CEAT reports FY26 revenue of Rs 15,678 Cr, maintains growth momentum
CEAT Limited reported a revenue of Rs 15,678 Cr for FY26, achieving a 5-year revenue CAGR of 15.6%. The company disclosed an EBITDA margin of 13.2% for the fiscal year, alongside a Debt/EBITDA ratio of 1.46x and a Debt/Equity ratio of 0.60x. These financial highlights were shared in the investor presentation for the RPG Annual Investor Conference 2026 scheduled on May 26, 2026. The presentation outlines the company's strategic vision for 2031, including securing the #1 position in the 2W and 4W tyre segments in the aftermarket and achieving a 15% share in Commercial Radials in the India aftermarket. CEAT demonstrated strong growth momentum, with standalone revenue increasing to Rs 15,215 Cr in FY26, up from Rs 7,573 Cr in FY21, positioning the company at #3 in India based on standalone revenue. The company maintained a credit rating of AA with a positive outlook and announced a dividend of 350%. The company is focusing on enhancing profitability through cost optimization measures, with marketing costs increasing slightly to 2.1% in FY26 from 1.9% in FY22, while manpower costs decreased to 7.5% from 7.9% over the same period. The EBITDA gap to peers narrowed significantly to 1.6% in FY26 from a peak of 3.4% in FY24. CEAT is leveraging the CAMSO acquisition to unlock a billion-dollar opportunity, with an integration timeline including deal signing in Dec 2024, production takeover in Sep 2025, sales takeover in Oct 2026, and the complete transfer of the CAMSO brand by Sep 2028.
*this image is generated using AI for illustrative purposes only.
CEAT Limited reported a revenue of Rs 15,678 Cr for FY26, achieving a 5-year revenue CAGR of 15.6%. The company disclosed an EBITDA margin of 13.2% for the fiscal year, alongside a Debt/EBITDA ratio of 1.46x and a Debt/Equity ratio of 0.60x. These financial highlights were shared in the investor presentation for the RPG Annual Investor Conference 2026 scheduled on May 26, 2026.
The presentation, submitted to the exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, outlines the company's strategic vision for 2031. Key targets include securing the #1 position in the 2W and 4W tyre segments in the aftermarket and achieving a 15% share in Commercial Radials in the India aftermarket. CEAT also aims for 33% saliency in its international business.
Financial Performance and Metrics
CEAT demonstrated strong growth momentum, with standalone revenue increasing to Rs 15,215 Cr in FY26, up from Rs 7,573 Cr in FY21. This growth trajectory has positioned the company at #3 in India based on standalone revenue. The company maintained a credit rating of AA with a positive outlook and announced a dividend of 350%.
| Metric | Value |
|---|---|
| FY26 Revenue | Rs 15,678 Cr |
| 5-yr Revenue CAGR | 15.6% |
| FY26 EBITDA | 13.2% |
| Debt / EBITDA | 1.46x |
| Debt / Equity | 0.60x |
| Dividend | 350% |
| Credit Rating | AA (Outlook +ve) |
Strategic Initiatives and Future Growth
The company is focusing on enhancing profitability through cost optimization measures. Marketing costs as a percentage of net sales increased slightly to 2.1% in FY26 from 1.9% in FY22, while manpower costs decreased to 7.5% from 7.9% over the same period. The EBITDA gap to peers narrowed significantly to 1.6% in FY26 from a peak of 3.4% in FY24.
CEAT is leveraging the CAMSO acquisition to unlock a billion-dollar opportunity. The integration timeline includes the completion of deal signing in Dec 2024 and production takeover in Sep 2025. Future milestones involve sales takeover in Oct 2026 and the complete transfer of the CAMSO brand by Sep 2028. The company is also advancing in electrification, premiumization, and digital technologies to drive future growth.
Historical Stock Returns for CEAT
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.74% | -0.31% | +6.74% | -10.36% | -2.32% | +158.30% |
How will CEAT fund the remaining integration milestones for the CAMSO acquisition, and what impact will this have on the current leverage ratios?
What specific cost optimization strategies does CEAT plan to implement to further close the EBITDA gap with peers and potentially expand margins beyond 13.2%?
To what extent will the shift toward electrification and premiumization drive revenue growth in the domestic 2W and 4W segments over the next five years?
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