Ceat Ltd.

NSE: CEATLTD | BSE: 500878 | ISIN: INE482A01020 |Industry: Auto Tyres & Rubber Products
|Value Stock, Under Radar
1140.10 -11.15 (-0.97%)
NSE Dec 02, 2021 15:31 PM
Volume: 61,421
 

Ceat Ltd.    
26 Oct 2021
1140.10
-0.97%

Highlights:

  • Net revenue grew by 28.6% to INR 2,452 Crs from INR 1,906 Crs
  • Gross margin contracted to 36.9% from 38.9%
  • EBITDA stood at INR 225 Crs compared to INR 173 Crs; margins at 9.2% v/s 9.1%
  • PAT stood at INR 42 Crs compared to INR 23 Crs
  • Debt / equity at 0.60x compared to 0.53x
  • Net revenue from operations grew by 23.9% to INR 2,452  Crs from INR 1,978 Crs
  • Gross margin contracted to 36.9% from 46.5%
  • EBITDA stood at INR 225 Crs compared to INR 306 Crs; margins at 9.2% v/s 15.5%
  • PAT stood at INR 42 Crs compared to INR 182 Crs
  • Debt / equity at 0.60x compared to 0.59x

Commenting on the results and operational performance Mr. Anant Goenka, Managing Director, CEAT Limited said, “Overall market demand continues to be robust, despite some lag in Commercial and Farm categories. We witnessed strong growth of 28% compared to preceding quarter on account of good performance in Replacement market, particularly in the passenger segments. The rising input cost has impacted our gross margins; however, it has been partially offset by price adjustments over the last quarter.

Diversity & Inclusion, Sustainability, and Digitalisation play an essential part in our success, and we have done some exciting work in all these domains during the quarter. We have also continued to remain focused on workplace safety and the well-being of our employees.”

On standalone basis, the Company’s revenue stood at Rs. 2,432 crore and EBITDA margin stood at 8.9%, an expansion of close to 17 bps vs Q1 FY21-22. Net profit stood at Rs. 36 crore.

Mr. Kumar Subbiah, CFO of CEAT Limited, said, “During the quarter, we have achieved good top line growth and have managed our costs very well. Our margins are in line with Q1. While the steep increase in input costs continued to put pressure on our margins, there was a slight increase in Debt levels as well, largely on account of higher capex and higher inventory.”

 

 

Result PDF

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Ceat Ltd. has an average target of 1502.00 from 6 brokers.
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