Shares of this small-cap tyre company jumped as the company reports a 5-fold jump in Q4 net profit
The company's main lines of business are the production and sale of automotive tyres, tubes, and flaps.
About the Q4 Result
In the most recent quarter, CEAT's net profit, on a standalone basis, increased by about ten times, to Rs 132.00 crore, compared to Rs 13.29 crore in the same quarter last year. In Q4FY23, the company's total revenue increased by 11% to Rs 2,864.97 crore from Rs 2,581 crore in the corresponding quarter the year prior.
On a consolidated basis, the company reported a more than 5-fold increase in net profit for the fourth quarter ended March 31, 2023, from Rs 25.43 crore for the same quarter the previous year to Rs 132.42 crore. In Q4FY23, the company's total revenue increased by 10.86% to Rs 2,877.21 crore from Rs 2,595.28 crore in the same quarter the previous year.
Share Price Movement of CEAT Ltd
The scrip opened today at Rs 1,698.90 and touched a high and low of Rs 1,747.90 and Rs 1,693.70, respectively. Its 52-week high stood at Rs 1,981.45, whereas its 52-week low was Rs 890.00. The current market cap of the company is Rs 6,938.20 crore. Promoters hold 47.21%, whereas the Institutional and non-institutional holdings is 36.90% and 15.90%, respectively.
One of the top tyre brands in India is CEAT, which serves as the RPG GROUP's flagship business. CEAT offers top-notch goods and services in numerous nations, all to assist in the safe and intelligent movement of people and goods. The company has grown to be one of the largest Indian producers of high-performance tyres for all vehicle segments as a result of its creative and flexible business practices and desire to experiment. It aims to maintain growth while delivering products and solutions that are better, safer, and more advanced in every way.
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