1200% Payout: Highest-Ever Rs. 60/Share Dividend Recommended, Ex-Date On 25th June; Buy The BSE 500 Stock?

As of Tuesday's closing session, Cera Sanitaryware, a mid-cap company featured in the S&P BSE 500 index, has a market capitalization of Rs 9,036.42 Cr. When it comes to entire home solutions, CERA is the top supplier. The firm has declared its highest-ever dividend recommendation of Rs 60 per share along with its financial results for the quarter and year ending March 31, 2024.

Cera Sanitaryware Dividend

The Board of Directors "Recommended dividend of Rs. 60/- (1200%) per fully paid-up equity share of Rs. 5/- each for the year ended 31.03.2024. The dividend, if approved by the members at ensuing Annual General Meeting, will be dispatched / remitted within 30 days from the date of declaration," said Cera Sanitaryware in a regulatory filing on Monday.

The company's 26th Annual General Meeting is scheduled to be held on Thursday, the 11th day of July, 2024 and book closure from 26th June, 2024 to 3rd July, 2024 (both days inclusive). As per the data available on BSE, 25th June 2024 will serve as the ex-dividend date for Cera Sanitaryware.

Cera Sanitaryware Financials

Consolidated net profit for the firm was Rs 75.7 crore in the quarter under review, up 19.7% from Rs 63.2 crore during the same period last year. Compared to Rs 535.5 crore in Q4FY23, the consolidated revenue from operations climbed by 2.4% to Rs 548.7 crore in Q4FY24. In the fourth quarter of FY24, the company's EBITDA was Rs 99.5 crore, up from Rs 89.1 crore in the same time last year.

Consolidated net profit for the entire fiscal year ending March 31, 2024, was Rs 241 crore, up 14% from Rs 211 crore in FY23. Compared to the previous fiscal year, which was found at Rs 1,810 crore, the consolidated revenue from operations in FY24 climbed by 3.8% to Rs 1,879 crore.

Cera Sanitaryware Share Price Target

Deven Mehata - Equity Research Analyst at Choice Broking said, "CERA is currently navigating a challenging landscape, trading within a descending channel pattern. Within this pattern, the stock has found notable support in the range of 6600-6700 levels, providing a crucial foothold for potential price stabilization. Conversely, formidable resistance looms around 7500 levels, coinciding with its long-term 200-day Exponential Moving Average (EMA), presenting a significant barrier to upward movement. Currently, CERA finds itself trading below all key moving averages, including the short-term (20-day), medium-term (50-day), and long-term (200-day) EMAs. This underscores the prevailing bearish sentiment and suggests a lack of near-term strength in the stock."

"Investors are advised to exercise caution and await signs of a bullish reversal before considering new positions. Those currently holding shares should closely monitor price action and consider implementing a strict stop-loss strategy, particularly at the critical support level of 6600. A breach of this support zone could potentially signal further weakness and warrant a reassessment of investment strategies," he further commented.

Disclaimer

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