CEAT Quarter 4 Results

Q4 FY19-20 Standalone EBITDA stood at Rs. 190, up 14.4% (YoY)

Standalone EBITDA margins stood at 12.5%, improvement of 280 bps (YoY)

New Delhi, India - 28th May 2020:

CEAT Limited (CIN No: L25100MH1958PLC011041), an RPG Group company, announced its audited results for the quarter and year ending on 31st March 2020.

On a consolidated basis, the Company’s revenue for the full year FY20 closed at Rs. 6,779 crore, EBITDA stood at Rs. 741 crore, up by 11.8% vs last year, and PAT stood at Rs. 230 crore. The revenue for the quarter stood at Rs. 1,573 crore, EBITDA Margin stood at 12.9%, an expansion of 340 bps vs same quarter last year, and PAT stood at Rs. 52 crore.

Commenting on results as well as the outlook of the business, Mr. Anant Goenka, Managing Director, CEAT Limited said, "The health & safety of our employees has been our priority over the last 2 months. We have also focussed on cash flows and cost control during these times. Engaging with our customers, suppliers and the community through continuous communication and assistance has helped strengthen our relationships during these challenging times. In Q4, our EBITDA margins have shown improvement despite the disruption caused by COVID-19. Our teams as well, have shown great resilience and we continue to make concerted efforts towards ensuring we are ready as demand picks up.  We have resumed operations at most of our factories and with the ease in restrictions and lockdowns, we are gradually seeing a pick-up in demand as well."

On standalone basis, the Company’s revenue for the full year FY20 closed at Rs. 6,581 crore, EBITDA stood at Rs. 705 crore, up by 10.6% vs last year, and PAT stood at Rs. 271 crore. The revenue for the quarter stood at Rs. 1,524 crore, EBITDA Margin stood at 12.5%, an expansion of 280 bps vs same quarter last year, and PAT stood at Rs. 56 crore.

Mr. Kumar Subbiah, CFO of CEAT Limited, said, “We managed to deliver good improvement in EBITDA margins in Q4 despite a drop in revenues in the second half of March due to COVID-19. Better product mix, lower raw material cost and strong cost controls helped in the expansion of margins. Our profit for the quarter has considered exceptional cost of Rs 28 crore relating to VRS for employees and COVID-19 related provisions. Our continuous focus on operating cashflow during the quarter helped in ending the year with healthy debt level and financial leverage ratios."

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.

CEAT strengthens its association with Hyundai with the launch of new CSUV ‘Venue’

New Delhi, 21^st May 2019: CEAT Limited, a leading Indian tyre manufacturer today announced its association with Hyundai for their new car ‘Venue’ in the subcompact UV space. CEAT’s SecuraDrive Tubeless tyres are specially customized for this model and will be available in 215/60R16 size. These tyres are designed to provide a comfortable driving experience and superior control at high speeds.

CEAT SecuraDrive Tubeless tyres have an enhanced pitch sequence that helps in lowering noise levels while commuting and delivering an extremely comfortable driving experience. Additionally, the wide longitudinal grooves, smart compounding and mixing technology of the SecuraDrive Tubeless tyres help keep the vehicle within the driver’s control on wet and dry road conditions.

Commenting on this association, Mr. Amit Tolani, Vice President - Marketing, CEAT Ltd said: “It’s a pleasure to partner with Hyundai once again for the launch of Venue. We are glad to deliver SecuraDrive Tubeless tyres as per Hyundai’s expectations of low rolling resistance for excellent control at high speeds while maintaining safety and comfort of the passenger and driver on a priority.”

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 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 Rs. 23000 Cr. The group has diverse business interests in the areas of Infrastructure, Tyre, Pharma, IT and Speciality as well as in emerging innovation-led technology businesses.

CEAT Revenue up by 4.4% in Q4 FY18-19 (YoY), at Rs 1,760 crore

EBIDTA stands at Rs 166 crore

PAT stands at Rs 64 crore

Highlights Q4 FY18-19:

·         Revenue growth of 4.4% to Rs 1,760 crore

·         EBIDTA stands at Rs 166 crore

·         Profit stands at Rs 64 crore

Highlights FY18-19:

·         Revenue at Rs 6,985 crore, a growth of 11.2%

·         Profit at Rs 251 crore

·         Net worth went up by Rs 161 crore to stand at Rs 2,790 crore

·         Debt to Equity stands at 0.54

New Delhi, India – 7th May 2019

CEAT Limited (CIN No: L25100MH1958PLC011041), an RPG Group company, announced its audited results for the quarter and year ending March 31, 2019. On a consolidated basis, the Company’s Q4 FY18-19 revenue stood at Rs 1,760 crore, a growth of 4.4% over the same period last year. EBITDA for the same period stood at Rs 166 crore, translating into a 9.4% margin, while Profit stood at Rs 64 crore. On a standalone basis, the India operations reported a revenue of Rs 1,717 crore with EBITDA at 9.7% and PAT at 4.5%.

CEAT closed FY19 with a total consolidated revenue of Rs 6,985 crore, a growth of 11.2% over last year. EBITDA grew at 3.9% to stand at Rs 663 crore. PAT for the year was Rs 251 crore.

Commenting on the results as well as the outlook for the business, Mr. Anant Goenka, Managing Director, CEAT Limited said, “In the past year, we have endeavoured to sustain our growth trajectory during what was a rather muted period. The impact of rising crude prices and production cuts by automobile manufacturers has been felt across the auto and ancillary industry. However, CEAT continues its capacity expansions as planned with Halol’s Truck and Bus radial plant commencing operations in February.”

Talking about the full-year standalone performance, the company registered a revenue growth of 10% to close at Rs 6,831 crore. EBITDA margin for the same period stood at 9.3%. Profit stood at Rs 289 crore, a margin of 4.2%.

Mr. Kumar Subbiah, CFO, CEAT Limited, said, “We exercised tight control over discretionary operational expenses during the quarter and overall cash flow covering both Capital Expenditure and working capital during the quarter and this is reflected in our margins.’’

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 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 Rs. 23000 Cr. The group has diverse business interests in the areas of Infrastructure, Tyre, Pharma, IT and Speciality as well as in emerging innovation-led technology businesses.

CEAT appoints Amit Tolani as Vice President – Marketing

New Delhi, 9^th April 2019: CEAT Ltd., a leading Indian tyre manufacturer, has appointed Mr. Amit Tolani as Vice President–Marketing. Mr. Tolani will be based out of CEAT’s headquarters in Mumbai and will be responsible for spearheading the marketing initiatives of the company. Mr. Tolani’s appointment as Vice President-Marketing is a testament to CEAT’s vision of cultivating leaders out of its internal talent.     

Mr. Tolani has been with CEAT for over 13 years and has experience in domains like: After Market Sales, Supply Chain, Strategy and Strategic OEM Partnerships. Before becoming Vice President-Marketing, he led CEAT’s OEM business, which included sales & business development. He also has experience in the field of International business and has managed CEAT businesses across Americas, Europe, Africa, Middle East and South East Asia.

Commenting on his appointment, Arnab Banerjee, COO, CEAT Ltd said, “We are delighted to have Mr. Tolani as the newest member to spearhead our marketing organization. He has played a significant role in CEAT’s growth journey. I am confident that his rich experience across various business verticals will prove to be an asset in achieving the vision of our company.”

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 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 Rs. 23000 Cr. The group has diverse business interests in the areas of Infrastructure, Tyre, Pharma, IT and Speciality as well as in emerging innovation-led technology businesses.