CEAT Limited Q3 FY24 Financial Results: Key Highlights and Performance Overview
CEAT Limited’s consolidated financial results represent the combined performance of the parent company and its subsidiaries. The unaudited financial results for the quarter and nine months ended December 31, 2024, were approved by the Board of Directors on January 15, 2025.
Key Highlights of the Unaudited Results:
Revenue from Operations:
- ₹ 329,990 lakhs (Q3 FY24)
- ₹ 330,453 lakhs (Q2 FY24)
- ₹ 296,314 lakhs (Q3 FY23)
Profit Before Share of JV/Associates:
- ₹ 9,161 lakhs (Q3 FY24)
- ₹ 11,583 lakhs (Q2 FY24)
- ₹ 17,311 lakhs (Q3 FY23)
Profit After Share of JV/Associates:
- ₹ 9,703 lakhs (Q3 FY24)
- ₹ 12,145 lakhs (Q2 FY24)
- ₹ 18,128 lakhs (Q3 FY23)
Earnings Per Share (EPS) (Not Annualized):
- ₹ 24.01 (Q3 FY24)
- ₹ 30.13 (Q2 FY24)
- ₹ 44.87 (Q3 FY23)
Additional Insights:
The consolidated results include the performance of 9 subsidiaries and 1 joint venture as of December 31, 2024, and are prepared in accordance with Indian Accounting Standards (Ind AS).
These consolidated figures provide a holistic view of CEAT Limited’s financial performance, reflecting contributions from all subsidiaries. This detailed financial snapshot enables investors and stakeholders to evaluate the company’s overall financial health and long-term growth potential.
CEAT Limited Outlines Strategic Growth Plans and Key Updates
CEAT Limited’s board meeting on January 15, 2025, outlined key updates and strategic plans that provide insights into the company’s growth trajectory:
Key Highlights:
Production Capacity Expansion:
CEAT plans a 30% increase in production capacity at its Nagpur plant, targeting completion by FY 2027-28. This expansion underscores the company’s confidence in the growing demand for two and three-wheelers in India.International Presence in Indonesia:
CEAT is entering the Indonesian market by establishing a subsidiary (not wholly owned, due to local regulations). This move highlights the company’s ambition to strengthen its global footprint.Strategic Acquisition in Off-Highway Equipment:
CEAT has entered an agreement with Michelin Group associate companies to acquire the Camso brand’s Off-Highway construction equipment tire and tracks business for $225 million. Pending regulatory approval, this acquisition signals a strategic diversification into new markets and products.