CEAT jumped 5.38% to Rs 1188 after the company's consolidated net profit surged 318% to Rs 182.20 crore in Q2 FY21 from Rs 43.6 crore in the same period last year.
Net revenue from operations increased 17% year-on-year (YoY) to Rs 1,978.5 crore during the quarter. Raw material costs rose by 6% to Rs 1,059.20 crore in Q2 FY21 from Rs 995.60 crore in Q2 FY20.
EBITDA jumped to Rs 305.80 crore in Q2 September 2020 from Rs 175.20 crore in Q2 September 2019. EBITDA margin stood at 15.5% as on 30 September 2020 as against 10.4% as on 30 September 2019.
Profit before tax (PBT) surged 144% to Rs 180.7 crore in Q2 FY21 as against Rs 74.20 crore in Q2 FY20.
The company's debt/equity ratio stood at 0.59x in Q2FY21 lower than 0.64x in Q2FY20.
Separately, the tyre maker informed about the appointment of Priya Nair as an additional director in the capacity of independent director for a term of 5 years with effect from 27 October 2020, based on the recommendations of the nomination and remuneration committee (NRC) and subject to approval of appointment by the shareholders of the company.
CEAT, the flagship company of RPG Enterprises, is a tyre manufacturer and has a strong presence in global markets.
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