Ceat Tyres

With the world looking for an alternative to China for sourcing tyres, Ceat Ltd is planning to cash in on the opportunity based on its 'value brand' positioning despite slowdown in many economies, according to company Executive Director, Finance & CFO, Kumar Subbiah. The company, which gets 20 per cent of its total revenue from exports, plans to enter the US market in the later part of the current year, following up on its entry into the European market for truck and bus radial tires last year. In the current fiscal, the company's exports have been flattish as it "took some kind of beating, largely on account of current conditions in Europe and some other countries finding it difficult to get currency to import tyres", Subbiah told PTI. However, he said, "Exports, we expect it to come back to growth path in the coming year, subject to global macroeconomic conditions permitting that kind of growth. We set ourselves ready to take advantage of any requirements. "The world is looking .

Most tyre stocks including JK Tyre, Apollo Tyres, CEAT, MRF and TVS Srichakra look strong on technical charts, looking to rally up to 16 per cent

Higher raw material prices had punctured sequential margins of major tyremakers

Going forward, the management of Ceat expects the second half of this year to be better in terms of revenue and margins because of improving domestic demand and stabilising commodity prices.

Ceat's revenue from operations rose 18.1% to Rs 28.94 billion in the quarter

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Stock of tyre maker was up 20% on Thursday

The company expects the overall tyre industry to perform well due to easing of pandemic-led curbs, pent-up demand from OEMs, and replacement segment.

CEAT Ltd plans to expand its tyre sales network in places with population of 5,000-10,000 via its FMCG style of distribution, aiming to double outlets to 1 lakh in two to three years, company COO Arnab Banerjee said on Friday. The company, which has successfully partnered with kirana store operators, small automobile spare parts sellers and puncture repair shops, feels that it has more or less "saturated" penetration in places with 25,000 population in the country and there is a need to go to even lesser populated areas for its two-wheeler tyres. What started around 2011-2012 as a step to come closer to rural two-wheeler customers, who otherwise had to travel over 25 kilometres to buy replacement tyres, has now yielded good returns for CEAT, contributing around 70 per cent of its overall sales from the replacement segment, Banerjee said. "We have a total of 50,000 outlets, which we plan to double to 1,00,000 in the coming years. For that one huge operation is going on for further ..

Tyre major Ceat on Thursday reported an 84 per cent decline in its consolidated net profit to Rs 25 crore for the fourth quarter ended March 2022.

The extent of the raw material risk is more for tyres as compared to others given the dependence on the crude oil derivatives.

One of the sources said the case was related to an antitrust investigation into the use of unfair trade practices and rigging of bids while supplying tyres for public transport vehicles in Haryana

India's antitrust body on Wednesday raided the offices of tyre companies including India's Ceat, Apollo Tyres and Germany's Continental AG in an alleged case of competition law violations

The company had posted a net profit of Rs 132 crore in the third quarter of the financial year 2020-21

While the steep increase in input costs continued to put pressure on margins, there was a slight increase in debt levels as well, largely on account of higher capex and higher inventory, Ceat said.

Tyre maker Ceat Ltd on Monday reported a 77 per cent decline in consolidated net profit at Rs 42.28 crore for the second quarter ended September 30, impacted by higher input costs

Tyre major Ceat is aiming at increasing production capacity to around 1,400 tonne a day over next18 months as it looks to cater to enhanced demand in both domestic and export markets

India's tyre sector is seeking effective collaboration with raw material partners to harness its potential, industry body Automotive Tyre Manufacturers Association (ATMA) said.

Muted near term outlook given raw material costs, lower demand

Any move below the zero line is inferred as a bearish signal where prices are expected to fall further.