Reviews

CERA SANITARYWARE 

Ticker : 532443
FV:  Rs 5 52-Week H/L: Rs 4300/2709 

We had recommended Cera Sanitaryware in Volume No 34 Issue No 4 (dated Nov 13, 2017) when the scrip was trading at Rs 3,395. Our recommendation was backed by factors like robust financial growth and tie-up with the Italian brand. Recently, company announced a plan for a new polymer project for manufacturing seat covers, cisterns, fittings and other related products made of plastics. For Q4FY18, its revenue is up by 10.9 percent YoY. EBITDA and PAT declined by 1.8 percent and 6.2 percent respectively on YoY basis. For FY18, EBITDA was flattish, and PAT declined by 3.6 percent It has declared dividend of Rs 12 per equity share. We expect upcoming quarters to remain flat and hence recommend investors to partially reduce exposure to the scrip and EXIT later. 

FIEM INDUSTRIES 

Ticker: 532768
FV: Rs 10 52-Week H/L: Rs 1057.95/810 

We had recommended Fiem Industries in Volume No 34, Issue No 25 (dated Apr 09, 2018), when the scrip was trading at Rs 922. Our recommendation was backed by factors such as robust financial performance and rising demand for LEDs. In December 2017, the company had signed MoUs with two Japanese firms in a joint venture for manufacturing fuel pump module and IC connector assembly for 2-wheelers and 3-wheelers. Under the BS VI norms, both these components would be mandatory and will have a huge market in India.On the financial front, we expect growth in the company's top-line and margins in the upcoming quarters. Thus, we urge investors to HOLD the scrip