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Zensar Technologies has acquired US based company, Cynosure for USD 33 million. Prashant Nair caught up with Harshvardhan Goenka, Chairman of Zensar Technologies and asked him about the newly acquired company and the market opportunity.
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Tyre maker Ceat posted weak set of numbers in the third quarter with single digit margins for the first time in at least eight quarters. Company‘s Chief, Anant Goenka said higher commodity prices and demonetisation impacted the margins.
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Saw 13 percent volume growth in this quarter, says Manoj Jaiswal, CFO of Ceat.
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Raw material prices have not had much impact on the company, says Arnab Banerjee of Ceat. Rubber prices were flat across Q1, which are expected to move at same level in the third quarter as well.
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The company has passed on price cut of 8-9 percent to its consumers, and has increased ad expenditure 70 -80 percent year-on-year. This is what has impacted CEAT's margins, says Anant Goenka, MD, CEAT.
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The company is well stocked up on raw materials for the next couple of months and it would not take a hit on raw material prices assuming they move up, says Manoj Jaiswal, CFO of Ceat.
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Export market is seeing a clear slowdown due to currency depreciation, said Anant Goenka, MD of Ceat, in an interview to CNBC-TV18.
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The company is planning a two-wheeler expansion in Nagpur, adding almost 10 lakh tyres per month.
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Speaking to CNBC-TV18 post Q3 earnings, CFO A Subba Rao said the company is not seeing any unusual inventory build-up. The midcap company reported flat domestic volume in Q3.
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The company has ambitious plans for doubling their two-wheeler tyre capacity in Nagpur from 10 lakhs to 23 lakh tyres in two years, said Anant Goenka, MD, Ceat.
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Exports saw some tough competition from China and as a percentage of revenue it stood at 20 percent, Ceat managing director Anant Goenka says.
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Subba Rao Amarthaluru, CFO, CEAT anticipates a 10 percent growth in second half of FY15 as plummeting crude prices will reflect in prices of its derivatives such as synthetic rubber, carbon black and nylon tyre chord.
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Huge imports are keeping domestic rubber prices soft and lower cost of raw materials is helping boost the company‘s operating profit margins, Subba Rao says
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Ceat is looking at expansion in the two-wheeler market. It plans to expand the capacity in Bangladesh plant to 65 tonnes per day and the Halol plant capacity to 100 tonnes per day.
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Dispelling any worries about the recent fire in its Bhandup factory, A Subba Rao, chief financial officer, CEAT, says that there has been no loss of sales, though there were some losses on the production side for abour 48 hours.
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The Tyre major Ceat posted nearly three-fold rise in consolidated net profit at Rs 66.95 crore for the third quarter ended December 31, 2013. The company had posted a net profit of Rs 22.43 crore for the same period of previous fiscal.
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A Subba Rao, CFO, CEAT, spoke with CNBC-TV18 to discuss the rubber import customs duty. He also commented on the company‘s current business operations and expected earnings.
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A Subba Rao, CFO, says Ceat continuously monitors both international and domestic markets and takes appropriate decision at that point of time whether domestic rubber purchase is better or international rubber purchase is better.
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Ceat is anticipating better performances on the back of improved demand. The company's management told CNBC-TV18 that it is investing heavily in branding and changing product mixes to high margin ones.
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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.
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In an interview to CNBC-TV18, Arnab Banerjee, ED – Operations at Ceat presents his outlook on the company's business going forward.
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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.
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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€
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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.
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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.
