Q4 2024 Cera Sanitaryware Ltd Earnings Call Transcript
Key Points
- Cera Sanitaryware Ltd (BOM:532443) achieved a revenue of INR547 crores in Q4 FY24, reflecting a growth of 2.6% compared to Q4 FY23.
- The company experienced a notable increase in EBITDA and EBITDA margins, with EBITDA rising by 11.2% and margins improving to 19.3% in Q4 FY24.
- Cera Sanitaryware Ltd (BOM:532443) has successfully expanded its dealer network, growing from 5,400 to 6,200 dealers, and increased its retailer base from 14,500 to 19,300.
- The company has introduced a luxury brand and rejuvenated the Senator brand, aiming to capture a larger share of the luxury segment, which is expected to grow rapidly.
- Cera Sanitaryware Ltd (BOM:532443) has maintained a strong cash position with cash and cash equivalents standing at INR828 crores as of March 31, 2024, showcasing an increase of 20.5% compared to the previous year.
- The company anticipates sluggish demand conditions to continue in Q1 FY25, exacerbated by general elections and extreme heat wave conditions.
- Sanitaryware revenue registered a decrease of 2% in Q4 FY24, indicating challenges in this segment.
- Gross margins declined by 3% in Q4 FY24 due to higher discounts offered to address challenging market conditions.
- Tiles revenue decreased by 10% in Q4 FY24, reflecting a decline in this segment.
- Despite the increase in dealer and retailer touchpoints, the overall growth rate excluding tiles was only 4% for the full year FY24, indicating muted demand.
Ladies and gentlemen, good day, and welcome to the Q4 FY24 earnings conference call of Cera Sanitaryware Limited. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Devrishi Singh from CDR India. Thank you, and over to you, sir.
Thank you. Good morning, everyone, and thank you for joining us on the earnings conference call for Cera Sanitaryware Limited for Q4 FY24 earnings, which were announced yesterday, we have with us today the management team comprising Mr. Vikas Kothari - CFO and Mr. Deepak Chaudhary - General Manager, Finance of Cera Sanitaryware. We will start with brief opening remarks from the management following which we will open the call for Q&A.
A quick disclaimer before we begin, some of the statements made in today's conference call may be forward-looking in nature and a detailed note in this regard is contained in the results documents that have been shared with all of you earlier.
I would now like to turn the call over
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