CEAT Limited (IN:CEATLTD)
:CEATLTD
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CEAT Limited
(CEATLTD)
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Rating:60Neutral
Price Target:
₹3,620.00
▼(-6.99% Downside)
Action:Reiterated
Date:05/01/26
The score is primarily supported by improving financial performance and steady revenue growth, but is held back by inconsistent free-cash-flow generation, rising leverage in 2026, and a weak technical trend with the stock trading below key moving averages. Valuation is mid-range with a low dividend yield.
Positive Factors
Consistent revenue growth
Multi-year top-line expansion demonstrates durable demand across OEM and replacement channels, enabling scale benefits and stronger supplier/partner relationships. Sustained revenue growth supports capacity utilization and long-term investment in product development and distribution capabilities.
Negative Factors
Rising leverage
A sharp year-over-year increase in total debt reduces financial flexibility and raises interest burden risk. Higher leverage limits ability to absorb demand shocks or fund opportunistic capex organically, increasing the company’s sensitivity to rate moves and cyclicality over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent revenue growth
Multi-year top-line expansion demonstrates durable demand across OEM and replacement channels, enabling scale benefits and stronger supplier/partner relationships. Sustained revenue growth supports capacity utilization and long-term investment in product development and distribution capabilities.
Read all positive factors
CEAT Limited (CEATLTD) vs. iShares MSCI India ETF (INDA)
Market Cap
₹128.06B
Dividend Yield0.77%
Average Volume (3M)5.34K
Price to Earnings (P/E)14.0
Beta (1Y)1.14
Revenue Growth18.61%
EPS Growth47.83%
CountryIN
Employees10,000
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)122.60
Shares Outstanding40,450,092
10 Day Avg. Volume5,948
30 Day Avg. Volume5,340
Financial Highlights & Ratios
PEG Ratio0.39
Price to Book (P/B)2.60
Price to Sales (P/S)0.84
P/FCF Ratio37.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹4,228.00Price Target Upside8.64% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)173.44
Revenue Forecast (FY)₹180.39B
CEAT Limited Business Overview & Revenue Model
Company Description
CEAT Limited manufactures and sells automotive tires, tubes, and flaps in India and internationally. The company offers rubber tires and tubes for scooters, bikes, three wheelers, cars, buses, LCVs, trucks, and tractors. CEAT Limited also exports ...
How the Company Makes Money
CEAT makes money primarily by selling tyres across multiple vehicle categories. Its revenues are generated through two main channels: (1) OEM supply, where CEAT sells tyres directly to vehicle manufacturers for fitment on new vehicles, and (2) the...
CEAT Limited Financial Statement Overview
Summary
Income Statement
67
Positive
Balance Sheet
64
Positive
Cash Flow
61
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 140.23B | 156.78B | 132.18B | 119.43B | 113.15B | 93.63B |
| Gross Profit | 47.94B | 44.07B | 48.76B | 49.08B | 38.33B | 32.52B |
| EBITDA | 15.31B | 20.47B | 13.52B | 15.45B | 8.56B | 6.04B |
| Net Income | 4.95B | 6.98B | 4.73B | 6.43B | 1.86B | 712.00M |
Balance Sheet | ||||||
| Total Assets | 131.02B | 139.02B | 112.12B | 99.94B | 96.28B | 91.60B |
| Cash, Cash Equivalents and Short-Term Investments | 808.80M | 2.92B | 496.40M | 565.90M | 689.90M | 326.40M |
| Total Debt | 31.14B | 32.72B | 21.36B | 17.91B | 22.95B | 22.29B |
| Total Liabilities | 85.22B | 88.48B | 68.36B | 59.42B | 61.71B | 58.64B |
| Stockholders Equity | 45.72B | 50.46B | 43.69B | 40.43B | 34.40B | 32.73B |
Cash Flow | ||||||
| Free Cash Flow | 4.55B | 3.54B | 1.49B | 8.52B | 3.26B | -3.40B |
| Operating Cash Flow | 8.74B | 15.01B | 10.92B | 17.19B | 12.05B | 6.19B |
| Investing Cash Flow | -15.13B | -22.97B | -9.22B | -8.54B | -8.49B | -9.44B |
| Financing Cash Flow | 6.67B | 7.88B | -1.77B | -8.71B | -3.20B | 3.13B |
CEAT Limited Technical Analysis
Negative
3891.85
Price Trends
3454.41
Negative
3630.49
Negative
3610.74
Negative
Market Momentum
-104.54
Positive
38.92
Neutral
20.19
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:CEATLTD, the sentiment is Negative. The current price of 3891.85 is above the 20-day moving average (MA) of 3394.44, above the 50-day MA of 3454.41, and above the 200-day MA of 3610.74, indicating a bearish trend. The MACD of -104.54 indicates Positive momentum. The RSI at 38.92 is Neutral, neither overbought nor oversold. The STOCH value of 20.19 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:CEATLTD.
CEAT Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | ₹538.97B | 19.40 | ― | 0.15% | 10.64% | 29.47% | |
62 Neutral | ₹238.80B | 19.04 | ― | 0.98% | 8.98% | 22.59% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | ₹288.57B | 28.65 | ― | 0.54% | 4.39% | 7.42% | |
60 Neutral | ₹128.06B | 14.02 | ― | 0.77% | 18.61% | 47.83% | |
56 Neutral | ₹104.03B | 17.24 | ― | 0.59% | 8.40% | 16.49% | |
53 Neutral | ₹27.46B | 72.23 | ― | 0.40% | 8.75% | 28.53% |
* Consumer Cyclical Sector Average
IN:CEATLTD
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CEAT Limited Corporate Events
CEAT Board Clears FY26 Results, Steep Dividend and Future Credit Line
Apr 28, 2026
CEAT Limited’s board has approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, with the statutory auditor issuing an unmodified opinion. The board has also recommended a dividend of...
CEAT clears FY26 results, hefty dividend and governance code changes
Apr 28, 2026
CEAT Limited’s board has approved the audited standalone and consolidated financial results for the quarter and year ended 31 March 2026, with the statutory auditors issuing unmodified opinions. The board has also recommended a dividend of R...
CEAT Flags ₹4.7 Crore GST Demand, Sees No Material Impact
Mar 30, 2026
CEAT Limited has disclosed that the GST State Tax Officer in Chennai has raised a demand of ₹4.7 crore for FY 2019-20, along with an equivalent penalty of ₹4.7 crore and applicable interest, alleging ineligible availment and utilisatio...
CEAT Receives Voluntary ESG Rating of 71.9 for FY 2025
Mar 19, 2026
CEAT Limited has disclosed that SES ESG Research Pvt. Ltd. has voluntarily assigned it an overall environmental, social and governance rating of 71.9 for fiscal year 2025. The rating, based solely on publicly available information, offers investor...
CEAT Reports Loss of Share Certificates, Initiates Duplicate Issuance Process
Mar 19, 2026
CEAT Limited has reported to the National Stock Exchange of India and BSE that certain physical share certificates have been reported lost by a shareholder, and its registrar NSDL Database Management has initiated the formal process for issuing du...
CEAT Notifies Exchanges of Loss of Physical Share Certificates
Mar 17, 2026
CEAT Limited has informed the stock exchanges about a reported loss of certain physical share certificates, as communicated by its registrar and transfer agent, NSDL Database Management Limited. The company has submitted this intimation to the exc...
CEAT Discloses Loss of Physical Share Certificates to Stock Exchanges
Mar 16, 2026
CEAT Limited has informed the stock exchanges about the reported loss of certain physical share certificates, as communicated to it by NSDL Database Management Limited, the company’s registrar and transfer agent. The disclosure is largely pr...
CEAT Receives 69 ESG Score in 2025 S&P Global Sustainability Assessment
Feb 25, 2026
CEAT Limited has disclosed that it received a score of 69 in the 2025 SP Global Corporate Sustainability Assessment, reflecting an external evaluation of its environmental, social and governance practices. The ESG score provides investors and othe...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.