CEAT Limited on Wednesday announced that the Office of Commissioner of Customs, (NS – III), Raigad, Maharashtra has imposed penalty of Rs 3,06,000 under section 117 of Customs Act, 1962 for delay in application for permission of re-export extension against the Bills of Entries, the company on Wednesday announced through an exchange filing.
The copy of the communication from the Authority was received by the Officers of the Company as defined under Companies Act, 2023 on September 12, 2023.
The company on the filing said that based on the Company’s assessment, the Company is of the opinion that there is no major impact of the penalty on the financials of the Company.
CEAT Limited shares
The shares of CEAT Limited on Wednesday at 1:27 pm IST were at Rs 2,135, down by 0.80 percent.
CEAT Limited Q1FY24 Highlights
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.