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Tyre maker CEAT Ltd expects strong double-digit growth in FY27, riding on bullish domestic demand post GST cut and robust international business despite disruptions from the war in West Asia, according to its MD & CEO Arnab Banerjee. The company, which has announced a Rs 1,205 crore investment towards capacity expansion, also expects the availability of more capacity to help drive growth, Banerjee told PTI. "We expect a strong double-digit growth, overall in FY27," he said when asked about the outlook for FY27. On a consolidated basis, CEAT Ltd had posted a 22 per cent year-on-year revenue growth of Rs 4,318 crore in the first quarter of the ongoing fiscal. Banerjee further said, "We are very bullish on overall market expansion post GST cut. Rural markets are doing very well. Our Q1 top line growth was good." Stating that some more capacities are coming on stream, Banerjee said, "We expect robust growth to continue." CEAT had announced a capex of Rs 1,205 crore, primarily to ...
Tyre maker Ceat is developing tyres for various global markets as it aims to expand its exports to regions like Europe and US with plans to establish itself as a global brand, according to RPG Group Vice Chairman Anant Goenka. The RPG Group firm garners around 20 per cent of its revenues from exports and expects the contribution to grow over the next few years. "We are focusing a lot on international growth -- in the US, growth in the EU. Our goal is to become a global brand. We often say that industry in India can do more to develop and invest more in brands, invest in global growth and so on. So that's one area of focus for us," Goenka told PTI during an interaction. He noted that the company is focussing on developing tyres on specific requirements of a region. "What is the customer need in Italy, what is the customer need in Spain, we are developing an entire range of tyres for that specific market. It could be for the wine growing region, it could be for certain weather ...
Tyre maker CEAT Ltd expects GST rate reduction to have structural positive impact in the coming quarters by aiding demand for two-wheelers, small cars and tractors, particularly in rural markets, according to its MD & CEO Arnab Banerjee. After posting a strong second quarter, in the third quarter, which is usually a subdued season for the tyre industry, topline may be equal to or slightly lower, Banerjee told PTI. "GST 2.0 came in at the fag end of the (second) quarter, so that will play out in subsequent quarters. We are positive on that development, that should aid demand for two-wheeler farms and small cars and their types primarily in smaller towns and rural, and in urban to a lesser extent," Banerjee said. He was responding to a query on how GST 2.0 impacted demand and overall growth in tyre offtake. Being "a structural change", GST rate reduction "will structurally impact demand as we go (along)" and there won't be a sudden spurt in demand. When asked about the third ...