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Cera Sanitaryware Limited (CERA) Fair Value & Analysis

Industrials · IN · Market cap ₹81.5B

CS Cera Sanitaryware Limited CERA · NSE
Price₹5,886
Fair Value₹2,715
Upside-53.9%
Quality65/100
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Healthy Growth
Thin margins · 10.0% net margin
Low debt · generates free cash flow
1.18% dividend yield
Mixed vs. peers (8/14)
Moderate moat 62/100
Evidence: High Range ₹1,685 – ₹3,394 Share as image

Fair value as of: Aug 2, 2026

From 26 valuation models · updated 11 days ago

Share price −4.3% over the past month.

A solid business, but screening 54% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹3,394). 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 (₹1,685 to ₹3,394) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹10,322 ₹3,672 Fair Value ₹2,715 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 2, 2026.

How to read this chart

60‑month range ₹3,672 – ₹10,322 · fair‑value band ₹1,685 – ₹3,394 · the ₹5,886 price screens above the ₹2,715 fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Cera Sanitaryware Limited (CERA) currently trades at ₹5,886, while our model-based Fair Value estimate is ₹2,715, implying the stock looks roughly 53.9% overvalued today. The Quality Score stands at 65/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Cera Sanitaryware Limited generated revenue of ₹20.5B at a net margin of 10.0%. Revenue grew 10.9% year over year. It earns a return on equity of 14.4%. The balance sheet holds a net cash position of ₹13.7M. Fundamentals as of Aug 2, 2026

Our scenario range runs from ₹1,685 (bear case) to ₹3,394 (bull case); at ₹5,886, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 17% below its 52-week high and 32% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -33% fair-value upside, at -54%, CERA screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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. Evidence
Highest evidence
Growth DCF ₹2,051 ₹3,777 ₹6,847 80
Residual Income ₹1,110 ₹1,389 ₹3,187 76
Rev-Margin DCF ₹1,804 ₹3,217 ₹5,140 74
All 26 models by family
DCF Models
FCF DCF ₹2,092 ₹3,988 ₹7,708 38
Owner Earnings ₹2,404 ₹4,669 ₹8,874 31
5Y Revenue Exit ₹1,804 ₹3,267 ₹5,313 39
5Y EBITDA Exit ₹1,995 ₹3,680 ₹5,865 41
5Y P/E Exit ₹2,294 ₹4,327 ₹6,753 38
10Y Revenue Exit ₹1,824 ₹3,280 ₹5,648 36
10Y EBITDA Exit ₹2,012 ₹3,591 ₹6,132 37
10Y P/E Exit ₹2,215 ₹4,079 ₹6,912 35
Earnings-Based
Graham-Dodd ₹1,077 ₹5,844 ₹8,103 54
Lynch FV ₹1,621 ₹2,315 ₹3,010 50
PEG = 1.0 ₹1,621 ₹2,315 ₹3,010 46
EPV ₹1,260 ₹1,464 ₹1,642 59
Dividend Discount
Gordon GGM ₹596.91 ₹1,241 ₹1,969 70
DDM Multi-Stage ₹596.91 ₹1,047 ₹1,303 61
Multiples
P/E Multiple ₹2,494 ₹3,326 ₹4,157 63
P/S Multiple ₹2,019 ₹2,692 ₹3,365 58
P/B Multiple ₹2,019 ₹2,692 ₹3,365 55
EV/EBIT ₹2,316 ₹3,076 ₹3,836 53
EV/EBITDA ₹2,072 ₹2,751 ₹3,429 54
EV/Revenue ₹1,664 ₹2,361 ₹3,058 43
Asset-Based
NCAV (Graham) ₹570.99 ₹765.12 ₹1,142 50
Growth DCF
Growth DCF ₹2,051 ₹3,777 ₹6,847 80
Rev-Margin DCF ₹1,804 ₹3,217 ₹5,140 74
Economic Profit
Residual Income ₹1,110 ₹1,389 ₹3,187 76
ROIC Compounder ₹1,333 ₹1,859 ₹2,362 72
Growth Earnings
Growth-Adj P/E ₹2,370 ₹3,386 ₹4,402 68

Widest divergence: DCF Models (₹3,680) versus Asset-Based (₹765.12). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹20.5B
Revenue growth (YoY) +10.9%
Net margin 10.0%
Return on equity 14.4%
Free cash flow ₹1.9B FY2026
P/E ratio 40.0
More key figures
Operating margin 13.7%
EPS (TTM) ₹158.26
Dividend yield 1.2%
EPS growth (YoY) -9.7%
Net cash ₹13.7M FY2026

Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 64 · Market factors (momentum, volatility) 56

Profitability 62
Margins and returns on capital today
Quality Growth 18
Are margins and returns improving?
Cashflow 55
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 78
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 44
Price trend over the last 3–12 months (market factor)
52W Momentum 40
Distance to the 52-week high (market factor)
Net Issuance 85
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Cera Sanitaryware Limited manufactures, sells, and trades in building material products in India. 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, …

Full company description

Cera Sanitaryware Limited manufactures, sells, and trades in building material products in India. 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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

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.

Growth Quality 88/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹20.5B
Latest YoY
+3.2%
Avg. growth/yr (3Y) 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.
+4.4%
Avg. growth/yr (5Y) 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.
+10.9%
Avg. growth/yr (24Y) 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.
+17.7%
Revenue +9.2%/yr
FY22 ₹14.4B
FY23 ₹18.0B
FY24 ₹18.8B
FY25 ₹19.9B
FY26 ₹20.5B
Net income +7.8%/yr
FY22 ₹1.5B
FY23 ₹2.1B
FY24 ₹2.4B
FY25 ₹2.5B
FY26 ₹2.0B
Character of growth · EPS growth decomposed (2015-2026) +11.9 % p.a.
Revenue per share +8.8 pp

of which total revenue +8.8 pp · buybacks/dilution +0.0 pp

EBIT margin +2.4 pp
Tax rate +2.0 pp
Residual (interest, one-offs) −1.3 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

CERA screens 54% overvalued. Compare with Trane Technologies plc →

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Cite: Fair Value Calculator (2026). "Cera Sanitaryware Limited Fair Value". https://www.fairvalue-calculator.com/stock/CERA

Peer Group

Building Products & Equipment · 251 stocks

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.

Quality Score 65 · Top 25%
Fair Value upside −54% · Below median
Return on equity (TTM) 14% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 10% · Top 25%
Operating margin (TTM) 14% · Top 25%
Revenue growth 11% · Above median
Dividend yield (TTM) 1.2% · Below median
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Building Products & Equipment median · lower = cheaper

P/E (TTM) 40.0× · Pricier than median
P/B 5.54× · Pricier than 75% of peers
P/S (TTM) 3.98× · Pricier than 75% of peers
P/FCF 0.4× · Cheaper than 75% of peers
EV/EBITDA 30.1× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 3
FUTURE 55 · sector 8
PAST 58 · sector 22
HEALTH 100 · sector 94
DIVIDEND 24 · sector 30

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Building Products & Equipment stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

Stock Price Fair Value vs Fair Value
Trane Technologies plc TT $469.98 $212.34 -55%
Johnson Controls International plc JCI $142.81 $45.65 -68%
Carrier Global Corporation CARR $68.61 $17.35 -75%
Compagnie de Saint-Gobain S.A SGO €76.62 €101.60 +33%
Geberit AG GEBN CHF 523.20 CHF 307.66 -41%
Lennox International Inc LII $543.93 $363.09 -33%
Kingspan Group KRX €87.30 €70.76 -19%
Masco Corporation MAS $78.04 $54.36 -30%
PT Impack Pratama Industri Tbk, IMPC 1,420 IDR 179.76 IDR -87%
NIBE Industrier AB NIBEB kr 36.03 kr 25.37 -30%

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Frequently asked questions

Is Cera Sanitaryware Limited (CERA) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of ₹2,715 versus a price of ₹5,886, about −54% (overvalued).
What is the fair value of CERA?
Our model-based fair value for Cera Sanitaryware Limited is ₹2,715 (as of Aug 2, 2026), built from audited fundamentals. The current price is ₹5,886.
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 revenue of Cera Sanitaryware Limited (CERA)?
Cera Sanitaryware Limited reported trailing-twelve-month revenue of about ₹20.5B (latest available figure, as of Aug 2, 2026).
What is the net profit margin of CERA?
The net profit margin of Cera Sanitaryware Limited is about 10.0%, meaning it keeps roughly 10.0% of revenue as net income. Based on the latest reported figures.
Does Cera Sanitaryware Limited pay a dividend?
Cera Sanitaryware Limited currently shows a dividend yield of about 1.18% relative to its recent price (as of Aug 2, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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