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Company details

6M Return 18.12%
1Y Return 24.75%
Mkt Cap.(Cr) 9,395.93
Volume 512,177
Div Yield 0.52%
OI Chg %
Volume 512,177

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About The Stock

    CEAT, part of RPG group is one of the India’s most reputable tyre manufacturers established in 1958. It has prominent presence in India as well as in key international markets with 7 manufacturing plants & 51,000+ sales touchpoints.

    • FY22 Channel Mix: Auto OEMs: 24%; Replacement: 56%; Exports: 20%  
    • FY22 Segment Mix: PV: 18%; CV: 40%; Farm & OHT: 14%; 2W: 28%
    • It is presently operating at ~80% capacity utilization levels
    • It has ~4,600+ dealers, 380+ CEAT exclusives, presence in >110 countries
Management Meet Highlights
    • Domestically, company is witnessing healthy demand traction from the OEM’s front with replacement demand being steady in nature. Robust demand is particularly being witnesses in the PV space with chip supply issue easing while steady MoM improvement is seen in the CV space
    • On the exports front, demand in Europe & Indonesia is muted amid negative economic scenario. Sri-Lanka on the other hand is witnessing 50-60% decline in volumes with CEAT earning steady margins (unchanged).
    • On Margins front company expects Q2FY23 to be on similar lines as Q1FY23 with recovery seen from Q3FY22 onwards. Overall company aims to achieve ~10%-12% operating margins over medium term. Replacement market business remains more lucrative in terms of margin than the OEM.
    • Over past 3 years’ company has expensed ~₹3,300 crores out of planned ~₹4,000 capex w.r.t capacity building across Chennai and Ambernath plant. Capex for FY23E is planned at ~₹900 crores while the same for FY24E is seen at ~₹ 700 crore, with peak revenue potential pegged at ₹13,000 crore.
    • Company remains committed towards keeping Debt/EBITDA at <3x.

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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

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Operating Profit
Profit after Tax
Reserves and Surplus
Operating Profit
Profit after Tax



Equity Capital: 3,439.64 Cr FV: 10.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 21,819.21 39,849.27
LAST 3M 59,182.99 17,912.96
LAST 6M 101,166.54 92,564.27
LAST 12M 166,925.45 138,096.90

CEAT Ltd Information

Stock PE (TTM)
Promoter Holding
Book Value
  • CEAT Ltd is in the Tyres sector is having a Market Capitalization worth Rs. 5,173.35 crores, it is incorporated in the year 1958. It has reported consolidated sales of Rs. 2,289.72 crores in March’2021. The company is listed on the Bombay Stock Exchange (BSE) with the code 500878, and also listed on the National Stock Exchange (NSE) with the code CEATLTD.

    CEAT Ltd is an Indian international company engaged in the business of manufacturing and marketing tyres. It comes under the ownership of the RPG group. It manufactures tyres for passenger cars, trucks & buses, two-wheelers, forklifts, tractors, auto-rickshaws. It was originally formed in 1924, under the name of Cavi Elettrici e Affini Torino (meaning Electrical Cables and Allied Products of Torino) in Turin, Italy. CEAT Ltd entered the Indian markets in 1958. CEAT Ltd has a total of four subsidiaries namely, CEAT Specialty Tyres Limited Mumbai (CSTL), Rado Tyres Limited Kochi (RTL), Associated CEAT Holdings Company (Private) Limited (in Colombo Sri Lanka), CEAT AKKhan Limited (in Dhaka Bangladesh). CEAT Ltd has one joint venture and entered into a joint venture named CEAT Kelani Holdings Company (Pvt.) Ltd. The promoters of the company own 46.82% of the stake in the company, Foreign Institutional Investors (FII) own 24.01%, Domestic Institutional Investors (DII) own 13.64% stake in the company, and others (such as public & retail investors) hold the balance of 15.53%.

    In June 2021, quarterly net revenue was Rs. 1,897.76 crores, which has increased sharply by approximately 70.03 % from Rs. 1,116.15 crores for the April-June 2020 quarter. The quarterly net profit in June 2021 was Rs. 19.95 crores, which has improved sharply and increased by nearly 177.03% from a net loss of Rs. 25.9 crores in June 2020. In June 2021, the reported operating profit was at Rs. 1,508.46 crores, which is also increased by 65.10% as compared to an operating profit of Rs. 913.67 crores for the quarter ending in June 2020. From a negative EPS of Rs. 6.4 in June 2020, the EPS of CEAT Ltd has improved and reached a positive EPS of Rs. 4.93 per share in June 2021. CEATLTD's stock closed at Rs. 1,278.95 on 25th August’2021 (NSE). CEAT Ltd has given a negative return of 19.02% in the last six months and returned 45.29% positively in the previous year.

Registered Address

463 Dr Annie Besant Road, Worli, Mumbai, Maharashtra, 400030

Tel : 91-22-24930621
Email : investors:ceat.in
Website : http://www.ceattyres.in

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AGM Date (Month) : Jul
Face Value Equity Shares : 10
Market Lot Equity Shares : 1
BSE Code : 500878
Book Closure Date (Month) :
BSE Group : A
ISIN : INE482A01020

FAQ’s on CEAT Ltd Shares

You can buy CEAT Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy CEAT Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Dec 08, 2023 04:05 PM the closing price of CEAT Ltd was ₹ 2,322.85.

Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Dec 08, 2023 04:05 PM, the market cap of CEAT Ltd stood at ₹ 9,395.93.

The latest PE ratio of CEAT Ltd as of Dec 08, 2023 04:05 PM is 17.8

The latest PB ratio of CEAT Ltd as of Dec 08, 2023 04:05 PM is 0.40

The 52-week high of CEAT Ltd is ₹ 2,642.00 while the 52-week low is ₹ 1,357.00

According to analyst recommendations, CEAT Ltd has a “Buy” rating for the long term.

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