CEAT on Friday signed a share purchase agreement with Tyresnmore Online Private Limited for the purchase of 1,08,637 shares aggregating to 39.34 per cent in the second quarter of this financial year, the company announced through an exchange filing. Post the purchase of shares Tyresnmore shall become a wholly owned subsidiary of CEAT.
The share purchase will be subject to terms and conditions as prescribed in the Share Purchase Agreement.
Tyresnmore Online Private Limited (“Tyresnmore”) is a private company with turnover of Rs. 1,425.84 Lakhs as on March 31, 2023. It is, inter alia, engaged in the business of selling automotive tyres, accessories and/or providing services of installing, fitting, wheel balancing and wheel alignment for automotive tyres.
CEAT Earnings Q1
On a consolidated basis, the Company’s revenue closed at ₹2,935 crore, EBITDA margin stood at 13.1 percent. Net profit stood at ₹144 crore.
On a standalone basis, the Company’s revenue stood at ₹2,921 crore and EBITDA margin stood at 13.2 percent. Net profit stood at ₹159 crore.
CEAT share
The shares of CEAT on Friday closed at Rs 2,456.25, up by 1.08 per cent.
