CEAT Ltd
₹ 3,295
1.06%
12 Oct
3:50 p.m.
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 ₹ 13,328 Cr.
- Current Price ₹ 3,295
- High / Low ₹ 4,438 / 3,061
- Stock P/E 16.0
- Book Value ₹ 1,253
- Dividend Yield 1.06 %
- ROCE 20.8 %
- ROE 18.8 %
- 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
Upcoming result date: 14 October 2026
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 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 5,504 | 5,451 | 5,702 | 6,213 | 6,831 | 6,748 | 7,573 | 9,313 | 11,263 | 11,893 | 13,172 | 15,215 | 15,857 | |
| 4,855 | 4,651 | 5,029 | 5,571 | 6,186 | 6,027 | 6,588 | 8,601 | 10,286 | 10,237 | 11,684 | 13,156 | 13,826 | |
| Operating Profit | 649 | 799 | 673 | 642 | 646 | 720 | 985 | 712 | 977 | 1,656 | 1,487 | 2,059 | 2,031 |
| OPM % | 12% | 15% | 12% | 10% | 9% | 11% | 13% | 8% | 9% | 14% | 11% | 14% | 13% |
| 22 | 35 | 23 | 21 | 6 | 1 | -11 | 5 | 5 | -17 | 3 | 44 | 52 | |
| Interest | 141 | 99 | 87 | 92 | 68 | 152 | 176 | 204 | 239 | 266 | 277 | 359 | 373 |
| Depreciation | 88 | 107 | 142 | 162 | 174 | 277 | 340 | 435 | 469 | 508 | 562 | 654 | 671 |
| Profit before tax | 443 | 628 | 467 | 410 | 410 | 292 | 459 | 77 | 274 | 865 | 650 | 1,089 | 1,040 |
| 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 | 775 | |
| 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 | 191.54 |
| 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: | 17% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 14% |
| 3 Years: | 56% |
| TTM: | 67% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 19% |
| 3 Years: | 15% |
| 1 Year: | -8% |
| Return on Equity | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 13% |
| 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 | 7,507 | |
| CWIP | 164 | 213 | 49 | 162 | 749 | 1,002 | 728 | 808 | 537 | 684 | 537 | 629 |
| 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% | 98% |
Ratios
Standalone / 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 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Channel Mix - Exports % of revenue |
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| Total Production million tyres |
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| Revenue Mix - Truck & Bus % of revenue |
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| Revenue Mix - 2/3 Wheelers % of revenue |
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| Revenue Mix - PC/UV % of revenue |
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| Revenue Mix - Off Highway Tires (OHT) % of revenue |
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| 2W Tyre Market Share % |
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| PV Tyre Market Share % |
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| R&D Expenditure (Percentage of Turnover) % |
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Documents
Announcements
- Newspaper Publication
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
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CEAT Limited Has informed About Loss Of Share Certificates
- CEAT reported loss of share certificates for two holders; duplicate certificates to be issued.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- Pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, and any other applicable provisions, please note the schedule of earnings intimation.
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CEAT Limited Has informed About Issue Of Duplicate Share Certificates
- CEAT reports duplicate share certificates issued for five folios on 29 September 2026.
Annual reports
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Annual Report 2026
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Annual Report 2025
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Annual Report 2024
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Annual Report 2023
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Annual Report 2022
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Annual Report 2021
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Annual Report 2020
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Annual Report 2019
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Annual Report 2018
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Annual Report 2017
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Annual Report 2016
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Annual Report 2015
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Annual Report 2014
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Annual Report 2013
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Annual Report 2012
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Concalls
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Jul 2026Transcript PPT REC
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May 2026PPT
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Apr 2026Transcript PPT
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Jan 2026Transcript PPT REC
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Oct 2025Transcript PPT
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Jul 2025Transcript PPT REC
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Jun 2025PPT
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Apr 2025Transcript PPT REC
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Jan 2025Transcript PPT
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Jan 2025PPT
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Oct 2024Transcript PPT
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Jul 2024Transcript PPT
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Jun 2024PPT
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May 2024Transcript PPT REC
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Jan 2024Transcript PPT
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Nov 2023PPT
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Nov 2023PPT
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Nov 2023Transcript PPT
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Oct 2023PPT
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Aug 2023Transcript PPT
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Jul 2023PPT
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May 2023Transcript PPT REC
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Feb 2023PPT
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Jan 2023PPT
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Nov 2022PPT
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Sep 2022PPT
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Sep 2022PPT
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Aug 2022PPT
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Jul 2022PPT
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Jun 2022PPT
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Mar 2022PPT
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Feb 2022Transcript PPT
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Nov 2021Transcript PPT
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Feb 2016PPT
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