Introduction:
RPG Group stock saw a 6% drop amid a 46.5% decline in Q3 net profit despite revenue growth. The firm also faces shrinking margins and tough conditions. A major plant expansion is planned to meet rising tyre demand.
Share Price movement of CEAT:
As of today, January 16, 2025, CEAT Ltd’s shares opened at ₹2949.95, peaked at the same, and touched a low of ₹2840.00. The current price stands at ₹2896.70. This marks a 6% increase from the previous close of ₹3057.50, with a market cap of ₹11,728.30 Cr.
CEAT Q3 Results:
Shares of CEAT dropped 6% in early trading on January 16 as the company reported a 46.5% year-on-year decline in Q3 net profit, falling to Rs 97.1 crore from Rs 181.5 crore. This drop comes despite an 11.4% increase in revenue from operations to Rs 3,299.9 crore.
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The company’s operating performance was impacted, with EBITDA decreasing by 18.3% year-on-year to Rs 340.9 crore. The EBITDA margin also narrowed significantly, from 14.1% in the previous year to 10.3% in the current quarter, reflecting tougher operational conditions.
CEAT also announced a strategic investment of Rs 400 crore to expand the capacity of its Butibori plant in Nagpur by 30%. The expansion, set to be completed by FY2027-28, will be financed through a mix of debt and internal accruals to meet the increasing demand for two- and three-wheeler tyres.
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Recent news About CEAT :
On September 19, 2024, the Bombay High Court granted CEAT Ltd. interim relief in its lawsuit against Apollo Tyres, asserting Apollo’s APTERRA AT2 and unfairly disparaged CEAT’s CROSSDRIVE, potentially causing irreparable harm.
Ace investor holding of CEAT:
Mukul Mahavir Agrawal
An ace investor Mukul Mahavir Agrawal currently holds 450,000 shares of CEAT Ltd, valued at ₹130.1 Crore, reflecting a holding of 1.11% as of September 2024. The current price of CEAT Ltd. shares stands at ₹2892.05.
Stock performance of CEAT for Period of 1 week, 6 months and 1 year:
CEAT’s stock has experienced mixed performance over different periods. Over the past week, it saw a decrease of 1.88%. In contrast, over the last six months, the stock increased by 14.2%. Over the past year, CEAT has gained 26.1%, indicating strong long-term growth.
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Shareholding pattern of CEAT:
| All values in % | Sep-24 | Jun-24 | Mar-24 |
| Promoters | 47.21 | 47.21 | 47.21 |
| FII | 16.65 | 18.76 | 20.16 |
| DII | 19.75 | 17.09 | 15.91 |
| Retail & others | 16.39 | 16.92 | 16.73 |
About CEAT:
CEAT Ltd is a leading Indian tire manufacturer, part of the RPG Group, known for its wide range of tires for various vehicle types including cars, bikes, trucks, and buses. The company focuses on innovation, safety, and performance in tire technology.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
