CEAT Q3 Results Announcement

Q3 FY20-21 Consolidated Revenue stood at Rs. 2,221 crore

Consolidated EBITDA stood at Rs. 339 crore, Operating margin of 15.3%

New Delhi, India - 19th January 2021:

CEAT Limited (CIN No: L25100MH1958PLC011041), an RPG Group company, announced its unaudited results for the third quarter and nine months ending on 31^st December 2020.

On a consolidated basis, the Company’s revenue closed at Rs. 2,221 crore and EBITDA margin stood at 15.3%, an expansion of 460 bps vs same quarter last year. Net profit stood at Rs. 132 crore.

Commenting on the results as well as the outlook of the business, Mr. Anant Goenka, Managing Director, CEAT Limited said, “We are pleased to see yet another quarter of strong performance with a topline YoY growth of 26.1% and a sequential growth of 12.3%. This quarter’s growth has been achieved on the back of new capacities across segments, particularly passenger car, two-wheeler and farm segments. The Replacement market has been buoyant because of consumer preference in personal mobility and strong rural demand. All our factories are currently operating at high capacity levels and we are confident in maintaining strong growth levels over the next few months. There is expected to be some margin pressure in the next quarter due to increasing raw material prices.”  

On standalone basis, the Company’s revenue stood at Rs. 2,212 crore and EBITDA margin stood at 14.7%, an expansion of 430 bps vs same quarter last year. Net profit stood at Rs. 128 crore.

Mr. Kumar Subbiah, CFO of CEAT Limited, said, "We delivered healthy consolidated EBITDA margin at 15.3% for the quarter driven by strong improvement in the revenues, product mix and strong cost controls. Our continuous effort to judiciously manage our cash helped in bringing down our debt by Rs. 260 crore during the quarter that helped in qualitative improvement in the leverage ratios and our balance sheet.”

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 a 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 auto-rickshaws.

About RPG Enterprises (www.rpggroup.com):

RPG Enterprises, established in 1979, is one of India’s fastest-growing business groups with a turnover of US$ 4 Billion. The group has diverse business interests in the areas of Infrastructure, Tyres, Pharma, IT and Specialty as well as in emerging innovation led technology businesses.