Ceat Announces Record Final Dividend Twice As Much As Last Year

Ceat Ltd. has announced a record final dividend of Rs 30 per equity share for fiscal 2024, which is more than double the previous year. The company announced distribution of Rs 121 crore to unitholders in the fourth quarter of the previous fiscal.

The dividend will be paid after approval from shareholders at the ensuing annual general meeting, the company announced through an exchange filing on Thursday. The final dividend will be paid or dispatched within 30 days of its declaration.

In comparison, the tyre-making company had paid a total dividend of Rs 12 in FY23. It had given a final dividend of Rs 3 on June 10, 2022.

In the fourth quarter, Ceat reported a net profit of Rs 102.8 crore and a revenue gain of 4.07% at Rs 2,991.8 crore.

• Revenue up 4.07% at Rs 2,991.8 crore vs Rs 2,874.8 crore.

• Ebitda rises 6.44% to Rs 391.5 crore vs Rs 365.8 crore.

• Margin up 29 basis points at 13.08% vs 12.79%.

• Net profit down 22.76% at Rs 102.3 crore vs Rs 132.4 crore.