To accommodate expected growth in the passenger car and utility vehicle (PCUV) segment, Ceat will soon begin expanding production capacity at its plant in Chennai, India. The tyre maker will increase annual PCUV capacity at the plant by approximately 35 per cent, to around 9.45 million tyres.
Indian tyre maker Ceat Limited has announced its unaudited results for the second quarter of its 2024-25 financial year, which ended on 30 September 2024. On a consolidated basis, the Company’s revenue closed at Rs 33.30 billion (£304.78 million), EBITDA margin stood at 11.1 per cent, a contraction of 102 bps vs Q1 FY24-25. Net profit stood at Rs 1.21 billion (£11.19 million).
Indian tyre maker Ceat Limited has released its unaudited financial results for Q1 2024-25, the quarter ending 30 June 2024. The RPG Group company reports reaching Rs. 31,928.0 million (£294.06 million), with an EBITDA margin of 12.2 per cent, marking a contraction of 124 basis points compared to Q4 FY23-24. Net profit for the quarter stood at Rs. 1,542.0 million (£14.20 million).
Ceat Limited has reported consolidated revenue of Rs 30.53 billion (£301.1 million, US$366.8 million) for the three months ending on 30 September 2023, the second quarter of its 2023-24 financial year. This result reflects a 5.5% year-on-year rise in revenue. The Q2 FY23-24 EBITDA margin was 15.1%, up 202 bps on the prior quarter and 808 bps year-on-year. Net profit amounted to Rs 2.08 billion (£20.5 million, $25.0 million), an amount 44.2% higher than the prior quarter and an eye-watering 3125.5% increase year-on-year.
Indian manufacturer Ceat Limited intends to launch a range of truck radial tyres in Europe during the first half of this year. Speaking during an earnings call yesterday, managing director Anant Goenka said the range would arrive in “four to six months’ time” and further push the strong growth the company is already experiencing in the region. The line-up would be similarly positioned to the “Korean players” in the market, he added.
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).
Despite revenues remaining relatively stable, Ceat Limited endured a massive drop in net profit in the first quarter of its financial year. Consolidated net revenues declined 0.7 per cent year-on-year to Rs 14.6 billion (£175.2 million), while the Indian tyre maker reported a 70.4 per cent per cent decline in EBITA to Rs 580 million (£7.0 million) and shrinkage of the margin from 13.3 per cent to 4.0 per cent. Profit after tax plummeted 99.0 per cent from Rs 1.03 billion (£1.2 million) to Rs 10 million (£120,000).
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