CEAT LTD. — Q1FY27 earnings call summary

Filed 20 July 2026 · Official transcript

Capex of INR 1,205 Cr approved for 53k 2-wheeler tyre capacity by FY31
Raw material costs expected to rise 8-10% in Q2; commodity volatility linked to West Asia crisis
Management expects demand moderation in Q2 but no sharp decline
Q1 FY27 standalone revenue grew 18.3% y-y; consolidated revenue 22.3% y-y
Standalone EBITDA margin contracted to 9.1% due to 15-16% raw material cost rise
Volume growth: replacement mid-teens, OEM low teens, international ~30% y-y
CAMSO business transitioning; current revenue ~$10m/month; margins negative due to startup costs
Debt-to-EBITDA at 1.6x; consolidated debt INR 3,243 Cr; working capital increased due to inventory