Cera Sanitaryware Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹4,728.28Overvalued by 14.34%vs CMP ₹5,520.00

P/E (34.5) × ROE (14.8%) × BV (₹1,142.00) × DY (1.36%)

₹2,657.03Overvalued by 51.87%vs CMP ₹5,520.00

MoS: -107.8% (Negative)Confidence: 63/100 (Moderate)Models: 1 Fair, 8 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹5,081.87	22%	Fair (-7.9%)
Graham Number	Earnings	₹2,057.17	16%	Over (-62.7%)
Earnings Power	Earnings	₹1,484.60	13%	Over (-73.1%)
DCF	Cash Flow	₹2,430.84	13%	Over (-56%)
Net Asset Value	Assets	₹1,141.69	7%	Over (-79.3%)
EV/EBITDA	Enterprise	₹3,053.57	9%	Over (-44.7%)
Earnings Yield	Earnings	₹1,647.00	7%	Over (-70.2%)
ROCE Capital	Returns	₹1,402.98	7%	Over (-74.6%)
Revenue Multiple	Revenue	₹2,227.93	5%	Over (-59.6%)
Consensus (9 models)		₹2,657.03	100%	Overvalued

Key Drivers: Wide model spread (₹1,142–₹5,082) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 7.5%

*Investments are subject to market risks

Analysis summary

Data coverage: Price-data record updated 24 September 2026, 1:54 am +05:30. Annual results through Mar 2025; quarterly results through Dec 2025; cash flow through Mar 2026. Each section can have a different reporting period. The share price is not live.

Valuation in context

Operating performance

Revenue for Mar 2025 was ₹1,915.00 Cr, versus ₹1,871.00 Cr in Mar 2024 (2.4% year on year). Net profit for Mar 2025 was ₹246.00 Cr, versus ₹239.00 Cr in Mar 2024 (2.9% year on year). These are the latest annual periods stored on this page; check the quarterly table separately for more recent developments.

Cash generation

For the same Mar 2025 period, operating cash flow was ₹116.00 Cr against net profit of ₹246.00 Cr. Cash flow covered 0.47 times reported profit. The gap warrants checking receivables, working capital and one-off items in the cash-flow statement.

Balance-sheet check

Reported borrowings were ₹47.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How to use the valuation and peer comparisons

The Intrinsic Value panel combines the available model estimates using the displayed weights. Earnings, cash-flow, dividend and asset-based methods can give very different answers. The displayed 12% cost of equity and 4% terminal growth assumptions apply where relevant; historical EPS growth is not a promise of future growth. Use the individual values and their spread to judge sensitivity.

The peer group follows the stored industry classification and may include different business models. Compare reporting periods, leverage and recurring earnings before interpreting a valuation gap. For banks and other financial businesses, capital adequacy and asset quality can be more informative than industrial-company cash-flow ratios.

Sources: Company data source. Check the company filings linked by the source for the reporting basis and exceptional items.

Automatically generated interpretation of the stored financial data, not a separately researched analyst opinion. Missing data is not evidence of poor performance. New filings become available here after the existing data refresh process captures them.

Investment Snapshot

Cera Sanitaryware Ltd scores 68/100 (Average)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health85/100 · Strong

ROCE 19.2% GoodROE 14.8% GoodD/E 0.01 Low debtInterest Coverage 48.1x StrongProfitable 5/5 available years Reported history

Smart Money65/100 · Strong

FII holding stable No changeDII holding up 0.52% MF buyingPromoter holding at 54.4% Stable

Earnings Quality60/100 · Moderate

CFO/NP ratio: 0.72x Partially cash-backedOPM stable around 16% Steady

Quarterly Momentum50/100 · Moderate

Revenue (4Q): +5% YoY GrowingProfit (4Q): -9% YoY Declining

Industry Rank75/100 · Strong

P/E 34.5 vs industry 48.4 In-lineROCE 19.2% vs industry 10.6% Above peersROE 14.8% vs industry 9.0% Above peers3Y sales CAGR: 10% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores use stored reporting periods and are screening indicators, not investment recommendations. Missing health ratios are excluded. Broad industry groups and financial-sector accounting can limit comparability.

Share Price and Basic Stock Data

Last Updated: September 24, 2026, 1:54 am

Market Cap	7,117 Cr.
Current Price	5,520
Intrinsic Value	₹2,657.03
High / Low	6,740/4,461
Stock P/E	34.5
Book Value	1,142
Dividend Yield	1.36 %
ROCE	19.2 %
ROE	14.8 %
Face Value	5.00
PEG Ratio	4.61

Understand these figures: how to read the P/E ratio, ROE versus earnings per share, and calculate intrinsic value.

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Cera Sanitaryware Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Cera Sanitaryware Ltd	7,117 Cr.	5,520	6,740/4,461	34.5	1,142	1.36 %	19.2 %	14.8 %	5.00
Carysil Ltd	3,086 Cr.	1,085	1,281/732	28.7	214	0.28 %	18.0 %	17.4 %	2.00
Somany Ceramics Ltd	2,446 Cr.	596	602/332	22.3	205	1.01 %	12.8 %	10.4 %	2.00
Nitco Ltd	2,222 Cr.	92.4	120/64.0		15.2	0.00 %	7.16 %	10.8 %	10.0
Asian Granito India Ltd	1,516 Cr.	51.2	79.1/42.5	116	51.4	0.00 %	2.85 %	1.27 %	10.0
Industry Average	4,059.56 Cr	900.05		48.41	212.13	0.58%	10.55%	8.97%	6.10

All Competitor Stocks of Cera Sanitaryware Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	456	533	427	461	437	547	398	490	449	578	419	488	499
Expenses	383	445	358	387	377	455	342	420	390	472	366	421	448
Operating Profit	73	88	68	74	59	92	56	70	59	106	53	67	51
OPM %	16%	17%	16%	16%	14%	17%	14%	14%	13%	18%	13%	14%	10%
Other Income	14	5	16	11	16	16	16	18	12	14	19	17	-7
Interest	1	2	1	1	1	1	1	3	2	2	1	2	2
Depreciation	8	8	8	8	9	9	8	10	10	10	9	10	10
Profit before tax	77	83	75	76	65	98	63	75	60	108	61	72	32
Tax %	27%	25%	25%	25%	22%	23%	25%	10%	23%	21%	24%	22%	27%
Net Profit	56	63	56	57	51	75	47	68	46	86	47	57	24
EPS in Rs	43.34	48.39	43.34	43.74	39.12	57.69	36.11	52.79	35.56	66.35	36.08	43.92	18.35

Last Updated: February 6, 2026, 9:16 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 23, 2026, 5:46 pm

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	664	822	917	1,011	1,182	1,344	1,209	1,202	1,442	1,803	1,871	1,915	1,984
Expenses	569	703	776	841	1,014	1,152	1,045	1,052	1,220	1,510	1,577	1,622	1,707
Operating Profit	95	119	141	171	168	191	164	150	221	293	295	293	277
OPM %	14%	14%	15%	17%	14%	14%	14%	12%	15%	16%	16%	15%	14%
Other Income	6	5	10	11	14	15	14	22	17	25	59	59	42
Interest	6	8	5	5	5	3	4	4	5	5	5	7	7
Depreciation	12	15	16	18	22	23	33	33	30	30	34	39	39
Profit before tax	82	101	129	158	154	180	141	134	203	282	314	306	274
Tax %	37%	33%	36%	34%	35%	36%	18%	25%	27%	26%	24%	19%
Net Profit	52	68	83	104	100	115	116	101	149	210	239	246	212
EPS in Rs	41.02	52.02	64.17	79.94	77.08	88.46	89.14	77.89	114.84	161.20	183.89	191.11	164.70
Dividend Payout %	12%	12%	14%	15%	16%	15%	15%	17%	30%	31%	33%	34%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	30.77%	22.06%	25.30%	-3.85%	15.00%	0.87%	-12.93%	47.52%	40.94%	13.81%	2.93%
Change in YoY Net Profit Growth (%)	0.00%	-8.71%	3.24%	-29.15%	18.85%	-14.13%	-13.80%	60.46%	-6.59%	-27.13%	-10.88%

Cera Sanitaryware Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	9%
5 Years:	10%
3 Years:	10%
TTM:	5%

Compounded Profit Growth
10 Years:	14%
5 Years:	16%
3 Years:	17%
TTM:	7%

Stock Price CAGR
10 Years:	13%
5 Years:	21%
3 Years:	6%
1 Year:	-32%

Return on Equity
10 Years:	18%
5 Years:	17%
3 Years:	19%
Last Year:	18%

Last Updated: September 5, 2025, 1:45 am

Balance Sheet

Last Updated: June 23, 2026, 2:00 am

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	6	6	6	6	6	6	6	6	6	6	6	6
Reserves	345	415	518	598	694	766	868	999	1,163	1,336	1,344	1,466
Borrowings	68	35	34	24	18	33	28	37	46	40	63	47
Other Liabilities	224	290	302	320	371	320	381	385	441	443	427	439
Total Liabilities	644	747	861	949	1,089	1,126	1,283	1,427	1,656	1,825	1,841	1,958
Fixed Assets	215	226	266	279	305	350	330	321	320	356	380	372
CWIP	8	4	0	5	11	1	1	1	17	13	11	7
Investments	48	67	119	139	212	262	513	567	669	807	702	815
Other Assets	374	449	475	525	561	512	440	539	649	649	749	764
Total Assets	644	747	861	949	1,089	1,126	1,283	1,427	1,656	1,825	1,841	1,958

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity +	41	116	112	72	114	123	262	98	156	228	116	212
Cash from Investing Activity +	-117	-38	-92	-36	-102	-76	-243	-70	-101	-140	128	-88
Cash from Financing Activity +	76	-48	-20	-34	-27	-53	-13	-21	-59	-80	-258	-115
Net Cash Flow	-1	30	-0	1	-15	-6	7	7	-3	8	-14	9
Free Cash Flow	-43	92	58	24	73	82	253	85	123	167	89	192
CFO/OP	59%	103%	96%	74%	89%	106%	194%	67%	77%	103%	59%	104%

Free Cash Flow

Free cash flow reported in the stored cash-flow statement (₹ Cr)
Period	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Free Cash Flow	-43.00	92.00	58.00	24.00	73.00	82.00	253.00	85.00	123.00	167.00	89.00	192.00

This table and the chart use the Free Cash Flow row from the same stored cash-flow statement. Free cash flow generally measures operating cash flow after capital expenditure; check the source definition and reporting basis. It is not operating profit minus borrowings.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	59	72	75	80	83	81	67	63	42	38	39	51
Inventory Days	125	120	109	98	104	101	128	96	154	167	148	163
Days Payable	45	46	48	58	50	53	52	81	104	93	75	77
Cash Conversion Cycle	139	145	137	120	136	129	142	78	92	112	112	137
Working Capital Days	33	43	47	43	56	58	66	30	37	43	44	65
ROCE %	35%	32%	30%	31%	26%	27%	19%	16%	22%	26%	25%	22%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	54.48%	54.48%	54.48%	54.48%	54.41%	54.41%	54.41%	54.41%	54.41%	54.41%	54.41%	54.41%
FIIs	20.92%	20.63%	21.93%	21.45%	22.89%	22.17%	20.58%	17.18%	15.83%	14.61%	14.20%	15.42%
DIIs	8.38%	8.38%	6.61%	7.30%	6.06%	6.26%	6.93%	12.06%	13.55%	14.01%	14.18%	14.07%
Public	16.26%	16.53%	16.98%	16.79%	16.64%	17.16%	18.06%	16.33%	16.19%	16.93%	17.18%	16.08%
Others	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%	0.03%	0.02%	0.02%	0.04%	0.04%	0.02%
No. of Shareholders	42,316	34,878	34,804	33,123	1,78,714	1,65,576	1,56,905	1,52,096	1,47,987	1,46,531	1,41,006	1,31,617

Shareholding Pattern Chart

No. of Shareholders

Cera Sanitaryware Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
HSBC Small Cap Fund	338,650	1.13	169.33	N/A	N/A	N/A
Canara Robeco Small Cap Fund	304,497	1.2	152.25	218,823	2025-12-07 15:33:48	39.15%
UTI Value Fund	155,317	0.79	77.66	135,000	2026-02-23 00:58:45	15.05%
Bandhan Flexi Cap Fund	80,000	0.53	40	75,000	2026-02-23 00:58:45	6.67%
Canara Robeco Multi Cap Fund	74,675	0.74	37.34	N/A	N/A	N/A
UTI Dividend Yield Fund	72,190	0.93	36.1	60,000	2026-02-23 00:58:45	20.32%
UTI Small Cap Fund	69,170	0.76	34.59	N/A	N/A	N/A
Tata India Consumer Fund	61,834	1.22	30.92	59,631	2026-02-23 00:58:45	3.69%
UTI ELSS Tax Saver Fund	56,074	0.78	28.04	47,717	2026-02-23 00:58:45	17.51%
Edelweiss Small Cap Fund	55,965	0.52	27.98	N/A	N/A	N/A

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	5.00	5.00	5.00	5.00	5.00
Basic EPS (Rs.)	190.40	183.76	161.01	116.18	77.48
Diluted EPS (Rs.)	190.40	183.76	161.01	116.18	77.48
Cash EPS (Rs.)	224.36	213.65	187.35	142.51	107.24
Book Value[Excl.RevalReserv]/Share (Rs.)	1049.48	1044.56	909.79	791.48	679.28
Book Value[Incl.RevalReserv]/Share (Rs.)	1049.48	1044.56	909.79	791.48	679.28
Revenue From Operations / Share (Rs.)	1493.42	1445.06	1386.69	1111.68	941.37
PBDIT / Share (Rs.)	279.40	278.93	252.61	194.05	140.87
PBIT / Share (Rs.)	247.87	250.83	227.54	169.13	110.45
PBT / Share (Rs.)	240.90	245.16	219.04	160.66	102.97
Net Profit / Share (Rs.)	192.83	185.55	162.27	117.60	76.82
NP After MI And SOA / Share (Rs.)	191.10	183.77	161.01	116.18	77.48
PBDIT Margin (%)	18.70	19.30	18.21	17.45	14.96
PBIT Margin (%)	16.59	17.35	16.40	15.21	11.73
PBT Margin (%)	16.13	16.96	15.79	14.45	10.93
Net Profit Margin (%)	12.91	12.84	11.70	10.57	8.16
NP After MI And SOA Margin (%)	12.79	12.71	11.61	10.45	8.23
Return on Networth / Equity (%)	18.20	17.75	17.85	14.88	11.56
Return on Capital Employeed (%)	21.43	22.26	23.06	19.66	14.29
Return On Assets (%)	13.23	12.95	12.48	9.73	7.31
Long Term Debt / Equity (X)	0.00	0.00	0.00	0.01	0.02
Total Debt / Equity (X)	0.01	0.01	0.02	0.02	0.05
Asset Turnover Ratio (%)	1.04	1.07	1.12	1.03	0.96
Current Ratio (X)	3.82	3.74	3.24	2.68	2.42
Quick Ratio (X)	2.72	2.79	2.27	2.01	1.88
Inventory Turnover Ratio (X)	4.98	0.67	0.76	0.72	0.41
Dividend Payout Ratio (NP) (%)	31.65	27.20	21.73	11.18	0.00
Dividend Payout Ratio (CP) (%)	27.17	23.59	18.80	9.21	0.00
Earning Retention Ratio (%)	68.35	72.80	78.27	88.82	0.00
Cash Earning Retention Ratio (%)	72.83	76.41	81.20	90.79	0.00
Interest Coverage Ratio (X)	48.10	62.32	54.32	47.79	18.83
Interest Coverage Ratio (Post Tax) (X)	34.40	42.72	36.72	31.05	11.27
Enterprise Value (Cr.)	7272.80	8811.02	8314.10	6496.10	5152.10
EV / Net Operating Revenue (X)	3.78	4.69	4.61	4.49	4.21
EV / EBITDA (X)	20.18	24.29	25.31	25.74	28.12
MarketCap / Net Operating Revenue (X)	3.78	4.69	4.60	4.47	4.15
Retention Ratios (%)	68.34	72.79	78.26	88.81	0.00
Price / BV (X)	5.37	6.55	7.08	6.37	5.83
Price / Net Operating Revenue (X)	3.78	4.69	4.60	4.47	4.15
EarningsYield	0.03	0.02	0.02	0.02	0.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Frequently asked questions

What is the intrinsic value of Cera Sanitaryware Ltd and is it undervalued?

Cera Sanitaryware Ltd: the stored intrinsic value estimate is ₹2,657.03, compared with a stored share price of ₹5,520.00. The model value is 51.9% below that quote. The model classifies this as overvalued; it is an estimate dependent on the inputs and assumptions, not a price target or a buy/sell recommendation. The estimate uses the available valuation models and weights shown in the Intrinsic Value panel, including earnings, cash-flow and asset-based approaches where data permits. It is not a P/E-only calculation.

What share price and 52-week range are shown for Cera Sanitaryware Ltd?

The stored share price is ₹5,520.00. Price-data record updated: 24 September 2026, 1:54 am +05:30. This is not a live quote. The stored 52-week high / low is 6,740/4,461; this is a rolling range, not a financial-year range.

How have Cera Sanitaryware Ltd's revenue and profit changed?

Does Cera Sanitaryware Ltd's profit convert into cash?

What should I check in Cera Sanitaryware Ltd's balance sheet?

Reported borrowings were ₹47.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How should I compare Cera Sanitaryware Ltd's P/E with other stocks?

The stored P/E is 34.50. Compare companies with similar business models, growth, leverage and accounting periods. The industry group on this page is broad, and its average can be affected by outliers. A lower P/E alone does not establish undervaluation.

What could change Cera Sanitaryware Ltd's intrinsic value estimate?

Changes in sustainable earnings, cash generation, capital needs, debt and share count can change the estimate. The displayed model uses a 12% cost of equity and 4% terminal growth assumption where applicable. Higher discount rates or weaker growth generally reduce discounted values. Compare the individual model values and weights, and verify fresh filings before relying on the result.