NSE: CEATLTD · BSE: 500878 · ISIN INE482A01020
CEAT Limited stock analysis
CEAT Limited ranks #1364 in the TickerSutra evidence-ranked universe with a score of 54/100 and 95% data confidence. The latest captured fundamentals show ROCE of 19.1%, quarterly sales growth of 22.4% and quarterly profit growth of -96.7%.Monitor only
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- Strong CFO/EBITDA of 0.87×
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- Debt/equity is above 0.5×
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹9,363cr | ₹721cr | ₹71cr | 8.0% |
| 2023 | ₹11,315cr | ₹974cr | ₹182cr | 9.0% |
| 2024 | ₹11,943cr | ₹1,653cr | ₹635cr | 14.0% |
| 2025 | ₹13,218cr | ₹1,475cr | ₹471cr | 11.0% |
| 2026 | ₹15,678cr | ₹2,064cr | ₹697cr | 13.0% |
| TTM | ₹16,467cr | ₹2,025cr | ₹589cr | 12.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
RoutineLoss/Duplicate-Share Certificate-XBRLNSE · 29 Sept 2026 · Structured filingCEAT Limited has informed the Exchange about Loss of share certificates
CEAT Limited has informed the Exchange about Loss of share certificates
Open original XBRL sourceCEAT Limited has informed the Exchange about Loss of Share Certificates
RoutineLoss of Share CertificatesNSE · 29 Sept 2026CEAT Limited has informed the Exchange about Loss of Share Certificates
RoutineConfirmation of Redemption/Payment of Interest and PrincipalNSE · 28 Sept 2026Confirmation of Redemption/Payment of Interest and Principal
RoutineBoard Meeting IntimationBSE · 25 Sept 2026CEAT Limited has informed the Exchange about Board Meeting to be held on 14-Oct-2026 to consider and approve the Quarterly Unaudited Financial results of the Company for the period ended September 2026 and Other business.
MANAGEMENT COMMENTARY
Signals from filed documents
This enhances access to specialised markets and expands the global product portfolio. e) Integration of CAMSO business Capacity expansion initiatives across manufacturing facilities are progressing to support demand growth across passenger, two-wheeler and commercial vehicle segments. Investments in advanced technologies and automation are improving productivity and product quality.
This growth was broad-based across different segments and categories leading to increase in market share of CEAT in key categories. Profitability improved meaningfully during the year, with EBITDA margins expanding and overall earnings reflecting both operating leverage and disciplined cost management. This balanced performance of growth combined with margin improvement has strengthened CEAT Performance our competiti
Climate-related risks are managed through a structured ESG governance framework. Risk and Mitigation Plan: Margin impact due to raw material price volatility and competitive pricing pressures The Company mitigates margin risk through supplier diversification and strengthened OEM partnerships. Cost optimisation initiatives across procurement, manufacturing and distribution improve efficiency and reduce wastage.
119 per share in the previous year. The Company’s Cash Flow Strength and Working Capital Effectiveness Working Capital Efficiency: Strong focus on cash generation reflected in a negative cash conversion cycle of ~(-3.8 days) Operational Drivers: • Disciplined inventory management aligned with seasonal demand • Effective receivables control • Continuous supply chain optimisation supported by data-driven planning Liqui
15,000 Crore in revenue for the first time, with growth significantly ahead of the industry. This growth was broad-based across different segments and categories leading to increase in market share of CEAT in key categories. Profitability improved meaningfully during the year, with EBITDA margins expanding and overall earnings reflecting both operating leverage and disciplined cost management.
OEM demand also remained healthy, with strong growth in utility vehicle segments. Export markets witnessed a mixed trend, with strong growth in regions such as Europe and the United States, partly offset by disruptions in the Middle East due to geopolitical tensions. Overall, the industry demonstrated resilience during the year, supported by favourable domestic demand conditions and steady global market participation
With the acquisition of the brand which is renowned worldwide, new and hitherto unexplored markets will be accessible to the Company. The Company will be in a position to fully exploit the export market resulting in increased volume and better price realisation. Therefore, the management believes that the Brand will yield significant benefits for a period of at least twenty years.
The facility encompasses dedicated compounding alongside comprehensive rubber testing infrastructure, facilitating end-to-end development, evaluation, and optimisation of rubber compounds. This integrated methodology notably enhances development efficiency and expedites the time-to-market for specialised products. Furthermore, the extension of the Tyre Testing Centre bolsters the organisation’s capability to simulate
The operating environment through the year remained broadly supportive, particularly in the replacement and OEM segments, aided by improving affordability following GST rationalisation and sustained demand momentum across categories. At the same time, the latter part of the year was characterised by rising raw material costs and supply chain disruptions arising from global developments. While these factors have intro
Profitability improved meaningfully during the year, with EBITDA margins expanding and overall earnings reflecting both operating leverage and disciplined cost management. This balanced performance of growth combined with margin improvement has strengthened CEAT Performance our competitive position within the sector. Our focus on market share gains and premiumisation continued to deliver results.
Net Zero and Decarbonisation Strategy: Committed to achieving Net Zero by 2050 with SBTi-validated targets, the Company’s approach includes renewable energy adoption, energy efficiency, alternative fuels, sustainable materials, supplier engagement, low-emission logistics, and circular economy practices. Performance and Outcomes: Progress was achieved across renewable energy, water stewardship, sustainable materials,
e) The Company has recognised ₹ 1,438 lakhs as miscellaneous expenses during the year (March 31, 2025: ₹ 1,035 lakhs) which pertains to short term lease/low value asset which was not recognised as part of ROU. Based on long-term demand and supply planning, management estimates the annual capex requirement and project timelines which are approved by the Board. There are no projects which are overdue based on such time
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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