CEAT Ltd Q4FY22 and Year Ended result : Income up by 13% but PAT surges down 83% to ₹25 Cr YoY

Net Profit of ₹25.25 crore in the quarter ended on March 31, 2022 as against ₹152.80 crore in the corresponding quarter ended in last year on Mar 31, 2021. The PAT surges down by 83.47%

logo credit- ceat/iconape.com
article continues after this advertisement

CEAT Ltd the flagship company of RPG Group was established in 1958 as Ceat Tyres of India Ltd in collaboration with Tata Group. CEAT produces best-in-class high performance tyres for a wide range of vehicles including tyres for 2/3 Wheelers Passenger Vehicles and Utility Vehicles Commercial Vehicles and Off-Highway Vehicles and produces over 37 Million tyres in a year.

CEAT also manufactures and markets superior quality tubes and aps. The Replacement Original Equipment Manufacturing (OEM) and International Business segments accounted for 61% 26% and 13% of CEAT’s revenue respectively in FY20. The company’s network currently extends to more than 4000 dealers & channel partners and over 35000 sub-dealers. The company has 4 manufacturing facilities at Bhandup Nashik Nagpur and Halol and is setting up a green field project. The company has posted its Q4FY22 and year ended financial results on May 5, 2022, the details are as below :

(I) Audited Consolidated Financial Results for Quarter Ended (YoY comparison):

The company has reported, a consolidated Total Income of ₹2,595.28 crore in the quarter ended on March 31, 2022 as against ₹2,292.89 crore in the corresponding quarter ended last year on Mar 31, 2021, increased by 13.18%.

The company has posted a consolidated Net Profit of ₹25.25 crore in the quarter ended on March 31, 2022 as against ₹152.80 crore in the corresponding quarter ended in last year on Mar 31, 2021. The PAT surges down by 83.47%.

The status of the EPS of the company stood at ₹6.24 as on March 31, 2022 compared to the previous quarter ended on Mar 31, 2021 which was ₹37.77, down by 83.48%.

₹*Mar 31, 2022 (Q4FY22)Dec 31, 21 (Q3FY22)Mar 31, 21 (Q4FY21)
Total Income2,595.282,416.442,292.89
Total Expenses2570.662442..482158.65
PBT /(Loss)26.41(23.67)142.06
Total Tax /(credit)0.98(3.49)(10.96)
PAT /(Loss) [to the owners]25.25(20.01)152.80
*figures are in Crores

(II) Audited Consolidated Financial Result details for the Year Ended :

The company has reported, a consolidated Total Income of ₹9,374.81 crore in the financial year ended on March 31, 2022 as against ₹7,623.41 crore for the financial year ended on Mar 31, 2021, increased by 22.97%.

The company has posted a consolidated Net Profit of ₹71.20 crore in the financial year ended on March 31, 2022 as against ₹432.04 crore for the financial year ended on March 31, 2021. The PAT surges down by 83.52%.

The status of the EPS of the company stood at ₹17.60 as on March 31, 2022 compared to the previous year ended on March 31, 2021 which was ₹106.81, down by %.

₹*Mar 31, 2022 (FY22)Mar 31, 2021 (FY21)
Total Income9,374.817,623.41
Total Expenses9295.777141.77
PBT /(Loss)94.88483.89
Total Tax /(credit)24.3051.59
PAT /(Loss)71.20432.04
*figures are in Crores
Market Times

(III) Key Highlights about the Performance :

  • EBITDA stood at ₹195 crore, operating margin of 7.5% QOQ, records an expansion of 160 bps
  • Gross margin at 33.5%, contracted by 46 bps QOQ
  • Debt to equity at 0.6x in Q4FY22, compared to 0.7x in Q3FY22
  • EBITDA stood at ₹739 crore, operating margin of 7.5% YoY, records a contraction of 420 bps
  • Gross margin at 33.5%, contracted by 847 bps YoY
  • Debt to equity at 0.6x in Q4FY22, compared to 0.4x in Q4FY21

Shares of CEAT Ltd was last traded in BSE at ₹1090.25 as compared to the previous close of ₹1083.55. The total number of shares traded during the day was 5463 in over 718 trades.

The stock last hit in BSE,

  • Intraday High of ₹ 1111.50
  • Intraday low of ₹ 1083.95