Cera SanitaryWare Ltd

Latest management interview (link):

  • 50% business is outsourced and rest is done in-house
  • Demand is still greater than supply, currently not experiencing any covid impact
  • Sales breakup: 50-55% sanitaryware (highest margin); 27% faucetware (high margin); rest is tiles (margins lower than consolidated company margins; commoditized business; <300 cr. annual sales)
  • Should double topline in 3.5-4 years

Disclosure: Invested (position size here)

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