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
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
Sri Lanka’s CEAT ups tyre output amid import controls, holds prices