Cera Sanitaryware Limited (CERA) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Cera Sanitaryware Limited stock ₹2,872, price ₹4,734, that is 39.3% below the price, quality 65 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.
How to read this chart
60‑month range ₹3,680 – ₹10,204 · fair‑value band ₹1,658 – ₹3,800 · the ₹4,734 price screens above the ₹2,872 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.
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Cera Sanitaryware Limited manufactures, sells, and trades in building material products in India.
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The company offers sanitaryware comprising toilets, wash basins, cistern, seat covers, and fittings; faucets, showers, health faucets, and accessories; floor and wall tiles; shower partitions; kitchen sinks; and vanity cabinets and mirrors under the Senator, CERA Luxe, and CERA brands.
It also exports its products. Cera Sanitaryware Limited was founded in 1980 and is headquartered in Ahmedabad, India.
Stock analysis
Cera Sanitaryware Limited (CERA) currently trades at ₹4,734, while our model-based Fair Value estimate is ₹2,872, 39% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹3,386 per share, and 2 of the 26 models we run sit above the ₹4,734 price.
Bear case: the Asset-Based group reads lowest at ₹832.28, and 24 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: ₹1,658 (bear) to ₹3,800 (bull), the price of ₹4,734 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 65/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Cera Sanitaryware Limited reported revenue of ₹20.5B in FY2026 versus ₹14.4B in FY2022, a compound +9.2%/yr. Reported net income was ₹2.0B in FY2026, compounding +7.8%/yr from FY2022.
Key figures
Market cap ₹61.0B (≈ $650M) Small · P/E ratio 30.2 · P/S ratio 2.70 · EPS (TTM) ₹156.97 · Dividend yield 1.6% · Net margin 9.0% · Return on equity 14.3% · Return on assets (EBIT) 16.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 62 out of 100 (medium confidence).
What moves the price
The share trades about 28% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −33% fair-value upside, at −39%, CERA screens richer than that median.
Fair Value models
Bear₹1,658Fair Value ₹2,872Bull₹3,800
Price ₹4,734 · Downside -39.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (₹50.53 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.88/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+3.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.9%
Start year 2021 (pandemic). Over 10 years: +8.2% a year
Revenue growth 24 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+17.7%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+14.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+12.7%
Dividend (yield on the price)1.6%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.12.7% vs 9.5%, picking up
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.10% → 11%
Pace: the 5-year rate starts in 2021 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+22.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+10.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +17.1% a year for the price and +6.5% for the forecasts.
Compare Cera Sanitaryware Limited with another stock
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Building Products & Equipment · 263 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score65 · Top 25%
Fair Value upside−39.3% · Below median
Profitability
Return on equity (12 months)14.3% · Top 25%
Return on assets10.4% · Top 25%
Net margin (12 months)9.0% · Top 25%
Operating margin (12 months)12.1% · Above median
Growth and dividend
Revenue growth (quarter YoY)25.8% · Top 25%
Dividend yield (12 months)1.6% · Below median
Balance sheet
Debt / equity0.00× · Lowest 25%
Valuation Multiplesvs Building Products & Equipment median · lower = cheaper
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Is Cera Sanitaryware Limited (CERA) overvalued or undervalued?
As of Nov 10, 2026, our model estimates a fair value of ₹2,872 versus a price of ₹4,734, about 39% lower (overvalued).
What is the fair value of CERA?
Our model-based fair value for Cera Sanitaryware Limited is ₹2,872 (as of Nov 10, 2026), built from audited fundamentals. The current price: ₹4,734.
What is the quality score of CERA?
Cera Sanitaryware Limited has a Quality Score of 65/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Cera Sanitaryware Limited (CERA)?
Our model-based price target is the fair value of ₹2,872 (as of Nov 10, 2026) from 26 valuation models. Cautious scenario ₹1,658, optimistic scenario ₹3,800. It is a calculation from audited fundamentals, not an analyst target.
What is the Cera Sanitaryware Limited stock forecast for 2026?
Our models put fair value at ₹2,872, about 39% lower versus a price of ₹4,734 (overvalued). Cautious scenario ₹1,658, optimistic scenario ₹3,800. The calculation is refreshed regularly with new filings.
What is the revenue of Cera Sanitaryware Limited (CERA)?
Cera Sanitaryware Limited reported trailing-twelve-month revenue of about ₹22.6B (latest available figure, as of Nov 10, 2026).
Does Cera Sanitaryware Limited pay a dividend?
Cera Sanitaryware Limited currently shows a dividend yield of 1.58% relative to its recent price (as of Nov 10, 2026).
How much is the dividend of Cera Sanitaryware Limited (CERA) and when is the ex-dividend date?
Cera Sanitaryware Limited pays a dividend of ₹75.00 per share a year, a dividend yield of 1.6%. The last ex-dividend date was Jul 7, 2026. A dividend has been paid every year since at least 2008. The payout ratio is 47.8% of earnings. Free cash flow covers the dividend 1.99 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Cera Sanitaryware Limited (CERA)?
For today's price to be fair in a discounted-cash-flow model, Cera Sanitaryware Limited would have to grow free cash flow by +22.0 % per year for five years (discount rate 12.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +10.9 % per year. As of Nov 10, 2026.
What discount rate (WACC) does the fair value of CERA use?
Our models discount Cera Sanitaryware Limited at 12.4 %: a base by market capitalisation (small), damped by beta 0.00, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Cera Sanitaryware Limited that is +22.0 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.4 %) and the same formula as our fair value.
How much growth has Cera Sanitaryware Limited (CERA) delivered so far?
Over the past 5 years revenue at Cera Sanitaryware Limited grew +10.9 % a year. The price currently implies free-cash-flow growth of +22.0 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Cera Sanitaryware Limited (CERA) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Cera Sanitaryware Limited (+22.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Cera Sanitaryware Limited (CERA)?
The free-cash-flow yield on the price is 3.15 %: that much free cash flow Cera Sanitaryware Limited produces per unit of market value. When it exceeds the discount rate of our models (12.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Cera Sanitaryware Limited (CERA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cera Sanitaryware Limited it is ₹2,872 per share (as of Nov 10, 2026), against a price of ₹4,734. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Cera Sanitaryware Limited stock overvalued or undervalued in 2026?
As of Nov 10, 2026, CERA trades above its calculated fair value: price ₹4,734, fair value ₹2,872, a gap of about −39% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CERA?
No. The price is what the market pays today (₹4,734); the fair value is what the company's own numbers justify (₹2,872). For Cera Sanitaryware Limited the two are ₹1,863 per share apart. That gap is exactly why we show both numbers side by side.
How much is Cera Sanitaryware Limited worth?
The market values Cera Sanitaryware Limited at about ₹61.0B (market capitalisation, as of Nov 10, 2026). Per share that is ₹4,734; our models calculate a fair value of ₹2,872 per share.
What do the bullish and bearish scenarios say about CERA?
Our models span a range for Cera Sanitaryware Limited: cautious scenario ₹1,658, base ₹2,872, optimistic ₹3,800 per share (as of Nov 10, 2026, price ₹4,734). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CERA?
Cera Sanitaryware Limited trades at a price-to-earnings ratio of 30.2 (as of Nov 10, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹2,872 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2017 to 2026), reported earnings: 38.2. Other multiples: P/B 4.2, P/S 2.7, EV/EBITDA 23.3.
How solid is the balance sheet of Cera Sanitaryware Limited (CERA)?
Balance-sheet figures for Cera Sanitaryware Limited (as of Nov 10, 2026): return on equity 14.3%, debt of 0.00 per unit of equity. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is CERA from its 52-week high?
Cera Sanitaryware Limited trades at ₹4,734, about 28% below its 52-week high of ₹6,585 and 7% above the low of ₹4,406 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of ₹2,872 is for.
Which stocks are comparable to Cera Sanitaryware Limited?
From the same area (Industrials) we also value Johnson Controls International plc, Trane Technologies plc, Carrier Global Corporation, Compagnie de Saint-Gobain S.A, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Cera Sanitaryware Limited stock attractive at the current price?
The data as of Nov 10, 2026: price ₹4,734, calculated fair value ₹2,872 (−39%), Quality Score 65/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CERA calculated?
We run Cera Sanitaryware Limited through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ₹2,872 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Cera Sanitaryware Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Cera Sanitaryware Limited (CERA)?
The closing price on Nov 9, 2026 was ₹4,734. Our model-based fair value is ₹2,872, about 39% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cera Sanitaryware Limited right now?
The price sits above even our optimistic bull case (₹3,800). The favourable scenario is already priced in. Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (₹1,658 to ₹3,800) leaves room in how you read the outcome.
Where does the earnings growth of Cera Sanitaryware Limited (CERA) come from?
Earnings per share at Cera Sanitaryware Limited grew +11.9 % a year from 2015 to 2026. Broken into its drivers: revenue per share +8.8 %, EBIT margin +2.4 %, tax rate +2.0 %, residual (interest, one-offs) −1.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Cera Sanitaryware Limited
How large is the market capitalisation of Cera Sanitaryware Limited (CERA)?
The market capitalisation of Cera Sanitaryware Limited is ₹61.0B (≈ $650M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Cera Sanitaryware Limited (CERA)?
The price-to-sales ratio of Cera Sanitaryware Limited is 2.70 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Cera Sanitaryware Limited (CERA)?
Earnings per share at Cera Sanitaryware Limited are ₹156.97 (price ÷ EPS = P/E 30.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Cera Sanitaryware Limited (CERA)?
The dividend yield of Cera Sanitaryware Limited is 1.6% (payout 47.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Cera Sanitaryware Limited (CERA)?
The net margin of Cera Sanitaryware Limited is 9.0% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Cera Sanitaryware Limited (CERA)?
The return on equity (ROE) of Cera Sanitaryware Limited is 14.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Cera Sanitaryware Limited (CERA)?
On an EBIT basis the return on assets of Cera Sanitaryware Limited is 16.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Cera Sanitaryware Limited (CERA)?
The operating margin of Cera Sanitaryware Limited is 12.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cera Sanitaryware Limited (CERA)?
Revenue at Cera Sanitaryware Limited is growing +25.8% versus a year earlier (3y avg +4.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Cera Sanitaryware Limited (CERA)?
Earnings per share at Cera Sanitaryware Limited are growing −0.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Cera Sanitaryware Limited (CERA) hold?
Cera Sanitaryware Limited holds more cash than debt, ₹13.7M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 10, 2026