Growth of 6.7% Q-o-Q; 8.8% Y-o-Y
Consolidated EBITDA Rs. 388.2 crore, Operating margin 12.2%
Bangalore – CEAT Limited (CIN No: L25100MH1958PLC011041), an RPG Group company, announced its unaudited results for the first quarter ended on 30th June 2024. On a consolidated basis, the Company’s revenue closed at Rs. 3,192.8crore, EBITDA margin stood at 12.2%, a contraction of 124 bps vs Q4 FY23-24. Net profit stood at Rs. 154.2 crore.
Commenting on the results as well asthe outlook of the business, Mr. Arnab Banerjee, MD & CEO, CEAT Limited said, “We are encouraged by the strong growth we’ve had in the replacement and export segments across all categories during the quarter. Despite facing margin pressure from significant increases in raw material costs and ocean freight, we are actively mitigating these challenges through strategic price adjustments. Our strategic focus on premiumizing passenger car tyres has begun to yield positive results. Looking ahead, we anticipate continued momentum in volume throughout Q2 and beyond. Additionally, we are front-loading our CAPEX this year to ensure we are well-prepared to meet rising demand.”
On a standalone basis, the Company’s revenue stood at Rs. 3,168.2 crore and EBITDA margin stood at 12.0%, a contraction of 121 bps vs Q4 FY23-24. Net profit stood at Rs. 149.2crore. Mr. Kumar Subbiah, CFO of CEAT Limited, said, “We witnessed a good growth of ~8.8% in the topline consolidated Y-O-Y basis, largely driven by volumes. The operations margin declined during the quarter,primarily due to an increase in commodity costs and higher marketing spends, while we maintained strong controls over operating and manpower costs, ensuring efficient resource utilization and sustained financial health. We incurred a CAPEX of Rs.254 Crores during the quarter, in line with our plan, largely from internal accruals.”
