CERA Sanitaryware Limited (CERA), India's premier sanitaryware, faucet ware, and wellness Company, today announced its standalone and consolidated financial results for the quarter ended September 30, 2021.
Financial Highlights - Q2 FY22
CMD's Message
Commenting on the performance, Vikram Somany, Chairman & Managing Director, said, "We are pleased to report a strong performance during the second quarter of this financial year. The combination of benign interest rates and the pandemic-induced preference for larger spaces, supported by Government incentives for the real estate sector has provided a significant and sustainable tailwind. Customer inclination towards home up-gradation and home improvement is serving to sharply elevate the demand for our products. We are focused on serving this demand by actively managing our production to operate at high utilization levels. Our strategy of steadily investing and upgrading manufacturing capabilities over the last few years has enabled us to deliver high-value, innovative and complex products at scale. This is also insulating us from supply chain disruption being witnessed across the industry due to constraints on imports.
There are challenges from the increase in costs of certain inputs like natural gas and metals. In addition to partly mitigating these pressures through operating leverage gains and pricing power monetization as we have initiated a price hike program across all businesses. New additions to our leadership team will expand the management bandwidth of the organization. We have fortified the existing talent pool of the organization by welcoming Anupam Gupta from Grasim Industries as Executive Director (Technical) on the Board of the company. Gupta has been with the Aditya Birla Group for over eighteen years across India and international locations, of which the last eight years were at Halol, Gujarat. Ajay Jain, from HSIL and earlier Kohler, has taken over as Vice President - Faucetware Manufacturing. V K Murthy has taken over as President (Marketing) after 25 years with HSIL. Mahesh Taparia has joined CERA as Deputy CFO after 18 years in HDFC Bank. Parthiv Dave the Managing Director and CEO of SIAMP India Pvt. Ltd. is in the process of joining CERA as President (Sales & Strategic Affairs). This will enable us to remain ahead of the requirements of the organization.
Our robust in-house manufacturing and R&D capabilities, product and design leadership, extensive product portfolio and wide distribution network, our robust financial position as well as the salience of the CERA brand have placed us favorably to drive accelerated growth."
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( With inputs from ANI )
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