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Kelani Tyres PLC is engaged in the business of importation and sale of tires in addition to holding investments in its subsidiary and joint venture (JV), as well as earning rental income from investment property. The Company's segments are Local sales of tyres, Vehicle hiring income and Investments. The Company's JV company, CEAT Kelani Holdings (Private) Limited (CKH), is engaged in the manufacture of automobile tires for the purpose of local sales and exports. In addition, the JV imports and sell tires of certain sizes. CKH is involved in the Motorcycle, Truck/Bus, three Wheeler, Agricultural and Passenger Car/Van sectors. CKH's manufacturing facilities are located at their factories at Nagoda, Kalutara district and Kelaniya, Gampaha district. Executive Cars (Private) Limited is the subsidiary of the Company.
What will be the Financial Prospect of the Kelani Tyres in coming Quarterly Results?
Summary of Results as of 30 June 2020 (Q1)
- CEAT Tyres (JV) has only made 182Mn PAT which includes 152Mn tax revesal.
- CEAT Tyres (JV) TO for last five Qs
2019/20 Q1 - 2.3 Bn (Ester Attack)
Q2 - 2.6 Bn
Q3 - 3 Bn
Q4 - 1.55 Bn (Covid Lock-down)
2020/21 Q1 - 1.55 Bn (Covid Lock-down)
Its not sure why TYRE could not achieve much in Q1 20/21. Company like TKYO has done tremendously well under import restrictions and expected to do well in coming Quarters.
As boasted by the news papers & media and with the restriction in place for tyre imports, Kelani Tyre has to record impressive results in Q2. If not that would be huge disappointment for the investors.
CEAT Kelani production surge boosts earnings of local rubber industry
http://bizenglish.adaderana.lk/ceat-kelani-production-surge-boosts-earnings-of-local-rubber-industry/
CEAT ramps up ‘2-wheeler’ tyre production by 85% in 3 months
https://island.lk/ceat-ramps-up-2-wheeler-tyre-production-by-85-in-3-months/
CEAT to develop local industry: Save Rs.11Bn in foreign exchange via import substitution
https://www.lankabusinessonline.com/ceat-to-develop-local-industry-save-rs-11bn-in-foreign-exchange-via-import-substitution/
Sri Lanka’s CEAT ups tyre output amid import controls, holds prices
https://economynext.com/sri-lankas-ceat-ups-tyre-output-amid-import-controls-holds-prices-74327/
What will be the Financial Prospect of the Kelani Tyres in coming Quarterly Results?
Summary of Results as of 30 June 2020 (Q1)
- CEAT Tyres (JV) has only made 182Mn PAT which includes 152Mn tax revesal.
- CEAT Tyres (JV) TO for last five Qs
2019/20 Q1 - 2.3 Bn (Ester Attack)
Q2 - 2.6 Bn
Q3 - 3 Bn
Q4 - 1.55 Bn (Covid Lock-down)
2020/21 Q1 - 1.55 Bn (Covid Lock-down)
Its not sure why TYRE could not achieve much in Q1 20/21. Company like TKYO has done tremendously well under import restrictions and expected to do well in coming Quarters.
As boasted by the news papers & media and with the restriction in place for tyre imports, Kelani Tyre has to record impressive results in Q2. If not that would be huge disappointment for the investors.
CEAT Kelani production surge boosts earnings of local rubber industry
http://bizenglish.adaderana.lk/ceat-kelani-production-surge-boosts-earnings-of-local-rubber-industry/
CEAT ramps up ‘2-wheeler’ tyre production by 85% in 3 months
https://island.lk/ceat-ramps-up-2-wheeler-tyre-production-by-85-in-3-months/
CEAT to develop local industry: Save Rs.11Bn in foreign exchange via import substitution
https://www.lankabusinessonline.com/ceat-to-develop-local-industry-save-rs-11bn-in-foreign-exchange-via-import-substitution/
Sri Lanka’s CEAT ups tyre output amid import controls, holds prices
https://economynext.com/sri-lankas-ceat-ups-tyre-output-amid-import-controls-holds-prices-74327/
