āagman

CEAT Ltd

NSE: CEATLTD
₹3,206.20
−₹84.30 (−2.56%)
NSE · 21 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹13,328 Cr
CMP
₹3,206.20
52-wk High / Low
₹4,438 / 3,061
P/E
23.3
P/B
2.7
Book Value
₹1,226.0
Div Yield
1.06%
ROCE
19.0%
ROE
16.1%
Face Value
₹10
D/E
0.65

Price−9.8% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 14 quarters of filings. Not reported by the company.
As of 21 Oct 2026
How we compute these
Piotroski F-Score
1
/ 9
1 of 9 F-score tests passed
Graham Number
₹1,875
√(22.5 × EPS × book value per share)
ROIC
11.7%
vs 11.5% sector median
Cash flow to profit
2.56
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−373
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
12.1%
ROE × earnings retention ratio
ROE stability
3.9
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −0.41DII +1.07
Latest quarter vs the previous one
Cash-accrual divergence
−8.7%
of assets
Low = accruals track cash flow
Strengths
+PE of 23.3x is below the sector median of 37.3x
Watch-outs
−Borrowings are up 513.1% since FY2016 (663 to 4065)
−Price trades below its 200-day moving average (0.9x)
−Piotroski F-Score of 1/9 is in the weak band (≤3)

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Sep 2026
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales3,0532,9632,9923,1933,3053,3003,4213,5293,7734,1574,2194,3184,762
Expenses2,5972,5462,6002,8102,9422,9593,0333,1423,2703,5943,6263,9534,305
Operating Profit456418392383362341388387503563593365457
OPM %14.9%14.1%13.1%12.0%11.0%10.3%11.3%11.0%13.3%13.5%14.1%8.5%9.6%
Other Income103−551433−3324−5216−1−8
Interest7266626266757482871058514687
Depreciation124127136132137141152151174188184186193
Profit before tax27022813920316212812915624621834032169
Net Profit20818110215412197991121861552444112
EPS (₹)51.4244.8726.8438.1130.1324.0124.6027.6945.9838.5160.320.9927.69

Profit & Loss

As of 30 Sep 2026
Consolidated · ₹ Cr · 13 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTMSep 2026TTM
Sales5,7055,4845,7666,2826,9856,7797,6109,36311,31511,94313,21815,67816,467—17,456
Expenses5,0134,6945,0965,6526,3326,0526,6178,64310,34110,29111,74213,61414,442—15,478
Operating Profit6927896706306527279937219741,6531,4752,0642,025—1,978
OPM %12.1%14.4%11.6%10.0%9.3%10.7%13.0%7.7%8.6%13.8%11.2%13.2%12.3%—11.3%
Other Income1672891081017−8−188−31−33—−45
Interest1421019010493154179207242269278359423—423
Depreciation93108143169193277340435469509563697732—751
Profit before tax47258746636737630448495254857643976837—759
Net Profit31443635923325123043271182635471697589—515
EPS (₹)78.41108.1789.2858.8362.3557.17106.8117.6046.02158.87116.85172.56145.79—127.51

Balance Sheet

As of 30 Sep 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026Sep 2026Sep 2026
Equity Capital404040404040404040404040—40—
Reserves1,6422,0142,3742,5662,7262,8673,2763,2323,3994,0024,3285,006—4,921—
Borrowings7756639248721,4982,0351,5332,2292,2951,7922,1363,272—4,065—
Other Liabilities1,3651,3901,5781,6692,1402,4233,2843,6583,8914,1604,7075,584—6,035—
Total Liabilities3,8224,1084,9175,1466,4047,3668,1339,1609,6279,99411,21213,902—15,061—
Fixed Assets1,5812,0322,4532,7093,1804,1604,7635,3296,0966,2716,9848,439—8,552—
CWIP2292993263108331,069793876596684538638—931—
Investments312195232214181184210179170182190222—195—
Other Assets1,7001,5811,9071,9142,2101,9542,3672,7752,7652,8583,5014,604—5,383—
Total Assets3,8224,1084,9175,1466,4047,3668,1339,1609,6279,99411,21213,902—15,061—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity7497023356725619561,3586191,2051,7191,0921,786
Cash from Investing Activity−253−433−543−412−1,060−1,076−618−944−849−854−922−2,271
Cash from Financing Activity−194−326219−20248479−731313−320−871−177477
Net Cash Flow301−571058−15−409−1237−5−7−8

Ratios

As of 31 Mar 2026
12 periods
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %26.027.019.015.013.010.014.06.09.020.015.019.0
ROE %———————————16.1
EPS (₹)78.41108.1789.2858.8362.3557.17106.8117.6046.02158.87116.85127.51
Book Value (₹)———————————1,226.0
Face Value (₹)———————————10
P/E———————————23.3
Div Yield %———————————1.06
NPM %5.57.96.23.73.63.45.70.81.65.33.64.5
OPM %12.014.012.010.09.011.013.08.09.014.011.013.0
D/E0.460.320.380.330.540.700.460.680.670.440.490.65
P/B———————————2.7

Growth

As of 18 Oct 2026
Compounded sales growth
10 years+11.0%
5 years+16.0%
3 years+11.0%
TTM+24.0%
Compounded profit growth
10 years+5.0%
5 years+10.0%
3 years+54.0%
TTM+9.0%
Stock price CAGR
10 years+10.0%
5 years+20.0%
3 years+15.0%
Last year−12.0%
Return on equity
10 years12.0%
5 years12.0%
3 years15.0%
Last year16.0%

Shareholding pattern

As of 30 Sep 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters50.76%50.76%47.21%47.21%47.21%47.21%47.21%47.21%47.21%47.21%47.21%47.29%47.29%47.29%
FIIs23.91%23.91%19.99%20.16%18.76%16.65%15.83%15.28%17.39%16.21%16.92%16.55%13.82%13.41%
DIIs7.51%7.51%14.29%15.91%17.09%19.75%20.54%21.52%20.07%21.05%20.48%20.90%22.19%23.26%
Government0.02%0.02%————————————
Public17.79%17.79%18.50%16.73%16.93%16.39%16.41%15.99%15.33%15.38%15.12%14.99%16.42%15.69%
No. of shareholders60,17560,1751,16,5091,14,3971,38,3151,43,0631,56,3331,57,2851,41,6611,36,2331,35,2901,36,3741,48,9901,42,260
Change since Jun 2023 (pp)
Promoters −3.47FIIs −10.50DIIs +15.75Public −2.10

Documents

As of 18 Oct 2026
Announcements
Announcement under Regulation 30 (LODR)-Newspaper PublicationAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeAnnouncement under Regulation 30 (LODR)-Investor PresentationAmendment To Policy(Ies)Announcement under Regulation 30 (LODR)-Change in Management
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Oct 2026PPTOct 2026RecordingJul 2026TranscriptJul 2026PPTJul 2026RecordingMay 2026PPTApr 2026TranscriptApr 2026PPTJan 2026TranscriptJan 2026PPTJan 2026Recording

Corporate actions

As of 31 Jul 2026
31 Jul 2026DIVIDENDDividend - Rs 35 Per Share—
8 Aug 2025DIVIDENDDividend - Rs 30 Per Share—
9 Aug 2024DIVIDENDAnnual General Meeting/Dividend - Rs 30 Per Share—
20 Jun 2023DIVIDENDDividend - Rs 12 Per Share—
10 Jun 2022DIVIDENDDividend - Rs 3 Per Share—
27 Aug 2021DIVIDEND Dividend - Rs 18 Per Share—
19 Mar 2020DIVIDEND Interim Dividend - Rs 12 Per Share—
18 Jul 2019DIVIDEND Annual General Meeting/Dividend - Rs 12 Per Share—
10 Jul 2018DIVIDEND Annual General Meeting/Dividend- Rs 11.50 Per Share—
28 Jul 2017DIVIDEND Annual General Meeting/Dividend - Rs 11.50 Per Share—
22 Mar 2016DIVIDEND Interim Dividend - Rs 11.50/- Per Share (Purpose Revised)—
3 Aug 2015DIVIDENDAnnual General Meeting/ Dividend - Rs 10/- Per Share—
17 Sep 2014DIVIDENDAnnual General Meeting And Dividend Rs.10/- Per Share—
12 Aug 2013DIVIDENDAnnual General Meeting And Dividend Rs.4/- Per Share (Bc Dates Revised)—
25 Jul 2012DIVIDENDAnnual General Meeting And Dividend Re.1/- Per Share—
10 Aug 2011DIVIDENDAnnual General Meeting And Dividend Rs.2/- Per Share—
14 Jul 2010DIVIDENDAnnual General Meeting And Dividend Rs.4/- Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges.© 2026 āagman