Ceat was up 1.84% to Rs 1,140.50 at 10:44 IST on BSE after consolidated net profit rose 11.5% to Rs 104.69 crore on 0.5% decline in net sales to Rs 1450.66 crore in Q4 March 2016 over Q4 March 2015.
The result was announced after market hours yesterday, 27 April 2016.Meanwhile, the S&P BSE Sensex was down 39.98 points or 0.15% at 26,024.14.
On BSE, so far 45,000 shares were traded in the counter as against average daily volume of 41,166 shares in the past one quarter. The stock hit a high of Rs 1,149.95 and a low of Rs 1,104.60 so far during the day. The stock had hit a record high of Rs 1,318.30 on 7 October 2015. The stock had hit a 52-week low of Rs 596.70 on 9 June 2015. The stock had outperformed the market over the past one month till 27 April 2016, gaining 4.13% compared with Sensex's 2.87% rise. The scrip had also outperformed the market in past one quarter, advancing 21.94% as against Sensex's 6.42% rise.
The mid-cap company has equity capital of Rs 40.45 crore. Face value per share is Rs 10.
Ceat's earnings before interest, taxation, depreciation and amortization (EBITDA) rose 5% to Rs 195 crore in Q4 March 2016 over Q4 March 2015.
Ceat's Managing Director Anant Goenka said that Q4 March 2016 saw the commissioning of the company's green-field facility in Nagpur that will help it meet growing demand in the two-wheeler and three-wheeler segments. While volumes across segments have grown during the quarter, Chinese dumping continues to impact the industry and the company's business to some extent, Goenka said.
Ceat's Chief Financial Officer Manoj Jaiswal said that the company has been able to strengthen its balance sheet significantly on the back of improved business and cash flows.
Ceat is one of India's leading tyre manufacturers with strong presence in global markets.
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