Healthy volume-led growth in Q4 FY25, though margins remained under pressure due to high raw material prices.
CEAT board has recommended a final dividend of Rs 30 for FY24, subject to the approval of the members at the upcoming AGM.
Anant Goenka has been elevated to the rank of Vice Chairman of CEAT Ltd.
The Mumbai-headquartered company had posted a net profit of Rs 23 crore in the corresponding period of last year.
The company had reported a net loss of Rs 35 crore for the year-ago period amid massive COVID-led disruptions in the market.
The new range of tyres offers numerous benefits like precise steering control and cornering stability, Ceat Tyres said. The tyres offer superior braking, low in-cabin noise and a comfortable drive, it added.
Under the initiative, Ceat will introduce performance indicator ratings for its premium offerings --Fuelsmarrt and SecuraDrive range of tyres. The ratings are based on important tyre performance indicators like rolling resistance, wet grip and tyre noise level, the company said in a statement.
The company had posted a consolidated net profit of Rs 52.5 crore in the year-ago period, Ceat Ltd said in a regulatory filing.
Here is a complete look at what made headlines in the automotive space this week
The six-layered washable and reusable mask, priced at Rs 249 per unit, are available across its exclusive branded stores 'CEAT Shoppe' and also on various e-commerce websites, the company said in a release.
"Tamil Nadu continues to be a favourite destination for investors and committed investments are taking roots within the investment period as per the MoUs," an official release said in response to media reports on investments by auto-majors KIA Motor and Ford outside the state.
This week on Storyboard, Oglivy creates a new campaign for Rajasthan Tourism. Storyboard speaks to Chief Minister Vasundhara Raje on the state's tourism potential.
The plant was temporarily shut down for some time after a fire broke out in its raw material store on the evening of February 23, 2014.
Ceat is looking good in the midcap space. Chart structure of the stock suggest that it has potential to move to around Rs 125-128 levels in the near future.
SP Tulsian of sptulsian.com feels that Hindalco Industries has limited downside from hereon and the stock should bottom out.
Tyre companies have been smarting under the impact of rising tyre prices over the last many months.