
Shares of CEAT Ltd are in news today after the tyre maker reported a 46.5% year-on-year (YoY) fall in net profit for the December 2024 quarter. CEAT stock closed 0.51% higher at Rs 3057.50 on BSE in the previous session. Market cap of CEAT stood at Rs 12,367 crore on BSE. CEAT shares have a one-year beta of 0.9, indicating high volatility during the period. Total 2,975 shares changed hands amounting to a turnover of Rs 90.68 lakh.
The CEAT stock has gained 38.29% from its 52 week low of Rs 2211 on May 13, 2024.
The large cap stock hit a 52-week high of Rs 3581.45 on December 9, 2024.
In terms of technicals, the relative strength index (RSI) of CEAT stands at 45.8, signaling it's trading neither in the overbought nor in the oversold zone. CEAT shares are trading lower than the 5 day, 10 day, 20 day, 30 day but higher than the 50 day, 100 day, 150 day and 200 day moving averages.
Ceat reported a profit of Rs 97.1 crore in Q3 against a net profit of Rs 181.5 crore.
Revenue from operations rose 11.4% to Rs 3,299.9 crore in the last quarter against Rs 2,963.1 crore in the corresponding period of the preceding fiscal.
EBITDA fell 18.3% YoY to Rs 340.9 crore in the third quarter of this fiscal over Rs 417.5 in Q3 FY24.
EBITDA margin in Q3 came at 10.3% in Q3 compared to 14.1% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
The company proposed a capital expenditure of Rs 400 crore to enhance the production capacity at its plant located in Butibori, Nagpur, Maharashtra. Currently, the existing plant manufactures approximately 270 lakh tyres annually, with a capacity utilisation of 90%.
The expansion is aimed to raise capacity by 30%, with an additional capacity likely to come on line by the end of FY2027-28. The investment will be financed through a mix of internal accruals and debt.