CEAT Ltd
₹ 3,324
-1.01%
08 May
- close price
About
CEAT, established in 1958, is one of the largest tyre manufacturers and one of the fastest-growing tyre companies in India. CEAT became a part of the RPG Group in 1982. It is amongst the Top 25 best workplaces in Manufacturing by GPTW for 2022.[1]
Key Points
- Market Cap ₹ 13,445 Cr.
- Current Price ₹ 3,324
- High / Low ₹ 4,438 / 3,000
- Stock P/E 15.5
- Book Value ₹ 1,253
- Dividend Yield 0.90 %
- ROCE 20.6 %
- ROE 18.5 %
- Face Value ₹ 10.0
Pros
- Company has been maintaining a healthy dividend payout of 20.4%
Cons
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
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Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 5,504 | 5,451 | 5,702 | 6,213 | 6,831 | 6,748 | 7,573 | 9,313 | 11,263 | 11,893 | 13,172 | 15,215 | |
| 4,855 | 4,651 | 5,029 | 5,571 | 6,186 | 6,027 | 6,588 | 8,601 | 10,286 | 10,237 | 11,684 | 13,172 | |
| Operating Profit | 649 | 799 | 673 | 642 | 646 | 720 | 985 | 712 | 977 | 1,656 | 1,487 | 2,042 |
| OPM % | 12% | 15% | 12% | 10% | 9% | 11% | 13% | 8% | 9% | 14% | 11% | 13% |
| 22 | 35 | 23 | 21 | 6 | 1 | -11 | 5 | 5 | -17 | 3 | 61 | |
| Interest | 141 | 99 | 87 | 92 | 68 | 152 | 176 | 204 | 239 | 266 | 277 | 359 |
| Depreciation | 88 | 107 | 142 | 162 | 174 | 277 | 340 | 435 | 469 | 508 | 562 | 654 |
| Profit before tax | 443 | 628 | 467 | 410 | 410 | 292 | 459 | 77 | 274 | 865 | 650 | 1,089 |
| Tax % | 32% | 29% | 22% | 32% | 29% | 23% | 10% | 30% | 25% | 24% | 26% | 25% |
| 299 | 445 | 363 | 279 | 289 | 225 | 414 | 54 | 206 | 654 | 482 | 813 | |
| EPS in Rs | 73.91 | 110.06 | 89.67 | 68.90 | 71.42 | 55.53 | 102.26 | 13.43 | 50.99 | 161.75 | 119.18 | 200.92 |
| Dividend Payout % | 14% | 10% | 13% | 17% | 17% | 22% | 18% | 22% | 24% | 19% | 25% | 17% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 15% |
| 3 Years: | 11% |
| TTM: | 16% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 14% |
| 3 Years: | 55% |
| TTM: | 72% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 21% |
| 3 Years: | 22% |
| 1 Year: | -12% |
| Return on Equity | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 12% |
| 3 Years: | 17% |
| Last Year: | 19% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 |
| Reserves | 1,558 | 1,909 | 2,266 | 2,506 | 2,711 | 2,720 | 3,124 | 3,110 | 3,305 | 3,911 | 4,245 | 5,027 |
| 759 | 651 | 775 | 641 | 1,261 | 2,014 | 1,512 | 2,203 | 2,268 | 1,756 | 2,136 | 3,251 | |
| 1,278 | 1,292 | 1,462 | 1,581 | 2,050 | 2,371 | 3,231 | 3,607 | 3,855 | 4,122 | 4,672 | 5,374 | |
| Total Liabilities | 3,636 | 3,893 | 4,543 | 4,769 | 6,062 | 7,146 | 7,907 | 8,961 | 9,469 | 9,828 | 11,094 | 13,692 |
| 1,481 | 1,975 | 2,409 | 2,465 | 2,846 | 4,160 | 4,763 | 5,329 | 6,096 | 6,246 | 6,960 | 7,546 | |
| CWIP | 164 | 213 | 49 | 162 | 749 | 1,002 | 728 | 808 | 537 | 684 | 537 | 589 |
| Investments | 437 | 224 | 259 | 320 | 313 | 111 | 118 | 126 | 130 | 156 | 165 | 493 |
| 1,554 | 1,480 | 1,827 | 1,823 | 2,153 | 1,874 | 2,298 | 2,698 | 2,706 | 2,743 | 3,432 | 5,065 | |
| Total Assets | 3,636 | 3,893 | 4,543 | 4,769 | 6,062 | 7,146 | 7,907 | 8,961 | 9,469 | 9,828 | 11,094 | 13,692 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 705 | 718 | 344 | 744 | 533 | 968 | 1,351 | 632 | 1,215 | 1,724 | 1,083 | 1,840 | |
| -259 | -412 | -419 | -420 | -1,052 | -1,128 | -626 | -950 | -860 | -874 | -935 | -2,318 | |
| -177 | -340 | 78 | -269 | 504 | 126 | -728 | 311 | -318 | -868 | -140 | 470 | |
| Net Cash Flow | 269 | -33 | 3 | 55 | -15 | -34 | -3 | -7 | 37 | -18 | 7 | -9 |
| Free Cash Flow | 442 | 120 | -63 | 341 | -529 | -194 | 709 | -323 | 327 | 858 | 137 | 764 |
| CFO/OP | 124% | 110% | 66% | 131% | 95% | 136% | 142% | 91% | 120% | 114% | 79% | 99% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 44 | 39 | 38 | 42 | 39 | 36 | 44 | 45 | 42 | 39 | 46 | 42 |
| Inventory Days | 68 | 73 | 100 | 72 | 85 | 86 | 96 | 78 | 56 | 60 | 63 | 66 |
| Days Payable | 67 | 74 | 81 | 81 | 91 | 111 | 158 | 131 | 113 | 123 | 122 | 132 |
| Cash Conversion Cycle | 45 | 37 | 57 | 33 | 33 | 11 | -17 | -8 | -15 | -24 | -13 | -25 |
| Working Capital Days | -8 | 14 | 26 | -6 | -8 | -28 | -41 | -42 | -49 | -52 | -51 | -53 |
| ROCE % | 26% | 30% | 20% | 17% | 15% | 11% | 14% | 6% | 10% | 21% | 16% | 21% |
Insights
In beta| Mar 2010 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Number of Dealers count |
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| Number of Sub-dealers count |
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| Retail Format Stores (CEAT Shoppe) count |
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| Total Patent Filings count |
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| Total Production Volume million tyres |
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| Capacity Utilization % |
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| Share of Revenue from High-Growth Segments % |
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| Nagpur Plant Daily Capacity tires per day |
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| Renewable Power Usage % |
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Documents
Announcements
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CEAT Limited Has informed About Loss Of Share Certificates
5 May - CEAT reported loss of share certificates for four folios; duplicate certificates may be issued.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
4 May - Company has informed about Transcript of Earnings Call
- Announcement under Regulation 30 (LODR)-Newspaper Publication 30 Apr
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
29 Apr - CEAT posted the Q4 FY26 earnings call audio recording on April 29, 2026; transcript to follow.
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CEAT Limited Has informed About Loss Of Share Certificates
29 Apr - CEAT reported loss of share certificate for 12 shares; duplicate certificate process initiated.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
from nse
Concalls
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Apr 2026Transcript PPT
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History of CEAT[1]
CEAT was founded in 1924 by Virginio Bruni Tedeschi as Cavi Elettrici e Affini Torino, initially producing electrical and telephone cables. During World War II, it diversified into rubber and began manufacturing tires in 1945. CEAT Tyres of India was established in 1958 in collaboration with the Tatas, setting up its first factory in Mumbai. In 1981, the RPG Group acquired CEAT, India's leading conglomerate with 30,000+ employees, a presence in 110+ countries, and annual gross revenues of USD 4.4 Bn