CEAT up 6% on 14% YoY growth in Q4 EBITDA, partial resumption of operations

The company has resumed operations at most of its factories with easing in lockdown restrictions, and is gradually witnessing pick up in demand as well, Kumar Subbiah, CFO of CEAT said

Shares of CEAT advanced 6.3 per cent to Rs 820 on the BSE on Friday after the tyre manufacturer's standalone operating performance improved during the March quarter of FY20 (Q4FY20) despite subdued demand amid Covid-19 outbreak.

It's standalone EBITDA logged a 14.4 per cent YoY rise at Rs 190 crore for Q4FY20, while margin improved to 12.5 per cent, up 280 bps YoY. For the whole FY20, EBITDA came in at Rs 705 crore, up 10.6 per cent YoY.

On consolidated basis, the company's EBITDA for FY20 was Rs 740 crore, up 12 per cent compared to previous fiscal, while