New Delhi: CEAT Limited (CIN No: L25100MH1958PLC011041), an RPG Group company, announced its audited results for the fourth quarter and full-year ending on 31st March 2022.
On a consolidated basis, the Company’s revenue for the full year FY21-22 closed at Rs. 9,363 crore, EBITDA stood at Rs. 739 crore, and PAT stood at Rs. 71 crore. The revenue for the quarter closed at Rs. 2,592 crore and EBITDA margin stood at 7.5%, an expansion of 160 bps vs Q3 FY21-22. Net profit stood at Rs. 25 crore.
Commenting on the results as well as the outlook of the business, Mr. Anant Goenka, Managing Director, CEAT Limited said, “We are witnessing a recovery in the market, particularly in the replacement and commercial tyre categories. Our international business continues to outperform and we expect it to drive growth in the coming year as well. Margins, however, continue to be under pressure due to rising commodity prices, and other inflationary costs. I am hopeful with Covid restrictions easing in the country, an uptick in GST collections and an improved business sentiment, we can expect a better FY23 for the business.”
On standalone basis, the Company’s revenue for the full year FY21-22 closed at Rs. 9,313 crore, EBITDA stood at Rs. 701 crore, and PAT stood at Rs. 54 crore. The revenue for the quarter stood at Rs. 2,576 crore and EBITDA margin stood at 7.2%, an expansion of 170 bps vs Q3 FY21-22. Net profit stood at Rs. 13 crore.
Mr. Kumar Subbiah, CFO of CEAT Limited, said, “Our strong focus on cashflows and tight working capital management during the year has helped us to bring down our gross debt by Rs. 146 crore leading to improvement in our leverage ratios and stronger balance sheet.”
The Board of Directors at its meeting held today has approved a dividend payment of 30%.