Mumbai, India – 20th July 2018: CEAT Limited (CIN No: L25100MH1958PLC011041), an RPG Group company, announced its unaudited results for the quarter ending on 30th June, 2018. On a YoY basis, the company’s consolidated revenue grew 16.9% to INR 1,706 crore, PAT was at INR 71 crore — a YoY rise of 409 bps and the EBIDTA grew by 659 basis points to 10.6%.
Commenting on results as well as the outlook of the business, Mr. Anant Goenka, Managing Director, CEAT Limited said, “We are seeing steady growth across all the categories lead by strong revival of commercial vehicle segment. The industry has finally overcome the hiccups after the roll out of GST which had impacted the industry during first two quarters of FY17-18.”
On standalone basis, India operations reported revenue of INR 1,674 crore. EBITDA was at INR 174 crore – an expansion of 668 basis points on a YoY basis. Standalone PAT rose by 333 bps YoY to INR 78 crore for the quarter.
Mr. Kumar Subbiah, CFO of CEAT Limited, said, “The first quarter has been positive for CEAT with a top line growth of 16.9% on YoY basis and 1.9% on sequential basis. With our ongoing CAPEX plans, we have been monitoring and managing our cash flows from operations closely. As a result our consolidated Debt to Equity ratio improved from 0.33 in Q4 FY18 to 0.28 in Q1 FY19.”
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