Cera Sanitaryware Limited

CERA.BO

Construction Materials · Basic Materials

Price

₹6017.95

-29.10 (-0.48%)

Market Cap

₹77.59B

Exchange

Bombay Stock Exchange

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Jul 26, 2026 · filings through Mar 31, 2026

Cera Sanitaryware Ltd. engages in the business of manufacturing, selling, and trading of building products. It offers sanitary ware, faucets, tiles, shower, kitchen sinks, mirrors, wellness, and personal care products. The company was founded by Vikram Somany in 1980 and is headquartered in Ahmedabad, India.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+10.9% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

-9.7% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (3%)

R&D spend declining — could signal cost-cutting or efficiency

Cash Position

Cash flow positive

$8.7B cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Cera Sanitaryware Limited is a rare growth stock that's already generating positive cash flow while growing at 11%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

−0.8% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 13.0M (2022) → 12.9M (2026)

Score breakdown

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Quality

Gross Margin

34.7%

Modest — 34.7% gross margin

Operating Margin

13.7%

Healthy — 13.7% operating margin

ROCE

5.9%

Weak — 5.9% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+6.6%

Slow sales growth (6.6% YoY)

EPS YoY

-16.9%

Earnings shrinking (-16.9% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

37%

Weak — only 37% of profit becomes cash

FCF Margin

3.2%

Thin free cash flow (3.2%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.01

Conservative — low debt load (0.01)

Interest Cover

35.43x

Comfortably covers interest (35.4x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

38.0x

Pricey — P/E 38.0

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward

+8.2

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (38.0 → 29.8)

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Dividends

Dividend Yield

1.25%

Small dividend — 1.25% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

+237.8%

Dividend growing fast (237.8% YoY)

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