CEAT's Q4 2024 Financial Results Show Decline in Performance, Stock Marked as 'Hold'.
CEAT, a midcap company in the tyre industry, recently announced its financial results for the quarter ending March 2024. According to the data released on May 2, 2024, the company's stock call has been marked as 'Hold' by MarketsMOJO.
The financial performance of CEAT for the quarter has been relatively flat, with a score of 5 compared to 22 in the previous three months. This indicates a decline in the company's overall performance.
One of the major factors contributing to this decline is the Profit After Tax (PAT), which has fallen by 12.5% to Rs 147.51 crore compared to the average PAT of the previous four quarters, which was Rs 168.52 crore. The near-term trend for PAT is also negative.
Similarly, the Profit Before Tax less Other Income (PBT) has also seen a decline of 9.5% to Rs 193.79 crore compared to the average PBT of the previous four quarters, which was Rs 214.12 crore. The near-term trend for PBT is also negative.
The company's Earnings per Share (EPS) for the quarter is at its lowest in the last five quarters, at Rs 26.84. This indicates a declining profitability and lower earnings for shareholders.
Overall, the financial results for the quarter ending March 2024 have not been favorable for CEAT. However, it is important to note that this is based on the company's past performance and does not reflect any future potential. Investors are advised to hold their stocks and monitor the company's performance in the upcoming quarters.
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