CEAT PAT surges to INR 121 crore, up 134% in Q1

CEAT PAT surges to INR 121 crore, up 134% in Q1

CEAT Limited (CIN No: L25100MH1958PLC011041), an RPG Group company, announced its unaudited results for the first quarter ended June 30, 2015. On a consolidated basis, the company’s revenue remained flat at Rs 1,456 crore, PAT increased by 134% to Rs. 121 crore and the EBITDA increased by 65% to Rs 224 crore on a YoY basis. The consolidated EBITDA margins rose to 15.4% in Q1 FY15-16 compared to 9.3% in Q1 last year.

On standalone basis, India operations reported revenue of Rs 1,407 crore. EBITDA increased by 72% to Rs 217 crore on a YoY basis. EBITDA margins went up to 15.4% compared to 9.0% in the corresponding quarter of the previous year. Standalone PAT rose by 152% YoY to Rs 118 crore for the quarter.

Mr. Anant Goenka who is the Managing Director of CEAT Limited, said,

In this quarter, our sales growth was flat; however margins have improved largely due to lower raw material cost coupled with improving product mix.

Leverage ratios have improved further in this quarter. Debt / equity has come down from 1.0 times in Q1 last year to 0.4 times this quarter. Debt to EBITDA has improved from 2.1 in Q1 last year to 0.8 times this quarter

, he added.

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, and has a capacity of over 800 tonnes per day.

RPG Enterprises, established in 1979, is one of India’s fastest growing business groups with a turnover of Rs 18,000 crore. The group has diverse business interests in the areas of Tyre, Infrastructure, IT and Specialty.