Cera Sanitaryware Limited saw its share gain in the early trading hours on Monday to reach a new 52-week high of Rs 6,143.90. In the past five days, the stock has gained more than 7 percent after reporting its quarterly earnings.
In the third quarter of FY23, the company reported a total revenue of Rs 457.82 Crores, an increase of 13 percent from Rs 404.46 Crore in Q3FY22. On a sequential basis, their revenue rose by 10 percent from Rs 415.94 Crore.
Their quarterly net profit for the period was Rs 56.89 Crore, which jumped 27 percent Year on Year from Rs 44.75 Crore and 11 percent Quarter on Quarter from Rs 51.14 Crore.
Cera Sanitaryware Ltd is engaged in the business of manufacturing, selling, and trading various kinds of sanitaryware. It is the market leader in the sanitaryware segment in India.
In the past month, the stock has gained approximately 15 percent and in the span of six months, it has zoomed by 25 percent. The stock reached its All time high of Rs 6,430.45 Crore in October 2021 and is currently trading 5 percent away from those levels.
The company has a market capitalization of Rs 7,907 Crore and a dividend yield of 0.58%. The promoters of the company have a 54.48 percent stake with zero shares pledged. In addition to that, the Government Of Singapore holds a 2.02 percent stake.
Brokerage firm Anand Rathi is bullish on Cera Sanitaryware and has recommended a ‘Buy’ rating on the stock with a target price of Rs 7,222 per share which represents an upside of 19% from the current levels.
“While it continues to operate at 100%, it continues to gain market share. The ongoing expansions are on track and the B/S is robust with healthy cash generation. The higher retail share, high SKU-addition focus, price rationalisation, etc., are key positives,” the brokerage highlighted in its report.
Written by Anoushka Roy
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
