Quarterly Performance H1 Particulars Q1Q2H1 10-1111-12 1737.8Gross Sales1160.81191.82352.6 1603.8Net Sales1072.51104.72177.2 84.8EBIDTA-9.461.151.7 25.2Interest (net)34.235.970.1 16.1Depreciation15.717.232.9 43.4Operating PBT-59.28.0-51.2 (0.2) Exceptional expense (VRS) & Non Operating Income 2.8(0.3)2.5 43.6PBT-62.08.3-53.7 5.10%EBIDTA %-0.87%5.52%2.37% 2.71%PBT %-5.78%o.75%-2.46% ( in Rs Crs)Figures in bracket indicate Income
Quarterly Performance - Highlights Positives: Halol Plant −Commenced commercial production at the Radial Plant with a capacity of 150 Mt/ day in March,2011 Ceat Brand Acquisition −Acquired CEAT Brand for Euro 9.0 million from Pirelli. Motorcycle Capacity −Increased the sourcing of Motorcycle tyres from 2.50 lacs per month to 4.5 lacs per month. Exports −Export has registered growth of 98% in value terms in H1 FY 11-12 as compared to corresponding period last year. Negatives: Increase in RM prices impacting margins. Slowdown in commercial segment.
1.Shift from Commercial to Passenger Segment – Motor Cycle, UVR, PCR Movement to higher margin segment Relatively price inelastic Passenger segment to move from 13% of sales in FY11 to 18% in FY 12 and 25% in FY13 (in value terms) 2.Increase in Export Sales Leverage CEAT Brand in Latin America and Europe. Focus on Emerging Markets 3.Increase Radial segment share Move from 5% of sales in FY11 to 10% in FY 12 and 20% in FY13 (in tonnage terms) 4.Increase outsourcing Motorcycle growth to come through outsourcing Rs 300 crores addition to turnover through outsourcing in FY 13 5.Ramp up of new capacities Halol and outsourcing to add Rs 1000 crores turnover in FY13 Way Forward