Ceat down 7%

Ceat is among the top three losers on the BSE since the opening bell today as the market was not too enthused with its Q3FY25 performance.

The company posted a 11% (YoY) jump in revenue from operations at Rs.3300 crore. EBITDA came in at Rs.346 crore, down 19% while margins fell from 14.4% to 10.5%. PAT was at Rs.97 crore, down 46%.

Topline was driven mainly by replacement segment while rising raw material costs impacted margins though the company did pass on part of the increase through price increase in select categories during the quarter.

The company said that looking ahead, demand continues to remain stable  and its order book pipeline is robust across all segments. It said that raw material prices look flattish in Q4 and it expects growth momentum to continue

Its capex during the quarter was Rs 283 crore, which were fully funded through internal controls and hence, its debt was stable at Rs.1835 crore v/s Rs.1729 crore (YoY) though QoQ, reduction in Working capital led to debt reduction of Rs. 50 crore.

The did not pay much heed to all this and merely reacted on the numbers; the stock opened 3.5% lower at Rs.2949.95 and then slipped down further to Rs.2840, decline of 7%.