CEAT gains after strong Q4 result

CEAT advanced 2.99% to Rs 795 at 12:25 IST on BSE after consolidated net profit rose 50.4% to Rs 93.91 crore on 2.1% growth in total income to Rs 1488.64 crore in Q4 March 2015 over Q4 March 2014.

The result was announced after trading hours on Friday, 22 May 2015.

Meanwhile, the BSE Sensex was down 137.48 points, or 0.49%, to 27,820.02

On BSE, so far 95,270 shares were traded in the counter, compared with an average volume of 77,658 shares in the past one quarter.

The stock hit a high of Rs 810.60 and a low of Rs 788.50 so far during the day. The stock hit a record high of Rs 1,009 on 12 November 2014. The stock hit a 52-week low of Rs 419.10 on 30 May 2014.

The stock had underperformed the market over the past one month till 22 May 2015, falling 3.88% compared with Sensex's 0.24% rise. The scrip however, outperformed the market in past one quarter, falling 2.65% as against Sensex's 4.36% fall.

The mid-cap company has an equity capital of Rs 40.45 crore. Face value per share is Rs 10.

CEAT's EBIDA margin rose to 12.7% in Q4 March 2015 from 11.2% in Q4 March 2014.

CEAT Managing Director, Anant Goenka, said the company experienced a steady growth in the replacement market and in the passenger categories of tyres during the year ended 31 March 2015. CEAT has also added new OEMs to its portfolio which will benefit the company in the longer run, he added.

CEAT's board of directors at its meeting held on 22 May 2015, approved issue of non-convertible debentures upto Rs 500 crore in one or more tranches.

CEAT, the flagship company of RPG Enterprises, is one of India's leading tyre manufacturers and has strong presence in global markets and has a capacity of 700 tonne per day.

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