Conference Call with Ceat Management and Analysts on Q3FY22 Performance and Outlook. Listen to the full earnings transcript.
Auto Tyres & Rubber products company Ceat declares Q3FY22 result: Q3 FY21-22 Consolidated Revenue stood at Rs. 2,413 crore Consolidated EBITDA stood at Rs. 143 crore, Operating margin of 5.9% On a consolidated basis, the Company’s revenue closed at Rs. 2,413 crore and EBITDA margin stood at 5.9%, a contraction of 327 bps vs Q2 FY21-22. Net loss stood at Rs. 20 crore. On standalone basis, the Company’s revenue stood at Rs. 2,406 crore and EBITDA margin stood at 5.5%, a contraction of 340 bps vs Q2 FY21-22. Net loss stood at Rs. 15 crore. Commenting on the results and operational performance Mr. Anant Goenka, Managing Director, CEAT Limited said, “We are witnessing muted demand in the Replacement segment due to tepid consumer sentiment, higher fuel prices and softer uptick in India’s rural markets. The ongoing semi-conductor shortages continue to impact OEM Passenger segment sales. However, the silver lining is that we have gained market share in the Passenger segment and seen robust growth in the OHT and International Business. The 2-wheeler EV business is another exciting space where we continue to be strong. Our margins continue to be under pressure due to rising commodity prices, which have begun to taper down towards the end of Q3. We are taking necessary corrective actions to cut costs and are looking at appropriate price increases going forward.” Result PDF