Cera Sanitaryware - A Safe Investment

I know I have been very late in suggesting this stock, but the stocks seems to follow "its never too late" strategy in investment.
You won't believe that when I was first told about this script, it was trading around 205. I still remember that, as me and one of my friend were tracking it and it went 7-10% up on that same day to levels of 230 or so. We both were like, let's wait for some correction in the script, and then we will invest. I think this was about 14-15 months back, and then we both seriously dont know, when this stock reached 500, as we just kept on waiting and watching.
It is definitely not one of those which will prove to be a multibagger, but definitely it can give you decent returns on your investment. (Far better returns than investing in banks. :-))

I can't think of any other company right now, where the growth has been so steady and so consistent. Each of our company had atleast 1 year, where the linear pattern of growth is affected, but this is an exception.
It has been growing at a steady pace with growth(%) increasing every year.
The growth in past 5 years is 20% -> 27% -> 32% -> 52% (From 2008-09 to 2012-13)

Recently I visited Amanora Town Center in Pune, which is considered one of the largest malls in Pune. The entire mall had Cera products fitted in the rest rooms. When such a reputed mall uses certain products, definitely many other small and large malls coming up sooner or later will get inspired. This is what I believe. :-)

I also found this in report from Angel Broking which further grows our confidence in the company:
"CSL has expanded its capacity of sanitaryware unit from 2.0mn pieces per annum (p.a.) to 2.7mn pieces p.a. in FY2013 and is planning to expand it further to 3mn pieces p.a. in FY2014. The expansion will thus enable CSL to en-cash on the opportunity emerging from the consistently growing sanitaryware demand owing to factors like urbanization, rising standard of living, changing lifestyle, growing construction activities etc. Simultaneously, high brand visibility, due to consistent marketing efforts (marketing cost has grown at 46.3% CAGR over FY2008-13), is expected to further boost revenue growth going forward."

Stock Price Estimates:
The stock is slightly expensive at this moment, but still looks a good buy. More than the current performance, the stock is more trading at this price, because of speculations regarding the bright future of the company. As I said, it may not become multi-bagger from these levels, but definitely can give you good returns in long term.