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Why CEAT Is Betting Big on Premium and EV Tyres - Forbes India
The Strait of Hormuz has been effectively closed for nearly two months now, tightening supply chains across sectors. Arnab Banerjee, managing director and chief executive officer of CEAT, sees demand softening as the conflict drags on, though that isn’t the company’s most pressing concern.The Mumbai-based tyre maker is offsetting lost demand from the Iran conflict by redirecting shipments to other markets such as Europe, the US and Latin America. “Our number one priority is that there should be no disruption to production,” Banerjee tells Forbes India. CEAT’s factories are currently running at a 90 percent capacity utilisation.The RPG Group company, which expects a 10 percent increase in raw material prices through April and May, has secured raw material supply till May. Beyond that, it is watching and waiting. If the West Asia war ends and supply chains normalise, the company does not want to be in a position where it’s holding expensive inventory. Decisions on covering June inventory will be made closer to the date. “The situation is very dynamic,” says Banerjee.To offset the shock, the company has announced a 2-3 percent price increase, effective March. Whether the remainder can be passed through also depends, in part, on what competitors do. “We will need to hike prices by about 5-6 percent more to cover that 10 percent hike in raw material. We will take that call soon,” he adds. These hikes are in the tyres sold in the aftermarket. CEAT earns 51 percent of its revenue from aftermarket sales, and 30 percent from sales to carmakers; 19 percent comes from exports.On the company’s sales to carmakers, Banerjee says: “Since original equipment tyre prices are indexed, certain quantum increase has happened on April 1. Further increases are expected through the quarter and into the second quarter.With the price increases and ongoing war uncertainty, Banerjee expects demand to shrink. “Before the war we were in a good place, expecting to enter Q1 on a very positive note. But now with price increases, it’s a wait-and-wait because trade would not like to stock up. We expect some moderation in Q1, keeping seasonality in the mind,” he says. CEAT reported revenue of over Rs15,000 crore in FY26, an increase of over 18 percent year-on-year (y-o-y). Net profit rose over 47 percent to Rs 697 crore.Tyres are a discretionary replacement purchase for most passenger vehicle owners and prone to be affected in times of uncertainty. The good thing, according to Banerjee, is th...
Ceat | Bonus > Tyres > Bonus declared by Ceat - BSE ... - Moneycontrol
NSEBSEAdd to FollowersDay Range0.000.00LH52 Week Range3,000.504,438.00LHVolume* iBid / Ask548.003,573.00 / 10.00Ceat BonusAnnouncementsBoard MeetingsBonusDividendsSplitsAGM/EGMRightsAnnouncement DateEx-Bonus DateBonus RatioRemarks04 Jan, 1987-1:2For every 2 share held; Holder will receive 1 bonus shares.07 Oct, 1986-1:2For every 2 share held; Holder will receive 1 bonus shares.04 Jan, 1980-1:1For every 1 share held; Holder will receive 1 bonus shares.04 Jan, 1976-1:7For every 7 share held; Holder will receive 1 bonus shares.04 Jan, 1973-1:6For every 6 share held; Holder will receive 1 bonus shares.04 Jan, 1969-1:10For every 10 share held; Holder will receive 1 bonus shares.Corporate Action NewsNo news availableShow More
Grocery Outlet Opens in King City After Legal Battle | News ...
Grocery Outlet finally opens in King City after a years-long legal battle, bringing affordable food and new jobs to the local community.
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