Ceat Ltd.

CEATLTDConsumer Discretionary filings

We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.

Earnings calls

21 transcript(s)/analyst meet(s) served; 20 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 21 documents here); elsewhere sentences render unattributed.

Kind	Date	Period	Served
COVER_LETTER	20210728	2021-06-30	no
COVER_LETTER	20211105	2021-09-30	no
COVER_LETTER	20220126	2021-12-31	no
COVER_LETTER	20220512	2022-03-31	no
COVER_LETTER	20220727	2022-06-30	no
COVER_LETTER	20221114	2022-09-30	no
COVER_LETTER	20230130	2022-12-31	no
COVER_LETTER	20230511	2023-03-31	no
COVER_LETTER	20230801	2023-06-30	no
COVER_LETTER	20231022	2023-09-30	no
COVER_LETTER	20240130	2023-12-31	no
COVER_LETTER	20240509	2024-03-31	no
TRANSCRIPT	20240725	2024-06-30	yes
COVER_LETTER	20241023	2024-09-30	no
COVER_LETTER	20250121	2024-12-31	no
COVER_LETTER	20250506	2025-03-31	no
COVER_LETTER	20250722	2025-06-30	no
COVER_LETTER	20251023	2025-09-30	no
COVER_LETTER	20260122	2025-12-31	no
COVER_LETTER	20260504	2026-03-31	no
COVER_LETTER	20260720	2026-06-30	no

CEATLTD

files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.

Identity


Statement division	general
Scope served	consolidated
Panels on this page	4

Market

No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.


Last close	3,353.80
52-week range	3106.1 – 4302.7
Return 1M	-5.07%
Return 3M	-3.9%
Return 1Y	-2.93%
Return 3Y	56.24%
Return 5Y	154.58%
Market capitalisation	not shown — we could not confirm it
Shares outstanding	not shown — we could not confirm it
P/E	not shown — we could not confirm it
P/B	not shown — we could not confirm it
EV/EBITDA	not shown — we could not confirm it

Latest quarter filed — period ending 2026-06-30

In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.


Revenue from operations	4,318.00
Other income	6.00
Total income	4,324.00
Cost of materials consumed	2,978.00
Purchases of stock-in-trade	56.00
Changes in inventories	-180.00
Employee benefit expense	296.00
Finance costs	146.00

Ownership — 2026-06-30, and the change from 2026-03-31

Holder	Per cent	Change
promoter and promoter group	0.47	0.00
institutions foreign	0.14	-0.03
institutions domestic	0.22	0.01
mutual funds	0.17	-0.00
public	0.52	0.00

Documents on file

Class	Most recent	On file
COVER_LETTER	2026-06-30	20
TRANSCRIPT	2024-06-30	1

Financial statements

Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.

Quarterly results, as filed

Line	2022-09-30	2022-12-31	2023-03-31	2023-06-30	2023-09-30	2023-12-31	2024-03-31	2024-06-30	2024-09-30	2024-12-31	2025-03-31	2025-06-30	2025-09-30	2025-12-31	2026-03-31	2026-06-30
Revenue from operations	2,894.00	2,727.00	2,875.00	2,935.00	3,053.00	2,963.00	2,992.00	3,193.00	3,305.00	3,300.00	3,421.00	3,529.00	3,773.00	4,157.00	4,219.00	4,318.00
Other income	10.00	2.00	2.00	3.00	10.00	3.00	3.00	6.00	3.00	3.00	5.00	5.00	4.00	6.00	26.00	6.00
Total income	2,904.00	2,729.00	2,877.00	2,938.00	3,064.00	2,966.00	2,995.00	3,199.00	3,308.00	3,303.00	3,425.00	3,534.00	3,777.00	4,163.00	4,245.00	4,324.00
Cost of materials consumed	2,002.00	1,650.00	1,661.00	1,746.00	1,730.00	1,695.00	1,753.00	1,911.00	2,116.00	2,117.00	2,175.00	2,239.00	2,319.00	2,404.00	2,546.00	2,978.00
Purchases of stock-in-trade	9.00	4.00	7.00	6.00	6.00	8.00	16.00	9.00	9.00	7.00	7.00	9.00	13.00	15.00	15.00	56.00
Changes in inventories	-58.00	130.00	53.00	-22.00	-6.00	35.00	-43.00	20.00	-57.00	-39.00	-43.00	-17.00	-103.00	79.00	-16.00	-180.00
Employee benefit expense	167.00	182.00	214.00	196.00	218.00	217.00	215.00	196.00	219.00	216.00	226.00	227.00	262.00	282.00	301.00	296.00
Finance costs	58.00	66.00	67.00	70.00	72.00	66.00	62.00	62.00	66.00	75.00	74.00	82.00	87.00	105.00	85.00	146.00
Depreciation and amortisation	115.00	117.00	125.00	121.00	124.00	127.00	136.00	132.00	137.00	141.00	152.00	151.00	174.00	188.00	184.00	186.00
Other expenses	571.00	523.00	571.00	623.00	650.00	590.00	659.00	674.00	655.00	658.00	668.00	684.00	779.00	814.00	780.00	803.00
Total expenses	2,864.00	2,673.00	2,699.00	2,739.00	2,793.00	2,739.00	2,798.00	3,004.00	3,146.00	3,176.00	3,259.00	3,375.00	3,530.00	3,887.00	3,895.00	4,285.00
Profit before exceptional items and tax	40.00	56.00	178.00	199.00	270.00	228.00	197.00	195.00	162.00	128.00	166.00	159.00	246.00	276.00	350.00	39.00
Exceptional items	-24.00	-0.00	-9.00	0.00	0.00	0.00	-58.00	7.00	-0.00	0.00	-37.00	-3.00	0.00	-58.00	-10.00	-7.00
Profit before tax	16.00	56.00	170.00	199.00	270.00	228.00	139.00	203.00	162.00	128.00	129.00	156.00	246.00	218.00	340.00	32.00
Current tax	2.00	0.00	-2.00	31.00	56.00	42.00	29.00	40.00	34.00	16.00	23.00	30.00	44.00	38.00	78.00	18.00
Deferred tax	9.00	15.00	47.00	22.00	12.00	12.00	17.00	14.00	12.00	20.00	13.00	12.00	24.00	30.00	23.00	15.00
Tax expense	11.00	15.00	45.00	53.00	68.00	54.00	46.00	54.00	46.00	36.00	36.00	42.00	68.00	68.00	101.00	33.00
Profit for the period	6.00	35.00	132.00	144.00	208.00	181.00	102.00	154.00	121.00	97.00	99.00	112.00	186.00	155.00	244.00	4.00
Profit attributable to owners	8.00	8.00	134.00	145.00	208.00	181.00	109.00	154.00	122.00	97.00	99.00	112.00	186.00	156.00	244.00	0.00
Profit attributable to non-controlling interests	-1.00	0.00	-1.00	-1.00	-0.00	-0.00	-6.00	0.00	-0.00	-0.00	-1.00	-0.00	-0.00	-0.00	-0.00	0.00
Other comprehensive income	6.00	8.00	-15.00	1.00	1.00	2.00	5.00	-4.00	8.00	5.00	-34.00	10.00	39.00	-3.00	89.00	-63.00
Total comprehensive income	13.00	43.00	118.00	145.00	209.00	183.00	107.00	150.00	129.00	102.00	65.00	123.00	225.00	153.00	333.00	-59.00
Earnings per share, basic	1.93	8.75	33.05	35.75	0.00	44.87	26.84	38.11	30.13	24.01	24.60	27.80	45.98	38.59	60.45	1.07
Earnings per share, diluted	1.93	8.75	33.05	35.75	0.00	44.87	26.84	38.11	30.13	24.01	24.60	27.80	45.98	38.59	60.45	1.07

Annual results, as filed

Line	2019-03-31	2020-03-31	2021-03-31	2022-03-31	2023-03-31	2024-03-31	2025-03-31	2026-03-31
Revenue from operations	6,985.00	6,779.00	7,610.00	9,363.00	11,315.00	11,943.00	13,218.00	15,678.00
Other income	39.00	21.00	14.00	11.00	17.00	20.00	18.00	40.00
Total income	7,024.00	6,799.00	7,623.00	9,375.00	11,332.00	11,963.00	13,235.00	15,718.00
Cost of materials consumed	4,305.00	3,873.00	4,174.00	6,187.00	7,351.00	6,923.00	8,319.00	9,508.00
Purchases of stock-in-trade	76.00	36.00	28.00	29.00	30.00	36.00	33.00	52.00
Changes in inventories	-199.00	6.00	64.00	-188.00	4.00	-35.00	-120.00	-57.00
Employee benefit expense	530.00	542.00	675.00	694.00	735.00	846.00	856.00	1,071.00
Finance costs	88.00	151.00	176.00	207.00	242.00	269.00	278.00	359.00
Depreciation and amortisation	193.00	277.00	340.00	435.00	469.00	509.00	563.00	697.00
Other expenses	1,630.00	1,598.00	1,685.00	1,932.00	2,220.00	2,521.00	2,655.00	3,057.00
Total expenses	6,623.00	6,482.00	7,142.00	9,296.00	11,052.00	11,069.00	12,584.00	14,687.00
Profit before exceptional items and tax	401.00	317.00	482.00	79.00	279.00	894.00	651.00	1,032.00
Exceptional items	-45.00	-30.00	-34.00	-13.00	-33.00	-58.00	-30.00	-71.00
Profit before tax	356.00	287.00	448.00	66.00	246.00	836.00	622.00	960.00
Current tax	94.00	79.00	42.00	-12.00	2.00	158.00	114.00	189.00
Deferred tax	31.00	-5.00	10.00	36.00	70.00	64.00	58.00	90.00
Tax expense	125.00	74.00	52.00	24.00	72.00	221.00	172.00	279.00
Profit for the period	251.00	230.00	432.00	71.00	182.00	635.00	471.00	697.00
Profit attributable to owners	252.00	231.00	0.00	—	186.00	643.00	0.00	698.00
Profit attributable to non-controlling interests	-1.00	-1.00	0.00	—	-4.00	-7.00	0.00	-1.00
Other comprehensive income	-38.00	25.00	-24.00	-42.00	-7.00	9.00	-25.00	135.00
Total comprehensive income	213.00	255.00	409.00	29.00	176.00	644.00	446.00	833.00
Earnings per share, basic	62.35	57.17	106.81	17.60	46.02	158.87	116.85	172.78
Earnings per share, diluted	62.35	57.17	106.81	17.60	46.02	158.87	116.85	172.78

Balance sheet, as filed

Line	2022-09-30	2023-03-31	2023-09-30	2024-03-31	2024-09-30	2025-03-31	2025-09-30	2026-03-31
Total assets	9,708.00	9,628.00	9,815.00	9,994.00	10,798.00	11,212.00	13,102.00	13,902.00
Non-current assets	6,665.00	6,939.00	7,047.00	7,256.00	7,523.00	7,780.00	8,998.00	9,541.00
Current assets	3,041.00	2,689.00	2,767.00	2,690.00	3,230.00	3,387.00	4,058.00	4,313.00
Property, plant and equipment	5,320.00	6,008.00	6,115.00	6,174.00	6,411.00	6,857.00	7,714.00	7,978.00
Capital work-in-progress	907.00	569.00	565.00	659.00	698.00	507.00	536.00	598.00
Goodwill	0.00	0.00	23.00	23.00	23.00	23.00	23.00	30.00
Other intangible assets	164.00	88.00	78.00	74.00	81.00	104.00	430.00	431.00
Inventories	1,545.00	1,138.00	1,182.00	1,150.00	1,531.00	1,412.00	1,922.00	1,783.00
Trade receivables	1,229.00	1,307.00	1,327.00	1,283.00	1,397.00	1,653.00	1,725.00	1,839.00
Cash and cash equivalents	17.00	61.00	32.00	55.00	40.00	48.00	76.00	40.00
Total equity and liabilities	9,708.00	9,628.00	9,815.00	9,994.00	10,798.00	11,212.00	13,102.00	13,902.00
Equity	3,293.00	3,457.00	3,762.00	4,052.00	4,209.00	4,376.00	4,580.00	5,054.00
Equity share capital	40.00	40.00	40.00	40.00	40.00	40.00	40.00	40.00
Other equity	3,232.00	3,399.00	3,705.00	4,002.00	4,160.00	4,328.00	4,532.00	5,006.00
Total liabilities	6,415.00	6,171.00	6,053.00	5,942.00	6,589.00	6,836.00	8,522.00	8,848.00
Non-current liabilities	2,212.00	2,026.00	1,782.00	1,609.00	1,476.00	1,671.00	2,210.00	2,435.00
Current liabilities	4,203.00	4,144.00	4,271.00	4,333.00	5,113.00	5,165.00	6,312.00	6,413.00
Borrowings, non-current	1,725.00	1,441.00	1,158.00	957.00	780.00	924.00	1,426.00	1,504.00
Borrowings, current	578.00	652.00	732.00	672.00	1,105.00	1,005.00	1,518.00	1,507.00
Trade payables	2,472.00	2,268.00	2,362.00	2,332.00	2,722.00	2,740.00	3,548.00	3,448.00

Cash flow, as filed

Line	2022-09-30	2023-03-31	2023-09-30	2024-03-31	2024-09-30	2025-03-31	2025-09-30	2026-03-31
Net cash from operating activities	386.00	1,205.00	773.00	1,719.00	415.00	1,092.00	874.00	1,786.00
Net cash from investing activities	-453.00	-849.00	-388.00	-854.00	-407.00	-922.00	-1,513.00	-2,271.00
Net cash from financing activities	61.00	-320.00	-414.00	-871.00	-22.00	-177.00	667.00	477.00
Purchase of property, plant and equipment	454.00	879.00	391.00	867.00	427.00	943.00	1,539.00	2,267.00
Net increase in cash	-6.00	37.00	-29.00	-5.00	-15.00	-7.00	28.00	-8.00
con:CFO.BEFORE_TAX	338.00	1,176.00	833.00	1,882.00	465.00	1,183.00	933.00	1,966.00
con:INTEREST_RECEIVED.OPERATING	0.00	-9.00	0.00	0.00	0.00	0.00	0.00	0.00
con:INTEREST_PAID.OPERATING	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:DIVIDENDS_RECEIVED.OPERATING	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:TAX_PAID.OPERATING	-48.00	-38.00	60.00	163.00	50.00	91.00	59.00	180.00
con:CF_OTHER.OPERATING	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:INVESTMENTS_PURCHASED	4.00	3.00	12.00	0.00	0.00	0.00	0.00	0.00
con:INVESTMENTS_SOLD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:PPE_DISPOSALS	0.00	1.00	0.00	0.00	0.00	1.00	0.00	0.00
con:CF_INVESTING.SUBSIDIARIES_SOLD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:CF_INVESTING.SUBSIDIARIES_ACQUIRED	0.00	0.00	0.00	12.00	0.00	0.00	0.00	0.00
con:CF_INVESTING.JV_SOLD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:CF_INVESTING.JV_ACQUIRED	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Who owns it

The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.

Holder	2023-03-31	2023-06-30	2023-09-30	2023-12-31	2024-03-31	2024-06-30	2024-09-30	2024-12-31	2025-03-31	2025-06-30	2025-09-30	2025-12-31	2026-03-31	2026-06-30
Promoter and promoter group	47.21	47.21	47.21	47.21	47.21	47.21	47.21	47.21	47.21	47.21	0.47	0.47	0.47	0.47
Domestic institutions	13.59	12.20	12.91	14.30	15.91	17.10	19.74	20.54	21.52	20.08	0.21	0.20	0.21	0.22
Mutual funds	—	—	—	—	—	—	—	—	—	17.47	0.18	0.17	0.18	0.17
Insurance companies	2.36	2.23	2.21	2.86	3.75	4.15	4.48	4.62	3.67	2.33	0.03	0.03	0.02	0.04
Foreign institutions	23.30	26.20	24.10	19.99	20.15	18.76	16.65	15.83	15.27	17.38	0.16	0.17	0.17	0.14
Government	—	—	—	—	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00
Public	52.79	52.79	52.79	52.79	52.79	52.79	52.79	52.79	52.79	52.79	0.53	0.53	0.52	0.52
Non-institutional	15.90	14.39	15.78	18.50	16.72	16.93	16.40	16.42	16.00	15.33	0.15	0.15	0.15	0.16
Shares outstanding	40450092	40450092	40450092	40450092	40450092	40450092	40450092	40450092	40450092	40450092	40450092	40450092	40450092	40450092

Related parties

Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.

Counterparty	Relationship	Type	Amount in the period	Transactions
KEC International Limited	Entities where control / significa	Any other transaction, Purchase of fixed assets, Sal	346,211,000.00	6
CEAT Kelani Holdings (Pvt.) Limited	Joint Venture	Dividend received	166,620,000.00	1
Associated CEAT Holdings Company (Pvt.) Limited	Subsidiary Company	Dividend received	164,100,000.00	1
CEAT Specialty Tires Inc.	Subsidiary Company	Any other transaction	157,947,000.00	1
CEAT Specialty Tyres B.V.	Subsidiary Company	Any other transaction, Sale of goods or services	140,700,000.00	2
RPG Enterprises Limited	Entities where control / significa	Any other transaction	139,388,000.00	4
Ceat Kelani International Tyres (Pvt.) Limited	Subsidiary of CEAT Kelani Holdings	Any other transaction, Dividend received, Sale of go	129,674,000.00	5
Tyresnmore Online Private Limited	Subsidiary Company	Any other transaction, Dividend received, Sale of go	89,233,000.00	3
Arnab Banerjee	Managing Director and Chief Execut	Remuneration	42,656,000.00	4
Harsh Vardhan Goenka	Chairman, Non-executive Non-indepe	Any other transaction	40,035,000.00	2
Anant Vardhan Goenka	Vice Chairman, Non-executive Non-i	Any other transaction	35,305,000.00	2
Kumar Subbiah	Chief Financial Officer	Any other transaction, Remuneration	32,234,000.00	5
RPG Foundation	Directors, KMP or their close memb	Any other transaction	27,143,000.00	1
Ganesh Vaidyanathan Iyer	Director	Remuneration	19,162,000.00	1
Raychem RPG (Pvt.) Limited	Directors, KMP or their close memb	Any other transaction, Purchase of fixed assets	10,052,000.00	2

What management said

Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.

Date	Quarter	Who spoke
2024-07-25	Q1FY25	CEAT LIMITED	Read the call

Some earlier announcements under this heading are covering letters only — no transcript was attached.

What they said about it, quarter by quarter

Topic	Q1FY25
Capex	We indicated a capex for the year at around INR1,000 crores, out of which about INR254 crores were spent in quarter 1, and all expansion projects are …
Costs	Increase in raw material costs basket was largely driven by increase in the prices of natural rubber.
Debt and cash	We kept tight controls on our working capital, as always, and closed the quarter with a negative working capital of INR240 crores.
Demand	Rural demand seems to be coming back gradually.
Guidance	With good monsoons, we expect rural demand to keep coming back as sustainably as a high level as compared to urban demand.
Margin	Our raw material cost has gone up approximately by 5% quarter-on-quarter and this is singularly responsible for the contraction in gross margin.
People	Better road infrastructure is expected to increase the vehicle utilization and enable longer drives.
Pricing	We have mitigated the RM prices, as mentioned just a few minutes back in replacement and international markets by taking progressive price hikes in st…
Revenue growth	July 19, 2024 by volumes and the growth was margin accretive as we had a higher growth in more profitable segments like replacement and exports during…

What they said they would do

Sentences in which management set an expectation. Each names the speaker and the page of the transcript it came from.

Date	Quarter	Who	What they said
2024-07-25	Q1FY25	CEAT LIMITED	Overall, we expect raw material prices in quarter 2 to be higher by about 5% to 6% over quarter 1.