Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 16 Oct
Source: Bse
CEAT Limited (CEATLTD)
Large CapAuto stocks · Large cap · NSE
CEAT Limited is an Indian tyre manufacturer, part of the RPG Group. It reported Rs. 15,678 Cr revenue and 13.2% EBITDA in FY26. The company has 12k+ employees, 50+ OEM relationships, and 61k+ touchpoints, with Deming Grand and Light House certified factories.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals17 Oct 2026 · screener
Latest result14 Oct, 06:22 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Auto P/E 25.7 (n=127)
Technical timing lens
Trend score and candlestick chart
36Bearishfull bear SMA stack · SMA20 -2.9% / mo · MACD +
Stock trend: 27
Sector RS: 49
Sector 3M: -6.3% vs Nifty 500 -5.6%
Auto FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
CEATLTDD candles · FIT view-5.3%Latest close ₹3290.50 on 2026-10-19
Bar
-0.0%
RSI
47
MACD hist
6.59
52W pos
17%
2026-10-19O ₹3290.90H ₹3314.30L ₹3254.20C ₹3290.50Vol 59,862 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
CEATLTDNifty AutoNifty 500
- CEATLTD
- -3.4%
- Nifty 500
- -5.6%
- Nifty Auto
- -5.4%
- Vs Nifty 500
- +2.1 pp
Chart stats
19 Oct 2026- From 52W high
- -25.9%
- 52W range position
- 17%
- ATR (14)
- 2.7%
- Volume vs 20D
- 0.77x
- Avg traded value
- ₹24.6 Cr
- 20D price channel
- ₹3,186.7 - ₹3,485
₹4,438
₹3,061.2 - ₹4,438
₹90.1
Latest completed session
20-session average
26.6% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is weak.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE48
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad2
Revenue +26.2% · PAT -39.7% YoY
Technical
Bearish36
Price trend and sector-relative-strength timing.
Valuation
Legacy model+17.3%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence67
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Sept 2026
Bad · 2/100PAT -40% YoY · margin compression · Rev +26% YoY · +10% QoQ
Filed 14 Oct 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹4,762 Cr | +26.2% | +10.3% |
| EBITDA | ₹457 Cr | -9.2% | +25.2% |
| Operating margin | 9.6% | -374 bps | +115 bps |
| PAT | ₹112 Cr | -39.7% | +2700.0% |
| PAT margin | 2.4% | -257 bps | +226 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 23.30
- P/B
- 2.69
- EV/EBITDA
- 7.81
- Market Cap
- 13328.00Cr
Profitability
- ROE
- 16.10%
- ROCE
- 19.20%
- ROA
- 3.42%
- Dividend Y
- 1.06%
Growth (CAGR)
- Revenue 5Y
- 16.00%
- EPS 5Y
- 10.00%
- Revenue 3Y
- 11.00%
- EPS 3Y
- 54.00%
Balance Sheet
- Debt/Equity
- 0.82
- Interest Coverage
- 3.49×
- Altman Z
- 2.85
- Book Value
- 1226.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 7/5
- OCF
- 1786.00 Cr
- EPS TTM
- 127.51
Shareholding
- Promoter Hold
- 47.29%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 17%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 15.7k+18.6% vs prev
Net Profit
₹ CrLatest: 697+48.0% vs prev
Return on Equity
%Latest: 14.1+50.6% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 47. Wait for confirmation.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~2.9% over last month) — short-term momentum negative.
- RSI(14) at 47 — rising, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 26% off 52W high · 7% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
33
RS percentile
Stage 4 Downtrend
1M return
-5.1%
3M return
-3.4%
6M return
-13.1%
1Y return
-19.3%
RS 1D
+3
RS 20D
-14
Sector rank
#10
Industry rank
#14
Stage evidence
- Price is 4.5% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -0.9%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
weakening
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 99.74+0.90%
RS vs Nifty 500100
Valuation & peers
U-Score 48 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 48 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Financial Turnaround
Fundamental score breakdown
U band · FAIR VALUEValuation7/30
Growth13/25
Quality12/20
Balance Sheet6/15
Cash Flow4/10
Piotroski
8/9 (+5)
Penalties
1
Raw sum
48
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
48/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 17.3%.
- Quality contributes 12/20 to the score.
Main drags
- Valuation is weaker at 7/30; verify the latest quarterly trend.
- Balance sheet is weaker at 6/15; verify the latest quarterly trend.
- Cash flow is weaker at 4/10; verify the latest quarterly trend.
Sector valuation model
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Primary lens
PE and PEG relative to growth, ROE, margins, and brand strength.
Secondary checks
Volume growth, pricing power, distribution, same-store or category growth.
Main risk check
Premium valuation needs durable growth and margin resilience.
PE
23.3
PB
2.7
EV/EBITDA
7.8
ROE
16.1%
ROCE
19.2%
FCF Yield
—
Debt/Equity
0.8
MoS
+17.3%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
48
Previous: 48
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+17.3%
Previous: +17.3%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
54
54
54
54
54
54
47
47
48
48
48
48
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹1,875.46
-75.4% MoS
Growth-justified P/E
31.2
Growth-justified Value
₹3,980.86
+17.3% MoS
PEG
1.46
Comparable companies
Peers
Business-comparable peers in Auto — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
JKTYRE
Large
JK Tyre & Industries Limited
Auto Components
match 163
77
13.5
16.0%
+63%
DEEP VALUE
APOLLOTYRE
Large
Apollo Tyres Limited
Auto Components
match 157
67
12.4
13.1%
+60%
UNDERVALUED
GOODYEAR
Small
Goodyear India Limited
Auto Components
match 152
34
26.1
12.6%
-712%
WATCHLIST
TOLINS
Small
Tolins Tyres Limited
Auto Components
match 152
56
10.3
10.4%
+49%
FAIR VALUE
VIAZ
SME
Viaz Tyres Ltd.
Auto Components
match 151
39
24.0
10.8%
+38%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis under stressReviewed 2026-07-17T04:41:26.209Z
Management commentary snapshot
Q1 FY27 revenue grew 22.3% YoY to Rs. 4,318 Cr, but EBITDA margin contracted significantly by 562 bps QoQ and 238 bps YoY to 8.6% due to high-teens sequential increase in raw material costs. PAT plunged 98.3% QoQ and 96.3% YoY to Rs. 4 Cr.
Despite healthy YoY volume growth and price hikes, Q1 FY27 profitability was severely impacted by surging raw material costs. The sharp decline in EBITDA and PAT raises concerns about the company's ability to pass on costs or manage margins in a volatile input environment. Debt metrics also deteriorated sequentially.
Current business mix
Standalone Revenue by Segment (FY26)
Latest issuer-disclosed distribution across 3 reported categories.
Replacement51.0%
OEM30.0%
Exports19.0%
Growth engines
Healthy Volume Growth
Healthy YoY volume growth across segments; QoQ volume growth led by Replacement segment.
International Business Recovery
International Business continues to recover well, and was the fastest growing segment on YoY basis.
Price Hikes
Realization was higher on both sequential and YoY basis, primarily led by price hikes taken in domestic as well as international markets.
Headwinds
Raw Material Cost Inflation
RM basket cost increased by high-teens on sequential basis. Gross margin contracted by 575 bps QoQ and 287 bps YoY, primarily driven by RMC pressure.
Risk radar
Raw Material Price Volatility
RM basket cost increased by high-teens on sequential basis, leading to significant gross margin contraction.
Profitability Erosion
EBITDA margin contracted by 562 bps QoQ and 238 bps YoY to 8.6%, resulting in a 98.3% QoQ and 96.3% YoY drop in PAT.
Increasing Debt Metrics
D/E ratio increased to 0.65x from 0.60x QoQ, and D/EBITDA ratio rose to 1.58x from 1.46x QoQ.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
YoY comparison is crucial for assessing overall growth and seasonal trends in the tyre industry. QoQ comparison is vital to track sequential momentum, the impact of raw material cost changes, and the effectiveness of price hikes.
Sector KPIs management disclosed
Volume Growth
Healthy YoY volume growth across segments; QoQ volume growth led by Replacement segment.
Realization
Realization was higher on both sequential and YoY basis, primarily led by price hikes taken in domestic as well as international markets.
Exports
International Business continues to recover well, and was the fastest growing segment on YoY basis.
Raw-material pass-through
RM basket cost increased by high-teens on sequential basis. Gross margin contracted by 575 bps QoQ and 287 bps YoY, primarily driven by RMC pressure.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Raw Material Cost Trend | High-teens sequential increase | Stabilization or decline in raw material prices and effective cost pass-through. |
| EBITDA Margin | 8.6% (Q1 FY27) | Margin recovery towards previous levels (Q4 FY26: 14.2%, Q1 FY26: 10.9%). |
| Debt/EBITDA Ratio | 1.58x (Q1 FY27) | Improvement in debt leverage ratios, especially given increased capex and working capital. |
| International Business Growth | Fastest growing segment on YoY basis | Sustained recovery and growth momentum in international markets. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
67Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 52nd percentile of the scored universe and 35th percentile within Auto. Main check: results consistency is weak at 53/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 20 Oct 2026
management-trust-v1
239 docs text-extracted · 43 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
52nd percentile
overall median 67 · Auto: 35th pctile, median 74 · Large: 29th pctile, median 73
Evidence depth
Financial-only
239 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
67
acceptable · profit to cash conversion
Balance sheet
65
acceptable · leverage and solvency
Discipline
68
acceptable · capital discipline
Results
53
watch · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸7 years of positive FCF.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸2 latest quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching CEAT Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 30 Sep - Pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, and any other applicable provisions, please note the schedule of earnings intimation.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 19 Aug - FDA Maharashtra temporarily suspended methanol procurement license for Sept. 1-15, 2026; CEAT arranged alternatives.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Meeting Updates 17 Aug - CEAT approved USD 24.5 million loan conversion into equity of CEAT OHT Lanka, subject to BOI approval.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 10 Aug - Company has informed about the Schedule of Analyst/ Institutional Investors Meet
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 18 Jul
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 3 Jul - Ind-Ra affirmed CEAT’s ratings: NCD Rs150 crore, CP Rs1,000 crore, bank loans Rs1,522.12 crore.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 3 Jul - Pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, and any other applicable provisions, please note the schedule of earnings intimation.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 30 May
Source: Bse
Announcement
Updates 29 May - CEAT issued dividend tax communication; shareholders must submit forms by July 7, 2026.
Source: Bse
Announcement
Compliances-Reg.24(A)-Annual Secretarial Compliance 19 May - CEAT filed FY2025-26 secretarial compliance report; no major non-compliances, except INR 10,000 NSE fine paid.
Source: Bse
Concall transcript
Announcement under Regulation 30 (LODR)-Earnings Call Transcript 4 May - Company has informed about Transcript of Earnings Call
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.