Ceat Q4 margins improve, recovery seen in replacement segment

The company MD is hopeful with Covid restrictions easing in the country, an uptick in GST collections and an improved business sentiment, CEAT can expect a better FY23.

Autocar Pro News Desk By Autocar Pro News Desk calendar 06 May 2022 Views icon3372 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp

Ceat’s Q4 FY22 consolidated revenue stood at Rs 2,592 crore while net profit came in at Rs 25 crore. The Q4 EBITDA margin stood at 7.5 percent, an expansion of 160 bps vs Q3 FY22.On a consolidated basis, the company’s revenue for the full year FY22 closed at Rs 9,363 crore and the PAT came in at Rs 71 crore Net profit stood at Rs 25 crore.

Commenting on the results as well as the outlook of the business, Anant Goenka, managing director, CEAT said, “We are witnessing a recovery in the market, particularly in the replacement and commercial tyre categories. Our international business continues to outperform and we expect it to drive growth in the coming year as well. Margins, however, continue to be under pressure due to rising commodity prices, and other inflationary costs. I am hopeful with Covid restrictions easing in the country, an uptick in GST collections and an improved business sentiment, we can expect a better FY23 for the business.”

Kumar Subbiah, CFO of CEAT added that “Our strong focus on cashflows and tight working capital management during the year has helped us to bring down our gross debt by Rs 146 crore leading to improvement in our leverage ratios and stronger balance sheet.”

RELATED ARTICLES
Lucas TVS ties up with ARENQ for speedy delivery of e-motors and controllers across India

auther Autocar Pro News Desk calendar30 Jan 2023

Strategic association aims to boost Lucas TVS’s EV motor and controller distribution while equipping ARENQ with EV maint...

Omega Seiki to invest Rs 800 crore in EV powertrain and battery plants

auther Autocar Pro News Desk calendar29 Jan 2023

EV manufacturer to set up greenfield plants for EV components in Haryana and Maharashtra; will produce e-powertrains fro...

Orbitsys Tech’s CRM solutions optimise dealer management for smaller OEMs in India

auther Autocar Pro News Desk calendar29 Jan 2023

Gurgaon-based dealer-networking solutions provider is enabling new OEMs to expand swiftly by using its cost-efficient, f...