturing of ceramic sanitary ware and faucet ware along with trading of of sanitary ware, faucet ware, ceramic tiles, kitchen sinks and bath wellness products.
The companys standalone net profit increased 19.21% to Rs 75.03 crore in Q4 FY24 as against Rs 62.94 crore posted in Q4 FY23. Revenue from operations increased 2.47% year on year (YoY) to Rs 546.63 crore in the quarter ended 31 March 2024.
The scrip rose 0.77% to Rs 8,994.40 on the BSE.
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