Huge imports are keeping domestic rubber prices soft and lower cost of raw materials is helping boost the company's operating profit margins, Subba Rao says
There is strong demand from truck companies and this could improve in the coming months as economic recovery gathers pace, says Subba Rao Amarthaluru, group CFO, RPG Group.
In an interview to CNBC-TV18's Latha Venkatesh and Sonia Shenoy, he says overall sentiment in the sector is positive, thanks to weak rubber prices, and now easing crude prices.
Huge imports are keeping domestic rubber prices soft and lower cost of raw materials is helping boost CEAT 's operating profit margins, Subba Rao says.
He sees rubber prices rising 8-10 percent over the next few months, but expects the company's operating expenses to remain stable. He sees current year revenues rising 8-10 percent, driven by strong growth in the December and March quarters, which are typically strong quarters for the company.
Ceat stock price
On September 09, 2014, at 11:13 hrs Ceat was quoting at Rs 807.75, up Rs 29.55, or 3.80 percent. The 52-week high of the share was Rs 848.90 and the 52-week low was Rs 105.00.
The company's trailing 12-month (TTM) EPS was at Rs 67.35 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 11.99. The latest book value of the company is Rs 277.70 per share. At current value, the price-to-book value of the company is 2.91.
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