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CEAT Q2 Results FY24-25 Highlights: Revenue and Net Profit

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CEAT Limited, part of the RPG Group, has announced its consolidated results for Q2 FY24-25, reflecting a robust performance despite challenging market conditions. CEAT's consolidated revenue for the quarter closed at ₹3,304.5 crore, marking a 3.5% QoQ and 8.2% YoY growth. The company also posted a consolidated net profit of ₹121.5 crore for the quarter. This strong performance was driven by growth in the replacement and international sectors, although margins were impacted by rising commodity prices.

Key Highlights

  • Consolidated revenue: ₹3,304.5 crore (3.5% QoQ growth, 8.2% YoY growth)
  • Consolidated EBITDA: ₹367.9 crore, with an EBITDA margin of 11.1%
  • Net profit: ₹121.5 crore, impacted by higher raw material costs
  • Debt: Increased by ₹280 crore due to higher inventory and dividend distribution

CEAT LIMITED

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3185.836.80 (1.16 %)

Updated - 12 December 2024
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Quarterly CEAT Q2 Results FY24-25

Financial Metric

Q2 FY25 (₹ Cr)

Q1 FY25 (₹ Cr)

Q2 FY24 (₹ Cr)

% Change (QoQ)

% Change (YoY)

Revenue from Operations (Consolidated)

3,304.5

3,192.8

3,053.3

3.5%

8.2%

Cost of Goods Sold

2,068.3

1,940.1

1,729.8

6.6%

19.6%

Gross Margin

1,236.3

1,252.7

1,323.6

-1.3%

-6.6%

EBITDA

367.9

388.2

461.8

-5.2%

-20.3%

EBITDA Margin (%)

11.1%

12.2%

15.1%

-102 bps

-399 bps

Net Profit

121.5

154.2

207.7

-21.2%

-41.5%

Segment Highlights

  • Replacement Segment: Continued double-digit growth across the replacement segment, particularly in commercial vehicles and two/three-wheelers.
  • International Business: Strong recovery in international business helped drive overall performance, though slight QoQ declines were noted.
  • OEM Segment: Increased demand in the OEM segment due to festive inventory buildup.

Sector Expectations for CEAT 2Q Results FY24-25

CEAT's performance this quarter surpassed industry expectations, with solid growth in revenue despite challenges from rising input costs. Compared to sector norms, CEAT has demonstrated resilience, especially in its replacement and export segments, where demand remained robust.

Management Commentary

Arnab Banerjee, MD & CEO of CEAT Limited, stated:

“We are pleased to see that we have successfully carried the momentum from Q1 through Q2. This quarter marks our highest revenue ever, driven largely by robust performances in our Replacement and International sectors. While there’s a significant increase in the commodity prices, our margins got impacted during the quarter. We took selective price increases during the quarter that offset part of the cost impact. The revenue outlook remains positive as we enter Q3.”

CFO Kumar Subbiah also highlighted the rise in debt due to increased raw material inventory and dividend distribution. He assured that CEAT continues to focus on efficiency and growth across key segments.

Check out Ceat's past performances in previous quarters and financial years.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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