Ceat Limited (CEATLTD) · mywealthgrid

Loading page…

About

Ceat Limited manufactures tyres and rubber products for India's automotive sector, mid-cap with market cap ₹14,939.64 Cr. Quarterly revenues ₹3.7–₹4.3 Cr with recent margin pressure.

Founded: 1924
Face value: ₹10

Market cap

₹13,311 Cr

P/E

22.6×

P/B

2.6×

Dividend yield

ROE

14.8%

ROCE

20.5%

Debt / equity

0.6

OPM

13.1%

EPS (TTM)

₹145.6

Book value

₹1,247.5

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Margin collapse: OPM fell to 8.45–9.13% in Jun 2026 from 13–14% prior quarters; verify whether temporary cost shock or structural demand weakness.
Earnings instability: EPS ranged ₹1.07–₹70.29 across recent quarters; confirm whether one-off items or operational inconsistency.
Valuation risk: PE of 25.37 prices in growth recovery, but margin decline raises earnings recovery questions; verify competitive position and cost recovery timeline.
Cyclicality: Tyre demand depends on vehicle sales and replacement cycles; rubber/steel cost volatility directly impacts margins—verify hedging capability and pricing power.

Generated analysis · source review pending

Growth drivers

OPM recovery from 8.45% (Jun 2026) to 13–14% (prior levels) expands earnings significantly without revenue growth; verify if margin pressure is temporary supply shock.
Revenue held ₹3.7–₹4.3 Cr range despite OPM decline, signaling volume stability; verify whether OEM or replacement demand underlies this.
ROE 14.83% and D/E 0.6 enable capex for growth; verify expansion plans and capacity strategy if sector demand recovers.
Sector-level opportunity in vehicle sales and replacement cycles; verify current automotive cycle phase and whether vehicle SAAR or replacement demand accelerating.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹3,286.6+1.4%1Y

Quick read

rule-based

Pros

+Revenue CAGR of 15.6% over the last 5 years
+Dividend payout of 44.7% of profit

Cons

No red flags triggered.

Research score

Structured signal from quality, growth, valuation and momentum.

57/100

Business quality: 42
Growth: 59
Valuation: 71

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry

Loading peers…

Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	6,985	6,779	7,610	9,363	11,315	11,943	13,218	15,678
COGS	4,182	3,915	4,266	6,028	7,385	6,924	8,232	9,502
Gross profit	2,803	2,864	3,343	3,336	3,929	5,019	4,986	6,176
	2,140	2,123	2,324	2,597	2,947	3,346	3,490	4,113
	663	741	1,019	739	982	1,673	1,496	2,063
OPM %	9.5%	10.9%	13.4%	7.9%	8.7%	14%	11.3%	13.2%
Depreciation	193	277	340	435	469	509	563	697
Interest	88	151	176	207	242	269	278	359
	-6	-9	-20	-2	-16	-38	-12	-31
Profit before tax	376	304	484	95	254	857	643	976
Tax	125	74	52	24	72	221	172	279
Tax %	33.3%	24.4%	10.7%	25.6%	28.2%	25.9%	26.7%	28.6%
	251	230	432	71	182	635	471	697
PAT margin %	3.6%	3.4%	5.7%	0.8%	1.6%	5.3%	3.6%	4.5%
EPS (₹)	62.4	57.2	106.8	17.6	46	158.9	116.9	172.8
EPS adjusted (₹)	—	57.2	106.9	17.5	46	158.9	116.5	172.6
	19.2%	21%	16.9%	17%	26.1%	18.9%	25.7%	20.3%
Annual report	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	40	40	40	40	40	40	40
Reserves	—	3,276	3,232	3,399	4,002	4,328	5,006
Minority interest	—	23	24	17	10	8	8
	—	1,418	2,097	2,093	1,629	1,928	3,011
	—	3,374	3,767	4,078	4,313	4,908	5,837
Total equity & liabilities	—	8,132	9,160	9,628	9,995	11,212	13,902
	4,160	4,763	5,329	6,096	6,271	6,984	8,439
CWIP	—	768	829	569	659	507	598
Investments	—	210	179	170	182	190	222
	—	2,390	2,823	2,794	2,882	3,532	4,643
Total assets	—	8,132	9,160	9,628	9,995	11,212	13,902

Loading financials…

Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	40.1%	42.2%	43.9%	35.6%	34.7%	42%	37.7%	39.4%
EBITDA margin %	9.2%	10.7%	12.9%	7.6%	8.6%	13.8%	11.2%	13.1%
EBIT margin %	6.4%	6.6%	8.5%	2.9%	4.5%	9.6%	6.9%	8.6%
PAT margin %	3.6%	3.4%	5.7%	0.8%	1.6%	5.3%	3.6%	4.5%
Working capital
Receivable days	—	—	44	45	42	39	46	43
Inventory days	—	—	97	79	56	61	63	69
Payable days	—	—	157	131	112	123	121	132
NWC days	—	—	-17	-6	-14	-23	-13	-21
Leverage
Current ratio	—	—	0.74	0.72	0.65	0.62	0.66	0.67
Debt to EBITDA	—	—	1.44	2.95	2.15	0.99	1.31	1.47
Debt to equity	—	—	0.43	0.64	0.61	0.4	0.44	0.6
Interest coverage	5.6	3.1	3.7	1.4	2.2	4.3	3.3	3.9
Asset turnover	—	—	0.94	1.02	1.18	1.2	1.18	1.13
Return ratios
Return on assets %	—	—	5.3%	0.8%	1.9%	6.4%	4.2%	5%
Return on capital employed %	—	—	12.9%	5.4%	9.5%	20.9%	15.9%	20.5%
Return on equity %	—	—	13%	2.2%	5.3%	15.7%	10.8%	13.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

Loading ratios…

Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	47.21%	47.21%	47.21%	47.21%	47.21%	47.21%	47.21%	47.21%	47.21%	47.21%	47.29%	47.29%
	24.1%	19.99%	20.15%	18.76%	16.65%	15.83%	15.27%	17.38%	16.21%	16.92%	16.55%	13.82%
	12.91%	14.3%	15.91%	17.1%	19.74%	20.54%	21.52%	20.08%	21.05%	20.48%	20.89%	22.2%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	15.78%	18.5%	16.73%	16.93%	16.4%	16.42%	16%	15.33%	15.38%	15.12%	15%	16.42%
No. of shareholders	—	—	—	—	—	—	—	—	1,36,233	1,35,290	1,36,374	1,48,990

Promoter holding up 0.08 percentage points since Sep 2023.

5 disclosures

Person	Deal	Shares	Value	Holding	Filed
CEAT Employees Welfare TrustOther	BuyMarket Purchase	10,000	₹3.43 cr	0.01% → 0.01%	6 Oct 20257(2)
CEAT Employees Welfare TrustOther	BuyMarket Purchase	20,000	₹6.79 cr

47 deals · 16 Sept 2022 – 20 Oct 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
20 Oct 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	2,22,339	₹4,051.83	₹90.09 Cr
20 Oct 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	2,22,339	₹4,046.88	₹89.98 Cr
30 Apr 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	2,76,176	₹3,290.20	₹90.87 Cr
30 Apr 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	2,76,176	₹3,288.23	₹90.81 Cr
12 Dec 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	2,20,787	₹3,254.91	₹71.86 Cr
12 Dec 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	2,20,787	₹3,254.10	₹71.85 Cr
9 Dec 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	3,51,461	₹3,415.34	₹120.04 Cr
9 Dec 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	3,51,461	₹3,412.78	₹119.95 Cr
9 Dec 2024	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	2,99,151	₹3,451.51	₹103.25 Cr
9 Dec 2024	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	2,99,151	₹3,449.74	₹103.20 Cr

1–10 of 47

1 / 5

Mr. Harsh Vardhan GoenkaNon-Executive - Non Independent Director-Chairperson related to Promoter
Mr. Kumar SubbiahChief Financial Officer
Mr. Anant Vardhan GoenkaNon-Executive - Non Independent Director
Mr. Arnab BanerjeeExecutive Director-CEO-MD
Mr. Pierre Eric CohadeNon-Executive - Non Independent Director
Mr. Milind Shripad SarwateNon-Executive - Independent Director
Ms. Sukanya Anand KripaluNon-Executive - Independent Director
Ms. Daisy Devassy ChittilapillyNon-Executive - Independent Director
Mr. Santrupt MisraNon-Executive - Independent Director
Mr. Apurva ChandraNon-Executive - Independent Director
Mr. Paras Kumar ChowdharyNon-Executive - Non Independent Director

Loading shareholding…

F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

Loading f&o…

Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 9 fund houses

Held by these funds

2.36%

of the company's equity

All mutual funds

17.48%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

28 schemes · 9 fund houses

		Shares
VALUE FUND	Tata Mutual Fund	4.36 L	149.09	1.72%	1.077%	-23,013
Multi Cap FundNEW	ICICI Prudential Mutual Fund	4.16 L	142.3	0.73%	1.027%	—
Nifty Smallcap 250 Index Fund	Nippon India Mutual Fund	33,341	11.4	0.32%	0.082%	+408
Nifty Smallcap 250 Index Fund	SBI Mutual Fund	16,944	5.79	0.32%	0.042%	+188
IB60-Groww Small Cap Fund	Groww Mutual Fund	16,386	5.6	0.73%	0.04%	+5,100
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	12,283	4.2	0.32%	0.03%	+111
Nifty Smallcap 250 Index Fund	ICICI Prudential Mutual Fund	7,465	2.55	0.32%	0.018%	+143
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	3,335	1.14	0.04%	0.008%	+114

1–8 of 28

1 / 4

Loading fund holders…

Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results14 Oct 2026 · in 13 daysresults

19

Final dividend31 Jul 2026 · ex-date₹35
Final dividend8 Aug 2025 · ex-date₹30
Dividend dividend9 Aug 2024 · ex-date₹30
Final dividend20 Jun 2023 · ex-date₹12
Final dividend10 Jun 2022 · ex-date₹3
Final dividend27 Aug 2021 · ex-date₹18
Interim dividend19 Mar 2020 · ex-date₹12
Final dividend18 Jul 2019 · ex-date₹12
Dividend dividend10 Jul 2018 · ex-date₹11.5
Dividend dividend28 Jul 2017 · ex-date₹11.5
Interim dividend22 Mar 2016 · ex-date₹11.5
Dividend dividend3 Aug 2015 · ex-date₹10
Dividend dividend17 Sept 2014 · ex-date₹10
Dividend dividend12 Aug 2013 · ex-date₹4
Dividend dividend25 Jul 2012 · ex-date₹1
Dividend dividend10 Aug 2011 · ex-date₹2
Dividend dividend14 Jul 2010 · ex-date₹4
Dividend dividend9 Jul 2008 · ex-date₹4
Dividend dividend11 Jul 2007 · ex-date₹1.8

2

Board meeting to consider results14 Oct 2026
Board meeting to consider results16 Jul 2026

Loading events…

Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

57 announcementsExport CSV

30 Sept 2026, 5:38 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet

Loading announcements…

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	40.1%	42.2%	43.9%	35.6%	34.7%	42%	37.7%	39.4%
EBITDA margin %	9.2%	10.7%	12.9%	7.6%	8.6%	13.8%	11.2%	13.1%
EBIT margin %	6.4%	6.6%	8.5%	2.9%	4.5%	9.6%	6.9%	8.6%
PAT margin %	3.6%	3.4%	5.7%	0.8%	1.6%	5.3%	3.6%	4.5%
Working capital
Receivable days	—	—	44	45	42	39	46	43
Inventory days	—	—	97	79	56	61	63	69
Payable days	—	—	157	131	112	123	121	132
NWC days	—	—	-17	-6	-14	-23	-13	-21
Leverage
Current ratio	—	—	0.74	0.72	0.65	0.62	0.66	0.67
Debt to EBITDA	—	—	1.44	2.95	2.15	0.99	1.31	1.47
Debt to equity	—	—	0.43	0.64	0.61	0.4	0.44	0.6
Interest coverage	5.6	3.1	3.7	1.4	2.2	4.3	3.3	3.9
Asset turnover	—	—	0.94	1.02	1.18	1.2	1.18	1.13
Return ratios
Return on assets %	—	—	5.3%	0.8%	1.9%	6.4%	4.2%	5%
Return on capital employed %	—	—	12.9%	5.4%	9.5%	20.9%	15.9%	20.5%
Return on equity %	—	—	13%	2.2%	5.3%	15.7%	10.8%	13.8%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Mrf LimitedMRFMRF	₹51,960 Cr	₹54,327 Cr	₹31,889 Cr	₹4,821 Cr	15.7%	₹2,415 Cr	7.8%	16.8%	12.3%	83
Balkrishna Industries LimitedBALKRISINDBALKRISIND	₹40,274 Cr	₹44,380 Cr	₹11,518 Cr	₹2,539 Cr	21.3%	₹1,406 Cr	11.5%	14.8%	8.2%	111
Apollo Tyres LimitedAPOLLOTYREAPOLLOTYRE	₹25,706 Cr	₹28,337 Cr	₹29,308 Cr	₹4,143 Cr	14.6%	₹1,708 Cr	4.8%	13.3%	8.7%	93
Ceat LimitedCEATLTDCEATLTD	₹13,311 Cr	₹16,322 Cr	₹16,467 Cr	₹2,024 Cr	13.1%	₹589 Cr	4.5%	20.5%	14.8%	-21
Jk Tyre & Industries LimitedJKTYREJKTYRE	₹9,812 Cr	₹14,558 Cr	₹16,404 Cr	₹1,887 Cr	12.4%	₹651 Cr	4.8%	16.8%	14.2%	90
Tvs Srichakra LimitedTVSSRICHAKTVSSRICHAK	₹3,349 Cr	₹4,111 Cr	₹3,892 Cr	₹312 Cr	7.7%	₹85 Cr	2%	9.2%	1.7%	77
Goodyear India LimitedGOODYEARGOODYEAR	₹1,604 Cr	₹1,604 Cr	₹1,792 Cr	₹217 Cr	4.5%	₹136 Cr	2.1%	12.5%	9.3%	6
Megamont LtdMEGAMONTMEGAMONT	₹562 Cr	₹565 Cr	₹0 Cr	₹0 Cr	—	₹-0 Cr	—	-1.8%	-3.2%	—
Tolins Tyres LimitedTOLINSTOLINS	₹334 Cr	₹345 Cr	₹317 Cr	₹43 Cr	14.6%	₹33 Cr	10.9%	13.5%	10.4%	400
Modi Rubber LimitedMODIRUBBERMODIRUBBER	₹299 Cr	₹319 Cr	₹35 Cr	₹-26 Cr	-75.8%	₹0 Cr	1.9%	-2.2%	0.1%	-904
Indag Rubber LtdINDAGINDAG	₹277 Cr	₹287 Cr	₹215 Cr	₹9 Cr	4.1%	₹10 Cr	3.8%	5%	4.4%	112
Dolfin Rubbers LtdDOLFINDOLFIN	₹173 Cr	₹192 Cr	₹144 Cr	₹9 Cr	5.3%	₹5 Cr	3.3%	16.8%	16.5%	122

Date	Category	Subject	Filing
30 Sept 2026, 5:38 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
30 Sept 2026, 4:11 pm	Company Update General	CEAT Limited Has Informed The Exchange About Issue Of Duplicate Share Certificates	PDF
29 Sept 2026, 4:22 pm	Company Update General	CEAT Limited Has Informed The Exchange About Loss Of Share Certificates	PDF
22 Sept 2026, 2:46 pm	Company Update General	CEAT Limited Has Informed The Exchange About Loss Of Share Certificate(S).	PDF
15 Sept 2026, 11:45 am	Company Update General	ESG Score	PDF
10 Sept 2026, 5:49 pm	Company Update General	CEAT Limited Has Informed The Exchange About Loss Of Share Certificates	PDF
10 Sept 2026, 5:36 pm	Company Update General	General Updates	PDF
4 Sept 2026, 7:41 pm	Company Update General	General Update	PDF

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,358	619	1,205	1,719	1,092	1,786
	-618	-944	-849	-854	-922	-2,271
	-731	313	-320	-871	-177	477
Net cash flow	9	-12	37	-5	-7	-8
Free cash flow	718	-340	326	852	149	-481
CFO / Operating profit %	138.1%	87.2%	123.8%	104.1%	74.1%	87.2%

Ceat Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

1

19

2

Announcements

1

19

2

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Compounded sales growth

Compounded profit growth

Return on equity

Ceat Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Upcoming and recent1

Dividends19

Board meetings2

Announcements

Upcoming and recent1

Dividends19

Board meetings2

Ratio timeline

Not in the F&O segment

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

1

19

2

1

19

2