Ceat foresees 25% growth this year

Mumbai, July 9

Notwithstanding the skyrocketing rubber price, tyre maker Ceat foresees 25 per cent growth in the current financial year as the demand in replacement market grows.

“Our revenue last year was Rs 2,600 crore. This year we expect it to be around Rs 3,300 crore. The increase in price and expansion of volume will lead to growth in revenue,” Mr Paras K. Chowdhary, Managing Director, Ceat, told Business Line.

Ceat hopes that the contribution of replacement market in its total revenue will substantially grow in the current year. “Our revenue model is 60:20:20. About 60 per cent of the revenue comes from replacement market, 20 per cent each from OE market and exports. This year we hope the contribution from the replacement market will be more than 60 per cent,” said Mr Chowdhary.

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