Inline performance; RM prices inched up QoQ

29 Jan 2024
5 Min read 
  • CEAT's 3QFY24 results were in line with expectations, with inline performance.
  •  Replacement and exports demand are expected to continue driving growth.
  •  EBITDA margin declined slightly due to an increase in raw material costs.
  •  FY25 EPS is revised upwards by 4% to factor in demand recovery and lower depreciation.
  •  Reiterate BUY rating with a target price of INR3,250.
Login / Open Demat Account to read the report

Never Miss Out on Hot Market Updates

Get exclusive market news delivered to your inbox - on priority