Way to financial health

Invest more and more in mutual funds. Remember that they yield positive returns compared to negative returns generated on your account

Target savings and measure your expenses

Cover financial needs and emergencies through insurance

CEAT Concall Summaries

CEAT Q1 FY19 Summary

• Our quarter one consolidated net revenue from operations grew by 16.9% year-on-year and 1.9% quarter-on-quarter. Our revenues stood at 1,706 Crores for the quarter, the growth has been largely driven by volumes
• Our consolidated gross margins stood at 39.3% for Q1. It has contracted marginally by about 32-basis points sequentially largely due to increase in raw material cost arising out of increase in crude oil prices and depreciation in the Indian currency.
• We saw about 2% price increases for the raw material in Q4 to Q1 and expect the similar kind of impact 2-3% from Q1. Took about approximately a 1.5% to 2% price increase in Q1 on an average across segments
• Axle Norms: So, while weight limit has increased by about 25% we think that the impact can be about maybe a 5%, 7% or 10% adverse impact on delta growth going forward. So, we expect OEM commercial vehicle sales to get impacted. Tyre size can increase to cater to higher axle norms
• Took 1% price increase in July 2018 in two wheeler segment. This was independent of competition and a unilateral decision. Ceat was already priced at a premium and price gap with competition would have increased even further after hike 
• Working Capital: Managed to bring our working capital down and we have given of about 130 Crores or so in Q1. So that helped us to repay the debt and whatever cash that we were able to generate was more or less matching with the additional capex required, so we are able to achieve both in terms of ensuring capex requirement is met and also in bringing the capex debt levels to come down
• Capex guidance of INR 1,500 crore in FY19 with INR 200 cr done in Q1FY19
• Ambernath plant in early stage with capacity utilisation of 25-30%
• Raw material sourcing: Typically buys from local source it is largely sheet rubber and block rubber we always import because it not produce in India; however, the percentage vary depending on availability and also what is the kind of cover that we would like to have. Normally the raw material prices impact us with the lag of about two to three months and depending on our overall physical and total covers.

Greetings on Vijay Dashmi...

Today , i feel nostalgic about the past ...when me and my family used to watch Ramlila that are a regular feature in northern India during navratras...
I particularly remember the curiousity and the excitement in me to watch the effigies of the demon king Ravana burn out with a bang..
At first they would burn out giving out a lot of heat and light ...symbolising the boundless knowledge that the demon king had ...but then the effigies would burn out completely and then fall to the ground even with all the support ...that symbolised the fall of the "Pride" ..the false pride in all of us ...and that knowledge without wisdom is of little use...that even the most knowledgeable may fall prey to vagaries of this world ...A great learning experience ...

I believe that there is a Ravana in all of us ...symbolising all the negative energies that we possess...it signifies pride and anger ...over confidence and loss of virtue..but that is exactly where the lessons of Vijay dashmi suit our modern day lives ..."To burn the ravana inside us "
and then only we can claim to celebrate this eternal festival in its truest form...

Wish everyone a peaceful and a happy dusshera !!

Why this blog ?

I had been thinking of creating my blog for a long time and it just happened to be now...this blog is just a medium to share thoughts , suggestions and talk about all my stupid eerie philosophies , learnings , experiences...and off course creation of the blog formally announces me as a netizen..

The name "Satanic Sermon" may be a bit exaggerated...but at times we need to look at the bad sides of our lives to realise the many goods that we have ...and without knowledge of darkness...knowledge of light is a flash in the pan ....

A Big Hiiiiiiiiii to all the future visitors of the blog...
As starting out with a new venture ..we first invoke the blessings of GOD ..so lets praise Lord Ganesha for an auspicious beginning to this blog ..

I , Gaurav Aggarwal , invoke the pure blessings of Lord Ganesha..

His Small Eyes denote Concentration..
His Long Trunk inspires Inquisitiveness..
His Large Ears imply Listening Capability..
His Big Stomach signifies Knowledge Assimilation..
His Mouse helps in World Navigation..