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Ceat Ltd. Audit Report / Information 2026
61454_rns_2026-04-28_34990ea9-cec9-435b-bbcb-4a73862ba07e.pdf
Audit Report / Information
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CEAT
CEAT LIMITED
RPG House
463, Dr. Annie Besant Road,
Worli, Mumbai - 400030, India
☏ 91 22 24930621
✉ [email protected]
✉ www.ceat.com
CIN: L25100MH1958PLC011041
April 28, 2026
BSE Limited
Phiroze Jeejeebhoy Towers,
Dalal Street,
Mumbai 400 001
Security Code: 500878
National Stock Exchange of India Limited
Exchange Plaza, Bandra Kurla Complex,
Bandra (East), Mumbai 400 051
Symbol: CEATLTD
NCD Symbol: CL26, CL30
Dear Sir/Madam,
Sub: Outcome of the Board Meeting held on April 28, 2026
Pursuant to the provisions of Regulations 30, 51 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 and such other rules and regulations, if and as may be applicable, this is to inform that the Board of Directors ('Board') of the Company at its meeting held today, which commenced at 01:30 PM (IST) and concluded at 05:14 PM (IST), inter-alia, unanimously approved/ consented to/took on record, the following:
A. Audited Financial Results
Audited Financial Results and Statements (Standalone and Consolidated) of the Company, for the quarter and year ended March 31, 2026, together with the Statutory Auditor's Report(s) and a declaration duly signed by the Chief Financial Officer stating that the said Audit Reports are with an unmodified opinion.
B. Dividend
Recommendation of Dividend of Rs. 35/- (Rupees Thirty-Five only), i.e. 350% per equity share of face value of Rs. 10/- (Rupees Ten only) each fully paid up, for FY 2025-26, subject to approval of shareholders at the ensuing Annual General Meeting, which will be paid / dispatched within 30 days of such approval.
C. Continuation of term of Mr. Paras Kumar Choudhary (DIN: 00076807) as a Non-Executive, Non- Independent Director
Based on the recommendation of Nomination and Remuneration Committee and subject to the approval of shareholders, continuation of appointment of Mr. Paras Kumar Choudhary (DIN: 00076807) as a Non-Executive, Non-Independent the Company, liable to retire by rotation, notwithstanding attainment of age of 75 years.
An RPG Company
CEAT
CEAT LIMITED
RPG House
463, Dr. Annie Besant Road,
Worli, Mumbai - 400030, India
☎ 91 22 24930621
✉ [email protected]
✉ www.ceat.com
CIN: L25100MH1958PLC011041
D. Amendment to the Code
Amendment to the Code of Fair Disclosure, Internal Procedures and Conduct for Regulating, Monitoring and Reporting of Trading by Designated Persons and immediate relatives of Designated Persons, and legitimate purpose policy. The updated code is available on https://www.ceat.com/investors/corporate-governance.html
Details required as per the relevant SEBI Circular(s) are enclosed herewith as Annexure(s).
In continuation of our communication dated June 25, 2025, the Company intends to avail credit facility of upto Rs. 1,000 crores, besides commercial papers, for business purposes in one or more tranches during FY27 well within overall borrowing limits approved by the shareholders.
Ensuing Annual General Meeting of the Company shall be convened and held as per the directives and circulars issued by the relevant authorities and the details thereof shall be intimated separately.
Further, pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015, as amended from time to time, and the underlying Code of the Company and other applicable rules and regulations, the Trading Window for dealing in securities of the Company, shall open post 48 hours after declaration of aforesaid results.
This is for your information and record.
Thanking you,
Yours faithfully,
For CEAT Limited
GAURAV TONGIA
Digitally signed by GAURAV TONGIA
Date: 2026.04.28 17:41:07 +05'30'
(Gaurav Tongia)
Company Secretary
Encl.
1. As above
2. Press Release
An RPG Company
CEAT
CEAT LIMITED
RPG House
463, Dr. Annie Besant Road,
Worli, Mumbai - 400030, India
☎ 91 22 24930621
✉ [email protected]
✉ www.ceat.com
CIN: L25100MH1958PLC011041
Annexure(s)
Continuation of appointment of Mr. Paras Kumar Choudhary (DIN: 00076807) as a Non-Executive, Non-Independent Director
| Sr No. | Particulars | Description |
|---|---|---|
| 1 | Reason for change viz., appointment, resignation, removal, death or otherwise. | Continuation of appointment of Mr. Paras Kumar Choudhary (DIN: 00076807) as a Non-Executive, Non-Independent Director notwithstanding attaining the age of 75 years, subject to approval of shareholders. |
| 2 | Date of appointment/reappointment/cessation (as applicable) and term of appointment/reappointment | Mr. Paras Kumar Choudhary shall attain the age of 75 years on October 1, 2026, hence, continuation of his appointment is recommended to the shareholders for their approval. |
| 3 | Brief Profile (in case of appointment) | Mr. Paras Chowdhary, one of the foremost experts in the tyre industry in India, has over 38 years of experience in senior management positions in the tyre industry, including his position as Managing Director of the Company for more than 11 years between 2001 and 2012. His erstwhile stint was with Apollo Tyres Limited where he served as President and Whole time Director. |
| Mr. Chowdhary holds a bachelor’s degree in physics (Hons.). | ||
| 4 | Disclosure of relationships between directors (in case of appointment of a director) | Mr. Chowdhary is not related to any other director or key managerial personnel of the Company |
| 5 | Affirmation | As per declaration received, Mr. Chowdhary is not debarred from holding the office of director by virtue of any SEBI order or any other such authority |
An RPG Company
B S R & Co. LLP
Chartered Accountants
14th Floor, Central B Wing and North C Wing
Nesco IT Park 4, Nesco Center
Western Express Highway
Goregaon (East), Mumbai – 400 063, India
Telephone: +91 (22) 6257 1000
Fax: +91 (22) 6257 1010
Independent Auditor's Report
To the Board of Directors of CEAT Limited
Report on the audit of the Standalone Annual Financial Results
Opinion
We have audited the accompanying standalone annual financial results of CEAT Limited (hereinafter referred to as the “Company”) for the year ended 31 March 2026, attached herewith, (in which are included financial information of CEAT Employee Welfare Trust (“the Trust”) being submitted by the Company pursuant to the requirement of Regulation 33 and Regulation 52(4) read with Regulation 63 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations”), as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021.
In our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of report of other auditor on audited financial information of the Trust, the aforesaid standalone annual financial results:
a. are presented in accordance with the requirements of Regulation 33 and Regulation 52(4) read with Regulation 63 of the Listing Regulations, as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021 in this regard; and
b. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India, of the net profit and other comprehensive income and other financial information for the year ended 31 March 2026.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (“SAs”) specified under section 143(10) of the Companies Act, 2013 (“the Act”). Our responsibilities under those SAs are further described in the Auditor’s Responsibilities for the Audit of the ‘Standalone Annual Financial Results section of our report. We are independent of the Company, in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us, along with the consideration of report of the other auditor referred to in paragraph no. (a) of the “Other Matters” paragraph below, is sufficient and appropriate to provide a basis for our opinion on the standalone annual financial results.
Management’s and Board of Directors’/Trustees Responsibilities for the Standalone Annual Financial Results
These standalone annual financial results have been prepared on the basis of the standalone annual financial statements.
The Company’s Management and the Board of Directors are responsible for the preparation and presentation of these standalone annual financial results that give a true and fair view of the net profit/loss and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act and other accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52(4) read with Regulation 63 of the Listing Regulations, as prescribed in Securities and
B S R & Co. Limited Liability and Related Accountants
Nesco Limited
Western Express Highway, Goregaon (East), Mumbai - 400 063
Tel: +91 (22) 6257 1000 Fax: +91 (22) 6257 1010
Registered Office:
14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai – 400063
Page 1 of 3
B S R & Co. LLP
Independent Auditor's Report (Continued)
CEAT Limited
Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021. The respective Management and Board of Directors of the Company/Trustees of the Trust are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of Company/Trust and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone annual financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the standalone annual financial results, the respective Management and the Board of Directors/Trustees are responsible for assessing Company/Trust's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors/Trustees either intends to liquidate the Company/Trust or to cease operations, or has no realistic alternative but to do so.
The respective Board of Directors/Trustees are responsible for overseeing the financial reporting process of Company/Trust.
Auditor's Responsibilities for the Audit of the Standalone Annual Financial Results
Our objectives are to obtain reasonable assurance about whether the standalone annual financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone annual financial results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
-
Identify and assess the risks of material misstatement of the standalone annual financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
-
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of financial statements on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
-
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the standalone annual financial results made by the Management and Board of Directors.
-
Conclude on the appropriateness of the Management's and Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the appropriateness of this assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the standalone annual financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
-
Evaluate the overall presentation, structure and content of the standalone annual financial results, including the disclosures, and whether the standalone annual financial results represent the
Page 2 of 3
B S R & Co. LLP
Independent Auditor's Report (Continued)
CEAT Limited
underlying transactions and events in a manner that achieves fair presentation.
- Obtain sufficient appropriate audit evidence regarding the financial information of the Trust of the Company to express an opinion on the standalone annual financial results. For the Trust included in the standalone annual financial results, which has been audited by other auditor, such other auditor remain responsible for the direction, supervision and performance of the audit carried out by them. We remain solely responsible for our audit opinion. Our responsibilities in this regard are further described in paragraph (a) of "Other Matters" paragraph in this audit report.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
Other Matter
a. The standalone annual financial results include the audited financial information of one Trust, whose financial information reflect total assets (before consolidation adjustments) of Rs. 3,943 lakhs as at 31 March 2026, total revenue (before consolidation adjustments for the period from 16 May 2025 to 31 March 2026) of Rs. Nil, total net profit after tax (before consolidation adjustments for the period from 16 May 2025 to 31 March 2026 ('the period')) of Rs. 0.18 lakhs, and net cash inflows (before consolidation adjustments) of Rs. 0.10 lakhs for the period ended on that date as considered in the standalone annual financial results, which has been audited by the other auditor. The other auditor's report on financial information of this Trust has been furnished to us by the management.
Our opinion on the standalone annual financial results, in so far as it relates to the amounts and disclosures included in respect of this Trust, is based solely on the report of such auditor.
Our opinion is not modified in respect of this matter.
b. The standalone annual financial results include the results for the quarter ended 31 March 2026 being the balancing figure between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year which were subject to limited review by us.
Our opinion is not modified in respect of this matter.
For B S R & Co. LLP
Chartered Accountants
Firm's Registration No.:101248W/W-100022
Sadashiv Shetty
Partner
Membership No.: 048648
UDIN:26048648LZQUCF4706
Mumbai
28 April 2026
Page 3 of 3
CEAT
CEAT LIMITED
CIN: L25100MH1958PLC011041
Registered Office
RPG House, 463, Dr. Annie Besant Road, Mumbai 400 030.
Statement of Audited Standalone financial results for the quarter and year ended March 31, 2026
| Particulars | Quarter ended | Year ended | |||
|---|---|---|---|---|---|
| 31-Mar-26 | 31-Dec-25 | 31-Mar-25 | 31-Mar-26 | 31-Mar-25 | |
| Audited (Refer note 2) | Unaudited | Audited (Refer note 2) | Audited | Audited | |
| 1 Income | |||||
| a) Revenue from operations | 403,585 | 395,720 | 341,357 | 1,521,486 | 1,317,165 |
| b) Other income | 6,250 | 2,645 | 435 | 13,150 | 3,335 |
| Total income | 409,835 | 398,365 | 341,792 | 1,534,636 | 1,320,500 |
| 2 EXPENSES | |||||
| a) Cost of materials consumed | 238,505 | 229,070 | 217,536 | 919,712 | 831,883 |
| b) Purchases of stock-in-trade | 493 | 376 | 128 | 1,394 | 900 |
| c) Changes in inventories of finished goods, work-in-progress and stock-in trade | 4,337 | 8,398 | (4,390) | 872 | (13,380) |
| d) Employee benefits expenses | 24,777 | 25,202 | 22,202 | 96,909 | 84,653 |
| e) Finance costs | 8,581 | 10,475 | 7,440 | 35,947 | 27,720 |
| f) Depreciation and amortisation expenses | 17,135 | 16,517 | 15,221 | 65,438 | 56,226 |
| g) Other expenses | 76,746 | 76,953 | 66,421 | 298,362 | 264,493 |
| Total expenses | 370,574 | 366,991 | 324,558 | 1,418,634 | 1,252,495 |
| 3 Profit before exceptional items and tax [1-2] | 39,261 | 31,374 | 17,234 | 116,002 | 68,005 |
| 4 Exceptional items (refer note 4) | 963 | 5,781 | 3,704 | 7,073 | 2,961 |
| 5 Profit before tax [3-4] | 38,298 | 25,593 | 13,530 | 108,929 | 65,044 |
| 6 Tax expenses | |||||
| a) Current tax | 7,694 | 3,770 | 2,287 | 18,781 | 11,214 |
| b) Deferred tax | 2,249 | 2,664 | 1,205 | 8,876 | 5,620 |
| 9,943 | 6,434 | 3,492 | 27,657 | 16,834 | |
| 7 Profit for the period [5-6] | 28,355 | 19,159 | 10,038 | 81,272 | 48,210 |
| 8 Other comprehensive income | |||||
| a) Items that will not be reclassified to profit or loss | |||||
| i) Remeasurements gains / (losses) on defined benefit plans | 4,945 | (61) | (1,030) | 5,602 | (675) |
| ii) Income tax relating to above | (1,245) | 16 | 259 | (1,410) | 170 |
| b) Items that will be reclassified to profit or loss | |||||
| i) Net movement of cash flow hedges | 5,631 | (88) | (3,218) | 11,074 | (2,810) |
| ii) Income tax relating to above | (1,417) | 22 | 810 | (2,787) | 707 |
| Total other comprehensive income / (loss) for the period | 7,914 | (111) | (3,179) | 12,479 | (2,608) |
| 9 Total comprehensive income for the period [comprising profit and other comprehensive income for the period] [7+8] | 36,269 | 19,048 | 6,859 | 93,751 | 45,602 |
| 10 Paid-up equity share capital (Face value of the share - ₹ 10 each) | 4,045 | 4,045 | 4,045 | 4,045 | 4,045 |
| 11 Other equity excluding revaluation reserve as shown in the audited balance sheet | 502,657 | 424,534 | |||
| 12 Earnings per share (of ₹ 10 each) (not annualised except for year ended March) | |||||
| a) Basic (in ₹) | 70.29 | 47.47 | 24.82 | 201.17 | 119.18 |
| b) Diluted (in ₹) | 70.29 | 47.47 | 24.82 | 201.17 | 119.18 |
B. G. & Co. LLP
14th Floor,
Central & Wing and
North C Wing,
Nesco Center,
Western Express Highway
Goregaon (East),
Mumbai - 400 030
Chartered Accountants
SEAL OF THE STATE OF MUNICIPALITY
MINISTRY OF CENTRAL AND FINANCIAL AFFAIRS
1
1
1
SEAL OF THE STATE OF MUNICIPALITY
CEAT Limited
Standalone Statement of Assets and Liabilities as at March 31, 2026
(₹ in lakhs)
| Particulars | As at March 31, 2026 Audited | As at March 31, 2025 Audited |
|---|---|---|
| I Assets | ||
| (1) Non-current assets | ||
| (a) Property, plant and equipment | 684,303 | 656,792 |
| (b) Capital work-in-progress | 58,862 | 50,661 |
| (c) Right-of-use asset | 33,476 | 28,783 |
| (d) Intangible assets | 32,876 | 10,410 |
| (e) Intangible assets under development | 3,994 | 3,087 |
| (f) Financial assets | ||
| (i) Investments | 49,269 | 16,499 |
| (ii) Loans | 75,868 | - |
| (ii) Other financial assets | 2,996 | 871 |
| (g) Non-current tax assets (net) | 1,193 | 1,754 |
| (h) Other non-current assets | 20,021 | 4,235 |
| Total non-current assets (1) | 962,858 | 773,092 |
| (2) Current assets | ||
| (a) Inventories | 166,000 | 140,925 |
| (b) Financial assets | ||
| (i) Trade receivables | 175,965 | 165,233 |
| (ii) Cash and cash equivalents | 3,090 | 3,947 |
| (iii) Bank balances other than (ii) above | 306 | 360 |
| (iv) Other financial assets | 26,318 | 11,123 |
| (c) Other current assets | 34,707 | 14,740 |
| Total current assets (2) | 406,386 | 336,328 |
| Total assets [(1) + (2)] | 1,369,244 | 1,109,420 |
| II Equity And Liabilities | ||
| (1) Equity | ||
| (a) Equity share capital | 4,045 | 4,045 |
| (b) Other equity | 502,657 | 424,534 |
| Total equity (1) | 506,702 | 428,579 |
| (2) Non-current liabilities | ||
| (a) Financial liabilities | ||
| (i) Borrowings | 150,367 | 92,352 |
| (ii) Lease liabilities | 15,742 | 13,491 |
| (iii) Other financial liabilities | 1,869 | 1,973 |
| (b) Provisions | 8,682 | 9,179 |
| (c) Deferred tax liabilities (net) | 61,710 | 48,637 |
| Total non-current liabilities (2) | 238,370 | 165,632 |
| (3) Current liabilities | ||
| (a) Financial liabilities | ||
| (i) Borrowings | 148,833 | 100,477 |
| (ii) Lease liabilities | 10,164 | 7,310 |
| (iii) Trade payables | ||
| - Total outstanding dues of micro enterprises and small enterprises | 13,095 | 8,615 |
| - Total outstanding dues of creditors other than micro enterprises and small enterprises | 321,460 | 265,253 |
| (iv) Other financial liabilities | 98,954 | 95,877 |
| (b) Other current liabilities | 12,302 | 20,675 |
| (c) Provisions | 16,292 | 13,830 |
| (d) Current tax liabilities (net) | 3,072 | 3,172 |
| Total current liabilities (3) | 624,172 | 515,209 |
| Total equity and liabilities [(1) + (2) + (3)] | 1,369,244 | 1,109,420 |
BSR & Co. LLP
145 Fleet
Central B Wing and North C Wing
Nesco IT Park4
Nesco Centre
Western Express Highway
Goregaon (East)
Mumbai - 400 002
SEAL OF THE STATE OF MUMBAI-30 1931
1
1
CEAT Limited
Standalone Statement of Cash Flow for the year ended March 31, 2026
(€ in lakhs)
| Particulars | 2025-26 | 2024-25 | |
|---|---|---|---|
| I | CASH FLOW FROM OPERATING ACTIVITIES | ||
| Profit before tax | 108,929 | 65,044 | |
| Adjustments to reconcile profit before tax to net cash flows: | |||
| Depreciation and amortization expenses | 65,438 | 56,226 | |
| Interest income | (4,287) | (661) | |
| Finance costs | 35,947 | 27,720 | |
| Dividend income | (2,146) | (1,641) | |
| Compensation expenses under employee stock option plan | 450 | - | |
| Impairment of Asset | - | 1,365 | |
| Gain on termination of lease | (17) | (98) | |
| Allowance/(Write-back) for doubtful debts and advances | (9) | 478 | |
| Gain on sale of mutual funds | (135) | (38) | |
| Loss on disposal of property, plant and equipment (net) | 1,639 | 120 | |
| Unrealised foreign exchange (gain) / loss (net) | (4,594) | 277 | |
| Operating profit before working capital changes | 201,215 | 148,792 | |
| Adjustments for : | |||
| Decrease / (increase) in inventories | (25,075) | (27,511) | |
| Decrease / (increase) in trade receivables | (8,773) | (37,839) | |
| Decrease / (increase) in other current assets and other current financial assets | (24,455) | (7,927) | |
| Decrease / (increase) in other non-current assets and other non-current financial assets | (191) | (100) | |
| (Decrease) / increase in trade payables | 55,822 | 39,943 | |
| (Decrease) / increase in current financial liabilities and other current liabilities | (2,917) | (1,570) | |
| (Decrease) / increase in current provisions | 6,889 | 1,631 | |
| (Decrease) / increase in non-current provisions | (513) | 1,369 | |
| Cash flows from operating activities | 202,002 | 116,788 | |
| Income taxes (paid) / refund | (18,013) | (8,490) | |
| Net cash flow generated from operating activities (I) | 183,989 | 108,298 | |
| II | CASH FLOW FROM INVESTING ACTIVITIES | ||
| Purchase of property, plant and equipment and intangible assets (including capital work-in progress, intangible assets under development and capital advance) | (107,598) | (94,707) | |
| Payment towards business combination (refer note 5) | (23,933) | - | |
| Proceeds from sale of property, plant and equipment | 40 | 79 | |
| Purchase of investments | (32,770) | (926) | |
| Purchase of mutual funds | (235,327) | (54,200) | |
| Proceeds from sale of mutual funds | 235,463 | 54,238 | |
| Interest received | 337 | 326 | |
| Loan given to subsidiary | (70,154) | - | |
| Dividend received | 2,146 | 1,641 | |
| Net cash flow (used in) investing activities (II) | (231,796) | (93,549) | |
| III | CASH FLOW FROM FINANCING ACTIVITIES | ||
| Interest paid | (31,288) | (24,403) | |
| Proceeds / (repayment) of short-term borrowings (net) | 39,766 | 31,840 | |
| Proceeds from long-term borrowings | 105,000 | 35,000 | |
| Repayment of long-term borrowings | (38,396) | (33,308) | |
| Loan to ESOP trust for purchase of treasury shares | (3,943) | - | |
| Payment of Lease Liabilities | (12,054) | (11,016) | |
| Dividend paid | (12,135) | (12,135) | |
| Net cash flows generated from / (used in) financing activities (III) | 46,950 | (14,022) | |
| Net increase / (decrease) in cash and cash equivalents (I + II + III) | (857) | 727 | |
| Cash and cash equivalents at the beginning of the year | 3,947 | 3,220 | |
| Cash and cash equivalents at the end of the year | 3,090 | 3,947 |
S.R & Co. LLP
I am Flour.
Central & Wing and
North C. Wing
Nancin IT Punkt
Nanci Center
Western Express Highway
Gorgasin (East)
Mumbai - 400 063
18
SEAL OF THE ARABIAN UNION
100
CEAT Limited
Additional disclosures as per regulation 52(4) and 54 of Securities Exchange Board of India (Listing, Obligations and Disclosure Requirements) Regulations, 2015 and relevant amendment rules thereafter:
| Sr. No. | Particulars | Quarter ended | Year ended | |||
|---|---|---|---|---|---|---|
| 31-Mar-26 | 31-Dec-25 | 31-Mar-25 | 31-Mar-26 | 31-Mar-25 | ||
| (a) | Net profit after tax (₹ in lakhs) | 28,355 | 19,159 | 10,038 | 81,272 | 48,210 |
| (b) | Earnings per share (of ₹ 10 each) (in ₹) (not annualised except for year ended march) | |||||
| i) Basic | 70.29 | 47.47 | 24.82 | 201.17 | 119.18 | |
| ii) Diluted | 70.29 | 47.47 | 24.82 | 201.17 | 119.18 | |
| (c) | Operating margin (%) | |||||
| (EBITDA* / revenue from operations) | 14.55 | 14.08 | 11.56 | 13.42 | 11.28 | |
| (d) | Net profit margin (%) | |||||
| (Net profit after tax / revenue from operations) | 7.03 | 4.84 | 2.94 | 3.48 | 3.66 | |
| (e) | Interest service coverage ratio (in times) | |||||
| [(EBITDA – tax expenses) / interest costs* for the period] | 5.92 | 5.01 | 5.24 | 5.17 | 4.90 | |
| (f) | Debt service coverage ratio (in times) (not annualised except for year ended march) | |||||
| [(EBITDA – tax expenses) for the period / (interest costs* for the period + current maturities of long-term borrowings as at date)] | 0.88 | 0.90 | 0.79 | 2.18 | 2.02 | |
| (g) | Bad debts to account receivable Ratio (%) (not annualised except for year ended march) | |||||
| (Bad debts for the period / average gross trade receivables) | & | & | 0.07 | - | 0.07 | |
| (h) | Debtor turnover ratio (in times) (annualised) | |||||
| (Revenue from sale of goods or services / average trade receivables) | 9.53 | 9.62 | 11.30 | 8.79 | 8.85 | |
| (i) | Inventory turnover ratio (in times) (annualised) | |||||
| (Cost of goods sold / average inventories of finished goods, work-in-progress and stock-in trade) | 11.19 | 10.19 | 10.22 | 7.96 | 10.37 | |
| (j) | Capital redemption reserve (₹ in lakhs) | 390 | 390 | 390 | 390 | 390 |
| (k) | Net worth (₹ in lakhs) | |||||
| (Equity share capital + other equity) | 506,702 | 470,295 | 428,579 | 506,702 | 428,579 | |
| (l) | Debt / equity ratio (in times) | |||||
| [Debt (debt comprises non-current borrowings and current borrowings) / net worth] | 0.59 | 0.63 | 0.45 | 0.59 | 0.45 | |
| (m) | Current ratio (in times) | |||||
| (Current assets / (current liabilities #) | 0.65 | 0.63 | 0.65 | 0.65 | 0.65 | |
| (n) | Current liability ratio (in times) | |||||
| (Current liabilities # / total liabilities) | 0.72 | 0.70 | 0.76 | 0.72 | 0.76 | |
| (o) | Total debts to total assets (in times) | |||||
| [(Non-current borrowings + current borrowings) / total assets] | 0.22 | 0.23 | 0.17 | 0.22 | 0.17 | |
| (p) | Long term debt to working capital (in times) | |||||
| [(Non-current borrowings including current maturities of long-term borrowings) / working capital] | ||||||
| (Working capital = current assets - current liabilities #) | ## | ## | ## | ## | ## |
- EBITDA = Earnings before finance costs, tax expenses, depreciation and amortisation expenses, exceptional items and other income.
** Interest cost includes interest capitalised and excludes interest on lease liabilities.
Current liabilities include capital creditors and dealer deposit.
Net working capital is negative.
& represents amounts less than 0.01
i. During the previous quarter, the Company repaid listed secured non-convertible debentures (NCDs) amounting to ₹10,000 Lakhs on due date, which were issued on a private placement basis.
ii. During the previous quarter, the Company issued listed 25,000 unsecured non-convertible debentures (NCDs) of face value ₹ 1 lakh each aggregating ₹ 25,000 Lakhs on private placement basis.
iii. The listed unsecured non-convertible debentures of the Company aggregating ₹ 40,000 Lakhs [including as mentioned above in point (ii)] are outstanding and not due for repayment as at March 31, 2026.
iv. The commercial papers of the Company, having face value of ₹ 50,000 Lakhs are outstanding and not due for repayment as at March 31, 2026.
B. R. & Co. L.L.P.
14th Floor,
Central & Wing and
North C Wing,
Nesco (7 Park),
Nesco Center,
Western Express Highways,
Garegum (East),
Mumbai - 400 013
MERITED ACCOUNTANTS
C. E. A. C.
A. R. & D.
A. R. & D.
Notes:
-
The audited standalone financial results of the Company for the quarter and year ended March 31, 2026 have been prepared in accordance with the Indian Accounting Standards ("Ind AS") as prescribed under section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rules, 2015 and relevant amendment rules thereafter.
-
The figures of the last quarter are the balancing figures between audited figures in respect of full financial year upto March 31, 2026 / March 31, 2025 and the unaudited published year-to-date figures upto December 31, 2025 / December 31, 2024 being the date of the end of the third quarter of financial year respectively which were subjected to limited review.
-
The above audited standalone financial results of the Company for the year ended March 31, 2026 have been reviewed by the Audit Committee and thereafter approved by the Board of Directors at their meeting held on April 28, 2026.
-
Following items form part of exceptional items:
a. The Government of India notified the four Labour Codes ('New Labour Codes') effective November 21, 2025. The Ministry of Labour & Employment has also issued draft Central Rules and FAQs to help assess the financial impact of these changes. The Company has ascertained its estimated obligations under the New Labour Codes. Accordingly, the Group has recognised incremental estimated obligations aggregating ₹ 5,781 Lakhs as an exceptional item on account of employees past services, based on actuarial valuation and best estimate in accordance with Ind AS 19 - 'Employee Benefits' and consistent with guidance provided by the Institute of Chartered Accountants of India.
b. During the year ended March 31, 2026, the Company had introduced Voluntary Retirement Schemes ('VRS') for its employees. The compensation in respect of employees who opted for VRS aggregated ₹ 963 Lakhs for the quarter ended March 31, 2026, Nil for the quarter ended December 31, 2025, ₹ 3,704 Lakhs for the quarter ended March 31, 2025, ₹ 1,292 Lakhs for the year ended March 31, 2026 and ₹ 4,111 Lakhs for the year ended March 31, 2025.
c. During the year ended March 31, 2025 the Company had purchased the licenses to fulfil its EPR obligations accrued in year ended March 31, 2024 which was disclosed as an exceptional item. Accordingly, excess provision of Rs. 1,150 Lakhs was written back during year ended March 31, 2025.
-
The Company had entered into definitive agreement(s) on December 6, 2024 with associate companies in the Michelin Group for acquisition of Camso brand's Off-Highway construction equipment tyre and tracks business, through its wholly owned subsidiary- CEAT OHT Lanka (Private) Limited ("wholly owned subsidiary") for the deal valued at $225 Mn. including a commitment to acquire Camso trademark for a pre-determined value of $44 Mn. and inventories of approximately $44 Mn at a later date. The above results include the financial results of the acquisition w.e.f September 01, 2025 and hence the figures for the quarter and year ended March 31, 2026 are not strictly comparable with the previous corresponding period. In accordance with Ind AS 103, the purchase consideration has been allocated based on fair values of the assets and liabilities acquired. For the aforesaid transaction, the Company has remitted ₹ 27,398 Lakhs as investment in equity and ₹ 71,900 Lakhs as loan to its wholly owned subsidiary.
-
The Company has made an additional investment of ₹ 345 Lakhs in 28,264 equity shares on April 11, 2025, ₹ 355 Lakhs in 29,084 equity shares on July 10, 2025, ₹ 340 Lakhs in 27,855 equity shares on November 05, 2025 and ₹ 361 Lakhs in 29,575 equity shares on January 21, 2026 in its wholly owned subsidiary-TYRESNMORE Online Private Limited (TNM), an investment of ₹ 27,398 Lakhs in 1,50,00,000 equity shares of its wholly owned subsidiary-CEAT OHT Lanka (Private) Limited on August 29, 2025, an investment of ₹ 509 Lakhs in 10,000 equity shares on April 17, 2025 and ₹ 205 Lakhs in 3,800 equity shares on December 08, 2025 of its subsidiary-PT CEAT Tyres Indonesia, ₹ 9 Lakhs in 50,000 equity shares of its wholly owned subsidiary-CEAT Brazil Holding Ltda (formerly known as CEAT Brazil Tires Services Ltda) on September 25, 2025 and ₹ 19 Lakhs in 15,000 equity shares of its wholly owned subsidiary-CEAT International UK Limited on January 12, 2026.
-
The Board of Directors of the Company recommended a dividend of ₹ 35/- per equity shares of ₹ 10/- each for the year ended March 31, 2026 subject to approval of the shareholders at the ensuing Annual General Meeting of the Company.
-
During the year, the Company granted 1,08,572 stock options under the CEAT – Employees Stock Option Scheme 2025 ("ESOP 2025"/"Scheme") to eligible employees, vesting of which is subject to the achievement of specified performance conditions over a defined vesting period. The Company has also established the CEAT Employees Welfare Trust ("Trust") to administer and manage the Scheme.
-
The Company's business activity falls within a single reportable business segment, viz. "Automotive Tyres, Tracks, Tubes and Flaps".
Place: Mumbai
Date: April 28, 2026
By order of the Board of Directors of CEAT Limited
Managing Director and CEO
[DIN:06559516]
B S R & Co. LLP
Chartered Accountants
14th Floor, Central B Wing and North C Wing
Nesco IT Park 4, Nesco Center
Western Express Highway
Goregaon (East), Mumbai – 400 063, India
Telephone: +91 (22) 6257 1000
Fax: +91 (22) 6257 1010
Independent Auditor's Report
To the Board of Directors of CEAT Limited
Report on the audit of the Consolidated Annual Financial Results
Opinion
We have audited the accompanying consolidated annual financial results of CEAT Limited (hereinafter referred to as the “Holding Company”) and its subsidiaries (Holding Company and its subsidiaries together referred to as “the Group”), its joint ventures for the year ended 31 March 2026, attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 and Regulation 52(4) read with Regulation 63 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations”), as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021.
In our opinion and to the best of our information and according to the explanations given to us based on the consideration of the reports of other auditors on separate/consolidated audited financial statements /financial results/ financial information of the subsidiaries and joint ventures, the aforesaid consolidated annual financial results:
a. include the annual financial results of the entities mentioned in Annexure I to the aforesaid consolidated annual financial results:
b. are presented in accordance with the requirements of Regulation 33 and Regulation 52(4) read with Regulation 63 of the Listing Regulations, as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021 in this regard; and
c. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India, of consolidated net profit and other comprehensive income and other financial information of the Group for the year ended 31 March 2026.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (“SAs”) specified under section 143(10) of the Companies Act, 2013 (“the Act”). Our responsibilities under those SAs are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Annual Financial Results section of our report. We are independent of the Group and its joint ventures in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us, along with the consideration of reports of the other auditors referred to in paragraph (a) of the “Other Matters” paragraph below, is sufficient and appropriate to provide a basis for our opinion on the consolidated annual financial results.
Management’s and Board of Directors’ Responsibilities for the Consolidated Annual Financial Results
These consolidated annual financial results have been prepared on the basis of the consolidated annual financial statements.
The Holding Company’s Management and the Board of Directors are responsible for the preparation and presentation of these consolidated annual financial results that give a true and fair view of the consolidated
B S R & Co. (a partnership from a member of the Chartered Accountants) Limited Liability Partnerships Ltd. Registered Office: 14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063
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Independent Auditor's Report (Continued)
CEAT Limited
net profit/ loss and other comprehensive income and other financial information of the Group including its joint ventures in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52(4) read with Regulation 63 of the Listing Regulations, as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021. The respective Management and Board of Directors of the companies included in the Group of its joint ventures are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of each company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated annual financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated annual financial results by the Management and the Board of Directors of the Holding Company, as aforesaid.
In preparing the consolidated annual financial results, the respective Management and the Board of Directors of the companies included in the Group of its joint ventures are responsible for assessing the ability of each company to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.
The respective Board of Directors of the companies included in the Group and the respective Management and Board of Directors of its joint ventures is responsible for overseeing the financial reporting process of each company.
Auditor's Responsibilities for the Audit of the Consolidated Annual Financial Results
Our objectives are to obtain reasonable assurance about whether the consolidated annual financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated annual financial results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
-
Identify and assess the risks of material misstatement of the consolidated annual financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
-
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of financial statements on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
-
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the consolidated annual financial results made by the Management and Board of Directors.
-
Conclude on the appropriateness of the Management's and Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists in order to events or conditions that may cast significant doubt on the appropriateness of accounting for it. If we conclude that a material uncertainty exists, we are required to draw attention to our auditing report to the related disclosures in the consolidated annual financial
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CEAT Limited
results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group and its joint ventures to cease to continue as a going concern.
-
Evaluate the overall presentation, structure and content of the consolidated annual financial results, including the disclosures, and whether the consolidated annual financial results represent the underlying transactions and events in a manner that achieves fair presentation.
-
Obtain sufficient appropriate audit evidence regarding the financial results/financial statements/financial information of the entities within the Group and its joint ventures to express an opinion on the consolidated annual financial results. We are responsible for the direction, supervision and performance of the audit of financial results/financial statements/financial information of such entities included in the consolidated annual financial results of which we are the independent auditors. For the other entities included in the consolidated annual financial results, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion. Our responsibilities in this regard are further described in paragraph (a) of the "Other Matters" paragraph in this audit report.
We communicate with those charged with governance of the Holding Company regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
We also performed procedures in accordance with the circular No CIR/CFD/CMD1/44/2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.
Other Matters
a. The consolidated annual financial results include the audited financial results of seven subsidiaries and one Trust, whose financial statements reflects total assets (before consolidation adjustments) of Rs. 135,277 lakhs as at 31 March 2026, total revenue (before consolidation adjustments) of Rs. 46,489 lakhs and total net loss after tax (before consolidation adjustments) of Rs. 10,178 lakhs, and net cash inflow (before consolidation adjustments) of Rs 23 lakhs for the year ended on that date, as considered in the consolidated annual financial results, which have been audited by their respective independent auditors. The consolidated annual financial results also include the Group's share of total net profit after tax (before consolidation adjustments) of Rs. 1,582 lakhs for the year ended 31 March 2026, as considered in the consolidated annual financial results, in respect of three joint ventures, whose financial statements have been audited by their respective independent auditors. The independent auditor's report on financial statements/financial results/financial information of these entities have been furnished to us by the management.
Our opinion on the consolidated annual financial results, in so far as it relates to the amounts and disclosures included in respect of these entities, is based solely on the reports of such auditors and the procedures performed by us are as stated in paragraph above.
Our opinion on the consolidated annual financial results is not modified in respect of the above matters with respect to our reliance on the work done and the reports of the other auditors.
b. The consolidated annual financial results include the unaudited financial results of six subsidiaries, whose financial statements reflects total assets (before consolidation adjustments) of Rs. 8,510 lakhs as at 31 March 2026, total revenue (before consolidation adjustments) of Rs. 12,710 lakhs, total net loss after tax (before consolidation adjustments) of Rs. 653 lakhs, and net cash out flows (before consolidation adjustments) of Rs 71 lakhs for the year ended on that date, as considered in the consolidated annual financial results. These unaudited financial statements/financial results/ financial
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Independent Auditor's Report (Continued)
CEAT Limited
information have been furnished to us by the Board of Directors.
Our opinion on the consolidated annual financial results, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on such financial statements/financial results/financial information. In our opinion and according to the information and explanations given to us by the Board of Directors, these financial statements/financial results / financial information are not material to the Group.
Our opinion on the consolidated annual financial results is not modified in respect of the above matter with respect to the financial statements/financial results/financial information certified by the Board of Directors.
c. The consolidated annual financial results include the results for the quarter ended 31 March 2026 being the balancing figure between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year which were subject to limited review by us.
For B S R & Co. LLP
Chartered Accountants
Firm's Registration No.:101248W/W-100022
Sadashiv Shetty
Partner
Mumbai
28 April 2026
Membership No.: 048648
UDIN:26048648VOUDFB1300
Annexure I
List of entities included in consolidated annual financial results.
| Sr. No | Name of Component | Relationship |
|---|---|---|
| 1 | CEAT Limited | Holding Company |
| 2 | Associated CEAT Holding Company (Pvt) Limited ('ACHL') (including its following Joint Ventures) | Subsidiary |
| 3 | CEAT Kelani Holding (Pvt.) Limited | Joint Venture of ACHL |
| 4 | Associated CEAT (Pvt.) Limited | Joint Venture of ACHL |
| 5 | CEAT Kelani International Tyres (Pvt.) Limited | Joint Venture of ACHL |
| 6 | CEAT AKKHAN Limited | Subsidiary |
| 7 | Rado Tyres Limited | Subsidiary |
| 8 | CEAT Tires INC (formerly known as CEAT Specialty) | Subsidiary |
Page 4 of 5
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Independent Auditor's Report (Continued)
CEAT Limited
| Tires Inc.) | ||
|---|---|---|
| 9 | CEAT Tyres B.V (formerly known as CEAT Specialty Tyres B.V.) | Subsidiary |
| 10 | CEAT Auto Components Limited | Subsidiary |
| 11 | Taabi Mobility Limited | Subsidiary |
| 12 | TYRESNMORE Online Pvt. Limited | Subsidiary |
| 13 | CEAT Brazil Holding Ltda (formerly known as CEAT Brazil Subsidiary Tires Servicos Ltda) | Subsidiary |
| 14 | PT Tyres Indonesia | Subsidiary |
| 15 | CEAT OHT Lanka (Private) Limited ('OHT Lanka') (w.e.f. 03 March 2025) (including its following subsidiary) | Subsidiary |
| 16 | CEAT OHT Ventures (Private) Limited | Subsidiary of OHT Lanka |
| 17 | CEAT International UK Limited (w.e.f 12 January 2026) | Subsidiary |
| 18 | CEAT Employees' Welfare Trust (w.e.f. 16 May 2025) | Trust |
Page 5 of 5
CEAT
CEAT LIMITED
CIN: L25100MH1958PLC011041
Registered Office
RPG House, 463, Dr. Annie Besant Road, Mumbai 400 030.
Statement of Audited Consolidated financial results for the quarter and year ended March 31, 2026
| Particulars | Quarter ended | Year Ended | ||||
|---|---|---|---|---|---|---|
| 31-Mar-26 | 31-Dec-25 | 31-Mar-25 | 31-Mar-26 | 31-Mar-25 | ||
| Audited (Refer note 2) | Unaudited | Audited (Refer note 7) | Audited | Audited | ||
| 1 INCOME | ||||||
| a) | Revenue from operations | 421,889 | 415,705 | 342,062 | 1,567,800 | 1,321,787 |
| b) | Other income | 2,574 | 605 | 452 | 4,038 | 1,755 |
| Total Income | 424,463 | 416,310 | 342,514 | 1,571,838 | 1,323,542 | |
| 2 EXPENSES | ||||||
| a) | Cost of materials consumed | 254,643 | 240,398 | 217,536 | 950,774 | 831,883 |
| b) | Purchases of stock-in-trade | 1,513 | 1,468 | 717 | 5,190 | 3,301 |
| c) | Changes in inventories of finished goods, work-in-progress and stock-in trade | (3,624) | 7,668 | (4,343) | (5,729) | (11,973) |
| d) | Employee benefits expenses | 30,063 | 28,224 | 22,571 | 107,144 | 85,622 |
| e) | Finance costs | 8,465 | 10,496 | 7,440 | 35,862 | 27,779 |
| f) | Depreciation and amortisation expenses | 18,406 | 18,814 | 15,232 | 69,742 | 56,269 |
| g) | Other expenses | 78,020 | 81,412 | 66,773 | 305,701 | 265,540 |
| Total expenses | 309,487 | 308,660 | 325,926 | 1,468,604 | 1,258,421 | |
| 3 Profit before share of profit of joint ventures, exceptional items and tax | 34,976 | 27,630 | 16,588 | 103,154 | 65,121 | |
| [1 - 2] | ||||||
| 4 | Exceptional items (refer note 4) | 998 | 5,796 | 3,704 | 7,123 | 2,961 |
| 5 | Profit before share of profit of joint ventures and tax | 33,978 | 21,834 | 12,884 | 96,031 | 62,160 |
| [3 - 4] | ||||||
| 6 | Tax expenses | |||||
| a) | Current tax | 7,797 | 3,782 | 2,302 | 18,899 | 11,382 |
| b) | Deferred tax | 2,342 | 2,678 | 1,258 | 8,988 | 5,821 |
| 10,139 | 6,761 | 3,560 | 27,087 | 17,203 | ||
| 7 | Profit for the period before share of profit of joint ventures [5 - 6] | 23,839 | 15,073 | 9,324 | 68,144 | 44,957 |
| 8 | Share of profit from joint ventures (net of tax) | 541 | 467 | 547 | 1,580 | 2,180 |
| 9 | Profit for the period [7 + 8] | 24,380 | 15,540 | 9,871 | 69,724 | 47,137 |
| Attributable to : | ||||||
| Owners of the Parent | 24,385 | 15,577 | 9,949 | 69,802 | 47,264 | |
| Non-controlling interests | (4) | (37) | (78) | (78) | (127) | |
| 10 | Other comprehensive income | |||||
| a) Items that will not be reclassified to profit or loss | ||||||
| (i) Remeasurement gains / (losses) on defined benefit plans | 4,664 | (61) | (960) | 5,323 | (679) | |
| (ii) Income tax relating to above | (1,227) | 15 | 217 | (1,403) | 170 | |
| b) Items that will be reclassified to profit or loss | ||||||
| (i) Net movement of cash flow hedges | 5,631 | (88) | (3,218) | 11,074 | (2,810) | |
| (ii) Net movement of foreign exchange translation reserve | 1,242 | (155) | (242) | 1,340 | 97 | |
| (iii) Income tax relating to above | (1,417) | 22 | 810 | (2,787) | 707 | |
| Total other comprehensive income / (loss) for the period | 8,883 | (267) | (3,373) | 13,547 | (2,515) | |
| Attributable to : | ||||||
| Owners of the Parent | 8,883 | (267) | (3,373) | 13,547 | (2,515) | |
| Non-controlling interests | - | - | - | - | - | |
| 11 | Total Comprehensive Income for the period [Comprising profit and other comprehensive income for the period] [9 + 10] | 33,263 | 15,273 | 6,498 | 83,271 | 44,632 |
| Attributable to : | ||||||
| Owners of the parent | 33,267 | 15,310 | 6,576 | 83,349 | 44,749 | |
| Non-controlling interests | (4) | (37) | (78) | (78) | (127) | |
| 12 | Paid-up equity share capital | 4,045 | 4,045 | 4,045 | 4,045 | 4,045 |
| (Face value of the Share - ¥ 10 each) | ||||||
| 13 | Other equity excluding revaluation reserve as shown in the audited balance sheet of the previous year | 500,556 | 432,808 | |||
| 14 | Earnings Per Share (of ¥ 10 each) (not annualised except for year ended March) | |||||
| a) Basis (in ¥) | 60.45 | 38.59 | 24.60 | 172.78 | 116.85 | |
| b) Diluted (in ¥) | 60.45 | 38.59 | 24.60 | 172.78 | 116.85 |
14th Floor, Centre & Wing and North C Wing, Necca U PpA4, Necca Capital, Western Express Highway, Abington Bnld, Mumbai - 400 063
CEAT LTD
(MUMBAI-30)
CEAT LIMITED
Consolidated Statement of Assets and Liabilities as at March 31, 2026
(₹ in lakhs)
| Particulars | As at March 31, 2026 Audited | As at March 31, 2025 Audited |
|---|---|---|
| I Assets | ||
| (1) Non-current assets | ||
| (a) Property, plant and equipment | 763,058 | 656,916 |
| (b) Capital work-in-progress | 59,841 | 50,661 |
| (c) Right-of-use asset | 34,698 | 28,784 |
| (d) Goodwill | 3,035 | 2,311 |
| (e) Intangible assets | 43,062 | 10,423 |
| (f) Intangible assets under development | 3,994 | 3,089 |
| (g) Investments accounted using equity method | 17,296 | 17,329 |
| (h) Financial assets | ||
| (i) Investments | 4,885 | 1,655 |
| (ii) Other financial assets | 2,996 | 871 |
| (i) Non current tax assets (net) | 1,193 | 1,754 |
| (j) Other non-current assets | 20,023 | 4,237 |
| Total non-current assets (1) | 954,081 | 778,030 |
| (2) Current assets | ||
| (a) Inventories | 178,337 | 141,153 |
| (b) Financial assets | ||
| (i) Trade receivables | 183,890 | 165,331 |
| (ii) Cash and cash equivalents | 3,953 | 4,794 |
| (iii) Bank balances other than cash and cash equivalents | 377 | 530 |
| (iv) Other financial assets | 24,857 | 11,244 |
| (v) Other current assets | 39,842 | 15,694 |
| Total current assets | 431,256 | 338,746 |
| Assets held-for-sale | 4,887 | 4,463 |
| Total (2) | 436,143 | 343,209 |
| Total assets [(1) + (2)] | 1,390,224 | 1,121,239 |
| II Equity and Liabilities | ||
| (1) Equity | ||
| (a) Equity share capital | 4,045 | 4,045 |
| (b) Other equity | 500,556 | 432,808 |
| Equity attributable to equity holders of parent | 504,601 | 436,853 |
| (c) Non-controlling interest | 802 | 773 |
| Total equity (1) | 505,403 | 437,626 |
| (2) Non-current liabilities | ||
| (a) Financial liabilities | ||
| (i) Borrowings | 150,367 | 92,356 |
| (ii) Lease liabilities | 15,834 | 13,491 |
| (iii) Other financial liabilities | 1,869 | 1,973 |
| (b) Provisions | 12,209 | 9,268 |
| (c) Deferred tax liability (net) | 63,221 | 50,035 |
| Total non-current liabilities (2) | 243,500 | 167,123 |
| (3) Current liabilities | ||
| (a) Financial liabilities | ||
| (i) Borrowings | 150,712 | 100,479 |
| (ii) Lease liabilities | 10,296 | 7,312 |
| (iii) Trade payables | ||
| - Total outstanding dues of micro enterprises and small enterprises | 13,184 | 8,630 |
| - Total outstanding dues of creditors other than micro enterprises and small enterprises | 331,598 | 265,389 |
| (iv) Other financial liabilities | 99,666 | 96,016 |
| (b) Other current liabilities | 16,120 | 21,541 |
| (c) Provisions | 16,470 | 13,851 |
| (d) Current tax liabilities (net) | 3,275 | 3,272 |
| Total current liabilities (3) | 641,321 | 516,490 |
| Total equity and liabilities [(1) + (2) + (3)] | 1,390,224 | 1,121,239 |
14th Floor, Central B Wing and North C Wing, Neora IT Park4, Neora Center, Western Express Highway, Gareswon (East), Mumbai - 400 063
1
A
CEAT LTD 2018
MUMBAI-30 1974-4 B. RORO
CEAT Limited
Consolidated Statement of Cash Flow for the year ended March 31, 2026
(₹ in lakhs)
| Particulars | 2025-26 | 2024-25 | |
|---|---|---|---|
| I | CASH FLOW FROM OPERATING ACTIVITIES | ||
| Profit before tax and excluding share of profit of joint venture | 96,031 | 62,160 | |
| Adjustments to reconcile profit before tax to net cash flows: | |||
| Depreciation and amortization expenses | 69,742 | 56,269 | |
| Interest income | (772) | (721) | |
| Finance costs | 35,862 | 27,779 | |
| Compensation Expenses under employee stock option plan | 450 | - | |
| Impairment of assets | - | 1,365 | |
| Gain on termination of lease | (17) | (98) | |
| Allowance/(Write-back) for doubtful debts and advances | (9) | 480 | |
| Gain on sale of Mutual fund | (136) | (38) | |
| (Profit) / Loss on disposal of property, plant and equipment (net) | 1,641 | 129 | |
| Unrealised foreign exchange (gain) / loss (net) | (935) | 277 | |
| Foreign Currency Translation Reserve on Consolidation | 833 | (235) | |
| Operating profit before working capital changes | 202,690 | 147,367 | |
| Adjustments for : | |||
| Decrease / (Increase) in inventories | (37,184) | (26,104) | |
| Decrease / (Increase) in trade receivables | (16,600) | (37,213) | |
| Decrease / (Increase) in other current assets and other current financial assets | (32,129) | (7,148) | |
| Decrease / (Increase) in other non-current asset and other non-current financial assets | (2,052) | (101) | |
| (Decrease) / Increase in trade payables | 71,207 | 40,556 | |
| (Decrease) / Increase in current and non-current financial liabilities and other current liabilities | 951 | (2,112) | |
| (Decrease) / Increase in current provisions | 6,767 | 1,634 | |
| (Decrease) / Increase in non-current provisions | 2,925 | 1,395 | |
| Cash flows from operating activities | 196,575 | 118,274 | |
| Income taxes paid | (18,020) | (9,078) | |
| Net cash flows generated from operating activities (I) | 178,555 | 109,196 | |
| II | Cash Flow From Investing Activities | ||
| Purchase of property, plant and equipment and intangible assets (including capital work-in progress, intangible assets under development and capital advance) | (114,654) | (94,336) | |
| Payment towards business combination (refer note 6) | (112,046) | - | |
| Proceeds from sale of property, plant and equipment | 16 | 79 | |
| Changes in other bank balances | 99 | (27) | |
| Purchase of other non current investments | (3,230) | (22) | |
| Purchase of Mutual funds | (235,327) | (54,200) | |
| Proceeds from sale of Mutual Funds | 235,463 | 54,238 | |
| Interest received | 473 | 383 | |
| Dividend received from Joint Venture | 2,146 | 1,641 | |
| Net cash flows used in investing activities (II) | (227,060) | (92,244) | |
| III | Cash Flow From Financing Activities | ||
| Interest paid | (31,114) | (24,463) | |
| Proceeds / (repayment) of short-term borrowings (net) | 41,644 | 28,247 | |
| Proceeds from long-term borrowings | 105,000 | 35,000 | |
| Repayment of long-term borrowings | (38,398) | (33,302) | |
| Loan to ESOP Trust for purchase of treasury shares | (3,943) | - | |
| Payment of lease liabilities | (13,390) | (11,020) | |
| Dividend paid | (12,135) | (12,136) | |
| Net cash flows generated from / (used in) financing activities (III) | 47,664 | (17,674) | |
| Net increase / (decrease) in cash and cash equivalents (I + II + III) | (841) | (722) | |
| Cash and cash equivalents at the beginning of the year | 4,794 | 5,516 | |
| Cash and cash equivalents at the end of the year | 3,953 | 4,794 |
BSR & Co. LLP
11th Floor,
Central & Wing and
North & West
District 7 Park 4,
Nirkon County
Western Express Highway
4000
Chartered Accountants
A
SEAT LTD
MUMBAI-30
A B. RDAO
CEAT LIMITED
Additional disclosures as per regulation 52(4) and 54 of Securities Exchange Board of India (Listing, Obligations and Disclosure Requirements) Regulations, 2015 and relevant amendment rules thereafter:
| Sr. No. | Particulars | Quarter ended | Year ended | |||
|---|---|---|---|---|---|---|
| 31-Mar-26 | 31-Dec-25 | 31-Mar-25 | 31-Mar-26 | 31-Mar-25 | ||
| (a) | Net Profit after tax (₹ in Lakhs) | 24,380 | 15,540 | 9,871 | 69,724 | 47,137 |
| (b) | Earnings per share (of ₹ 10 each) (in ₹) (not annualised except for year ended march) | |||||
| i) Basic | 60.45 | 38.59 | 24.60 | 172.78 | 116.85 | |
| ii) Diluted | 60.45 | 38.59 | 24.60 | 172.78 | 116.85 | |
| (c) | Operating Margin (%) | |||||
| (EBITDA * / Revenue from operations) | 14.18 | 13.66 | 11.51 | 13.16 | 11.32 | |
| (d) | Net Profit Margin (%) | |||||
| (Net Profit after tax / Revenue from operations) | 5.78 | 3.74 | 2.89 | 4.45 | 3.57 | |
| (e) | Interest Service Coverage Ratio (in times) | |||||
| [(EBITDA * – Tax expenses) / Interest costs ** for the period] | 6.12 | 5.08 | 5.22 | 5.24 | 4.92 | |
| (f) | Debt Service Coverage Ratio (in times) (not annualised except for year ended March) | |||||
| [(EBITDA * – Tax expenses) for the period / (Interest costs ** for the period + Current maturities of long-term borrowings as at date)] | 0.90 | 0.91 | 0.79 | 2.20 | 2.03 | |
| (g) | Bad debts to Account receivable Ratio (%) (not annualised except for year ended March) (Bad debts for the period / Average gross trade receivables) | - | - | 0.07 | - | 0.07 |
| (h) | Debtor turnover ratio (in times) (annualised) | |||||
| (Revenue from sale of goods or services / average trade receivables) | 9.53 | 9.69 | 9.12 | 8.85 | 8.86 | |
| (i) | Inventory turnover ratio (in times) (annualised) | |||||
| (Cost of goods sold / average inventories of finished goods, work-in-progress and stock-in trade) | 11.12 | 10.48 | 10.22 | 10.70 | 10.30 | |
| (j) | Capital redemption reserve (₹ in Lakhs) | 390 | 390 | 390 | 390 | 390 |
| (k) | Net worth (₹ in Lakhs) | |||||
| (Equity share capital + other equity) | 504,601 | 470,976 | 436,853 | 504,601 | 436,853 | |
| (l) | Debt / equity ratio (in times) | |||||
| [Debt (debt comprises non-current borrowings and current borrowings) / net worth] | 0.60 | 0.62 | 0.44 | 0.60 | 0.44 | |
| (m) | Current ratio (in times) | |||||
| (Current assets / (current liabilities #)) | 0.67 | 0.66 | 0.66 | 0.67 | 0.66 | |
| (n) | Current liability ratio (in times) | |||||
| (Current liabilities # / total liabilities) | 0.72 | 0.71 | 0.76 | 0.72 | 0.76 | |
| (o) | Total debts to total assets (in times) | |||||
| [(Non-current borrowings + current borrowings) / total assets] | 0.22 | 0.22 | 0.17 | 0.22 | 0.17 | |
| (p) | Long term debt to working capital (in times) | |||||
| [(Non-current borrowings including current maturities of long-term borrowings) / working capital] | ||||||
| (Working capital = current assets - current liabilities #) | ## | ## | ## | ## | ## |
- EBITDA = Earnings before finance costs, tax expenses, depreciation and amortisation expenses, exceptional items and other income.
** Interest cost includes interest capitalised and excludes interest on lease liabilities.
Current liabilities includes capital creditors and dealer deposits.
Net working capital is negative.
i. During the previous quarter, the Company repaid listed secured non-convertible debentures (NCDs) amounting to ₹10,000 Lakhs on due date, which were issued on a private placement basis.
ii. During the previous quarter, the Company issued listed 25,000 unsecured non-convertible debentures (NCDs) of face value ₹ 1 lakh each aggregating ₹ 25,000 Lakhs on private placement basis.
iii. The listed unsecured non-convertible debentures of the Company aggregating ₹ 40,000 Lakhs [including as mentioned above in point (ii)] are outstanding and not due for repayment as at March 31, 2026.
iv. The commercial papers of the Company, having face value of ₹ 50,000 Lakhs are outstanding and not due for repayment as at March 31, 2026.
80th & Co. L.L.A.
14th Floor,
Central B Hing and
North IT Bank
Nassim Express Highway
Coompaan dham
Mumbai - 400 001
Chartered Accountants
SEAL
MUMBAI-30
1975
1975
Notes:
-
The audited consolidated financial results of CEAT Limited (“the Company” or “the Parent”) and its subsidiaries (“the Group”) and its joint ventures for the quarter and year ended March 31, 2026, have been prepared in accordance with the Indian Accounting Standards (“Ind AS”) as prescribed under section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rules, 2015 and relevant amendment rules thereafter.
-
The figures of the last quarter are the balancing figures between audited figures in respect of full financial year upto March 31, 2026 / March 31, 2025 and the unaudited published year-to-date figures upto December 31, 2025 / December 31, 2024 being the date of the end of the third quarter of financial year respectively which were subjected to limited review.
-
The above audited consolidated financial results of the Group for the quarter and year ended March 31, 2026 have been reviewed by the Audit Committee and thereafter approved by the Board of Directors at their meeting held on April 28, 2026.
-
Following items form part of exceptional items:
a. The Government of India notified the four Labour Codes (‘New Labour Codes’) effective November 21, 2025. The Ministry of Labour & Employment has also issued draft Central Rules and FAQs to help assess the financial impact of these changes. The Group has ascertained its estimated obligations under the New Labour Codes. Accordingly, the Group has recognised incremental estimated obligations aggregating ₹ 5,785 Lakhs as an exceptional item on account of employees past services, based on actuarial valuation and best estimate in accordance with Ind AS 19 - ‘Employee Benefits’ and consistent with guidance provided by the Institute of Chartered Accountants of India.
b. The Group had introduced Voluntary Retirement Schemes (‘VRS’) for its employees. The compensation in respect of employees who opted for VRS aggregated ₹ 998 Lakhs for the quarter ended March 31, 2026, Nil for the quarter ended December 31, 2025, ₹ 3,704 Lakhs for the quarter ended March 31, 2025, ₹ 1,338 Lakhs for the year ended March 31, 2026 and ₹ 4,111 Lakhs for the year ended March 31, 2025.
c. During the year ended March 31, 2025 the Company had purchased the licenses to fulfil its EPR obligations accrued in year ended March 31, 2024 which was disclosed as an exceptional item. Accordingly, excess provision of Rs. 1,150 Lakhs was written back during year ended March 31, 2025.
-
During the year, the Holding Company granted 1,08,572 stock options under the CEAT – Employees Stock Option Scheme 2025 (“ESOP 2025”/“Scheme”) to eligible employees, vesting of which is subject to the achievement of specified performance conditions over a defined vesting period. The Company has also established the CEAT Employees Welfare Trust (“Trust”) to administer and manage the Scheme.
-
The Company had entered into definitive agreement(s) on December 6, 2024 with associate companies in the Michelin Group for acquisition of Camso brand’s Off-Highway construction equipment tyre and tracks business, through its wholly owned subsidiary- CEAT OHT Lanka (Private) Limited (“wholly owned subsidiary”) for the deal valued at $225 Mn. including a commitment to acquire Camso trademark for a pre-determined value of $44 Mn. and inventories of approximately $44 Mn at a later date. The above results include the financial results of the acquisition w.e.f September 01, 2025 and hence the figures for the quarter and year ended March 31, 2026 are not strictly comparable with the previous corresponding period. In accordance with Ind AS 103, the purchase consideration has been allocated based on fair values of the assets and liabilities acquired. For the aforesaid transaction, the Company has remitted ₹ 27,398 Lakhs as investment in equity and ₹ 71,900 Lakhs as loan to its wholly owned subsidiary.
-
The Company has a total of 13 subsidiaries (including step down subsidiaries) and 3 joint ventures as on March 31, 2026.
-
The Board of Directors of the Company recommended a dividend of ₹ 35/- per equity shares of ₹ 10/- each for the year ended March 31, 2026 subject to approval of the shareholders at the ensuing Annual General Meeting of the Company.
-
During the previous quarter, the following changes in the names of subsidiaries were effected :
- CEAT Specialty Tires Inc has been renamed to “CEAT Tires Inc”, effective December 11, 2025.
- CEAT Brazil Tires Servicos Ltda has been renamed to “CEAT Brazil Holding Ltda”, effective December 17, 2025.
-
CEAT Specialty Tyres B.V. has been renamed to “CEAT Tyres B.V.”, effective December 18, 2025.
-
The Group has incorporated a wholly owned subsidiary, “CEAT GmbH”, on April 20, 2026, in Germany.
-
The Group’s business activity falls within a single reportable business segment, viz. “Automotive Tyres, Tracks, Tubes and Flaps”.
-
The Standalone results are available on Company’s website viz, www.ceat.com and on website of BSE (www.bseindia.com) and NSE (www.nseindia.com). Key Standalone financial information is given below.
| Particulars | Quarter ended | Year ended | |||
|---|---|---|---|---|---|
| 31-Mar-26 | 31-Dec-25 | 31-Mar-25 | 31-Mar-26 | 31-Mar-25 | |
| Audited | Unaudited | Audited | Audited | Audited | |
| Revenue from operations | 403,585 | 395,720 | 341,357 | 1,521,486 | 1,317,165 |
| Profit before tax | 38,298 | 25,593 | 13,530 | 108,929 | 65,044 |
| Profit for the period | 28,355 | 19,159 | 10,038 | 81,272 | 48,210 |
Place : Mumbai
Date : April 28, 2026
By order of the Board of CEAT Limited
B.S.R. & Co., L.L.P.
14th Floor,
Central & Wing and
North C Wing,
Neelakshit, Mumbai
Govt. Govt. Off. 1
Govt. Govt. Off. 2
Mumbai-30
Govt. Govt. Off. 3
CEAT
CEAT LIMITED
RPG House
463, Dr. Annie Besant Road,
Worli, Mumbai - 400030, India
☎ 91 22 24930621
📧 [email protected]
@ www.ceat.com
CIN: L25100MH1958PLC011041
April 28, 2026
BSE Limited
Phiroze Jeejeebhoy Towers,
Dalal Street,
Mumbai 400 001
Security Code: 500878
National Stock Exchange of India Limited
Exchange Plaza,
Bandra Kurla Complex, Bandra (East),
Mumbai 400 051
Symbol: CEATLTD
NCD Symbol: CL26, CL30
Sub: Declaration pursuant to Regulation 33(3)(d) and Regulation 52(3)(a) of the SEBI Listing Obligations and Disclosure Requirements) Regulations, 2015
Dear Sir/ Madam,
In terms of the provisions of Regulation 33(3)(d) and Regulation 52(3)(a) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby declare that the Statutory Auditors of the Company, M/s B S R & Co. LLP (Registration No: 101248W/W-100022) have issued the Audit Reports with unmodified opinion for the annual Audited Financial Results of the Company (Standalone and Consolidated) for the year ended March 31, 2026, as approved by the Board at its meeting held today i.e April 28, 2026.
Thanking you,
Yours faithfully,
For CEAT Limited
Komar Subbiah
(Chief Financial Officer)
An RPO Company
CEAT
Q4 FY25-26 Consolidated Revenue Rs. 4,219 crore, up 23% Y-o-Y
Mumbai, India – 28th April, 2026:
CEAT Limited (CIN No: L25100MH1958PLC011041), an RPG Group company, today announced its audited results for the fourth quarter and for the financial year ended 31th March, 2026.
For Q4 FY25-26 on a consolidated basis, the Company's revenue closed at Rs. 4,219 crore, an increase of 23% Y-o-Y, EBITDA margin stood at 14.18%. Net profit stood at Rs. 244 crore.
For year ending 31st March 2026, on a consolidated basis, the Company's revenue closed at Rs. 15,678 crore, an increase of 18.6% Y-o-Y, EBITDA margin stood at 13.16%. Net profit stood at Rs. 697 crore.
Commenting on the results as well as the outlook of the business, Mr. Arnab Banerjee, MD & CEO, CEAT Limited, said, "FY26 has been a strong year where we delivered robust growth in top line as well as in bottom line. We crossed an important milestone of Rs 15000 crores of revenue, accompanied by market share gains in replacement and OEMS. We successfully closed the CAMSO deal during the year.
In Q4, we delivered high growth in all segments including international business, despite geopolitical tensions. Looking ahead, while there is a momentum on top line, we have short-term challenges on supply chain and costs due to steep increase raw material cost that we intend to mitigate through pricing and strong cost management. We intend to continue expanding our capacities in line with our growth plans."
On a standalone basis, the Company's revenue stood at Rs. 4,036 crore, 18% Y-o-Y and EBITDA margin stood at 14.55% and net profit was reported at Rs. 284 crore.
Mr. Kumar Subbiah, CFO of CEAT Limited, said, "In Q4, we improved operating margins by over 51 bps, driven by a sharper focus on operating efficiencies, scale and disciplined cost management. For the year, we delivered our highest-ever profit of ₹ 697 crore.
Our balance sheet continues to be strong and leverage ratios remain healthy to provide growth capital to the business. While gross debt has increased, we remain committed to maintaining a cautious leverage profile with adequate liquidity.
Looking ahead, we will stay focused on strengthening cash flows and disciplined capital allocation. In line with our commitment to deliver sustained value to our shareholders, supported by strong financial performance, the Board has recommended a dividend of 350% per equity share for the year, which is subject to shareholders' approval."
The Board of Directors at its meeting held today has approved a dividend of Rs 35, i.e. 350% per equity share for FY25-26. This is subject to approval of shareholders.
An RPG Company
About CEAT Ltd (www.ceat.com):
CEAT, the flagship company of RPG Enterprises, was established in 1958. Today, CEAT is one of India's leading tyre manufacturers and has a strong presence in global markets. CEAT produces more than 41 million high-performance tyres, catering to various segments like 2-3 Wheelers, Passenger and Utility Vehicles, Commercial Vehicles and Off-Highway Vehicles.
About RPG Group (www.rpggroup.com):
RPG Group, established in 1979, is one of India's fastest-growing business groups with a turnover of US$ 5.2 billion. The group has diverse business interests in the areas of Infrastructure, Tyres, Pharma, IT and Specialty as well as in emerging innovation-led technology businesses.
Media contacts:
RPG Group:
Rashmi Menon – 8898020577 | [email protected]
Adfactors PR:
Gaurav Bhat – 98330 57592 | [email protected]
An RPG Company