The Q4FY15 results of Cera Sanitaryware have not gone down too well. The numbers were declared yesterday after which it hit the lower circuit and today too, it is down in the red. The stock is down over 3.5% at Rs.2109, going down to the day’s low point at Rs.1965.

The company, for the fourth quarter, posted a 15% (YoY) drop in net sales at Rs.250 crore, which was its lowest growth since Sept’09 quarter. Though net profit showed a 14% growth at Rs.22 crore, the market was more perturbed with the huge drop in EBITDA margin – it was down 200 bps to 14.4% from 16.11%. The company has blamed this performance on weak demand.