CEAT Q3 FY17-18
Standalone Net Sales grew to Rs. 1550 crore, up 12.1% (YoY)
Standalone EBITDA grows to Rs. 192 crore, by 27.4% (YoY)
Standalone PAT at Rs 91 crores
Standalone EBITDA margins stood at 12.4% as against 10.9% (YoY)
Mumbai, India – 1st February 2018
The Board of directors of CEAT Limited (CIN No: L25100MH1958PLC011041), a flagship company of the RPG Group announced its audited quarterly results which ended on December 31st 2017. On a consolidated basis, the company reported net sales of Rs 1574 crores (up 12.6% YoY). EBITDA grew by 23% (YoY) to stand at Rs 195 crore and PAT during the quarter stood at Rs. 82 crore. On a standalone basis, India operations reported net sales of Rs. 1549 crore (up 12% YoY), PAT of Rs. 91 crore and EBIDTA of Rs. 138 crores (up 14.2% YoY).
Mr. Anant Goenka, Managing Director, CEAT Limited said “We witnessed steady growth in our topline driven by robust volumes across passenger, two-wheelers and commercial vehicle tyres segments. Our margins have also improved with favorable raw material prices and continued cost efficiencies. We expect robust demand to continue in the passenger segment for which we are looking to also increase our capacities. We recently won the prestigious Deming prize for best quality in manufacturing which has further enabled us to strengthen our credibility with OEM manufacturers.”
Mr.Kumar Subbiah, CFO of CEAT Limited, said, “We have managed our raw material procurement well during the quarter while at the same time keeping tight control on our opex spends which has helped us improve our margins. During the quarter, we also managed our working capital well which enabled us reduce high cost borrowings”
About CEAT Ltd (www.ceat.com):
CEAT, the flagship company of RPG Enterprises, was established in 1958. Today, CEAT is one of India’s leading tyre manufacturers and has strong presence in global markets. CEAT produces over 15 million tyres a year and offers the widest range of tyres to all segments and manufactures world-class radials for: heavy-duty trucks and buses, light commercial vehicles, earthmovers, forklifts, tractors, trailers, cars, motorcycles and scooters as well as autorickshaws.
About RPG Enterprises (www.rpggroup.com):
Mumbai head-quartered RPG Enterprises is one of India’s largest industrial conglomerates. With over 15 companies
in its fold, the group has a strong presence across core business sectors such as Infrastructure, Tyre, IT and Specialty.
Established in 1979, RPG Enterprises is one of India’s fastest growing business groups with a turnover in excess of