CEAT has commissioned the phase II of the Nagpur Plant to produce 2-Wheeler tyres for commercial purpose. The plant would beramped up over a period of time based on market demand and our overall capacities.

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CEAT announced that the 61st Annual General Meeting (AGM) of the company will be held on 10 September 2020.

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Total income fell 36.33% to Rs 1,126.46 crore in Q1 June 2020 over Q1 June 2019. CEAT reported an exceptional expense of Rs 21.8 crore in Q1 June 2020. The result was announced after market hours yesterday, 29 July 2020.

Consolidated EBITDA fell 39% to Rs 105.5 crore in Q1 June 2020 from Rs 172.4 crore in Q1 June 2019. EBITDA margin declined to 9.4% in Q1 June 2020 from 9.8% in the same period last year.

Anant Goenka, Managing Director, CEAT said, the company has resumed operations at all factories and is making concerted efforts towards ensuring it is ready as demand picks up.

CEAT, the flagship company of RPG Enterprises, is a tyre manufacturer and has a strong presence in global markets.

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Net loss of CEAT reported to Rs 34.76 crore in the quarter ended June 2020 as against net profit of Rs 82.60 crore during the previous quarter ended June 2019. Sales declined 36.07% to Rs 1120.16 crore in the quarter ended June 2020 as against Rs 1752.10 crore during the previous quarter ended June 2019.

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