Ceat Q4 Review - Upbeat Revenue Performance, Margin Disappoints: Dolat Capital
Stacks of new tyres on a black background in Kentucky, U.S. (Photographer Luke Sharrett/Bloomberg)

Ceat Q4 Review - Upbeat Revenue Performance, Margin Disappoints: Dolat Capital

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Dolat Capital Report

Ceat Ltd. reported stellar topline in Q4 FY21 while Ebitda margin was suppressed on account of high raw material cost (gross margin contracted by 355 basis points QoQ) and adverse mix.

Overall raw material cost increased by about 12% sequentially on a per kilogram basis.

Consolidated revenue grew 3% QoQ to Rs 22.9 billion (versus estimate Rs 22 billion) in Q4 led by:

  1. revival in original equipment manufactures demand and capacity addition,

  2. continued strong replacement demand and

  3. market share gain in provision coverage ratio and truck-bus radial segments.

Click on the attachment to read the full report:

Dolat Capital Ceat Q4FY21 Result Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

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