Quarterly Results: CEAT Ltd

Technical View: 

Ceat Ltd., ended at Rs. 1220.5, up by 20.25 points or 1.69% from its earlier closing of Rs. 1200.25 on the BSE.

The scrip touched a high and low of Rs. 1233 and Rs. 1200.25 respectively, after opening at 1200.25. In totality 684581(NSE+BSE) shares were traded on the counter; and the stock is trading below its 50 DMA.

Consolidated Results Q2FY17: (Rs. in crore)


***EBITDA margin change in bps

Ceat Ltd’s Q2FY17 numbers have beaten street estimates. Revenue has come in 11.6% greater than the estimate of Rs 1430 cr. EBITDA margin is lesser by 109 bps from the estimate of 12.7%. Net profit is 15.1% greater than the estimated figure of Rs 93 cr.

The quarter's revenue has climbed 5.1% yoy to Rs 1597 cr. This can be attributed to double digit growth in both domestic and export segment supported largely by focus on passenger segment.

Ceat's reported EBITDA has marginally surged by 1.2% yoy to Rs 185 cr while EBITDA margins have shrunken by 45 bps yoy to 11.6%,  owing to pricing pressure.

The company's net profit has surged by 1.6% yoy to Rs 107 cr due to 27% yoy dip in finance cost.