Ceat Ltd

Meeting Details

• Date and time: October 15, 2026 at 4:00 pm IST.
• Type and mode: earnings call (group), virtual.
• Event/organiser: Earnings call for Ceat Q2 FY27 results (unaudited for period ended Sep 30, 2026).
• Key company participant: Company Secretary.
• Recording availability: audio recording available on company website.
• Transcript availability: transcript will be uploaded subsequently.

Business overview

• CEAT is a tyre manufacturer focused on replacement, OEM, and exports.
• Product mix: 50% replacement, 30% OEM, 20% exports.
• International business expansion supported by price hikes across segments.

Key operational highlights

• Consolidated Q2 revenue Rs 4,762 Cr; QoQ +10.3%, YoY +26.2%.
• Capex for quarter Rs 493 Cr; working capital up Rs 258 Cr.
• Sri Lanka JV equity method; equity accounting impact noted.
• RM costs rose in high single digits; gross margin contracted YoY.

Financial performance

• Consolidated EBITDA Rs 452 Cr; margin 9.5%; QoQ +94 bps, YoY -403 bps.
• PAT Rs 112 Cr; PBT Rs 165 Cr.
• Standalone revenue Rs 4,548 Cr; EBITDA Rs 461 Cr; PAT Rs 164 Cr.
• Gross margin Consolidated 34.6%; YoY contraction.

Capital structure & liquidity

• Debt Rs 3,846 Cr; D/E 0.77x; D/EBITDA 1.93x.
• Capex outflow Rs 493 Cr; working capital up Rs 258 Cr.

Strategic priorities & outlook

• Continued international market expansion; price hikes across segments implemented.
• OEM growth and realization improvements supported by product mix.

Risks & governance

• RM inflation driving margin pressure; YoY gross margin contraction.
• No governance changes disclosed in this chunk.

Board actions

• Unaudited standalone and consolidated financial results for the quarter ended 30-Sep-2026 approved.

Consolidated highlights

• Consolidated revenue Rs 4,762 crore; PAT Rs 112 crore; YoY growth 26%.
• Consolidated EBITDA margin 9.5%.

Standalone highlights

• Standalone revenue Rs 4,548 crore; PAT Rs 164 crore; EBITDA margin 10.14%.

Governance

• Mr. Sumeet Narang appointed Additional Director (Non-Executive, Independent) for five years.
• Subject to shareholders' approval.

Policy & disclosures

• Amended Related Party Transactions policy to be available on the company website.
• Trading window opens 48 hours after results.

Outlook

• Outlook: expects double-digit revenue growth in H2; plans calibrated pricing amid elevated commodity costs.

Capital expenditure

• Capex near ₹490 crore; debt rose due to capacity expansion.

Loss of share certificates

• CEAT Limited reports loss/misplacement of share certificates and seeks duplicate issuance.
• NSDL and the stock exchanges are notified to issue notices to members and monitor transactions.
• Folio ZVS0005854: holder S M Mehra, 3 shares, Certificate No 31963, Distinctive Nos 4081647-4081649.
• Folio ZVJ0000728: JEEVRAJ M JAIN—joint holder with KEWAL KITAWAT, 79 shares.
• Folio ZVJ0000728: Certificate No 12032; Distinctive Nos 3290311-3290389.
• No date of issue or replacement timeline provided.
• Notice dated 13 October 2026; digitally signed by NSDL and NSE authorities.
• Company Secretary Gaurav Tongia signed the CEAT letter.
• This is a routine share-register compliance matter.
• No material financial impact disclosed.

Meeting Details

• Date: October 15, 2026; Time: 16:00 IST; Virtual group earnings call.

Participants

• MD & CEO Arnab Banerjee; CFO Kumar Subbiah.

Purpose

• Earnings results discussion for Q2FY27 (period ended Sept 30, 2026).

Additional Notes

• Investor presentation to be shared separately.
• Zoom webinar; registration link provided.

Duplicate certificates update

• Intimation of duplicate share certificates submitted; shares to be credited electronically to demat accounts.
• Pursuant to SEBI circular, credit will occur upon completion of required action.
• ZVS0002104 (Sanjiv Kaushik): new certificate 46467, 29 shares, distinctive numbers 3971246-3971274.
• ZVA0000254 (Arunaben Sudhirbhai Patel): new certificate 46468, 5 shares, distinctive numbers 2898798-2898802.
• ZVN0000371 (Narvirsinh Solanki Jt Holder): new cert 46469, 11 shares, distinctive numbers 27017-27027.
• ZVP0001611 (Pushpa Baxi Jt Holder: Sudesh Kumar Jain): new cert 46470, 11 shares, distinctive numbers 3771106-3771116.
• ZVP0000688 (Pushpa Baxi Jt Holder: Sudesh Kumar Jain): new cert 46471, 10 shares, distinctive numbers 3741823-3741832.

Meeting Details

• Board meeting scheduled for October 14, 2026; time and venue not disclosed.

Key Agenda Items

• Consider and approve unaudited financial results for the period ending September 30, 2026, and record Limited Review Report.

Other Notes

• Trading window closed from October 1, 2026 until 48 hours after results declaration.

Loss of share certificates

• CEAT Ltd reports loss of share certificate for folio ZVS0002104 (SANJIV KAUSHIK), 29 shares.
• Certificate No 28766; Distinctive Nos. 3971246-3971274 associated with the holding.
• Holder has applied to issue duplicate certificates.
• NSDL and exchange notices issued to inform members.

Investment in Tyresnmore via rights issue

• CEAT approved investment up to Rs 460 lakh to subscribe 37,686 Tyresnmore equity shares.
• Rights issue by Tyresnmore Online Private Limited, a wholly owned subsidiary.
• Post-investment CEAT's shareholding in Tyresnmore remains 100%.
• Transaction is related party under Companies Act and SEBI LODR; arm's length terms.
• Allotment latest by Oct 7, 2026.
• Turnover FY2023-24: INR 2,558.64 Lakhs.
• Turnover FY2024-25: INR 3,225.73 Lakhs.
• Turnover FY2025-26: INR 4,329.13 Lakhs.
• Number of shares to be allotted: 37,686.
• Cash consideration via remittance through normal banking channels.

Loan-to-equity conversion

• Conversion executed Sep 23, 2026, converting USD 24.5m of inter-company loan into equity in the WOS.
• Board of Investment (BOI), Sri Lanka approved the conversion.
• Total loan was USD 80m; USD 24.5m converted.
• 12,788,094 ordinary shares issued at LKR 642.67 each.
• CEAT OHT Lanka (Private) Limited turnover INR 4,206 Million.
• Shareholding unchanged; CEAT remains 100% owner.