Cera Sanitaryware declares its highest-ever dividend, 20% jump in Q4 net profit; shares zoom 5.6%

Cera Sanitaryware, a key player in the business of faucet, tiles, shower and sanitary ware, on Monday declared its highest-ever dividend. The company informed the stock exchanges that its board has recommended a dividend payout of ₹60 per share.

The board has “recommended dividend of Rs. 60/- (1200%) per fully paid-up equity share of Rs. 5/- each for the year ended 31.03.2024,” it said in a regulatory filing. The dividend, if approved by the members at the ensuing annual general meeting on July 11, “will be dispatched/remitted within 30 days from the date of declaration”, Cera Sanitaryware added.

Following the announcement, the company’s shares clocked an intraday high of ₹7,128.15, which was 5.6% higher as against the previous closing price.

However, the shares lost some of the gains by the last trading hour. At 2:35 pm, the scrip was valued at ₹7,057, still 4.64% higher as compared to the last closing price.

Notably, Cera had declared dividend of ₹50 per share last year. This was preceded by a roll out of a special dividend of ₹15 a share and a final dividend of ₹20 per share in 2022.

Cera Sanitaryware Q4 results

Cera also declared the results for the March 2024 quarter on Monday. The company’s consolidated net profit came in at ₹75.7 crore, up 19.7% as compared to ₹63.2 crore in the year-ago period.

The consolidated revenue from operations increased to ₹548.7 crore in Q4FY24, higher by 2.4% as compared to ₹535.5 crore in Q4FY23.

The operational profit, before taxes and exceptional items, stood at ₹99.5 crore during the fourth quarter, as compared to ₹89.1 crore in the year-ago period.

For the entire fiscal year ended March 31, 2024, the consolidated net profit stood at ₹241 crore, higher by 14% as compared to ₹211 crore in FY23.

The consolidated revenue from operations in FY24 increased by 3.8% to ₹1,879 crore, as against ₹1,810 crore in the previous fiscal year.