Ceat - Market Share Ambitions Remain Strong: ICICI Securities
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ICICI Securities Report
Ceat Ltd. hosted its annual investor conference virtually to elucidate its long term growth plans, and strategies to achieve them.
Key takeaways from the event:
Demand was impacted in Q1 FY22 from Covid-19 second wave and subsequent plant shutdowns across original equipment manufacturers.
Replacement segment witnessed ~20-40% decline QoQ in April 2021/May 2021. Truck segment were least impacted.
June-21 has seen revival of replacement demand while OEM production continues to ramp modestly.
The company has a leadership market share in two-wheeler with aspiration to further raise the same to 30-35% market share vis-a-vis current 28-30%.
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