Cera Sanitaryware Ltd

Cera Sanitaryware Ltd. (formerly Madhusudan Oils and Fats Limited) was incorporated on July 17th, 1998. The Company's main product lines are Sanitaryware, Faucetsware and Bathware. Presently, the Company is engaged in the business of manufacturing, selling and trading of building products and is having non-conventional wind & solar power for captive use in the State of Gujarat. During 2002-03, the company introduced a water saver EWC. Cera Sanitaryware discontinued its Fixed Deposit Scheme from the Financial Year 2012-13. During the year ended 31 March 2014, Cera Sanitaryware expanded its annual production capacity of sanitaryware to 2.7 Mn. Pcs. for meeting the increased demand of its products. As a part of company's green initiative and to reduce power cost, the company's two wind-turbines of 2.850 MW capacities had been commissioned during the year at Dist. Surendranagar & Dist. Jamnagar in Gujarat. During the year under review, the company repaid loans of Rs. 610.00 Lacs to Financial Institutions and Banks. During the year ended 31 March 2015, Cera Sanitaryware expanded its annual production capacity of sanitaryware to 3 Mn. Pcs. for meeting the increased demand of its products. The new ranges and designs of Faucets have been well accepted by the market. The company attained its full capacity in the year. Owing to this success, the company has further expanded its Faucets capacity to 2.34 Mn.Pcs. p.a. As a part of national policy and Green initiative, generation of electricity through non-conventional sources and to stabilize power cost, Cera Sanitaryware installed two wind-turbines of 4 MW and solar energy of 1 MW capacity at Dist. Jamnagar & Dist. Mehsana respectively in Gujarat during the year ended 31 March 2015. During the year under review, the company repaid loans of Rs. 675.02 lacs to Financial Institutions and Banks. Anjani Tiles Limited became subsidiary of the Company w.e.f. 23rd November, 2015. In March 2015, Cera Sanitaryware issued 3,51,000 equity shares on preferential basis. During the financial year ended 31 March 2016, Cera Sanitaryware repaid loans of Rs 890.30 Lacs to Financial Institutions and Banks. The expansion plan of Cera Sanitaryware's Faucetsware unit was attained in 2015-16. During the year under review, the company launched CERA Style Studios on Wheels, a novel concept to take CERA products to the doorsteps of key decision makers like architects, developers, etc. The company also strengthened CERA Care, its after-sales division with induction of technicians for taking care of its services in all key cities of the country. During the financial year ended 31 March 2017, Cera Sanitaryware's topline crossed Rs. 1000 crore - an important milestone in the history of the company. During the year under review, the company repaid loans of Rs. 890.30 Lacs to Financial Institutions and Banks. During the year under review, the company opened expanded CERA Style Studios, its touch and feel experience centres, in Kolkata and Kochi. Cera Sanitaryware has entered into a Joint Venture with Anjani Tiles Limited at Andhra Pradesh with 51% Equity and 54% Preference Share holding in aggregate amounting to Rs 2933 Lakhs (Previous Year Rs 2678 Lakhs) for producing Vitrified Floor Tiles of 10000 Sq. Mtr. per day. Anjani Tiles Limited became subsidiary of Cera Sanitaryware w.e.f. 23rd November, 2015. The commercial production of tiles from this plant has started from 1 April 2016. During the year ended 31 March 2018, Cera Sanitaryware's Zamac plant for manufacturing of Zamac handles has commissioned and commercial production commenced which has helped the company to stop imports. During the year under review, the company launched two brands to cater to all price segments-JEET for mass segment and SENATOR by CERA for premium segment. The company launched new designs in faucets, tiles, Sanitaryware, wellness, kitchen sinks and mirrors, thereby keeping up and even ahead of the market trend. The company opened several CERA Style Galleries across India to give touch and feel experience to its customers. The Company installed and commissioned additional M.W Solar Energy Unit during the year. During the year under review, Cera Sanitaryware repaid loans of Rs 533.53 Lakhs to Financial Institutions and Banks. During FY 2019, the company had a Meg's launch of new range of tiles, which was witnessed by over 500 dealers and 200 architects from all over India. The event established CERA's supremacy in range and quality of tiles. Apart from the existing JV with Anjani Tiles Limited in Andhra Pradesh, the Company also entered into a JV with Milo Tiles LLP in Morbi, thus helping it in reaching out to West, North and East markets. During the year 2019, the company entered into a Joint Venture with Milo Tiles LLP (earlier Crown Ceramics - an established production facility since 2015) at Morbi, Gujarat with 26% equity amounting to Rs. 806 lakhs for producing high end Glazed Vitrified Floor Tiles of 7000 sq. mtr. per day. During the year 2019, the Company's subsidiary, namely Race Polymer Arts LLP was incorporated with 51% capital contribution by the Company for manufacturing of polymer products like seat cover, cistern, fittings and other products made from polypropylene (PP). On 14th May, 2019 the Board of Directors at their meeting had approved discontinuance of business operations of Cera Sanitaryware Ltd FZC- Sharjah, UAE and completed all its formalities. In August 2021, the Company entered into a Joint Venture with Anjani Tiles Ltd at Andhra Pradesh with 51% Equity (since 2015) and Milo Tiles LLP at Morbi, Gujarat with 26% Equity (since 2019) for producing high end Glazed Vitrified Floor Tiles of 16000 Sq. Mtr. per day. Pursuant to the Memorandum of Understanding (MOU) and Share Purchase Agreement (SPA), the Share Escrow Agreement was executed by the Company (CERA), Anjali Vishnu Holdings Ltd. (AVHL) and Anjani Tiles Limited (ATL) with Federal Bank Ltd. (Escrow Agent) jointly on 23rd November, 2021 for transfer / divestment of entire stake in Equity and Preference Shares of Anjani Tiles Limited for the total consideration of Rs. 2,869.20 lakhs. The Company, AVHL and ATL also entered into Share Purchase Agreement (SPA) dated 26th August, 2021 pursuant to which the Company agreed to sell all the Equity and Preference Shares held by it in ATL to AVHL. On 15th December 2021, CERA launched a new product, Unboxing Smiles. in Delhi. During FY'22, the company launched new products in JEET. It made rapid strides in the Tiles segment by launching the latest Slabs, large format sizes and new designs and sizes in both floor and wall categories. The Joint venture for Polymer Products unit for manufacture of seat covers and cisterns with 51% Equity started its commercial production. CERA supported channel partners by helping them to build brand stores like Cera Style Galleries, Cera Style Hub, Cera Style Centre, Cera Tile Galleries and Cera Tile Centres. This created a strong brand visibility in the market and also gave consumers an experience to remember and facilitate better decision making. It revamped company owned display centre 'Cera Style Studio' in Kolkata to support trade. CERA Superstar retailer / sub dealer loyalty program was launched towards the purchases made by associate partners (Retailers) from CERA's authorised dealers. It launched 25 new products in Bathware Unit during the FY'22. Besides this, new Covid-appropriate products like anti-bacterial seat covers were developed and launched. It developed new/latest designs of onepiece WCs and high-end wall hung WCs to reduce dependency on imports. Several Covid-appropriate products like rimless WCs, sensor urinals, etc. were rolled out by Sanitaryware unit. It has been in the forefront of technology and automation. After introducing 3D printing and robotic glazing technologies, the Company launched high pressure casting system. During 2022-23, M/s Anjani Tiles Limited ceased to be a subsidiary of Company effective from 23rd March, 2023. In 2023, the Company launched new colour faucet designs into Faucet ware Unit. New technology-based products like Smart electronic toilet, Senator by Cera was re-introduced with latest collection of premium bathroom suites and electronic smart toilet. Lustre by Cera was introduced with vibrant colours in Sanitaryware, Faucets and Allied categories; launched Sensor based Tankless Wall hung closets. India's largest portfolio of One Piece EWC's got launched with Vibe sense touchless flush technology; introduced new portfolio of modern, stylish and aspirational drop in, free standing, back to wall and air-water massage bathtubs; More than 500+ new designs launched in Tiles. Also, introduced new portfolio of Kitchen Sinks and Customized Shower Partitions.