Atul Sanghvi, ED of Cera Sanitaryware spoke about the likely benefits from government's focus on sanitation and low housing and housing for all
Affordable housing will be the one where we anticipate a big benefit for companies like us.
Atul Sanghvi, ED of Cera Sanitaryware spoke about the likely benefits from government's focus on sanitation and low housing and housing for all.
Below is the transcript of Atul Sanghvi's interview with Reema Tendulkar and Ekta Batra on CNBC-TV18.
Reema: Can you walk us through the expectations of your industry from the Budget?
A: As the Prime Minister (PM) has announced housing for all by 2022, we anticipate that there will be a big boost in the demand of housing and especially for companies like us. We are very eager to see what exactly transforms in the case of 100 smart cities because I believe that the affordable housing will be the foundation for the smart cities.
Ekta: Can you tell us whether you are already the beneficiary of government orders and in which segment and by how much?
A: Enquiries have started flowing in.
Ekta: Enquiries from where and which segment and for what?
A: We are getting the enquiries for sanitaryware from the corporates who are planning the corporate social responsibility (CSR) activities in sanitation.
Reema: Keeping Swachh Bharat in mind, would you also get into other segments, which could be a beneficiary of that. For instance pipes as well as jet sprays, you are not currently present in that but would that be a segment which would interest you?
A: At the moment, we have decided to concentrate in our core business of sanitaryware and faucets.
Ekta: There was an announcement of bio-toilets in the Railway Budget yesterday; would that in any way be of benefit to you?
A: We are not into that.
Ekta: If you had to tell us whether you have to benefit from one certain programme the most, which one would it be, would it be affordable housing, Swachh Bharat or something else?
A: Affordable housing will be the one where we anticipate a big benefit for companies like us.
Reema: So far you have not got any orders from the government per se?
A: No.
Reema: Would the margins in low cost housing be different from the margins you enjoy otherwise?
A: Definitely, there will be difference. The margins in low cost housing will be less than 50 percent of what we are doing right now.
Reema: If you start targeting, tapping that opportunity should we assume that your margins would be lower than compared to what they are right now?
A: We have to take a balance otherwise overall profitability will get affected.
Cera Sanitary stock price
On February 27, 2015, Cera Sanitaryware closed at Rs 2585.00, down Rs 20, or 0.77 percent. The 52-week high of the share was Rs 2884.00 and the 52-week low was Rs 747.20.
The company's trailing 12-month (TTM) EPS was at Rs 51.27 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 50.42. The latest book value of the company is Rs 176.98 per share. At current value, the price-to-book value of the company is 14.61.
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