Cera Sanitaryware reported largely flat revenue at INR 488 crore for Q2 FY26. EBITDA stood at INR 67 crore with a margin of 13.8%. Sanitaryware revenue grew by 1.4%, while Faucetware declined by 3.5%. The company maintains a positive outlook, expecting 7-8% revenue growth for the full fiscal year, driven by improved demand in the second half. They anticipate margins to remain between 14.5% and 15%.
Financial Performance
Cera Sanitaryware announced its earnings for Q2 FY26, with revenue from operations at INR 488 crore, remaining largely flat compared to INR 490 crore in Q2 FY25. EBITDA, without other income, was INR 67 crore, a slight decrease from INR 70 crore in the previous year. The EBITDA margin stood at 13.8%, slightly down from 14.2% in Q2 FY25, attributed primarily to increased input costs, partially offset by improved operational efficiency and cost optimization.
Segment Performance
The revenue contributions by segment for the quarter were as follows: Sanitaryware at 47%, Faucetware at 40%, Tiles at 11%, and Wellness at 2%. Year-on-year, Sanitaryware revenue grew by 1.4%, Tiles by 3.1%, and Wellness by 3.2%, while Faucetware revenues decreased by 3.5%. The decline in Faucetware revenue is mainly due to the high base of the previous period due to price increases.
Strategic Initiatives
Cera Sanitaryware highlighted several strategic initiatives including the rollout of a Dealer Management System (DMS) to strengthen their distribution network and improve data visibility. The premium brand, Senator, and the recently launched Polipluz, continue to make encouraging progress. As of November 12, 2025, 28 Senator stores are already operational, with a target of 45 to 50 stores by FY26 end. New product launches contributed about 33% of the overall sales during the quarter.
Outlook and Guidance
The company anticipates a revenue growth of 7% to 8% for the full fiscal year, driven by improved demand in the second half (H2). They expect to maintain operating margins in the range of 14.5% to 15%. Project sales accounted for 39% of the topline in Q2 FY26, benefiting from strong brand equity and relationships across the developer ecosystem.
Other Key Points
Cera Sanitaryware completed the exit from two of its LLPs, Race Polymer Arts LLP and Packcart Packaging LLP, effective from September 29, 2025. The company has divested its stake in these entities and will report numbers on a standalone basis going forward. For FY26, Cera has earmarked a capex outlay of around INR 23 crore, mainly for routine maintenance and brand presence strengthening.
Source: BSE