MarketFriction

CEAT Ltd

NSE CEATLTD · BSE 500878 · Tyres & Rubber Products
₹3,286.60 +0.68%
NSE close2026-10-01
52 week range3,061.20 - 4,438.00
Market cap₹13,106 Cr.
P/E20.6
Results 14-10 Nifty 500Smallcap 250 Price band 20% Delivery 39.7%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales3,053.322,963.142,991.853,192.823,304.533,299.903,420.623,529.003,772.654,157.054,219.004,318.00
Expenses2,597.202,545.642,600.342,809.942,942.252,959.003,032.543,142.003,269.273,593.703,626.003,953.00
Operating Profit456.12417.50391.51382.88362.28340.90388.08387.00503.38563.35593.00365.00
OPM %14.94%14.09%13.09%11.99%10.96%10.33%11.35%10.97%13.34%13.55%14.06%8.45%
Other Income10.472.94-55.1013.613.423.43-32.522.003.86-51.9116.00-1.00
Interest71.7265.5561.6661.8566.4575.0974.4082.0086.96104.9685.00146.00
Depreciation124.49127.34136.06131.77137.11141.49152.32151.00173.85188.14184.00186.00
Profit before tax270.38227.55138.69202.87162.14127.75128.84156.00246.43218.34340.0032.00
Tax %25.26%23.92%33.04%26.61%28.56%28.29%27.63%26.92%27.57%30.97%29.71%103.12%
Net Profit207.72181.28102.27154.18121.4597.0398.71112.00185.71155.40244.004.00
EPS in Rs51.4244.8726.8438.1130.1324.0124.6027.6945.9738.5160.320.99
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales5,4845,7666,2826,9856,7797,6109,36311,31511,94313,21815,67816,467
Expenses4,6945,0965,6526,3326,0526,6178,64310,34110,29111,74213,61414,442
Operating Profit7896706306527279937219741,6531,4752,0642,025
OPM %14%12%10%9%11%13%8%9%14%11%13%12%
Other Income72891081017-8-188-31-33
Interest1019010493154179207242269278359423
Depreciation108143169193277340435469509563697732
Profit before tax58746636737630448495254857643976837
Tax %32%23%36%33%24%11%26%28%26%27%29%
Net Profit43635923325123043271182635471697589
EPS in Rs108.1789.2858.8362.3557.17106.8117.6046.02158.87116.85172.56145.79
Dividend Payout %11%13%20%19%21%17%17%26%19%26%20%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth11%16%11%21%
Compounded Profit Growth5%10%54%39%
Stock Price CAGR9%20%15%-4%
Return on Equity12%12%15%16%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital404040404040404040404040
Reserves1,6422,0142,3742,5662,7262,8673,2763,2323,3994,0024,3285,006
Borrowings7756639248721,4982,0351,5332,2292,2951,7922,1363,272
Other Liabilities1,3651,3901,5781,6692,1402,4233,2843,6583,8914,1604,7075,584
Total Liabilities3,8224,1084,9175,1466,4047,3668,1339,1609,6279,99411,21213,902
Fixed Assets1,5812,0322,4532,7093,1804,1604,7635,3296,0966,2716,9848,439
CWIP2292993263108331,069793876596684538638
Investments312195232214181184210179170182190222
Other Assets1,7001,5811,9071,9142,2101,9542,3672,7752,7652,8583,5014,604
Total Assets3,8224,1084,9175,1466,4047,3668,1339,1609,6279,99411,21213,902
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity7497023356725619561,3586191,2051,7191,0921,786
Cash from Investing Activity-253-433-543-412-1,060-1,076-618-944-849-854-922-2,271
Cash from Financing Activity-194-326219-20248479-731313-320-871-177477
Net Cash Flow301-571058-15-409-1237-5-7-8
Free Cash Flow449-12-248189-546-154723-337328852149639
CFO/OP124%110%65%122%98%134%142%89%120%114%80%95%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days454039433736444542394643
Inventory Days7076101758888977956616368
Days Payable6875818392111157131112123122132
Cash Conversion Cycle474059353312-16-6-14-23-13-21
Working Capital Days-71121-9-11-27-41-41-49-51-49-49
ROCE %26%27%19%15%13%10%14%6%9%20%15%19%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters47.21%47.21%47.21%47.21%47.21%47.21%47.21%47.21%47.21%47.21%47.29%47.29%
FIIs24.10%19.99%20.16%18.76%16.65%15.83%15.28%17.39%16.21%16.92%16.55%13.82%
DIIs12.92%14.29%15.91%17.09%19.75%20.54%21.52%20.07%21.05%20.48%20.90%22.19%
Public15.79%18.50%16.73%16.93%16.39%16.41%15.99%15.33%15.38%15.12%14.99%16.42%
Others0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.15%0.27%0.27%0.27%
No. of Shareholders1,05,8751,16,5091,14,3971,38,3151,43,0631,56,3331,57,2851,41,6611,36,2331,35,2901,36,3741,48,990

Fundamentals

Market Cap₹ 13,106 Cr.
Current Price₹ 3,240
Stock P/E20.6
Book Value₹ 1,247
ROCE19.2 %
ROE16.1 %
Dividend Yield1.08 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)21%
Compounded Profit Growth (TTM)39%
Consolidated figures.
Valuation
Market capRs 13,294 Cr
Enterprise valueRs 16,523 Cr
P/E (TTM)22.54x
Price to book2.63x
Price to sales0.81x
EV / EBITDA8.30x
EV / EBIT13.12x
EV / sales1.00x
Price to cash flow7.45x
Earnings yield4.44%
Dividend yield1.06%
P/E, 3-year average20.11x
P/B, 3-year average2.65x
P/E, 5-year average28.96x
P/B, 5-year average2.16x
Profitability
Operating margin (excl. other income)13.16%
Operating margin (incl. other income)12.96%
EBITDA margin12.10%
Pre-tax margin5.08%
Net profit margin3.58%
Net margin, latest quarter0.09%
ROE14.83%
ROCE18.01%
ROA5.56%
ROE, 3-year average14.41%
ROCE, 3-year average17.47%
ROA, 3-year average5.52%
ROE, 5-year average10.19%
ROCE, 5-year average13.41%
ROA, 5-year average3.87%
ROIC (approx.)10.87%
Tax rate28.57%
Other income / net worth-0.62%
Growth
Sales growth (latest year)18.61%
Profit growth (latest year)47.69%
Sales CAGR, 3 years11.48%
Sales CAGR, 5 years15.55%
Profit CAGR, 3 years55.35%
Profit CAGR, 5 years10.07%
Sales growth QoQ2.35%
Profit growth QoQ-98.36%
Sales growth YoY (latest quarter)22.36%
Profit growth YoY (latest quarter)-96.43%
Per share
EPS (TTM)Rs 145.79
EPS (latest year)Rs 172.56
EPS (latest quarter)Rs 0.99
EPS, 3-year averageRs 149.43
EPS, 5-year averageRs 102.38
Book value per shareRs 1,247.47
Sales per shareRs 4,070.87
Cash flow per shareRs 441.42
Free cash flow per shareRs 157.97
Dividend per share (latest year)Rs 35.00
Dividend per share, 3-year averageRs 31.67
Dividend per share, 5-year averageRs 22.00
Dividends
Dividend payout20.28%
Dividend payout, 3-year average21.61%
Dividend payout, 5-year average21.59%
Efficiency
Asset turnover1.13x
Fixed asset turnover1.86x
Inventory turnover6.00x
Inventory days61 days
Debtor days43 days
Debtors turnover8.53x
Creditor days132 days
Cash conversion cycle-21 days
Working capital days-49 days
Leverage
Total debtRs 3,272 Cr
Cash and bankRs 43 Cr
Net debtRs 3,229 Cr
Debt to equity0.65x
Net debt / EBITDA1.62x
Interest coverage2.98x
Current ratio (filing 2026-03-31)0.67x
Quick ratio (filing 2026-03-31)0.39x
Trade payables (filing 2026-03-31)Rs 3,448 Cr
Owners' fund to total sources36.30%
Debt to assets23.54%
Cash flow
Cash from Operating Activity (latest year)Rs 1,786 Cr
Cash from Investing Activity (latest year)Rs -2,271 Cr
Cash from Financing Activity (latest year)Rs 477 Cr
Net Cash Flow (latest year)Rs -8 Cr
Free cash flow (latest year)Rs 639 Cr
FCFE (approx.: FCF + change in debt)Rs 1,775 Cr
Cash from ops / profit, 5 years3.12x
Sales to cash flow8.78x
Statement figures
Net sales (TTM)Rs 16,467 Cr
Net sales (latest year)Rs 15,678 Cr
Sales (latest quarter)Rs 4,318 Cr
Operating profit excl. other income (latest year)Rs 2,064 Cr
Operating profit (latest quarter)Rs 365 Cr
Other income (TTM)Rs -33 Cr
EBITDA (TTM)Rs 1,992 Cr
PBDT (TTM)Rs 1,569 Cr
Profit before tax (TTM)Rs 837 Cr
Tax (latest year)Rs 279 Cr
Net profit (TTM)Rs 590 Cr
Net profit (latest year)Rs 698 Cr
Net profit (latest quarter)Rs 4 Cr
Depreciation (TTM)Rs 732 Cr
Depreciation (latest quarter)Rs 186 Cr
Interest (TTM)Rs 423 Cr
Cost of goods sold (latest year)Rs 10,696 Cr
Total expenditure (latest year)Rs 13,614 Cr
Total income (latest year)Rs 15,647 Cr
Share capitalRs 40 Cr
ReservesRs 5,006 Cr
Shareholders' fundsRs 5,046 Cr
Total assetsRs 13,902 Cr
Net blockRs 8,439 Cr
Capital work in progressRs 638 Cr
InvestmentsRs 222 Cr
ReceivablesRs 1,839 Cr
InventoryRs 1,783 Cr
Other liabilitiesRs 5,584 Cr
Shares outstanding (crore)4.04
Ownership
Promoter holding47.29% (+0.08 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 22.5 is at the 58th percentile of its own 9.4-year range (median 20.2, low 8.7, high 109.5).
P/B 2.63 is at the 60th percentile (median 2.17).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodCEATLTDNifty 50Difference
1 week-2.0%-2.8% +0.8 pts
1 month-3.3%-6.8% +3.5 pts
3 months-13.5%-7.6% -5.9 pts
6 months+1.4%+0.4% +1.0 pts
1 year-4.8%-9.9% +5.1 pts
2 years+12.0%-13.6% +25.6 pts
3 years+54.9%+14.2% +40.7 pts
5 years+150.1%+27.9% +122.2 pts
82 mutual fund schemes hold about ₹2,638 Cr. Over three months 63 bought more and 11 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Mirae Asset Large & Midcap Fund1.14%520 +9%
Mirae Asset ELSS Tax Saver Fund1.47%387 +12%
Mirae Asset Midcap Fund1.40%292 +6%
Invesco India Smallcap Fund1.28%201 -4%
Tata Value Fund(Div Trig Opt B-10%)Pay1.72%149 +4%
ICICI Pru Multi Cap Fund0.73%142 +786%
ICICI Pru Multi Cap Fund0.73%137 +786%
Mirae Asset Multicap Fund1.44%81 -7%
Edelweiss Mid Cap Fund0.40%79 +100%
Mahindra Manulife Mid Cap Fund1.36%73 +7%
Mirae Asset Great Consumer Fund1.47%70 +3%
Edelweiss Small Cap Fund0.60%44 +100%
Sundaram Multi Cap Fund1.43%44 +8%
Invesco India Multicap Fund0.84%38 +8%
Aditya Birla SL Conglomerate Fund2.21%36 +57%
Sundaram Small Cap Fund0.80%33 +6%
Edelweiss Multi Cap Fund0.86%30 +7%
Sundaram Value Fund2.01%26 +74%
Edelweiss Flexi Cap Fund0.69%26 +100%
Sundaram Flexi Cap Fund1.20%23 +28%
Mahindra Manulife Business Cycle Fund1.28%17 +8%
Sundaram ELSS Tax Saver Fund1.18%15 +27%
Aditya Birla SL Special Opp Fund1.16%15 +3%
UTI Transportation & Logistics Fund0.34%15 +4%
Edelweiss Aggressive Hybrid Fund0.35%14 +100%

Red flags

F-score 6 of 8
lookRegulator order or action Regulator order or action 2026-09-02: CEAT Limited has informed the Exchange about Action(s) taken or orders passed
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹4,318 Cr +22.4% vs Jun 2025. Net profit ₹4 Cr -96.4%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-07-31Dividend - Rs 35 Per Share
2025-08-08Dividend - Rs 30 Per Share
2024-08-09Annual General Meeting/Dividend - Rs 30 Per Share
2023-06-20Dividend - Rs 12 Per Share
2022-06-10Dividend - Rs 3 Per Share
2021-08-27 Dividend - Rs 18 Per Share
2020-03-19 Interim Dividend - Rs 12 Per Share
2019-07-18 Annual General Meeting/Dividend - Rs 12 Per Share
2018-07-10 Annual General Meeting/Dividend- Rs 11.50 Per Share
2017-07-28 Annual General Meeting/Dividend - Rs 11.50 Per Share
2016-07-29 Annual General Meeting
2016-03-22 Interim Dividend - Rs 11.50/- Per Share (Purpose Revised)
2015-08-03Annual General Meeting/ Dividend - Rs 10/- Per Share
2014-09-17Annual General Meeting And Dividend Rs.10/- Per Share
2013-08-12Annual General Meeting And Dividend Rs.4/- Per Share (Bc Dates Revised)
2012-07-25Annual General Meeting And Dividend Re.1/- Per Share
2011-08-10Annual General Meeting And Dividend Rs.2/- Per Share
2010-07-14Annual General Meeting And Dividend Rs.4/- Per Share
2009-08-07Annual General Meeting
2008-07-09Agm/Dividend - 40%
DateTypeWhat it says
2026-09-30Concall / analyst meetSchedule of meet
2026-09-23General UpdatesFurther investment in Tyresnmore Online Private Limited
2026-09-23General UpdatesGeneral Updates
2026-09-15General UpdatesESG Score
2026-09-10UpdatesGeneral Updates.
2026-09-04UpdatesGeneral Update.
2026-09-02Regulatory actionAction(s) taken or orders passed
2026-09-02Regulatory actionAction(s) taken or orders passed
2026-09-01General UpdatesGeneral Updates
2026-08-27Concall / analyst meetSchedule of meet
2026-08-27General UpdatesGeneral Updates
2026-08-27Regulatory actionAction(s) taken or orders passed
2026-08-25UpdatesGeneral Updates.
2026-08-24UpdatesCommunication sent to shareholders for pending KYC compliance.
2026-08-19Regulatory actionAction(s) taken or orders passed
2026-08-17Committee Meeting UpdatesOutcome of Committee Meeting held on August 17, 2026.
2026-08-17Shareholder meetingProceedings of Annual General Meeting along with Voting Results and Scrutinizer Report.
2026-08-10Concall / analyst meetSchedule of meet
2026-07-31UpdatesESOP Updates.
2026-07-30UpdatesNewspaper Publication.
2026-07-24ESOP grantGrant of options
2026-07-23General UpdatesGeneral Updates
2026-07-23General UpdatesGeneral Updates
2026-07-23Shareholder meetingNotice of Annual General Meeting to be held on August 17, 2026
2026-07-21Record DateRecord date for the purpose of Dividend is 31-Jul-2026.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03