Ceat Ltd. — Investor Presentation 2026

Jan 19, 2026

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January 19, 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 Sirs/Madam,

Sub: Investor Presentation

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith Investor Presentation on Unaudited Financial Results of the Company for the period ended December 31, 2025.

It is requested to take note of the same.

Thanking you,

Yours faithfully,

For CEAT Limited

GAURAV Digitally signed by GAURAV TONGIA TONGIA Date: 2026.01.19 22:54:22 +05'30'

(Gaurav Tongia)

Company Secretary

Encl. As above

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Q3 FY26 | Investor Presentation | 19[th] January 2026

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Disclaimer

This presentation may include statements which may constitute forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements about the strategy for growth, business development, market position, expenditures, and financial results, are forward looking statements. Forward looking statements are based on certain assumptions and expectations of future events. The Company cannot guarantee that these assumptions and expectations are accurate or will be realized. The actual results, performance or achievements, could thus differ materially from those projected in any such forwardlooking statements.

The information contained in these materials has not been independently verified. None of the Company, its Directors, Promoter or affiliates, nor any of its or their respective employees, advisers or representatives or any other person accepts any responsibility or liability whatsoever, whether arising in tort, contract or otherwise, for any errors, omissions or inaccuracies in such information or opinions or for any loss, cost or damage suffered or incurred howsoever arising, directly or indirectly, from any use of this document or its contents or otherwise in connection with this document, and makes no representation or warranty, express or implied, for the contents of this document including its accuracy, fairness, completeness or verification or for any other statement made or purported to be made by any of them, or on behalf of them, and nothing in this document or at this presentation shall be relied upon as a promise or representation in this respect, whether as to the past or the future. The information and opinions contained in this presentation are current, and if not stated otherwise, as of the date of this presentation. The Company undertake no obligation to update or revise any information, or the opinions expressed in this presentation as a result of new information, future events or otherwise. Any opinions or information expressed in this presentation are subject to change without notice.

This presentation does not constitute or form part of any offer or invitation or inducement to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of CEAT Limited (the “Company”), nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment therefore. Any person/ party intending to provide finance / invest in the shares/businesses of the Company shall do so after seeking their own professional advice and after carrying out their own due diligence procedure to ensure that they are making an informed decision. This presentation is strictly confidential and may not be copied or disseminated, in whole or in part, and in any manner or for any purpose. No person is authorized to give any information or to make any representation not contained in or inconsistent with this presentation and if given or made, such information or representation must not be relied upon as having been authorized by any person. Failure to comply with this restriction may constitute a violation of the applicable securities laws. The distribution of this document in certain jurisdictions may be restricted by law and persons into whose possession this presentation comes should inform themselves about and observe any such restrictions. By participating in this presentation or by accepting any copy of the slides presented, you agree to be bound by the foregoing limitations.

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Section 1: RPG Group Overview RPG Group and CEAT Overview

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RPG Group: Powered by Passion, Driven by Ethics

UNLEASH TALENT TOUCH LIVES OUT PERFORM AND ☺

RPG Enterprises was founded in 1979. The Group currently operates various businesses in Infrastructure, Technology, Life Sciences, Plantations and Tyre industries. The Group has business history dating back to 1820 in banking, textiles, jute and tea. The Group grew in size and strength with several acquisitions in the 1980s and 1990s. RPG Group is one of India’s fastest growing conglomerates with 31,000+ employees, presence in 135+ countries and annual gross revenues of US$ 5.2 bn.

	EPC major in		One of India’s		Global		Integrated		Technology		One of India’s
	infrastructure		leading tyre		technology		pharma		solutions		largest
	segments like		manufacturers		consulting and		company in		company		plantation
	T&D, Civil,				IT services		formulations		catering to		companies
	Transportation,				company		and synthetic		energy and		producing tea,
	Oil & Gas,						APIs		infrastructure		rubber, etc.
	Renewables &
	Cables

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Overview

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Deming Grand recipient in the 1[st] Tyre industry

Light House certified factories by 2 World Economic Forum

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61k+ Touchpoints

Rs. 13,218 Cr Revenue (FY25) 0.62x D/E Ratio (Q3 FY26)

50+ OEM relationships

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12k+ Permanent employees

11.3% EBITDA (FY25)

AA Credit Rating (outlook +ve)

201 Patent Filings

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*Consolidated financials

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Q3 FY26 Performance Section 1: RPG Group Overview

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Consolidated Financial Performance (1/2)

Revenue Rs. 4,157 Cr, +10.2% QoQ, +26.0% YoY

Diversified Product Mix[1]

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Rs. Cr
4,157
3,773
3,300
Q3 FY26 Q2 FY26 Q3 FY25
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• Healthy YoY volume growth across segments

• QoQ volume growth led by Replacement and International Business segments

• International Business continues to recover well, and witnessing strong demand from key clusters

• Realizations softened marginally on YoY and QoQ basis

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Truck & Bus PC/UV LCV/Others
2/3W Off Highway
29% (30%) 22% (20%) 7% (7%)
27% (28%) 15% (15%)
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Balanced Market Mix[1]

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OEM Exports
29% (27%) 19% (19%)
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Replacement
52% (54%)
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1. Standalone revenue breakup for 9M FY26; Figures in parenthesis denote corresponding numbers for 9M FY25

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Consolidated Financial Performance (2/2)

EBITDA margin 13.7%, +13 bps QoQ, +317 bps YoY

Debt Rs. 2,931 Cr, D/E 0.62x, Debt/EBITDA 1.58x

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EBITDA Margin (%)
13.7% 13.5%
10.5%
Q3 FY26 Q2 FY26 Q3 FY25
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Debt Rs. Cr
2,931 2,944
1,835
Q3 FY26 Q2 FY26 Q3 FY25
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• RM basket increased marginally on sequential basis

• Capex outflow for the quarter was ~Rs. 254 Cr

• Gross margin contracted by 100 bps on QoQ basis,

  • Net working capital increased QoQ by ~Rs. 38 Cr

• expanded by 310 bps on YoY basis

• EBITDA margins expanded on both sequential and YoY

• Leverage ratios marginally improved on a sequential basis

basis

• During Q3, an exceptional provision of ~Rs. 58 Cr was

created to comply with new labour codes

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Consolidated: Summary P&L

All figures in Rs. Cr

					All figures in Rs. Cr
Parameter Revenue from operations COGS Gross margin Gross margin % Employee Cost Other Expenses EBITDA EBITDA % Finance Cost Depreciation Operating PBT Exceptional expense Non-Operating income PBT PAT	Q3 FY26 4,157.1 2,497.3 1,659.7 39.9% 282.2 814.1 568.0 13.7% 105.0 188.1 274.9 58.0 6.1 223.0 155.4	Q2 FY26 3,772.7 2,228.6 1,544.0 40.9% 261.7 778.9 510.6 13.5% 87.0 173.9 249.8 0.0 3.9 253.7 185.7	Q3 FY25 3,299.9 2,084.7 1,215.2 36.8% 215.9 658.4 346.3 10.5% 75.1 141.5 129.7 0.0 3.4 133.2 97.0	QoQ 10.2% 12.1% 7.5% (100) bps 7.8% 4.5% 11.2% 13 bps 20.7% 8.2% 10.1% NM 56.7% -12.1% -16.3%	YoY 9M FY26 9M FY25 YoY 26.0% 11,459.1 9,797.3 17.0%
					19.8% 6,957.0 6,093.0 14.2% 36.6% 4,502.1 3,704.2 21.5% 310 bps 39.3% 37.8% 148 bps 30.7% 770.8 630.5 22.3% 23.6% 2,276.8 1,987.7 14.5% 64.0% 1,464.8 1,102.4 32.9%
					317 bps 12.8% 11.3% 153 bps 39.8% 274.0 203.4 34.7% 33.0% 513.4 410.4 25.1% 111.9% 677.5 488.6 38.7%
					NA 61.3 -7.4 -924.4% 76.4% 14.6 13.0 12.4% 67.5% 630.9 509.1 23.9% 60.2% 453.4 372.7 21.7%

Notes

Figures are as per IND AS and rounded off to single digit

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Company’s investment in Sri Lanka JV is accounted using Equity method under IND AS which was earlier consolidated using proportionate consolidation method Gross margin includes impact of non-material cost movement of inventory (FG + SFG) EBITDA includes Share of profit from Sri Lanka JV EBITDA does not include Non-operating income

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Standalone: Summary P&L

All figures in Rs. Cr

					All figures in Rs. Cr
Parameter Revenue from operations COGS Gross margin Gross margin % Employee Cost Other Expenses EBITDA EBITDA % Finance Cost Depreciation Operating PBT Exceptional expense Non-Operating income PBT PAT	Q3 FY26 3,957.2 2,378.4 1,578.8 39.9% 252.0 769.5 557.2 14.1% 104.8 165.2 287.3 57.8 26.5 255.9 191.6	Q2 FY26 3,701.1 2,184.3 1,516.8 41.0% 244.5 765.5 506.8 13.7% 86.9 166.6 253.4 0.0 16.5 269.9 202.2	Q3 FY25 3,291.8 2,078.3 1,213.4 36.9% 213.7 656.1 343.6 10.4% 75.1 141.4 127.2 0.0 3.2 130.4 96.0	QoQ 6.9% 8.9% 4.1% (109) bps 3.1% 0.5% 9.9% 39 bps 20.6% -0.9% 13.4% NM 60.3% -5.2% -5.3%	YoY 9M FY26 9M FY25 YoY 20.2% 11,179.0 9,758.1 14.6%
					14.4% 6,786.4 6,061.3 12.0% 30.1% 4,392.6 3,696.8 18.8% 303 bps 39.3% 37.9% 141 bps 17.9% 721.3 624.5 15.5% 17.3% 2,216.2 1,980.7 11.9% 62.2% 1,455.1 1,091.6 33.3%
					364 bps 13.0% 11.2% 183 bps 39.6% 273.7 202.8 34.9% 16.8% 483.0 410.1 17.8% 125.9% 698.4 478.7 45.9%
					NA 61.1 -7.4 -922.3% 716.4% 69.0 29.0 137.9% 96.3% 706.3 515.1 37.1% 99.6% 529.2 381.7 38.6%

Notes

Financials are as per IND AS and rounded off to single digit

Gross margin includes impact of non-material cost movement of inventory (FG + SFG) EBITDA does not include Non-operating income

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ESG Highlights

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ESG Highlights

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CEAT has committed to set company-wide emission reductions in line with science-based Net-Zero with the SBTi

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~33% plant power through renewable sources[1]

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~30% usage of Sustainable Material in manufacturing of tyres[2] ~40% Local Natural Rubber sourced via alternate transport to lower footprint[ 2]

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CEAT’s Ambernath Plant (Off-the-Highway Tyres) has been awarded the Gold Medal at the 11th India Green Manufacturing Challenge (IGMC)

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1. As of Q3 FY26

Key Social Initiatives

Restoration of 15,000+ plantation, supporting over 350+ flora species & 80+ fauna species at the Nest, Malabar Hills

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Reaching 42 schools, impacting 22,000+ students through 1,900+ sessions, and engaging 1,500+ teachers via 427 Saathi Sessions 194 women being empowered via Women Entrepreneurship Development Training in Nagpur, Nashik, Bhandup and Chennai

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1. The percentage share of RE power as at Q3 FY26

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T H A N K Y O U

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