Sonrise in Ceat: Anant Goenka takes over as MD
Anant Goenka, RPG Group chairman Harsh Goenka's 30-year old son, has taken over as the managing director of the group's flagship company Ceat. HT reports. Rolling onUpdated: Mar 13, 2012 03:05 IST
Anant Goenka, RPG Group chairman Harsh Goenka's 30-year old son, has taken over as the managing director of the group's flagship company Ceat.
Anant, currently the deputy managing director of Ceat, will assume charge on April 1, following the retirement of incumbent MD Paras K Chowdhary. Chowdhary will continue to be a whole-time director.
Anant, an MBA from the Kellog School, had donned various roles in group companies. He was head of Ceat's specialty tyre business and later he became vice-president of KEC International Ltd in charge of its telecom business and business development in the US. He moved on to become executive director of KEC.
He had worked briefly with Hindustan Unilever, Accenture and Morgan Stanley too.
At Ceat, Anant has been working on changing the product mix with greater emphasis on passenger car radials to improve the margins of India's fourth largest tyre company. He also looks to create overseas markets for Ceat. With interest, debt repayment and raw material cost hurting bottomline, Ceat's net profit for the third quarter of the fiscal more than halved to R2.39 crore, while revenue grew 22% to R1,065 crore.
"My aim would be to make Ceat amongst the most profitable tyre companies in India in the next 5 years by strengthening the Ceat brand and improving operational efficiencies," said Anant. "Growth has been 20% per annum for the last three years. But the profitability has been a challenge," he had said in an earlier interaction with Hindustan Times.
He is betting big on the newly-built R650-crore Halol radial tyre plant, which can make 300,000 passenger car and 40,000 truck tyres a month.
Known to be soft-spoken and friendly, Anant is married and has a little daughter.
Running for the first time, he finished the 21 km half-marathon within 2 hours 18 minutes at Mumbai Marathon this year.
First Published: Mar 12, 2012 23:36 IST