CEAT Ltd Up By 8% After Strong Management Commentary | Latest Business News

Tyre major CEAT Ltd is trading higher by over 8% after strong management commentary on demand, margin and capex front. The managements say that currently demand remains stable with demand from OEM growing, replacement demand being stable, while exports are weak currently. RM cost benefit to reflect from 3QFY23 with cost savings to come from 3QFY23. The company expects EBITDA margin recovery to at least 10-12% v/s 6% in 1QFY23 and 7.6% in FY22. On Capacity teh management says the Capex is under control, there is headroom to debottleneck capacity. The expect to earn a revenue of ~INR130b post expansion v/s run-rate of ~INR113b in Q1. Catch More details in this video.