CEAT

Ceat posted a very good set of numbers for Q4FY15. The company recorded a 50% (YoY) rise in consolidated net profit at Rs.94 crore on a 1.5% jump in net sales at Rs.1466 crore. EBITDA for the quarter rose 17% at Rs.187 crore and margins improved from 11% to 12.6%.

It ended FY15 with a 17% rise in consolidated net profit at Rs.317 crore on a 4.5% increase in net sales of Rs.5755 crore. Growth was driven mainly by steady growth in replacement as well as passenger tyres category during FY15. The company has approved issue of NCDs to the tune of Rs.500 crore in one or more tranches. Last fiscal, the company had raised Rs.400 crore and that is being used to expand its passenger car and two-wheeler tyre capacities. Both these expanded capacities are expected to go on stream in current fiscal.