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CEAT Results: Latest Quarterly Results & Analysis

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Ceat Ltd. 17 Oct 2025 15:22 PM
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Q2FY26 Quarterly Result Announced for Ceat Ltd.

Auto Tyres & Rubber Products company Ceat announced Q2FY26 results

  • Company’s revenue closed at Rs 3,772.7 crore, an increase of 14.2% YoY.
  • EBITDA margin stood at 13.5%
  • Net profit stood at Rs 185.7 crore.

Arnab Banerjee, MD & CEO, CEAT, said: “We have maintained strong double-digit growth this quarter, with revenue rising by approximately 12%. One of the key developments in this quarter has been reduction in GST rates on tyres and vehicles, which we hope will have positive impact on demand across domestic categories. We have also been excited with Camso fully integrating into the CEAT family effective Sept, marking a significant milestone in our global premiumisation strategy. Looking ahead, with a positive growth momentum, we look forward to double-digit growth in the second half of the year.”

On a standalone basis, the Company’s revenue stood at Rs 3,701.1 crore, up 12.2% YoY and EBITDA margin stood at 13.7% and net profit was reported at Rs 202.2 crore.

Kumar Subbiah, CFO, CEAT, said: “Overall, Q2 has been a strong quarter for us, marked by topline growth and expansion of margins. Our debt has increased largely due to acquisition of Camso’s assets and the payout of dividends. Our balance sheet continues to be healthy even after the increase in debt level and well-positioned to provide necessary capital to support future growth.”

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Auto Tyres & Rubber Products company Ceat announced Q1FY26 results

  • Revenue from operations rose 10.5 % YoY to Rs 3,529 crore and 3.2 % QoQ.
  • EBITDA stood at Rs 386 crore; margin slipped 122 bps YoY (-56 bps QoQ) to 10.9 % owing to higher marketing spend and a marginally higher raw-material basket.
  • PAT came in at Rs 112 crore, down 27 % YoY and 13 % QoQ.
  • Gross debt reduced by Rs 115 crore during the quarter to Rs 1,814 crore; Debt/Equity improved to 0.40x and Debt/EBITDA to 1.21x.

Arnab Banerjee, MD & CEO, CEAT Limited, said: "We continue to grow at a strong pace with double-digit growth in top-line, driven by OEM and replacement segments. Looking ahead, we are well poised to ride the premiumisation and electrification trend in domestic market, and renew our growth in international markets with stability in geopolitical situation.”

Kumar Subbiah, CFO, CEAT Limited, said: “Q1 saw strong growth and high-capacity utilisation at all our manufacturing facilities. This growth came on the back of increase in demand from OEM and replacement segments. As Q1 is a marketing heavy quarter with significant marketing costs associated with IPL, operational margins saw a slight dip. Efficient cash flow management helped in gross debt coming down by Rs 100 crore during the quarter.”

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Auto Tyres & Rubber Products company Ceat announced Q4FY25 results

Consolidated Financial Highlights:

  • Revenue Rs 3,420.6 crore compared to Rs 2,991.9 crore during Q4FY24, change 14.3% YoY.
  • EBITDA margin 11.5%, 101 bps QoQ, -189 bps YoY.
  • Net profit stood at Rs 98.7 crore, compared to Rs 102.3 crore during Q4FY24, change -3.5%.

Standalone Financial Highlights:

  • The Company’s revenue stood at Rs 3,413.6 crore compared to Rs 2,979.2 crore during Q4FY24, 14.6% YoY.
  • EBITDA margin stood at 11.6%.
  • Net profit was reported at Rs 100.4 crore compared to Rs 119.1 crore during Q4FY24, change -15,7%.

Arnab Banerjee, MD & CEO, CEAT,, said: “It was a very satisfying top line performance for the quarter and overall, for the year as we managed to deliver a double-digit growth across all key categories and business verticals. We crossed an important milestone of crossing Rs 13,000 crore of revenue during the year. The Replacement segment delivered strong growth consistently during the year and OEM business delivered strong performance in Q4. We managed to deliver improvement in margins in Q4 versus Q3. We look forward to integrating the CAMSO compact construction business with CEAT in the current year.”

Kumar Subbiah, CFO, CEAT, said: “Our operating margins improved in Q4 by over 120 bps, largely driven by favourable revenue mix and result of strong cost controls across the value chain. We incurred capex of Rs 946 crore during the year largely in capacity additions that would prepare us well to deliver our growth plans in FY26. During the quarter, we incurred Rs 37 crore towards voluntary separation of employees in one of our high-cost factories as part of our continuous effort to keep our manufacturing units cost competitive.”

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Auto Tyres & Rubber Products company Ceat announced Q3FY25 results

Standalone Financial Highlights:

  • Company’s revenue stood at Rs 3,291.8 crore, 11.6% YoY.
  • EBITDA margin stood at 10.4%.
  • Net profit was reported at Rs 96.0 crore.

Consolidated Financial Highlights:

  • Company’s revenue closed at Rs 3,299.9 crore, an increase of 11.4% YoY.
  • EBITDA margin stood at 10.5%.
  • Net profit stood at Rs 97.0 crore.

Arnab Banerjee, MD & CEO, CEAT, said: “We witnessed a strong year-on-year double digit growth, driven by the replacement segment. While the rising raw material costs have impacted our margins, we progressively passed on part of the increase through price increase in select categories during the quarter. The demand continues to remain stable, and our order book pipeline is robust across all segments. Raw material prices look flattish in Q4 and we expect growth momentum to continue."

Kumar Subbiah, CFO of CEAT, said: “The gross margins were impacted during the quarter due to the increase in raw material cost. A part of it we managed through price increase and cost controls. Meanwhile, our capex during the quarter was Rs 283 crore, which were fully funded through internal controls and hence, our debt level has remained at similar level.”

Result PDF

Auto Tyres & Rubber Products company Ceat announced Q2FY25 results

Consolidated Fiinancial Highlights:

  • Revenue closed at Rs 3,304.5 crore.
  • EBITDA margin stood at 11.1%.
  • Contraction of 102 bps vs Q1FY25.
  • Net profit stood at Rs 121.5 crore.

Standalone Financial Highlights:

  • Revenue stood at Rs 3,298.1 crore.
  • EBITDA margin stood at 11.1%.
  • Contraction of 93 bps vs Q1FY25.
  • Net profit stood at Rs 136.5 crore.

Arnab Banerjee, MD & CEO, CEAT said: “We are pleased to see that we have successfully carried the momentum from Q1 through Q2. This quarter marks our highest revenue ever, driven largely by robust performances in our Replacement and International sectors. While there’s a significant increase in the commodity prices, our margins got impacted during the quarter. We took selective price increases during the quarter that offset part of the cost impact. The revenue outlook remains positive as we enter Q3.”

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Auto tyres & Rubber products company Ceat announced Q1FY25 results:

Consolidated:

  • On a consolidated basis, the company’s revenue closed at Rs 3,192.8 crore.
  • EBITDA margin stood at 12.2%, a contraction of 124 bps vs Q4FY24.
  • Net profit stood at Rs 154.2 crore.

Standalone:

  • On a standalone basis, the company’s revenue stood at Rs 3,168.2 crore.
  • EBITDA margin stood at 12.0%, a contraction of 121 bps vs Q4FY24.
  • Net profit stood at Rs 149.2 crore.

Commenting on the results as well asthe outlook of the business, Arnab Banerjee, MD & CEO, CEAT, said, "We are encouraged by the strong growth we’ve had in the replacement and export segments across all categories during the quarter. Despite facing margin pressure from significant increases in raw material costs and ocean freight, we are actively mitigating these challenges through strategic price adjustments. Our strategic focus on premiumizing passenger car tyres has begun to yield positive results. Looking ahead, we anticipate continued momentum in volume throughout Q2 and beyond. Additionally, we are front-loading our CAPEX this year to ensure we are well-prepared to meet rising demand."

Kumar Subbiah, CFO of CEAT, said, “We witnessed a good growth of ~8.8% in the topline consolidated YoY basis, largely driven by volumes. The operations margin declined during the quarter, primarily due to an increase in commodity costs and higher marketing spends, while we maintained strong controls over operating and manpower costs, ensuring efficient resource utilization and sustained financial health. We incurred a CAPEX of Rs 254 crore during the quarter, in line with our plan, largely from internal accruals.”

Result PDF

Auto tyres & Rubber products company Ceat announced Q4FY24 results:

Financial Highlights:

  • On a consolidated basis, the Company’s revenue closed at Rs 2,991.9 crore, EBITDA margin stood at 13.4%, a contraction of 97 bps vs Q3FY24. Net profit stood at Rs 102.3 crore. 
  • On a standalone basis, the Company’s revenue stood at Rs 2,979.2 crore and EBITDA margin stood at 13.3%, a contraction of 89 bps vs Q3FY24. Net profit stood at Rs 119.1 crore.

Commenting on the results as well asthe outlook of the business, Arnab Banerjee, MD & CEO, CEAT said, “The company ended the year on a positive note, we saw recovery in volumes in the second half of the quarter in replacement and international markets with stable margins for the quarter and significant improvement in the margins on full year basis and expect the positive momentum in Q1FY25. We have achieved commendable growth, largely attributable to share gain in passenger categories both in 2W and 4W and substantial expansion within the export segment. Overall, our profits & margins grew significantly during the year. The operating margins for the quarter includes additional provision made towards Extended Producers Responsibility (EPR) related requirement imposed on Tyre Industry by the Government of India."

Kumar Subbiah, CFO of CEAT, said, “As part of our continuous effort to bring efficiencies in cashflow, it has helped us reduce our consolidated gross debt by approximately Rs 100 crores in the quarter, supported by improved operational performance. The actual overall capex for the year was close to approx Rs 860 crore in line with our plan that we managed to fund through internal accruals. It has been a gratifying year overall, marked by positive free cash flow, significant reduction in debt, improvement in operating margins and the maintenance of healthy balance sheet leverage ratios.”

Result PDF

Auto Tyres & Rubber Products company Ceat announced Q3FY24 results:

  • On a consolidated basis, revenue closed at Rs 2,963.1 crore, EBITDA margin stood at 14.4%, a contraction of 76 bps vs Q2FY24. Net profit stood at Rs 181.3 crore.
  • On a standalone basis, revenue stood at Rs 2,949.0 crore and EBITDA margin stood at 14.1%, a contraction of 89 bps vs Q2FY24. Net profit stood at Rs 176.7 crore.

Commenting on the results as well as the outlook of the business, Arnab Banerjee, MD & CEO, CEAT, said, “Replacement and International business reflected strong growth on YoY basis. While margins for the quarter were healthy, we witnessed a marginal drop primarily on account of an increase in input cost. With stronger growth in premium segments in the domestic market and recovery in international markets, we expect stronger growth in the forthcoming quarters”.

Kumar Subbiah, CFO, CEAT, said, “Our consistent efforts in improving cost efficiencies and mix are yielding benefits as we ended another quarter with strong operating margins. Our continuous focus on generating healthy cash flows has helped us to fund capex from internal accruals and also in the reduction of gross debt in the quarter by Rs 163 crore. Our Balance Sheet and leverage ratios have strengthened further during the quarter”.

 

 

Result PDF

Auto Tyre and Rubber Products company Ceat announced Q2FY24 results:

1. Financial Performance:
- CEAT's consolidated revenue for Q2FY24 reached Rs 3,053 crore, showing a growth of 4.0% QoQ and 5.5% YoY.
- The company achieved an EBITDA margin of 15.1%, a 202 bps expansion compared to Q1FY24.
- Net profit stood at Rs 208 crore for the quarter.

2. Business Outlook:
- CEAT is experiencing stable demand and witnessing mid-single-digit growth in all three segments - replacement, OEMs, and international business.
- The company's focus on product mix and judicious pricing has helped improve margins during the quarter.
- CEAT's consistent efforts in improving cost efficiencies and mix are yielding benefits, leading to improved margins for the fifth consecutive quarter.

3. Deming Grand Prize:
- CEAT was awarded the prestigious Deming Grand Prize by the Japan Union of Scientists and Engineers (JUSE) during the quarter.
- This recognition highlights CEAT's consistency and continuously improving customer experiences globally.
- CEAT is the only tyre company in the world to have received this recognition in the history of the award.

Commenting on the results as well as the outlook of the business, Arnab Banerjee, MD & CEO, CEAT said, “The demand continues to be stable, and we are witnessing mid-single-digit growth in our topline across all three segments – replacement, OEMs, and international business. Our focus on product mix and judicious pricing helped improve margins during the quarter.

During the quarter, we were delighted to achieve an important global recognition in the form of the Deming Grand Prize awarded by the Japan Union of Scientists and Engineers (JUSE). This points towards consistency and continuously improving experiences by our customers, across the globe. We are the only tyre company in the world to have received this recognition, in the history of this award.”

Kumar Subbiah, CFO of CEAT, said, “For the fifth quarter in succession, we have improved our margins quarter-on-quarter. Our consistent efforts in improving cost efficiencies and mix are yielding benefits. EBITDA Margin has crossed Rs 400 crore for the first time in a quarter leading to healthy improvement in our net profits. We have also managed to bring our standalone debt down by ~Rs 103 crore through efficient management of cash flows and improved operating performance.”

 

Result PDF

Auto Tyres & Rubber Products Company Ceat announced Q1FY24 results:

  • Consolidated Q1FY24:
    • Company’s revenue closed at Rs 2,935 crore
    • EBITDA margin stood at 13.1%
    • Net profit stood at Rs 144 crore.
  • Standalone Q1FY24:
    • Company’s revenue stood at Rs 2,921 crore
    • EBITDA margin stood at 13.2%
    • Net profit stood at Rs 159 crore

Commenting on the results as well as the outlook of the business, Arnab Banerjee, MD & CEO, CEAT said, “Replacement and International business are looking good with good product - market fit. Our product performance continues to get accepted as superior across key geographies. Better sweating of assets, improved efficiencies through digital interventions and otherwise, shall improve margins going forward.”

Kumar Subbiah, CFO of CEAT, said, “During the quarter, we have focused and optimized on operational efficiencies. Our improved product mix and procurement efficiencies have helped improve our gross margins leading to an improvement in our overall margins both sequentially and year-on-year. Our continuous focus on cash has helped us reduce our debt for the second consecutive quarter, and we have seen a reduction in our standalone gross debt by Rs 97 crore.”

 

Result PDF

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