Auto Tyres & Rubber Products company Ceat Announced Q1FY23 Result : Q1 FY22-23 Consolidated Revenue stood at Rs. 2,818 crore Growth of 8.7% QoQ; 47.8% Y0Y Consolidated EBITDA stood at Rs. 171 crore, Operating margin of 6.1% On a consolidated basis, the Company’s revenue closed at Rs. 2,818 crore, EBITDA margin stood at 6.1%, a contraction of 145 bps vs Q4 FY21-22. Net profit stood at Rs. 9 crore. On a standalone basis, the Company’s revenue stood at Rs. 2,803 crore and EBITDA margin stood at 5.9%, a contraction of 133 bps vs Q4 FY21-22. Net profit stood at Rs. 3 crore Commenting on the results as well as the outlook of the business, Mr. Anant Goenka, Managing Director, CEAT Limited, said, “We witnessed a strong topline growth during the quarter, aided by robust momentum in OEM and replacement segments. We continued to ramp up our capacities as demand picked up across categories. However, the continued spike in commodity prices has impacted gross margins, which was partially offset by price adjustments over the last quarter.” Mr. Kumar Subbiah, CFO of CEAT Limited, said, “We continued to keep tight control on cashflows and costs during the quarter. Despite a CAPEX of Rs. 250 crore, we have maintained our net debt level close to the previous quarter. Raw material costs moved up during this period, impacting our margins adversely. However, there has been some correction in the commodity prices recently, and if the trend continues, it will bear a positive impact on the business.” Result PDF
Tyre maker Ceat declares Q4FY22 result: Q4 FY21-22 Consolidated Revenue stood at Rs. 2,592 crore Consolidated EBITDA stood at Rs. 195 crore, Operating margin of 7.5% On a consolidated basis, the Company’s revenue for the full year FY21-22 closed at Rs. 9,363 crore, EBITDA stood at Rs. 739 crore, and PAT stood at Rs. 71 crore. The revenue for the quarter closed at Rs. 2,592 crore and EBITDA margin stood at 7.5%, an expansion of 160 bps vs Q3 FY21-22. Net profit stood at Rs. 25 crore. On standalone basis, the Company’s revenue for the full year FY21-22 closed at Rs. 9,313 crore, EBITDA stood at Rs. 701 crore, and PAT stood at Rs. 54 crore. The revenue for the quarter stood at Rs. 2,576 crore and EBITDA margin stood at 7.2%, an expansion of 170 bps vs Q3 FY21-22. Net profit stood at Rs. 13 crore. Commenting on the results as well as the outlook of the business, Mr. Anant Goenka, Managing Director, CEAT Limited said, “We are witnessing a recovery in the market, particularly in the replacement and commercial tyre categories. Our international business continues to outperform and we expect it to drive growth in the coming year as well. Margins, however, continue to be under pressure due to rising commodity prices, and other inflationary costs. | am hopeful with Covid restrictions easing in the country, an uptick in GST collections and an improved business sentiment, we can expect a better FY23 for the business.” Mr. Kumar Subbiah, CFO of CEAT Limited, said, “Our strong focus on cashflows and tight working capital management during the year has helped us to bring down our gross debt by Rs.146 crore leading to improvement in our leverage ratios and stronger balance sheet.” Result PDF