Page 2 - Ceat

2W replacement tyre demand in rural market yet to see full revival: CEAT MD

Rural demand for two-wheeler tyres in the replacement segment is yet to see a complete revival but there is optimism that the festive season will give it a fillip, according to CEAT Ltd MD & CEO Arnab Banerjee. With crude prices rising again after the recent geopolitical disturbance, there is uncertainty over crude-based raw material costs and if prices increase it could be a dampener to future growth. "The two-wheeler replacement market is growing year-on-year in strong single digits, which is much much different from quarter one. However, we are yet to see a complete revival in rural demand," Banerjee told PTI. On the challenges in the rural market, he said while monsoon has been good in several parts of the country it was patchy and most of East and North East India didn't get good monsoon. Usually in Q2 demand dips in Q2 because of monsoon but it has not happened, he said adding, "So the market is in a similar state. It has not accelerated yet. Banerjee, however, said in the .

Stocks to Watch today: HDFC Bank, Grasim, JFS, Sugar, Ceat, SpiceJet, BoM

Stocks to watch on Oct 17, 2023: HDFC Bank reported a 50 per cent jump in net in its first results after merger with HDFC; Jio Financial posted 100 per cent growth in net post demerger from Reliance.

Deming Grand Prize aligns with our quality objectives, says CEO Ceat Tyres

We first received the Deming Award in 2017, and earning the Grand Award now underscores our dedication, says Bannerjee

Supercross India plans to invest Rs 150 cr in 3yrs to create racing infra

Supercross India Pvt Ltd, the parent firm of CEAT Indian Supercross Racing League, on Thursday said it plans to invest Rs 150 crore in the next three years. The investment will be towards creating racing infrastructure, grassroots development and ensuring that world-class events across India are held in the next three years, the company said in a statement. "This financial commitment will empower us to implement state-of-the-art technologies and infrastructure, ensuring that our league stands head and shoulders above all other global Supercross events," Supercross India Pvt Ltd co-founder and Director Veer Patel said. CEAT Indian Supercross Racing League (ISRL) is gearing up for its first season, which is set to take place in December 2023, the statement said. Initially, it had planned to start the season in October but was pushed back due to a scheduling conflict with the ICC Cricket World Cup, it said, adding the first season of the league will have races at different venues, and

Stocks to Watch: Tata Motors, L&T, CEAT, Tata Motors DVR, SBI Life, BPCL

Stocks to watch on July 26, 2023: Tata Motors announced the cancellation of its DVR shares. Under the scheme, 7 ordinary shares of the company will be issued for every 10 DVR shares

Ceat zooms 19% to hit an all-time high; m-cap crosses Rs 10,000 crore-mark

In the past two months, the market price of Ceat skyrocketed 50 per cent after margins expansion of the company were back to double digit in the January-March quarter (Q4FY23).

MRF hits Rs 100,000 mark; stock touches record high on the BSE

So far in the current calendar year 2023, MRF has outperformed the market by gaining 14% on improved financial performance. In comparison, the S&P BSE Sensex gained 3% during the period

Ceat hits new summit; zooms over 46% so far this May on strong Q4 results

The management is hopeful that the coming quarters will see further uptick in growth, as commodity prices remain stable, and the global inflation slows down.

Analysts see rich valuations for paint, tyre stocks; time to book profit?

Shares of related companies have gained up to 84 per cent, as against a 14 per cent rise in the S&P BSE Sensex

CEAT's int'l biz, replacement market to see better growth: VC Anant Goenka

Tyre maker CEAT expects recovery in its international business and replacement market, which are more profitable segments, going forward, according to company Vice Chairman Anant Goenka. With raw material prices remaining stable, the company is expecting "double digit plus margins" going forward. "The international business or export segment has faced a little bit of headwinds because of global issues, whether it is the (Russia-Ukraine) war, whether it is currency devaluation of a lot of developing countries...," Goenka told PTI in an interaction. Further, he said the Indian subcontinent -- Sri Lanka, Pakistan, Bangladesh -- have been hit "because of currency and forex related issues", and in the developing world or developed world, there has been a recessionary environment. When asked about the outlook, he said, "We expect international market as well as the replacement market, which are the more profitable segments, to see better times going forward. The international business ..

CEAT rallies over 5% in weak market on 5-fold jump in Q4 net

The tyre-maker reported 420.7 per cent surge in Q4 net profit to Rs 132.42 crore for the quarter ended March 2023 as against Rs 25.43 crore in the year ago period.

CEAT reports five-fold jump in Q4 profit on lower raw material costs

The company recommended a final dividend of Rs 12 rupees per share

Tyre stocks in focus: Ceat, JK Tyre surge up to 11% on healthy margin hopes

Inherent to the tyre industry, raw material costs forms the largest cost head, accounting up to 65 per cent of the total cost, said analysts

Ceat's Anant Goenka resigns to focus on group; Arnab Banerjee to take over

Tyre maker CEAT Ltd on Monday said its Managing Director and CEO Anant Goenka has resigned to focus on group activities and has been named as its Vice Chairman. The company's board has also approved the appointment of Arnab Banerjee, currently Chief Operating Officer, as its new MD and CEO. Goenka expressed his desire to hand over the charge of the company to a successor with a view to focus on initiatives at the group level. Accordingly, he sought to be relieved of his duties as MD & CEO of the company with effect from close of business hours of March 31, 2023, while continuing as a board member, CEAT Ltd said in a regulatory filing. He has been MD and CEO of the company since April 1, 2012, it added. The board has approved the appointment of Goenka as a non-executive non-independent director, designated as Vice Chairman of the company from April 1, 2023, the filing said. CEAT said Anant Goenka, son of RPG Group Chairman Harsh Goenka, will now take up strategic functions at the .

Ceat looks for opportunities as world seeks alternative to China: Official

With the world looking for an alternative to China for sourcing tyres, Ceat Ltd is planning to cash in on the opportunity based on its 'value brand' positioning despite slowdown in many economies, according to company Executive Director, Finance & CFO, Kumar Subbiah. The company, which gets 20 per cent of its total revenue from exports, plans to enter the US market in the later part of the current year, following up on its entry into the European market for truck and bus radial tires last year. In the current fiscal, the company's exports have been flattish as it "took some kind of beating, largely on account of current conditions in Europe and some other countries finding it difficult to get currency to import tyres", Subbiah told PTI. However, he said, "Exports, we expect it to come back to growth path in the coming year, subject to global macroeconomic conditions permitting that kind of growth. We set ourselves ready to take advantage of any requirements. "The world is looking .

Ceat reports Rs 35 crore net profit in Q3, total income increases

Tyre maker Ceat on Wednesday posted a consolidated net profit of Rs 35 crore for the third quarter ended December 2022. The company had reported a net loss of Rs 20 crore in the October-December quarter of the previous fiscal. Total income increased to Rs 2,729 crore in the third quarter from Rs 2,416 crore in the year-ago period, Ceat said in a regulatory filing. "Our margins continue to improve as a result of the cooling commodity prices. Growth is led by domestic demand as we remain cautious about international markets that are getting impacted by recessionary trends," Ceat Managing Director Anant Goenka said. The company's outlook for the ongoing quarter is positive, he added. "We have the capacities available to cater to a growing market demand," Goenka said. Ceat CFO Kumar Subbiah said the company brought down its overall inventories by Rs 280 crore, which helped in bringing efficiencies in operating cash flows and minimising borrowings. "We intend to maintain our capex fo

Ceat is planning to invest in off-highway tyres segment: Anant Goenka

At Ceat we wanted to grow in our international business, and our OEM customers were becoming more and more exacting in their specifications, said Goenka

Sensex, Nifty end flat after volatile day; Metal index up 2%, RIL down 1.5%

CLOSING BELL: RIL (down 1.45 per cent), Tech M, Dr Reddy's Labs, Bharti Airtel, Axis Bank, and TCS were the top laggards

Tyre stocks on a roll; Apollo Tyres hits record high, Ceat 52-week high

The raw material (RM) and other input costs have started softening after a long spell of unprecedented increase, which is likely to improve margins in the medium term for tyre companies

Tyremaker Ceat's Q2 net slumps 81% on higher input costs, revenue up 18.1%

Ceat's revenue from operations rose 18.1% to Rs 28.94 billion in the quarter