CEAT : Results for Q2 FY22

October 25, 2021
BSE Limited	National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers,	Exchange Plaza,
Dalal Street,	Bandra Kurla Complex, Bandra (East),
Mumbai 400001	Mumbai 400051
Security Code: 500878	Symbol: CEATLTD
	NCD Symbol: CL23, CL25
	CP Listed ISIN: INE482A14AL2, INE482A14AM0,
	INE482A14AN8, INE482A14AO6, INE482A14AP3,
	INE482A14AQ1, INE482A14AR9, INE482A14AS7
Dear Sirs /Madam,

Sub: Outcome of the Board Meeting held on October 25, 2021

Pursuant to the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Board of Directors of the Company at its meeting held today, i.e. on Monday, October 25, 2021, inter-alia, considered and unanimously approved:

1. The Unaudited Standalone and Consolidated Financial Results of the Company, for the quarter and half year ended September 30, 2021, which are enclosed herewith, together with the respective Limited Review Reports issued thereon by the Statutory Auditors of the Company and taken on record by the Board.
2. The issuance of listed/unlisted, secured/unsecured, redeemable Non-Convertible Debentures (NCDs) or such other debt securities, on a private placement basis, in one or more series/ tranches, up to an amount of Rs. 500 Crores (Rupees Five Hundred crores only), as may be deemed appropriate, in accordance with the approval of the shareholders sought at the Annual General Meeting of the Company held on September 14, 2021 and authorized the Finance and Banking Committee of the Board of the Company to take such necessary steps in this regard, including finalization of the terms of issuance of NCDs or such other debt securities. Accordingly, necessary disclosures as prescribed under the SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 shall be made upon such applicable actions being taken by the Finance and Banking Committee.
3. The appointment of Mr. Paras K. Chowdhary (DIN: 00076807) as an Additional Director in the capacity of Non-executiveNon-Independent Director, based on the recommendation of the Nomination and Remuneration Committee and subject to the approval by the shareholders of the Company.
   Necessary disclosures pursuant to SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 and NSE Circular NSE/CML/2018/24 dated June 20, 2018 and BSE Circular LIST/COMP/14/2018-19 dated June 20, 2018 are enclosed as Annexure to this letter.

The Board meeting commenced at 3.00 p.m. and concluded at 6.00 p.m. We request you to kindly take the above on record.

Thanking you,

Sincerely,

For CEAT Limited

Vallari Gupte

Company Secretary & Compliance Officer

Encl: as above

Disclosures as prescribed under SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 concerning appointment/re-appointment of director and other applicable circulars.

Sr.	Particulars			Mr. Paras K. Chowdhary
No					(DIN: 00076807)
1.	Reason for change viz. appointment,	Appointment as Non-executiveNon-Independent
	resignation,	removal, death	or	Director
	otherwise
2.	Date of	appointment/cessation	(as	October 25, 2021
	applicable & term of appointment)
					Liable to retire by rotation
3	Brief Profile (in case of appointment);	Mr. Paras K. Chowdhary, holds a Bachelor's degree in
					Physics (Hons.) and has over 35 years' experience in
					senior management positions in tyre industry, including
					Managing Director of the Company for more than 11
					years. Earlier he was employed with Apollo Tyres Limited
					where he started his career from a junior management
					position and reached the position of President and
					Whole-time Director within a reasonable time and he was
					also instrumental in turning around of that company. Mr.
					Chowdhary is recognised as one of the foremost experts
					in the tyre industry in India.
4	Disclosure	of	relationships between	None
	directors (in case of appointment of a
	director)
5	Affirmation pertaining to non-debarred	As per the declaration submitted to the Company, Mr.
	from holding the office of director by	Chowdhary has confirmed that he is not debarred from
	virtue of any SEBI order or any such	holding the office of the Director by virtue of any SEBI
	other authority			order or any other such authority.

	12th Floor, The Ruby
	29 Senapati Bapat Marg
Chartered Accountants	Dadar (West)
Mumbai - 400 028, India
	Tel: [phone]

Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Standalone Financial Results of the Company Pursuant to Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to

The Board of Directors

CEAT Limited

1. We have reviewed the accompanying statement of unaudited standalone financial results of CEAT Limited (the "Company") for the quarter ended September 30, 2021 and year to date from April 01, 2021 to September 30, 2021 (the "Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
2. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For S R B C & CO LLP

Chartered Accountants

ICAI Firm registration number: 324982E/E300003

SUDHIR

MURLIDHAR

SONI

Digitally signed by SUDHIR MURLIDHAR SONI

DN: cn=SUDHIR MURLIDHAR SONI, c=IN, o=Personal, email=[e-mail]

Date: 2021.10.25 16:50:50 +05'30'

per Sudhir Soni Partner Membership No.: 41870

UDIN: 21041870AAAABV7690

Place: Mumbai

Date: October 25, 2021

S R B C & CO LLP, a Limited Liability Partnership with LLP Identity No. AAB-4318

Regd. OfÕce : 22, Camac Street, Block 'B', 3rd Floor, Kolkata-700 016

CEAT LIMITED

CIN : L25100MH1958PLC011041

Registered Office

RPG House, 463, Dr. Annie Besant Road, Mumbai 400 030.

Statement of Unaudited Standalone financial results for the quarter and six months ended September 30, 2021

				Standalone		(₹ in lacs)
			Quarter ended		Six months ended	Year ended
	Particulars	30-Sep-21	30-Jun-21	30-Sep-20	30-Sep-21	30-Sep-20	31-Mar-21
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
1	INCOME
2	Revenue from operations	2,43,232	1,89,776	1,96,513	4,33,008	3,08,128	7,57,279
3	Other income	261	385	422	547	1,874	3,180
4	Total income [2+3]	2,43,493	1,90,161	1,96,935	4,33,555	3,10,002	7,60,459
5	EXPENSES
a)	Cost of materials consumed	1,61,678	1,28,811	1,04,859	2,90,489	1,50,857	4,17,376
b)	Purchases of stock-in-trade	193	241	491	434	531	1,009
c)	Changes in inventories of finished goods, work-in-progress and stock-in trade	(8,285)	(12,669)	(425)	(20,954)	20,499	6,743
d)	Employee benefits expenses	16,998	17,525	15,888	34,523	30,811	66,713
e)	Finance costs	4,869	4,526	4,440	9,395	9,268	17,305
f)	Depreciation and amortisation expenses	12,060	9,645	8,391	21,705	16,244	33,958
g)	Other expenses	51,021	39,315	46,647	90,237	66,168	1,68,059
	Total expenses	2,38,534	1,87,394	1,80,291	4,25,829	2,94,378	7,11,163
6	Profit before exceptional items and tax [4-5]	4,959	2,767	16,644	7,726	15,624	49,296
7	Exceptional items (Refer note 3)	51	-	-	51	2,179	3,406
8	Profit before tax [6-7]	4,908	2,767	16,644	7,675	13,445	45,890
9	Tax expenses
a)	Current tax charge	386	147	1,655	533	1,655	3,660
b)	Deferred tax charge / (credit)	926	625	(2,026)	1,551	(2,635)	866
10	Profit for the period [8-9]	3,596	1,995	17,015	5,591	14,425	41,364
11	Other comprehensive income
	a) i) Items that will not be reclassified to profit or loss	(155)	(45)	403	(200)	(14)	391
	ii) Income tax relating to above	39	11	(138)	50	5	(98)
	b) i) Items that will be reclassified to profit or loss	(306)	425	(1,148)	119	(1,131)	(1,759)
	ii) Income tax relating to above	77	(107)	408	(30)	390	516
	Total other comprehensive income / (loss) for the period	(345)	284	(475)	(61)	(750)	(950)
12	Total comprehensive income for the period [comprising profit and other comprehensive income	3,251	2,279	16,540	5,530	13,675	40,414
	/ (loss) for the period] [10+11]
13	Paid-up equity share capital	4,045	4,045	4,045	4,045	4,045	4,045
	(Face value of the share - ₹ 10 each)
14	Other equity						3,12,429
15	Earnings per share (of ₹ 10 each) (not annualised except for year ended march)
	a) Basic (in ₹)	8.89	4.93	42.06	13.82	35.66	102.26
	b) Diluted (in ₹)	8.89	4.93	42.06	13.82	35.66	102.26