Expect easing of pressure from high natural rubber price in H2: CEAT MD & CEO Arnab Banerjee
tyre major CEAT Ltd expects easing of pressure from high raw material costs in the second half of the ongoing fiscal after being impacted by 15-year high domestic natural rubber prices, according to its Managing Director and CEO Arnab Banerjee. The company expects its aftermarket business to continue to grow in double digits and better performance of its international business, which was also affected by non-availability of containers and high freight cost in the second quarter. The domestic natural rubber prices went up to a 15-year high at about Rs 250 per kg in the first half of the fiscal, Banerjee told PTI.
«We hope to see an improvement in Q4. I think the pressure is going to ease off in the second half of the year,» he said when asked how long the impact of high natural rubber prices is expected to last.
He further said, «Rubber prices have already come down to about Rs 200 per kg. While the increase Q2 over Q1 was six per cent, for Q3 over Q2 it is expected to be 1.5 per cent to 2 per cent.»
When asked about growth outlook, he said it remains strong.
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