Ceat - R&D Capabilities To Drive Growth In Exports, EV: Motilal Oswal

"BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Motilal Oswal Report.Ceat Ltd. hosted the investing community, followed by a plant visit to its Halol facility and an the overview of its research and development center. The company showcased its R&D capabilities (including its design studio capabilities, tyre performance evaluation) through which it aims to explore incremental business avenues such as exports (scale international business to Rs 35 billion) and electric vehicles (new product launches and increasing share in premium segment). Moreover, Ceat indicated its improved efficiency at its Halol plant, as overall energy cost fell by 15% due to digitisation and ~22% including productivity. The company continues to focus on key strategic areas such as passenger vehicle/two-wheeler/off-highway tyres (to help margins), along with the expansion in international markets and increasing business in EVs. This, along with prudent capex plans (to benefit free cash flow), should be a long-term growth catalyst for the company. Valuations at 11.6 times/9.2 times FY24E/FY25E consolidated earnings per share do not fully capture the benefits from the new capacities and softening of raw material costs..Click on the attachment to read the full report:.Tyres - Profitability Recovering Briskly, Set To Improve Further: ICICI Securities.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

Ceat - R&D Capabilities To Drive Growth In Exports, EV: Motilal Oswal

Cyclical recovery in both OEMs, replacement will enable faster absorption of new capacities & drive the benefit of OpLev.

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Ceat - R&D Capabilities To Drive Growth In Exports, EV: Motilal Oswal

Cyclical recovery in both OEMs, replacement will enable faster absorption of new capacities & drive the benefit of OpLev.

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