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CEAT Ltd News

Expect double-digit growth in int'l tyre biz despite price hike: CEAT

Tyre maker CEAT Ltd expects double-digit growth in replacement and international business this fiscal despite a high natural rubber price forcing it to hike product rates, according to its MD and CEO Arnab Banerjee. The company, which has taken price hikes of 2-2.5 per cent in the replacement segment since May, expects another round of increase towards the end of July but is betting on robust demand across categories and turnaround of the rural market to drive growth. "We would like to think that unless there are some unforeseen headwinds, the growth will be steady and positive. We would like to maintain double-digit growth in the replacement segment and international business," Banerjee told PTI. As for the company's sales to OEM, he said, "We see growth potential much ahead of 3 per cent in the passenger segment for CEAT on the basis of the model pipeline". In the first quarter of the ongoing fiscal, the company had posted good topline growth as rural demand has come back while .

Expect double-digit growth in int'l tyre biz despite price hike: CEAT
Updated On : 21 Jul 2024 | 2:30 PM IST

CEAT Tyres announces two-year partnership with Bayer 04 Leverkusen

The Indian tyre maker becomes official tyre partner of the football club for next 2 years

CEAT Tyres announces two-year partnership with Bayer 04 Leverkusen
Updated On : 19 Jul 2024 | 7:24 PM IST

CEAT Q1 results: Profit rises 2.74% to Rs 149.79 cr, revenue up 8.79%

On a sequential basis, the company exhibited a 6.73 per cent increase in revenue, along with PAT, which also rose by 32.04 per cent

CEAT Q1 results: Profit rises 2.74% to Rs 149.79 cr, revenue up 8.79%
Updated On : 18 Jul 2024 | 7:44 PM IST

Amid price hike reports, shares of tyre companies rally for second day

According to media reports, domestic tyre companies have undertaken a price hike in response to a rise in key raw material prices (primarily natural rubber).

Amid price hike reports, shares of tyre companies rally for second day
Updated On : 15 Jul 2024 | 2:12 PM IST

Tyre stocks in focus; JK Tyre, Ceat, TVS, Goodyear rally up to 12%

Balkrishna Industries said in its FY24 annual report said that there has been a notable increase in demand for vehicles globally, which provide growth opportunities for tire industry.

Tyre stocks in focus; JK Tyre, Ceat, TVS, Goodyear rally up to 12%
Updated On : 28 Jun 2024 | 3:04 PM IST

CEAT stock plunges 9% as Q4 net misses Street expectations

CEAT stock reacts to Q4 earnings; CEAT March quarter net dipped 23 per cent YoY to Rs 102 crore as against the Bloomberg analyst expectations of Rs 169 crore.

CEAT stock plunges 9% as Q4 net misses Street expectations
Updated On : 03 May 2024 | 11:28 AM IST

Ceat Q4 results: Net profit falls 18.8% to Rs 109 cr on higher rubber costs

Ceat, whose customers include automakers Maruti Suzuki and Mahindra & Mahindra, is the first Indian tyremaker to report results this quarter

Ceat Q4 results: Net profit falls 18.8% to Rs 109 cr on higher rubber costs
Updated On : 02 May 2024 | 10:39 PM IST

CEAT eyes opportunity in replacement tyre market growth fuelled by PV sales

Tyre maker CEAT Ltd is looking to cash in on the growth of passenger vehicles sales in India, which will boost demand in the replacement market going forward, according to the company Managing Director & CEO Arnab Banerjee. The company is also gearing up to enter the passenger vehicles (PV) and truck and bus radial (TBR) tyre market in the US in the first quarter of the next fiscal, with an eye on making its international business one of the growth engines. "Four million cars means immediate translation into replacement demand in the next two to three years. So it is a very good trajectory. The Original Equipment Manufacturer (OEM) trajectory is boding very well for the replacement market," Banerjee told PTI. He was responding to a query on the impact of the growth of PV sales in India on tyre makers. In 2023, PV sales in India touched a record high at 41.08 lakh units, growing by 8.3 per cent over the previous year driven by SUVs, which accounted for almost half of the total ...

CEAT eyes opportunity in replacement tyre market growth fuelled by PV sales
Updated On : 28 Jan 2024 | 12:27 PM IST

Ceat Q3 PAT rises 5-fold as margin pressure eases, reaches Rs 181.48 cr

Ceat's share price rose by 4.34 per cent, ending the day's trade at Rs 2,875 apiece on the BSE

Ceat Q3 PAT rises 5-fold as margin pressure eases, reaches Rs 181.48 cr
Updated On : 24 Jan 2024 | 8:43 PM IST