BITDA stood at Rs 194 crore, margins at 13.7%
CEAT Limited, an RPG Group company, announced its unaudited results for the second quarter ending September 30th, 2016. On a consolidated basis, the company’s revenue stood at Rs 1,419 crore in Q2 FY17, up by 5.7% on a year or year basis. EBITDA stood at Rs 194 crore from Rs 192 crore on a year on year basis, while margins stood at 13.7% for Q2 FY17.
On a standalone basis, India operations reported revenue of Rs 1,405 crore, EBITDA of Rs 185 crore and PAT of Rs 102 crore.
“In this quarter, CEAT’s overall sales volume grew by over 13% on a YoY basis. This was led by double-digit growth in both domestic and exports segments aided largely by our focus on the passenger segments. Margins have seen slight decline YoY, predominantly due to price cuts taken during the previous quarters. On the products front, CEAT launched Puncture Safe tyres for bikes – a first in India, and FuelSmarrt series for passenger cars. ” Mr. Anant Goenka, Managing Director, CEAT Ltd, stated.
“We continued to maintain our leverage ratios at healthy levels. Our debt equity ratio continues to remain at 0.3x and debt to EBITDA at 1.0x. CEAT’s Long term credit rating has been upgraded by CARE Ratings to ‘AA (Double A)’ from ‘AA- (Double A minus)’. This is a testimony of our continued focus on strengthening the Balance Sheet, while we invest for future growth.” Mr. Manoj Jaiswal, Chief Financial Officer, CEAT Ltd, said.
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