For the quarter ended June 30, 2013, the India operations of CEAT Ltd., on a standalone basis, grew to Rs. 1,269 crores driven by strong volume growth of 11 per cent. On a consolidated basis, the company’s net sales rose to Rs. 1,317 crores during the quarter. Overall, the tyre major reported a revenue growth of eight per cent YoY.
PBT rose 125 per cent YoY to Rs. 98 crores for the quarter. The EBITDA margin stood at 12.3 per cent, with an absolute EBITDA of Rs. 163 crores, perhaps the highest quarterly EBITDA in the recent past.
Mr. Anant Goenka, Managing Director, CEAT Ltd., said: “Q1 has been positive for CEAT with strong volume growth both in India and Sri Lanka. We have continued to grow in both the two-wheeler and UV segments. Our recent ‘Monsoon Smart’ campaign too has been very well received. In the past one year, our net debt is down by approximately Rs. 400 crores, taking our debt-equity ratio to 1.2 times from 2 times in the same quarter last year. Going forward, we will continue our focus on the passenger segment and exports which will drive volume growth in this enigmatic macro environment.”