CEAT share price: Prabhudas Lilladher maintains Accumulate rating with price target of Rs 1472
CEAT Share Price: Prabhudas Lilladher said that CEAT’s 4QFY21 consolidated results missed estimates, as margin came lower at 11.4% (-130bp YoY/ 340bp QoQ) led by raw material headwinds and lower replacement mix. As gross margins are anticipated to remain weak in H1 due to RM inflation (+8-10% increase in Q1) and weaker mix (replacement share to normalize to 60% v/s 65% in H2
Prabhudas Lilladher said that it maintains accumulate rating with revised price target of Rs 1472 (earlier Rs 1667): Reuters