Tuesday, 7 February 2017


CEAT Limited plunged to Rs 1136 per share, down by Rs 40.65 per share or 3.45% after the announcement of its Q3 results. Raw materials required for tyres, rubber and crude derivatives prices have gone up in recent times causing the tyre prices to surge, which has in turn affected the performance.

The company announced its standalone and consolidated financial results for the third quarter ended on December 31, 2016.

Following are the excerpts from the consolidated Q3 results:

Total income is up by 4.9% at Rs 1,557 cr vs Rs 1,484 cr (YoY).
Net profit is down by 25% at Rs 84 cr vs Rs 112 cr (YoY).
EBITDA margins stand at 9.8% vs 12.7% (YoY).
EBITDA is down by 18.3% at Rs 153.5 cr vs Rs 188 cr (YoY).

CEAT Ltd is currently trading at Rs 1151, down by Rs 25.65 or 2.18% from its previous closing of Rs 1176.65 on the BSE. The scrip opened at Rs 1185 and has touched a high and low of Rs 1196.9 and Rs 1136 respectively. So far 2769867(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 4759.56 crore.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 1422 on 06-Oct-2016 and a 52 week low of Rs 731.2 on 24-Jun-2016. Last one week high and low of the scrip stood at Rs 1215.1 and Rs 1152.45 respectively. The promoters holding in the company stood at 50.76 % while Institutions and Non-Institutions held 32.95 % and 16.29 % respectively. The stock is currently trading below its 100 DMA.

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