CEAT shares hit record high on strong Q2 earnings, more details

Shares of tyremaker CEAT rose 14% on Monday after the firm reported its Q2 earnings. 

Net profit rose 52.4% to Rs 186 crore in the last quarter against Rs 122 crore in the year ago period. On a consolidated basis, the revenue came at Rs 3,772.7 crore, an increase of 14.3% Y-o-Y from Rs 3304.5 crore in the September 2024 quarter. 

EBITDA rose 39% to Rs 503 crore in the last quarter against Rs 362.2 crore in the September 2024 quarter. 

CEAT stock rose 13.89% to a record high of Rs 4251.70 in the current session. Market cap of CEAT rose to Rs 16,995 crore. CEAT shares have a one-year beta of 1, indicating average volatility during the period. Total 2.87 lakh shares changed hands amounting to a turnover of Rs 118 crore 

Commenting on the results and the outlook of the business, Arnab Banerjee, MD & CEO, CEAT said, "We have maintained strong double-digit growth this quarter, with revenue rising by approximately 12%. One of the key developments in this quarter has been reduction in GST rates on tyres and vehicles, which we hope will have positive impact on demand across domestic categories. We have also been excited with Camso fully integrating into the CEAT family effective Sept, marking a significant milestone in our global premiumisation strategy. Looking ahead, with a positive growth momentum, we look forward to double-digit growth in the second half of the year." 

CEAT's  principal business is manufacturing of automotive tyres, tubes and flaps.