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).
Indian tyre maker Ceat Limited has published its audited results for the three months ending 31 March 2024, the final quarter of its financial year 2024. On a consolidated basis, the company achieved revenue of Rs 299.19 billion (£2.86 billion). EBITDA margin stood at 13.4 per cent, a contraction of 97 bps versus the third quarter. Net profit amounted to Rs 10.23 billion (£97.89 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.
The Deming Prize Committee has awarded its 2023 Deming Grand Prize to Ceat Ltd. The Indian firm is the first tyre maker in the world to gain this top Deming accolade, which is awarded for ongoing excellence in Total Quality Management (TQM).
In January 2022, Ceat announced it had “curbed” its ambition in the truck and bus radial segment and was looking to shift its investment focus to off-highway tyres. The company now appears to have reconsidered this step and is reactivating previously approved TBR capacity expansion plans.
Ceat Limited has announced its unaudited results for the first quarter of its 2024 financial year, the three months ending on 30 June 2023. Consolidated revenue is up 4.1% YoY, to Rs 29.35 billion (£277.7 million), with an EBITA margin of 13.1%.
A new managing director and chief executive officer will take the helm of Ceat Ltd. from 1 April 2023. The Indian tyre maker has appointed current chief operating officer Arnab Banerjee as successor to Anant Goenka in both positions for a term of two years. On this date, Goenka will become Ceat’s vice chairman and in this role will lead parent company RPG Enterprises into “new business segments.”
Amit Tolani has been appointed Ceat Ltd’s vice president – marketing. He is based at Ceat’s headquarters in Mumbai and takes on responsibility for leading the company’s marketing initiatives.
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