Cera Sanitaryware jumped 6.09% to end at Rs 5657.55 after the company reported 33.3% rise in net profit to Rs 564 crore in Q3 FY23 from Rs 423 crore in Q3 FY22.
Revenue from operations increased by 17.8% YoY to Rs 4,558 crore during the quarter. The company's revenue in the same period last year was Rs 3,870 crore.
EBITDA improved by 19.3% to Rs 729 crore in Q3 FY23 from Rs 611 crore in Q3 FY22. EBITDA margin was 16% in Q3 FY23 as against 15.8% in Q3 FY22.
Vikram Somany, chairman & managing director, said: Our sanitaryware and faucetware divisions, which made up 54% and 33% of our Q3FY23 revenue respectively, registered a 19% and 12% year-over-year increase.
Our overall performance has been positively impacted by the sustained interest from customers to improve and upgrade their homes. During the quarter gone by, we were able to achieve the optimal level of inventory days that we have been working towards for several quarters. Additionally, during Q3FY23, Cera did not have any lost sales for the seventh consecutive quarter.
We are also pleased to report that the Company made notable progress in expanding the production capabilities of its faucetware division. We are confident that our faucetware capacity expansion project will be completed well on schedule.
Furthermore, progress was made in selecting a suitable piece of land in the State of Gujarat for the construction of our new Sanitaryware facility.
The trend of premiumization across our new-age and high-margin products remains strong.
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.
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