Ceat Ltd. News and Updates

Name: Latest research reports of Ceat Ltd. authored by Prabhudas Lilladhar and published by - Trendlyne research reports.
Item: Ceat Ltd.
Rating: 1
Author: Prabhudas Lilladhar

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Ceat Ltd.

14 Jul 2019

3443.00

0.38%

CEAT Tyres lines up Rs 3,500 crore capex to ramp up production capacity

Business Line

CEAT currently exports tyres to around 100 countries

Number of FII/FPI investors increased from 228 to 291 in Jun 2025 qtr.

Ceat Ltd.

12 Jun 2019

3443.00

0.38%

Analyst Meet Update

Sell: Ceat Ltd.

Recommendation Target

Prabhudas Lilladhar

We attended CEAT's annual Investor day and are downgrading the stock Change in Estimates | Target | Reco from Hold' to Reduce' on account of further downside that we see to margins and rise in debt levels. Given the various capacity expansions (capex of...

Ceat Ltd. has an average target of 3906.60 from 6 brokers.

Ceat Ltd.

12 Jun 2019

3443.00

0.38%

Analyst Meet Update

Sell: Ceat Ltd.

Recommendation Target

Prabhudas Lilladhar

Emkay released a Buy report for Ceat Ltd. with a price target of 4600.0 on 07 Sep, 2025.

Ceat Ltd.

04 Jun 2019

3443.00

0.38%

CEAT Tyres sees revival in replacement segment

Business Line

CEAT Tyres is looking at a 7-8 per cent growth in the current fiscal, as the replacement tyre segment market in passenger cars and two-wheelers starte

Ceat Ltd. has an average target of 3906.60 from 6 brokers.

Ceat Ltd.

09 May 2019

3443.00

0.38%

First Light: CEAT, Mahindra Logistics

Sell: Ceat Ltd.

BOB Capital Markets Ltd.

CEAT's consolidated Q4FY19 revenues grew 5.2% YoY to Rs 17.6bn supported by a ~6% increase in realisations. EBITDA dropped 18% YoY as margins slipped 260bps to 9.2%. A lower tax rate slowed the decline in adj. PAT to 2% YoY at Rs 926mn. As per management, the demand climate remains challenging due to sluggish OEM sales as well as a replacement market slowdown, while rising crude and rubber prices could inflate RM costs. We trim FY20/FY21 EPS by 3%/6% to bake in lower revenues and roll over to a Mar'20 TP of Rs 1,350 (Rs 1,430 earlier)....

Ceat Ltd. is trading above its 200 day SMA of 3218.5

Ceat Ltd.

08 May 2019

3443.00

0.38%

Above est. led by cost control; demand remains weak

Buy: Ceat Ltd.

Target

Motilal Oswal

Earnings call highlights: (a) Price cut of ~1% across products in the replacement segment. (b) Replacement segment remains sluggish. But, industry should grow in single-digits. CEAT hopes to outperform driven by TBR & PCR capacity addition. (c) With inflation in crude and international rubber prices, it expects some cost pressures to reflect in 2QFY20. In a weak demand environment, it sees limited scope for a price hike in the near future, and hence, margins should be under stress. (d) FY20 consol. capex guidance is at INR15-16b (~INR11b in FY19). 2W capacity should start in the...

Number of FII/FPI investors increased from 228 to 291 in Jun 2025 qtr.

Ceat Ltd.

08 May 2019

3443.00

0.38%

Ceat

Buy: Ceat Ltd.

Target

Dolat Capital

CEAT Q4 numbers were broadly in line with estimates. Consolidated revenue grew by 5.2% YoY to ` 17.6bn led by 6% increase in ASP partially offset by 1% de-growth in volume (affected by slowdown in both OEMs and replacement market). EBITDA fell 17.8% YoY to ` 1.62bn with muted margin at 9.2% (+100bps QoQ/-260bps YoY) led by negative operating leverage and higher ad spend. We believe that slowdown in replacement segment would continue in Q1 (especially in CV segment as business at ground level is pretty muted), while OEM production level would further...

Number of FII/FPI investors increased from 228 to 291 in Jun 2025 qtr.

Ceat Ltd.

07 May 2019

3443.00

0.38%

CEAT's profit up 6% at Rs 252.22 crore in FY19, revenue stands at Rs 6,984.51 crore

Business Today

CEAT posted 16.6% y-o-y decline in consolidated net profit at Rs 64.25 cr in Q4FY19; revenue rises 4.4% to Rs 1,760.47 crore versus Rs 1,686.09 crore in Q4FY18

Ceat Ltd. is trading above its 200 day SMA of 3218.5

Ceat Ltd.

30 Jan 2019

3443.00

0.38%

Q3FY19 Result Update - Volume outlook subdued!

Accumulate: Ceat Ltd.

Target

Prabhudas Lilladhar

CEAT's Q3FY19 reported standalone operating margin at 8.3%, down 405bps Change in Estimates | Target | Reco quarter were down 170bp (despite RM/ton up 2% qoq) on account of a finished...

Emkay released a Buy report for Ceat Ltd. with a price target of 4600.0 on 07 Sep, 2025.

Ceat Ltd.

29 Jan 2019

3443.00

0.38%

Weak demand, adverse mix, inventory build-up hurt margins

Economy Update: Ceat Ltd.

Motilal Oswal

revenue grew ~9% YoY (-2% QoQ) to INR17.1b (in-line) in 3QFY19, driven by 2% YoY (-5.4% QoQ) volume growth. The impact of RM cost inflation of 2.1% QoQ was offset by price hike of 2-3%. EBITDA declined 24% YoY (-10% QoQ) to INR1.4b (our impacted by adverse mix and inventory build-up. EBITDA margin contracted 80bp QoQ/360bp YoY to 8.3%, below our estimate of 9.2%. Adj. PAT (a) OEM growth outpaced replacement growth (slowed down in CVs and farm but expected to recover from Mar19) in the quarter. (b) RM cost is likely to gradually decline Mar19 onward, with marginal benefit of lower RM cost in 4Q.

Ceat Ltd. has an average target of 3906.60 from 6 brokers.

Is Ceat Ltd. worth buying?

268 Votes:

Buy 79.1%

Sell 11.94%

Hold 8.96%

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