Cera Sanitaryware says 'Do It Yourself' products are doing well
Bathroom products maker Cera Sanitaryware on Friday said the company is doing well in 'Do It Yourself' products.
Bathroom products maker Cera Sanitaryware on Friday said the company is doing well in 'Do It Yourself' products.
In an interview to CNBC-TV18, Ayush Bagla, the executive director, said, "The company saw over 90 percent sales in July, August, September, and October.
"Since June we reached 85 percent of the previous year's sales. July onwards we are at 99 percent and above of same sales last year. So, July, August, September, and October, have been very rewarding on a topline basis," he said.
Further, Bagla said the home improvement category rebounded more than estimated, "We also found that granular data on velocity of sales of affordable housing to be much brighter than imagined. So on all fronts, the CERA brand and the brand promise that has been created over 40 years has delivered."
According to Bagla, the company built a cash balance of Rs 96 crore in Q2 and the current cash balance stands at Rs 360 crore. He further added that their theme of catering to tier-III and below and to affordable housing has played out extremely well.
Bagla said Cera launched 81 new stock-keeping units (SKUs) during Q2 and has reduced the working capital days by 20 percent and are currently at 68.
(Edited by : Jomy Pullokaran)
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