Multi-layered Marketing Infrastructure Expansion Plan
Robust Financial Position and Protocols
Zero Debt
Company
• Cash and Cash Equivalents of Rs. 687 crore; primarily liquid investments
• No Contingent Liabilities for Joint Ventures
CERA
Sharp Focus
on Efficient
Capital Management
• Fixed Asset turnover of ~6.1x1
Uniform organization-wide policy to monitor receivables - credit not used to drive revenues
• ERP automatically shuts down fresh supplies to dealers / customers with dues in excess of 45-60
days
generation
●
Free Cash Flow
Positive with
Robust Cash Position
• Consistent cash generation each year
• Annual Capex requirement < Free Cash flow
-Dividend + Capex
Operating Cashflow
262
156
Increasing gap between annual cash flow
generation less dividend outflow and capex
120 122 133 123
106
235
98
27
49
57
61
70
70
44
41
• Regularly paid dividends for the last 30 years +
93
62
73 76
86
62
57
FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23
Note 1: As on 31 March 2023
Financial Discipline is Central to the growth strategy
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