Tyre maker Ceat Limited, the flagship subsidiary of India’s RPG Group, reports that its net revenue increased 23.9 per cent year-on-year in the second quarter of its financial year, the three months to 30 September 2021, to Rs 24.52 billion (£237.51 million). Despite growing revenues, EBITDA shrank from Rs 3.06 billion to 2.25 billion (£21.79 million), and the margin contracted 6.3 percentage points to 9.2 per cent. Net profit stood at Rs 420 million (£4.07 million).
Roughly two years after he was appointed Ceat Ltd VP of marketing, Amit Tolani has been named chief executive of Ceat Specialty, effective 1 June 2021. Ceat Specialty has its EU office in Amsterdam and has been serving European farm and OTR tyre customers since 2017. Tolani joined Ceat in 2004 and has served in various roles across sales, marketing and supply chain functions. Prior to his latest appointment, he was the chief marketing officer of CEAT.
Tyre maker Ceat Limited has raised its shareholding in Indian online tyre retailer Tyresnmore Online Private Limited to 44.17 per cent. Ceat paid Rs 24 million (£234,000) to acquire an additional 3.47 per cent in the company.
We first saw the Ceat Torquemax tractor tyre at Agritechnica 2019, and Ceat Specialty has now expanded the range to include very high flexion tyres. The Torquemax VF, aimed at “farmers investing in tyres that offer greater operational efficiencies” for their high-horsepower tractors, is available in sizes VF 520/85R38 170 D TL and VF 710/70R42 185 D TL.
Pirelli is constructing a new tyre warehouse to serve its industrial hub at Settimo Torinese in partnership with BGO Logistic Fund 1, which is backed by investment from BentallGreenOak and managed by Kervis SGR SpA, with GSE Italis acting as general contractor. The project will redevelop the industrial area where the Ceat factory once stood near Pirelli’s industrial hub with a view to creating “greater efficiency and environmental benefits”. The project is scheduled to be completed in 2021.
India’s Ceat Limited is no newcomer to football, having sponsored Italian Serie A club Torino FC since 2018. Nor is the strategic partner to the Indian Premier League cricket cricket series a stranger to sports sponsorship within its homeland. But the tyre maker hasn’t engaged in football in India – until now. Ceat has signed on as the official tyre partner of Jamshedpur FC for the Indian Super League 2020-21.
Ceat Limited commissioned the second phase of its Nagpur plant in India’s Maharashtra state on Monday. The tyre maker says the two-wheeler tyre capacity added by this expansion project will be “be ramped up over a period of time, based on market demand and our overall capacities.”
Ever since Indian tyre maker Ceat established its Ceat Specialty Tyres Ltd. off-highway subsidiary in 2015, it has sought to raise its profile and boost business within the agricultural sector. But what products does the Mumbai-headquartered flagship company of RPG Enterprises, a company that produces over 15 million tyres annually, have under development to help farmers boost productivity? Dyutiman Chattopadhyay, vice president of R&D and Technology at Ceat Specialty, outlines the company’s plans.
The lockdown now in place across India is one of the most radical measures seen to date during the COVID-19 pandemic. As a result, tyre production has come to a standstill at plants across the country. While India’s government exempts the manufacture of “ essential commodities” from the three-week lockdown it hasn’t provided clarity as to what products it considers essential. Therefore it is unclear when tyre manufacture will recommence within the country.
Ceat Limited reports that the Mumbai Bench of India’s National Company Law Tribunal (NCLT) approved the Scheme of Amalgamation for the merger of the wholly-owned subsidiary Ceat Specialty Tyres Limited with Ceat Limited. The NCLT granted approval on 13 March.
Commercial production at Ceat Ltd.’s new production facility near Chennai, India began yesterday, reports the tyre maker. Ceat says production capacity at the plant in Sriperumbudur Taluka will now be “ramped up progressively in a phased manner” up to a daily capacity of 28,500 car tyres and 2,500 motorcycle tyres.
Ceat may well be the largest agricultural tyre maker you’ve never heard of, but the company is intent on changing this. After concentrating recent efforts upon developing products suited to European conditions and needs, the company is now dedicating its energies to intensively promoting and establishing its agricultural range within the region.
CEAT has launched a new website – www.ceatspecilaty.com. Writing in a statement announcing the news, CEAT representatives said: “Moving with the times, we have developed our website to serve you better. Browse through it and stay connected with us at all times.”