Don’t Trade in the Dark—Get Your Pre-Market Report Every Day.Join Now
Search stocks
CEAT Ltd

| Audited Standalone Financial Results for the Quarter and Year Ended March 31, 2026

Report Source

⬤28th Apr 26

Summary : CEAT Limited reported robust FY26 growth, crossing Rs. 15,000 crore revenue with highest-ever profit, driven by market share gains and strategic acquisition, while addressing raw material costs and supply chain challenges.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Detailed breakdown of cost of materials, employee benefits, finance costs, depreciation, other expenses.
  2. Consolidated Revenue Q4 FY26: Rs. 4,219 crore (up 23% Y-o-Y).
  3. Consolidated Revenue FY26: Rs. 15,678 crore (up 18.6% Y-o-Y).
  4. Standalone Revenue Q4 FY26: Rs. 4,036 crore (up 18% Y-o-Y).
  5. Consolidated Net cash flow from operating activities FY26: Rs. 178,555 lakhs.
  6. Consolidated Net cash flow used in investing activities FY26: Rs. (227,060) lakhs.
  7. Consolidated Net cash flow generated from financing activities FY26: Rs. 47,664 lakhs.
  8. Consolidated Total Assets FY26: Rs. 1,390,224 lakhs.
  9. Consolidated Total Equity FY26: Rs. 505,403 lakhs.
  10. Standalone Total Assets FY26: Rs. 1,369,244 lakhs.
  11. Standalone Total Equity FY26: Rs. 506,702 lakhs.
  12. Both standalone and consolidated financial results are presented and audited.

Corporate Overview

  1. Strong presence in global markets.
  2. Acquisition of Camso brand's Off-Highway business (global reach).
  3. Subsidiaries and joint ventures across various countries.
  4. Short-term challenges on supply chain and costs.
  5. Steep increase in raw material costs.
  6. Geopolitical tensions impacting international business.
  7. Leading Indian tyre manufacturer with global presence.
  8. Produces over 41 million high-performance tyres annually.
  9. Caters to 2-3 Wheelers, Passenger, Utility, Commercial, Off-Highway Vehicles.
  10. Bullish on robust growth in top and bottom line.
  11. Positive about market share gains in replacement and OEMS.
  12. Confident in strong balance sheet and healthy leverage ratios.
  13. Committed to delivering sustained shareholder value.
  14. OEMs (Original Equipment Manufacturers)
  15. Replacement market
  16. Consumers of 2-3 Wheelers, Passenger, Utility, Commercial, Off-Highway Vehicles
  17. 2-3 Wheelers
  18. Passenger Vehicles
  19. Utility Vehicles
  20. Commercial Vehicles
  21. Off-Highway Vehicles
  22. Produces more than 41 million high-performance tyres.
  23. Intends to continue expanding capacities in line with growth plans.
  24. Plans to avail credit facility of up to Rs. 1,000 crores for business purposes.

Risk Factors

  1. Short-term supply chain challenges persist.
  2. Rising raw material costs impact margins.
  3. Geopolitical tensions affect international business.
  4. New Labour Codes create obligations.

Key Drivers

  1. Strong revenue and profit growth.
  2. Increased market share in key segments.
  3. Successful acquisition of Camso business.
  4. Recommended 350% dividend for shareholders.

Auditor’s Report

  1. Unmodified opinion on standalone and consolidated financial results.
  2. Standalone results include audited financial information of one Trust.
  3. Standalone results include balancing figures for quarter ended March 2026.
  4. Consolidated results include audited financial information of seven subsidiaries and one Trust.
  5. Consolidated results include unaudited financial results of six subsidiaries.

Board Commentary

  1. Continuation of Mr. Paras Kumar Choudhary as Non-Executive, Non-Independent Director.
  2. Recommended dividend of Rs. 35/- (350%) per equity share for FY 2025-26.
  3. Subject to approval by shareholders at the Annual General Meeting.
  4. Amendment to Code of Fair Disclosure and Insider Trading Policy.
  5. Impact of new Labour Codes on estimated employee obligations.
  6. Intends to avail credit facility of up to Rs. 1,000 crores for business purposes.
  7. Acquisition of Camso brand's Off-Highway business for $225 Mn.
  8. Additional investments in subsidiaries like TYRESNMORE Online Private Limited.

Corporate Governance

  1. Amended Code of Fair Disclosure and Insider Trading Policy available online.
  2. Mr. Paras Kumar Choudhary continues as Non-Independent Director.
  3. He is not related to other directors or KMP.
  4. Nomination and Remuneration Committee recommended director continuation.
  5. Audit Committee reviewed financial results.

Management Discussion & Analysis

Future Strategy

  1. Mitigate raw material cost increases through pricing and strong cost management.
  2. Continue expanding capacities in line with growth plans.
  3. Strengthen cash flows and disciplined capital allocation.

Macroeconomic Outlook

  1. Geopolitical tensions noted as a factor impacting international business.

Operational Focus Areas

  1. Mitigating steep raw material cost increases.
  2. Expanding capacities to support growth.
  3. Strengthening cash flows and capital allocation.

Performance Drivers

  1. Robust growth in top line and bottom line.
  2. Market share gains in replacement and OEMS segments.
  3. Sharper focus on operating efficiencies, scale, and disciplined cost management.
  4. Successful closure of Camso acquisition deal.

Risk Control Measures

  1. Mitigating cost increases through pricing and strong cost management.

Critical Risks

  1. Short-term challenges in supply chain and costs.
  2. Steep increase in raw material costs.
  3. Geopolitical tensions affecting international business.