CEAT Ltd

CEAT Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

CEAT Ltd

₹ 3,332 8.87%
30 Apr - close price
ceat.com BSE: 500878 NSE: CEATLTD
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

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

Website BSE NSE
  • Market Cap ₹ 13,474 Cr.
  • Current Price ₹ 3,332
  • High / Low ₹ 3,581 / 2,210
  • Stock P/E 27.3
  • Book Value ₹ 1,080
  • Dividend Yield 0.90 %
  • ROCE 15.0 %
  • ROE 11.7 %
  • Face Value ₹ 10.0
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Pros

  • Company has been maintaining a healthy dividend payout of 23.5%

Cons

  • Stock is trading at 3.09 times its book value
  • Company has a low return on equity of 12.2% over last 3 years.

* 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.

Peer comparison

Sector: Tyres Industry: Tyres

Part of Nifty 500 BSE Allcap BSE 500 BSE Consumer Discretionary BSE SmallCap

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
2,592 2,818 2,894 2,727 2,875 2,935 3,053 2,963 2,992 3,193 3,305 3,300 3,421
2,404 2,653 2,691 2,490 2,507 2,548 2,597 2,546 2,600 2,810 2,942 2,959 3,033
Operating Profit 188 165 203 238 368 387 456 418 392 383 362 341 388
OPM % 7% 6% 7% 9% 13% 13% 15% 14% 13% 12% 11% 10% 11%
-3 2 -14 2 -6 3 10 3 -55 14 3 3 -33
Interest 57 52 58 66 67 70 72 66 62 62 66 75 74
Depreciation 110 111 115 117 125 121 124 127 136 132 137 141 152
Profit before tax 19 4 16 56 170 199 270 228 139 203 162 128 129
Tax % 5% 31% 65% 27% 27% 27% 25% 24% 33% 27% 29% 28% 28%
25 9 6 35 132 144 208 181 102 154 121 97 99
EPS in Rs 6.24 2.29 1.94 8.75 33.05 35.75 51.42 44.87 26.84 38.11 30.13 24.01 24.60
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
5,464 5,705 5,484 5,766 6,282 6,985 6,779 7,610 9,363 11,315 11,943 13,218
4,790 5,013 4,694 5,096 5,652 6,332 6,052 6,617 8,643 10,341 10,291 11,744
Operating Profit 673 692 789 670 630 652 727 993 721 974 1,653 1,474
OPM % 12% 12% 14% 12% 10% 9% 11% 13% 8% 9% 14% 11%
3 16 7 28 9 10 8 10 17 -8 -18 -12
Interest 187 142 101 90 104 93 154 179 207 242 269 278
Depreciation 87 93 108 143 169 193 277 340 435 469 509 563
Profit before tax 403 472 587 466 367 376 304 484 95 254 857 622
Tax % 33% 33% 32% 23% 36% 33% 24% 11% 26% 28% 26% 28%
271 314 436 359 233 251 230 432 71 182 635 471
EPS in Rs 75.44 78.41 108.17 89.28 58.83 62.35 57.17 106.81 17.60 46.02 158.87 116.85
Dividend Payout % 13% 13% 11% 13% 20% 19% 21% 17% 17% 26% 19% 26%
Compounded Sales Growth
10 Years: 9%
5 Years: 14%
3 Years: 12%
TTM: 11%
Compounded Profit Growth
10 Years: 4%
5 Years: 15%
3 Years: 80%
TTM: -27%
Stock Price CAGR
10 Years: 16%
5 Years: 33%
3 Years: 44%
1 Year: 30%
Return on Equity
10 Years: 12%
5 Years: 11%
3 Years: 12%
Last Year: 12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 36 40 40 40 40 40 40 40 40 40 40 40
Reserves 993 1,642 2,014 2,374 2,566 2,726 2,867 3,276 3,232 3,399 4,002 4,328
1,174 775 663 924 872 1,498 2,035 1,533 2,229 2,295 1,792 2,136
1,338 1,365 1,390 1,578 1,669 2,140 2,423 3,284 3,658 3,891 4,160 4,707
Total Liabilities 3,540 3,822 4,108 4,917 5,146 6,404 7,366 8,133 9,160 9,627 9,994 11,212
1,565 1,581 2,032 2,453 2,709 3,180 4,160 4,763 5,329 6,096 6,271 7,015
CWIP 82 229 299 326 310 833 1,069 793 876 596 684 507
Investments 0 312 195 232 214 181 184 210 179 170 182 190
1,893 1,700 1,581 1,907 1,914 2,210 1,954 2,367 2,775 2,765 2,858 3,501
Total Assets 3,540 3,822 4,108 4,917 5,146 6,404 7,366 8,133 9,160 9,627 9,994 11,212

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
197 749 702 335 672 561 956 1,358 619 1,205 1,719 1,092
-142 -253 -433 -543 -412 -1,060 -1,076 -618 -944 -849 -854 -922
-40 -194 -326 219 -202 484 79 -731 313 -320 -871 -177
Net Cash Flow 15 301 -57 10 58 -15 -40 9 -12 37 -5 -7

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 50 45 40 39 43 37 36 44 45 42 39 46
Inventory Days 77 70 76 101 75 88 88 97 79 56 61 63
Days Payable 71 68 75 81 83 92 111 157 131 112 123 122
Cash Conversion Cycle 57 47 40 59 35 33 12 -16 -6 -14 -23 -13
Working Capital Days 21 10 13 25 3 1 -12 -35 -25 -26 -28 -20
ROCE % 30% 26% 27% 19% 15% 13% 10% 14% 6% 9% 20% 15%

Shareholding Pattern

Numbers in percentages

Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
47.21% 47.21% 47.21% 47.21% 47.21% 47.21% 47.21% 47.21% 47.21% 47.21% 47.21% 47.21%
22.45% 23.78% 24.09% 23.30% 26.20% 24.10% 19.99% 20.16% 18.76% 16.65% 15.83% 15.28%
11.15% 11.72% 12.92% 13.60% 12.20% 12.92% 14.29% 15.91% 17.09% 19.75% 20.54% 21.52%
19.20% 17.29% 15.79% 15.90% 14.40% 15.79% 18.50% 16.73% 16.93% 16.39% 16.41% 15.99%
No. of Shareholders 1,33,4301,04,01693,40194,23291,3641,05,8751,16,5091,14,3971,38,3151,43,0631,56,3331,57,285

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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