Ceat feels that the company's better performance is on the back of better results in the profitable segments and with support from stable rubber prices and other input costs.
In an interview to CNBC-TV18, Arnab Banerjee, ED – Operations at Ceat presents his outlook on the company's business going forward.
In a times when auto Original Equipment Manufacturers (OEMs) are reeling under pressure due to slowdown in demand, Ceat expects its business from OEMs to grow more than 15 percent in 2013-14.
Government has been considering hiking import duty on rubber and the notification regarding the hike would be issued soon. Reacting to the news Manish Dugar, CFO, Ceat said, “We believe that if the hike is imposed then it will make us uncompetitive in terms manufacturing in the country and hence you will start seeing more of tyre importsâ€
Manish Dugar, CFO, Ceat says that with rubber prices remaining stable over the last 4-to-5 months on a strong demand-supply situation it is difficult to expect any fall in tyre prices. Exports constitute 24 percent of the tyre-manufacturer‘s total revenue and growth in exports continues to improve in markets like Indonesia and Italy.
In an interview to CNBC-TV18, Manish Dugar, chief financial officer, Ceat gives details on the company's performance. He says he is expecting a positive outlook this quarter as well as in the January-February-March.