CEATLTD

March 7 (Reuters) - CEAT Ltd CEAT.NS:

• ODISHA TAX DEPARTMENT ISSUES ORDER WITH 30.6 MILLION RUPEES DEMAND, 3.1 MILLION RUPEES PENALTY

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Feb 4 (Reuters) - CEAT Ltd CEAT.NS:

• GOT DECREE OF INCORPORATION FOR INDONESIA UNIT - PT CEAT TYRES INDONESIA

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** Tyre maker CEAT CEAT.NS falls ~6% to 2,876.65 rupees ($33.26)

** Co posts bigger-than-expected fall in Q3 profit on higher rubber costs

** Net profit fell 46.5% to 971.1 million rupees ($11.25 million)

** Raw material costs jumped 25% y-o-y

** CEAT rated "buy", on avg, by analysts - LSEG data

** Stock trims 12-month gain to 17.8%

($1 = 86.4800 Indian rupees)

(Reporting by Ananta Agarwal in Bengaluru)

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Jan 15 (Reuters) - CEAT Ltd CEAT.NS:

• Q3 CONSOL NET PROFIT 971.1 MILLION RUPEES; IBES EST. 1.33 BILLION RUPEES

• Q3 CONSOL REVENUE FROM OPERATIONS 33 BILLION RUPEES; IBES EST. 33.1 BILLION RUPEES

• APPROVES INCORPORATION OF SUBSIDIARY IN INDONESIA

• TO INVEST 4 BILLION RUPEES IN NAGPUR PLANT EXPANSION

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Jan 6 (Reuters) - CEAT Ltd CEAT.NS:

• CEAT - APPROVES 25.7 MILLION RUPEES INVESTMENT IN TYRESNMORE

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** Shares of tyremaker CEAT CEAT.NS rise 4.6% to 3,293 rupees

** Co said on Friday it would buy French tyremaker Michelin's MICP.PA Camso brand for $225 mln, as it looks to expand into higher-margin off-highway tyres (OHTs)

** OHTs are tyres fitted into heavy-duty vehicles such as tractors, harvesters and bulldozers

** Stock hit record high on Monday post the announcement; at least 10 analysts hiked co's PT, as per LSEG data

EXPANSION OF GLOBAL PRESENCE IN OHT SEGMENT TO BOOST REV

** Emkay Research ("buy", hikes PT to street high of 4,000 rupees) says Camso’s double-digit market share and strong presence in North America and Europe to complement CEAT’s rev growth

** Nirmal Bang Equities ("buy", hikes PT to 3,661 rupees) expects deal to be earnings per share accretive and synergistic as it is in line with CEAT’s strategy of expanding off-highway tyres (OHT) export business

** Prabhudas Lilladher Capital ("hold", hikes PT to 3,171 rupees) says acquisition will increase co's OHT rev contribution from 15% to ~25% in the long-term; expects new business to add incremental rev of ~12% by FY27

(Reporting by Ashna Teresa Britto in Bengaluru)

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** Shares of CEAT CEAT.NS climb ~11% to a record high of 3,426 rupees

** Co acquires French tyremaker Michelin's MICP.PA off-highway tyres and tracks business under Camso label for $225 mln

** Stock set for best intraday gain since July 2023

** Acquisition marks Michelin's exit from construction tracks and bias tyres business - CEAT

** Transaction to expand CEAT's product portfolio in off-highway tyres and tracks segment and will complement its efforts in growing speciality tyres business, Investec analysts say

** Camso to contribute ~13% to CEAT's FY26 revenue - Investec

** Avg rating of analysts on CEAT, rivals JK Tyre JKIN.NS and Apollo Tyres APLO.NS at "buy" - LSEG data

** CEAT's ~41% YTD climb highest among peers; APLO up ~20% and JKIN has risen ~2% YTD

(Reporting by Kashish Tandon in Bengaluru)

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Dec 6 (Reuters) - CEAT Ltd CEAT.NS:

• CEAT - ENTERING INTO DEFINITIVE AGREEMENT(S) WITH ASSOCIATE COMPANIES IN MICHELIN GROUP

• CEAT LTD - DEAL VALUED AT ABOUT $225 MILLION

• CEAT LTD - TRANSACTION EXPECTED TO COMPLETE IN 6-9 MONTHS

• CEAT - ACQUISITION OF CAMSO BRAND'S OFF-HIGHWAY CONSTRUCTION EQUIPMENT TYRE AND TRACKS BUSINESS

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** Shares of Indian motorcycle maker Bajaj Auto BAJA.NS fall 10% to 10,401 rupees; set for their worst day since March 2020, if losses hold

** Fall after BAJA's weak festive sales growth outlook at just 3%-5% against industry expectations of at least 8%

** BAJA top pct loser on Nifty auto index .NIFTYAUTO and Nifty 50 index .NSEI, which are down 2.8% and 0.5%, respectively

** Forecast drags rivals Hero MotoCorp HROM.NS and TVS Motor TVSM.NS down 3.7% and 4.7%, respectively

** Nifty auto index set for worst day since early Aug

** Tyre-makers CEAT CEAT.NS, MRF MRF.NS and Apollo Tyres APLO.NS fall between 0.4% and 2%.

** Battery makers Exide Industries EXID.NS and Amara Raja Energy & Mobility AMAR.NS fall ~2% each

** Auto-focussed lender Shriram Finance SHMF.NS falls 1.6%

(Reporting by Dimpal Gulwani in Bengaluru)

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** Shares of tyre-makers CEAT CEAT.NS down 2.8%, Apollo Tyres APLO.NS and JK Tyre & Industries JKIN.NS down 3.2% each, MRF MRF.NS down 1.6%

** Prices of crude oil-a key ingredient for refiners-rise on the prospect of a widening Middle East conflict that could disrupt oil flow from the region O/R

** Tyre cos use crude intermediates, and a rise in oil prices likely to increase their input costs

** JKIN and APLO each eye worst day since early Aug

** CEAT, APLO, and JKIN rated "buy" on avg, MRF rated "sell" - LSEG data

** CEAT and APLO up ~27% and ~21% YTD respectively; MRF and JKIN each up ~8%

(Reporting by Varun Vyas in Bengaluru)

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** Shares of India's CEAT CEAT.NS rise ~2% to 2,981 rupees, set to gain for the first session in five

** Tyremaker said its Tamil Nadu plant has started production line for tyres designed for trucks and buses

** Plant expected to produce 1,500 tyres/day in next 12 months - CEAT

** On an avg, co rated "buy" vs "sell" on rival MRF MRF.NS - LSEG data

** YTD stock has risen 19% while MRF has gained 5.2%

(Reporting by Hritam Mukherjee in Bengaluru)

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July 18 (Reuters) - CEAT Ltd CEAT.NS:

• CEAT Q1 CONSOL NET PROFIT 1.54 BILLION RUPEES; IBES PROFIT EST. 1.52 BILLION RUPEES

• CEAT Q1 CONSOL REVENUE FROM OPERATIONS 31.93 BILLION RUPEES; IBES REVENUE EST. 30.99 BILLION RUPEES

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** MRF MRF.NS, Apollo Tyres APLO.NS, Ceat CEAT.NS, JK Tyre JKIN.NS gain between 1.8%-8.5%

** CNBC-TV18 reports the Indian tyre makers have announced price hikes

** Ceat among top gainers in Nifty small-cap .NIFSMCP100 index, which is up 0.5%

** Apollo Tyres among top gainers in mid-cap index .NIFMDCP100, up 0.5%

** APLO, JKIN top gainers among tyre stocks YTD, rising 14.3% and 13.3%, respectively

(Reporting by Sethuraman NR in Bengaluru)

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** Indian auto stocks .NIFTYAUTO flat

** But two-wheeler stocks gain, while four-wheelers stall

** Drop in retail sales of cars steepens in June, data shows

** Gains in two-wheeler sales, meanwhile, acclerates

** TVS Motor's TVSM.NS 2% jump lead two-wheelers' gains

** Eicher Motors EICH.NS and Bajaj Auto BAJA.NS up nearly 1%; Hero MotoCorp HROM.NS flat

** Mahindra and Mahindra's MAHH.NS 1.3% drop steepest among car makers

** Tata Motors TAMO.NS and Maruti Suzuki MRTI.NS flat

** Tyremakers MRF MRF.NS and JK Tyre JKIN.NS flat; Ceat CEAT.NS up 0.5%

** Still, Mahindra's 66% gain is highest on index among automakers

(Reporting by Savio Dsouza)

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June 28 (Reuters) - CEAT Ltd CEAT.NS:

• FURTHER INVESTMENT IN TYRESNMORE ONLINE

• DEAL FOR 29.1 MILLION RUPEES

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June 17 (Reuters) - CEAT Ltd CEAT.NS:

• RE-APPOINTS ARNAB BANERJEE AS MD, CEO

• APPROVED FURTHER 4.5 MILLION RUPEES INVESTMENT IN CLEANWIN ENERGY FIVE LLP

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** Shares of Goodyear India GDYR.BO down 5.5% to 1,143.5 rupees, its steepest one-day pct fall since early-Feb

** Tires and tubes maker posted Q4 loss of 42.1 million rupees ($506,329) vs profit of 336.1 mln rupees yr ago

** Co's total expenses came in at 5.6 bln rupees, down 8% Y/Y; rev, however, fell 15.6% to 5.54 bln rupees

** More than 18,000 shares traded, ~3x its 30-day avg

** Stock down 6.44% in last 12 months, compared to a ~50% and 72.6% rise in MRF MRF.NS and CEAT CEAT.NS

($1 = 83.1475 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

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** Shares of JK Tyre & Industries JKIN.NS rise 5.7% to 427.6 rupees

** Stock on track for best day since Jan 23, if gains hold

** Co's Q4 profit climbed ~56% YoY

** Rivals MRF MRF.NS, CEAT CEAT.NS and Apollo Tyres APLO.NS reported drop in their Q4 profit

** MRF stock down 0.3% on the day, CEAT and APLO up 0.2% and 1.1%, respectively

* LSEG data

(Reporting by Varun Vyas in Bengaluru)

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** Shares of CEAT CEAT.NS down 3.9%, on track for worst day since Dec. 20, 2023

** Co's Q4 profit fell 18.8% YoY; analysts on avg expected it to rise 22.4%, per LSEG data

** Stock was down as much as 9.9% in early trade before trimming some losses

** Rivals MRF MRF.NS and Apollo Tyres APLO.NS down 2.7% and 2.1%, respectively

** MRF will report results on Friday, APLO to report in the coming weeks

** CEAT, APLO stocks rated "buy" on avg, MRF rated "sell" - LSEG data

** YTD, CEAT stock up 3.8%; APLO and MRF up 11% and 1.3%, respectively

(Reporting by Varun Vyas in Bengaluru)

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BENGALURU, May 2 (Reuters) - Indian tyremaker CEAT CEAT.NS reported a lower fourth-quarter profit on Thursday, hurt by higher rubber costs.

WHY IT'S IMPORTANT

CEAT, whose customers include automakers Maruti Suzuki MRTI.NS and Mahindra & Mahindra MAHM.NS, is the first Indian tyremaker to report results this quarter.

CONTEXT

Domestic sales of overall vehicles in India rose more than 20% in the fourth quarter and production climbed more than 21%, according to industry data.

Prices of rubber, a key raw material for tyre manufacturers, rose roughly 10% in the quarter, according to analysts.

BY THE NUMBERS

CEAT's fourth-quarter consolidated net profit fell 18.8% to 1.09 billion rupees ($13.06 million) from a year earlier. Analysts had expected a profit of 1.64 billion rupees, according to LSEG data.

The company's revenue from operations rose 4.1% to 29.92 billion rupees.

CEAT's quarterly expenses rose 3.7% to 27.98 billion rupees, led by a 5.5% climb in raw material costs.

GRAPHIC

(Figures in percentage)

($1 = 83.4550 Indian rupees)

(Reporting by Varun Hebbalalu and Meenakshi Maidas in Bengaluru)

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April 17 (Reuters) - CEAT Ltd CEAT.NS:

• CEAT LTD - GETS TAX DEMAND NOTICE FOR 2.6 MILLION RUPEES

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March 28 (Reuters) - CEAT Ltd CEAT.NS:

• CEAT LTD - INVESTED 33 MILLION RUPEES IN EQUITY SHARES OF UNIT TYRESNMORE ONLINE

• CEAT LTD - INVESTED IN TYRESNMORE BY WAY OF SUBSCRIPTION TO RIGHT ISSUE

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** Indian tyre-makers' margins to face pressure from spike in rubber prices, Nomura says; remains cautious on sector

** Brokerage says domestic natural rubber prices jumped 23% QoQ as of Monday; international prices surged 66%

** Nomura flags 200 bps impact on Q3 gross margins based on current domestic prices

** Impact will likely be seen in Q1, Q2 FY25 - brokerage

** "We believe companies will try to take price hikes to pass on a part of the cost, but this might be difficult and take some time in segments such as truck-bus, where we expect demand to be weak in the near term," Nomura says

** Apollo Tyres APLO.NS, JK Tyre JKIN.NS, CEAT CEAT.NS, MRF MRF.NS all posted Q3 profit jump

** Shares of all four last down between 0.1% and 2.8%

(Reporting by Varun Vyas in Bengaluru)

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** Shares of JK Tyre & Industries JKIN.NS are down ~5% at 417 rupees, hitting their lowest level since Jan. 18, 2024

** The tyre manufacturer said it received tax notice of 87.8 mln rupees ($1.1 million)

** Separately, co's unit received tax notice of 50.3 mln rupees

** In 2024, stock has marginally outperformed peers

** JKIN up ~5% YTD, vs a ~2 rise in both Ceat CEAT.NS and Apollo Tyres APLO.NS

($1 = 82.9080 Indian rupees)

(Reporting by Nishit Navin)

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March 14 (Reuters) - CEAT Ltd CEAT.NS:

• BOARD CONSIDERED INDUCTING NEW DIRECTORS ON VARIOUS BOARD COMMITTEES BY RECONSTITUTING

• WITH A VIEW OF EXPLORING POSSIBLE OPPORTUNITIES IN MOBILITY SPACE APPROVED ALTERATION OF MEMORANDUM OF ASSOCIATION

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March 7 (Reuters) - CEAT Ltd CEAT.NS:

• GOT TAX ORDER DISALLOWING INPUT TAX CREDIT OF 1.4 MILLION RUPEES

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** Tyre maker CEAT CEAT.NS to report single-digit percentage revenue growth in FY25, helped by growth across segments such as OEM and export - Nuvama

** CEAT last down 0.3% at 2,885 rupees, trading between gains of 2.6% and loss of 1.2% from last close

** Adds CEAT focusing on EV tyres with platform-wins in two-wheeler, passenger vehicle and commercial vehicle segments

** Stable growth outlook for domestic OEMs, increase in replacement demand and softening raw material prices, should lead to margin expansion in FY24 - Motilal Oswal

** Nomura expects CEAT to report ~8% revenue CAGR over FY24-26 led by double-digit growth in exports, but partly offset by single-digit growth in OEMs and replacement

** Avg recommendation on CEAT and Apollo Tyres APLO.NS is 'buy', JK Tyre JKIN.NS has 'hold', MRF MRF.NS rated 'sell' - LSEG data

** Median target price on CEAT is 2,980 rupees - LSEG

** CEAT up ~19% YTD vs Nifty auto index's .NIFTYAUTO 13.5% rise

(Reporting by Rama Venkat in Bengaluru)

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BENGALURU, Feb 9 (Reuters) - Indian tyre maker MRF MRF.NS reported a three-fold rise in third-quarter profit on Friday, helped by an uptick in two-wheeler sales.

MRF, the country's top tyre maker and the most expensive stock, said its profit from continuing operations for the three months ended Dec. 31 rose to 5.08 billion rupees (around $61 mln) from 1.69 billion rupees.

The results are largely in line with those of other tyre makers, who reported profits that grew between 70% and 400%.

Analysts said MRF, unlike fierce competitors JK Tyre JKIN.NS and CEAT CEAT.NS, had not been able to hike prices during the quarter. Instead, the company benefited from a rebound in two-wheeler sales and replacement demand, a key sales driver for tyre makers in the country.

Two wheeler sales were up around 23% year-on-year in the third-quarter, the fastest growth so far this fiscal, helped by a revival in rural demand.

This helped it make up for sluggish sales in the bus and truck segments, in which MRF has a higher exposure compared to rivals, and drove revenue up an industry-leading 9.3%.

"It would be tough for the industry to hike prices easily going ahead due to major raw material basket inflation and thus result in margin mean reversion," ICICI Securities said in a note in late December.

Total expenses rose a modest 1%, with raw material costs dipping slightly.

The company's shares, which have been near record levels for the last few months, were down 1% earlier in the session and fell 3% after the results.

($1 = 82.9875 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru; Editing by Janane Venkatraman )

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BENGALURU, Jan 24 (Reuters) - Indian tyre maker CEAT CEAT.NS reported a bigger-than-expected rise in third-quarter profit on higher margins, as price hikes made up for a rise in raw material costs and a slow recovery in sales growth.

CEAT's consolidated net profit rose more than five times to 1.81 billion rupees (nearly $22 million) for the quarter ended Dec. 31. Analysts, on average, expected a profit of 1.24 billion rupees, per LSEG data.

The company hiked prices of its tyres for a second straight quarter. This helped it push its profit margins up to 6.1% from 1.3% a year ago, even as prices of raw materials rose this quarter.

Rubber prices, the key ingredient in tyre-making, ended higher in the quarter, responding to the rise in crude oil prices. Total expenses rose 2.5%, with raw material costs shooting up nearly 3%.

"It would be tough for the industry to hike prices easily going ahead due to major raw material basket inflation and thus result in margin mean reversion," said ICICI Securities in a note in late December.

Revenue for the tyre-maker, which counts the likes of Maruti Suzuki MRTI.NS and Mahindra and Mahindra MAHM.NS as its clients, rose nearly 9% to 29.63 billion rupees, ahead of a 6% rise expected by analysts.

This is the second quarter of higher revenue growth for CEAT, following six straight quarters of slowing growth since July-September 2022, when it recorded a bumper growth of 47.8%.

Mumbai-based company is the first to report results among major tyre makers.

Rivals Apollo Tyres APLO.NS and JK Tyre JKIN.NS will report results next week, while MRF MRF.NS, the country's costliest stock, will release its quarterly numbers next month.

CEAT shares closed 4.4% higher before reporting results. They rose about 14% in the December quarter.

($1 = 83.0910 Indian rupees)

(Reporting by Nandan Mandayam and Kashish Tandon in Bengaluru)

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Jan 3 (Reuters) - CEAT Ltd CEAT.NS:

• GETS ORDER FROM DEPUTY COMMISSIONER OF STATE TAX, MAHARASHTRA, DEMAND OF 2.2 MILLION RUPEES

• GETS ORDER FROM ADDITIONAL COMMISSIONER, CGST & CENTRAL EXCISE, VADODARA FOR INTEREST OF 32.7 MILLION RUPEES, PENALTY 136.8 MILLION RUPEES

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