Page 3 - Ceat Tyres

Expect double-digit growth in int'l tyre biz despite price hike: CEAT

Tyre maker CEAT Ltd expects double-digit growth in replacement and international business this fiscal despite a high natural rubber price forcing it to hike product rates, according to its MD and CEO Arnab Banerjee. The company, which has taken price hikes of 2-2.5 per cent in the replacement segment since May, expects another round of increase towards the end of July but is betting on robust demand across categories and turnaround of the rural market to drive growth. "We would like to think that unless there are some unforeseen headwinds, the growth will be steady and positive. We would like to maintain double-digit growth in the replacement segment and international business," Banerjee told PTI. As for the company's sales to OEM, he said, "We see growth potential much ahead of 3 per cent in the passenger segment for CEAT on the basis of the model pipeline". In the first quarter of the ongoing fiscal, the company had posted good topline growth as rural demand has come back while .

CEAT Tyres announces two-year partnership with Bayer 04 Leverkusen

The Indian tyre maker becomes official tyre partner of the football club for next 2 years

Amid price hike reports, shares of tyre companies rally for second day

According to media reports, domestic tyre companies have undertaken a price hike in response to a rise in key raw material prices (primarily natural rubber).

Tyre manufacturers Ceat and Apollo to hike prices as input costs soar

Crude prices, which hovered around $88 to 90 over the past three months, represent a 6 to 8 per cent increase from the previous quarter, adding further strain on manufacturers' margins

Ceat plans to revamp brand strategy to target SUV owners, adventure bikers

Ceat plans to reach its target audience through various touchpoints

Tyre sale volumes expected to see moderate growth of 4-6% in FY25: ICRA

Domestic tyre sale volumes are expected to see a moderate growth of 4-6 per cent this fiscal after witnessing an estimated pace of 6-8 per cent in the previous financial year, ratings agency Icra said on Thursday. This growth in the last fiscal was driven by factors such as elevated base and subdued growth in the commercial vehicle (CV) segment, it said. However, Icra anticipates domestic demand from original equipment manufacturers (OEMs) in certain consumer segments like PV (passenger vehicle) and two-wheeler as well as for replacement to remain healthy, supporting overall tyre volume expansion in FY25. While revenues are likely to expand by 5-7 per cent this fiscal, high natural rubber prices and increasing crude prices are likely to moderate the tyre industry's margins by 200-300 basis points (bps) in FY25, Icra said. The rating agency also said it expects the replacement market, which contributes to over two-thirds of the industry volumes, to remain stable, aided by healthy ..

CEAT stock plunges 9% as Q4 net misses Street expectations

CEAT stock reacts to Q4 earnings; CEAT March quarter net dipped 23 per cent YoY to Rs 102 crore as against the Bloomberg analyst expectations of Rs 169 crore.

Ceat MD Arnab Banerjee takes over ATMA chairmanship from JK Tyre MD

Automotive Tyre Manufacturers' Association on Friday said Arnab Banerjee, Managing Director (MD) & CEO of CEAT Ltd has been elected as its new Chairman. Banerjee was elected at the Managing Committee Meeting (MCM) of the association held on Thursday evening, Automotive Tyre Manufacturers Association (ATMA) said in a statement. He takes over from Anshuman Singhania, Managing Director of JK Tyre and Industries. Having joined CEAT in 2005 as Vice President-Sales and Marketing, Banerjee held several roles and was the Chief Operating Officer at CEAT since 2018 prior to taking over his current role, the statement said. An alumnus of the Harvard Business School, IIM Kolkata, and IIT Kharagpur, Banerjee also holds an Associate Certified Coach (ACC) Certification. ATMA members include Apollo Tyres, Bridgestone India, CEAT, Continental India, Goodyear India, JK Tyre & Industries, MRF and TVS Tyres.

Declining raw material prices help to boost tyre makers' profitability

Among raw materials used by the tyre industry, Brent crude oil prices saw a 6 per cent drop year-on-year

CEAT eyes opportunity in replacement tyre market growth fuelled by PV sales

Tyre maker CEAT Ltd is looking to cash in on the growth of passenger vehicles sales in India, which will boost demand in the replacement market going forward, according to the company Managing Director & CEO Arnab Banerjee. The company is also gearing up to enter the passenger vehicles (PV) and truck and bus radial (TBR) tyre market in the US in the first quarter of the next fiscal, with an eye on making its international business one of the growth engines. "Four million cars means immediate translation into replacement demand in the next two to three years. So it is a very good trajectory. The Original Equipment Manufacturer (OEM) trajectory is boding very well for the replacement market," Banerjee told PTI. He was responding to a query on the impact of the growth of PV sales in India on tyre makers. In 2023, PV sales in India touched a record high at 41.08 lakh units, growing by 8.3 per cent over the previous year driven by SUVs, which accounted for almost half of the total ...

Ceat Q3 PAT rises 5-fold as margin pressure eases, reaches Rs 181.48 cr

Ceat's share price rose by 4.34 per cent, ending the day's trade at Rs 2,875 apiece on the BSE

Ceat extends rally for third day; surges 14% on healthy outlook

Ceat on Friday launched its new premium range of two-wheeler steel radial tyres, targeting both aftermarket and original equipment manufacturer (OEM) segments.

CEAT shifts gears, forays into steel radial tyres for two-wheelers

The company, which on Friday launched its new premium range of two-wheeler steel radial tyres, is targetting both aftermarket and original equipment manufacturer (OEM) segments

GST dept issues demands, penalties totaling over Rs 19 cr to Ceat Tyres

Tyre maker CEAT Ltd on Wednesday said it has received GST demand and penalties totalling over Rs 19 crore from tax authorities in Maharashtra and Vadodara. The Additional Commissioner, CGST & Central Excise, Vadodara has issued an order for an interest of Rs 3.27 crore along with a penalty of Rs 13.68 crore following a show cause notice (SCN) that was initially issued towards the delay in reflection of input tax credit to the credit ledger, caused due to technical issue of TRAN-1 return, CEAT Ltd said in a regulatory filing. In another case, Deputy Commissioner of State Tax, Maharashtra has issued an order demanding Rs 22 lakh and interest of Rs 26 lakh, together with penalty of Rs 2 lakh on following an SCN initially issued for reversal of input tax credit on non-payment of tax by suppliers. "Interest of Rs 1.59 crore is also levied towards the delay in reflection of Input Tax Credit to the credit ledger, caused due to technical issue of TRAN-1 return," it added. Currently, the ..

Tyre producers get a grip as raw material prices ease, demand recovers

Tread with caution: Any discount/price cut in the replacement market could offset margin gains

Tyre manufacture Ceat gets Rs 1.98 crore GST notice, company to file appeal

Tyre maker CEAT Ltd on Thursday said it has received a demand notice of Rs 1.98 crore for GST, along with a penalty from the Additional Commissioner, CGST, and Central Excise. The demand pertains to the disallowance of transitional credit and Trans2 credit under the applicable provisions of the CGST Act, 2017, the company said in a regulatory filing. The Additional Commissioner, CGST & Central Excise, Vadodara-II, issued the order for a demand of Rs 1.80 crore, along with a penalty of Rs 18 lakh, it added. "The company is in the process of analysing the matter and taking appropriate action for an appeal to be filed with the appellate authority," CEAT Ltd said. On the impact on financial, operation or other activities of the company quantifiable in monetary terms to the extent possible, CEAT said, "(It is) not ascertainable at this stage.

2W replacement tyre demand in rural market yet to see full revival: CEAT MD

Rural demand for two-wheeler tyres in the replacement segment is yet to see a complete revival but there is optimism that the festive season will give it a fillip, according to CEAT Ltd MD & CEO Arnab Banerjee. With crude prices rising again after the recent geopolitical disturbance, there is uncertainty over crude-based raw material costs and if prices increase it could be a dampener to future growth. "The two-wheeler replacement market is growing year-on-year in strong single digits, which is much much different from quarter one. However, we are yet to see a complete revival in rural demand," Banerjee told PTI. On the challenges in the rural market, he said while monsoon has been good in several parts of the country it was patchy and most of East and North East India didn't get good monsoon. Usually in Q2 demand dips in Q2 because of monsoon but it has not happened, he said adding, "So the market is in a similar state. It has not accelerated yet. Banerjee, however, said in the .

CEAT eyes market leadership in EV tyres within the next two years

Banerjee said that Ceat is focusing on specialty tyres, whether for agricultural use or other segments

Tyre stocks in demand on Ceat's strong Q2 results; MRF, JK Tyre at new high

Ceat said the healthy quarter-on-quarter volume growth was driven by strong OEM demand for festive inventory.

Ceat Q2 PAT jumped 32-fold, helped by better product mix, price hikes

The company declared results post market hours. The company's stock was down marginally (1.7 per cent) on the BSE to Rs 2,101 apiece