The shares of the largest tyre manufacturer rose to 2 percent to Rs 2,151.95 per share on Wednesday after the Maharashtra Pollution Control Board (“MPCB”) directed the company to restart its plant.
At 12:11 p.m., Ceat Ltd Limited shares were trading at Rs 2,118.25 per share, up 0.38 percent from the previous close price on the National Stock Exchange. The company has a market capitalization of Rs 8,568 crore.
According to the Ceat exchange filing, On November 13, 2023. The Maharashtra Pollution Control Board (“MPCB”) has issued restart directions for the company’s operations at the Bhandup plant.
Ceat Ltd revenue has increased by 5.5 percent yearly, from Rs 2,894 crore in Q2FY23 to Rs 3,054 crore in Q2FY24. In the same time frame, the company’s net profit climbed by 3940 percent, from Rs 5 crore to Rs 202 crore.
The Company’s return on equity increased from 2.17 percent in FY22 to 5.41 percent in FY23, while the return on capital employed rose from 5.20 percent to 9.50 percent during the same period.
In the recent financial year, the company reported that the Net profit margin has improved to 1.53 percent and its operating margin to 4.60 percent.
The Ceat Ltd shares have delivered a return of 19 percent in the last six months and 21 percent in a year.
According to the latest shareholding pattern, the company promoter holds a percent stake, Foreign institutional investors hold 24.1 percent, and Foreign institutional investors 12.92 percent.
Ceat Ltd is a leading tyre manufacturer for automobiles, utility vehicles, and trucks in India and abroad. The firm also manufactures and markets tubes and flaps.CEAT has a footprint in over 110 countries across the world.
According to the latest shareholding pattern, the company promoter holds a 47.21 percent stake, Foreign institutional investors hold 24.1 percent, and Domestic institutional investors 12.92 percent.
Written by Omkar Chitnis
