NSE: CEATLTD | BSE: 500878

Mid-range Performer

Download real time

3631.00 55.10 (1.54%)

New 52W High today

404.3K NSE+BSE Volume

NSE 07 May, 2025 3:31 PM (IST)

14,687.4

Market Cap

High in industry

Beta 1Year

Average volatility

Index Outperformer

Ceat rises 17.2% over the past week, outperforms the Nifty 50 by 17 percentage points See details

Ceat Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for CEATLTD, BSE:500878 Ceat Ltd.

Ceat Ltd.

20 Jan 2021

3631.00

1.54%

CEAT (SELL): Healthy Q3 but long-term woes remain; maintain SELL

Sell: Ceat Ltd.

BOB Capital Markets Ltd.

CEAT surprised positively on both revenue and earnings in Q3FY21, led by strong replacement demand and above-expected gross margins which could be a function of low-cost inventory.

Ceat Ltd. has gained 45.51% in the last 1 Year

Ceat Ltd.

20 Jan 2021

3631.00

1.54%

Above estimates; beat driven by strong volumes and lower RM cost

Buy: Ceat Ltd.

Target

Motilal Oswal

CEAT's 3QFY21 stellar performance was driven by strong volume growth and lower than estimated RM cost inflation. Strong demand is expected to enable pass-through of RM cost inflation, help utilize recent capacity additions, drive FCF generation, and deleverage the Balance Sheet. We upgrade our FY21E/FY22E EPS by ~21%/14% to factor in expected increase in volume growth and price hikes. We see catalysts in the form of strong demand and robust margin to rollback underperformance in the stock in FY21 YTD. Maintain Buy....

Ceat Ltd. has gained 30.32% in the last 6 Months

Ceat Ltd.

20 Jan 2021

3631.00

1.54%

Q3FY21 Result Update - Outlook intact; Price hikes to offset RM pressure - Accumulate

Accumulate: Ceat Ltd.

Target

Prabhudas Lilladhar

CEAT's 3QFY21 consol results beat our estimates with margin sustaining at 14.8% expanding 440bp YoY (PLe 11.5%), despite RM headwinds (+1.5% increase in RM/kg) and lower replacement mix (~65% v/s ~70% in Q2). With continual healthy growth in replacement segment and likely price rise, we expect margins to remain elevated at 13.5-14% even in 4Q. However, it can normalize at 11.5-12% in FY22/23 led by a) replacement mix normalizing to...

Emkay increased Buy price target of Ceat Ltd. to 4100.0 on 01 May, 2025.

Ceat Ltd.

28 Oct 2020

3631.00

1.54%

Q2FY21 Result Update - Demand outlook positive led by OEM recovery - Accumulate

Accumulate: Ceat Ltd.

Target

Prabhudas Lilladhar

CEAT's 2QFY21 consol results beat estimates with margins expanding by 470bp YoY at 14.8% (PLe 11.6%) led by lower RM basket (-9% YoY), higher replacement mix at 70% (v/s 60% YoY). We expect reversal in margins to normalized levels at 11-12% in 2HFY21 led by a) increased share of OEM in...

Ceat Ltd. has gained 45.51% in the last 1 Year

Ceat Ltd.

22 Sep 2020

3631.00

1.54%

BP Equities CEAT Ltd Initiating Coverage BUY Target 1140 22nd Sept 2020

Buy: Ceat Ltd.

BP Wealth

Emkay increased Buy price target of Ceat Ltd. to 4100.0 on 01 May, 2025.

Ceat Ltd.

01 Sep 2020

3631.00

1.54%

Ceat

Accumulate: Ceat Ltd.

Recommendation Target

Dolat Capital

Ceat Ltd. has an average target of 3382.00 from 6 brokers.

Ceat Ltd.

30 Jul 2020

3631.00

1.54%

Q1FY21 Result Update - Scalability of new launches key; Hold

Hold: Ceat Ltd.

Target

Prabhudas Lilladhar

Did not avail any moratorium concession due to stable liquidity position. CEAT's consolidated performance was better led by higher than expected volumes in the replacement side while pricing remained stable. We expect operating performance to be healthy in near to med term led by better mix...

Ceat Ltd. has gained 18.64% in the last 1 Week

Ceat Ltd.

05 Jun 2020

3631.00

1.54%

EARNINGS UPDATE- CEAT LTD 4QFY20

Sell: Ceat Ltd.

Chola Wealth Direct

Background: CEAT is one among the top four tire manufacturers in India and is a part of the RPG group. The company has a total manufacturing capacity of 0.1mn + tyres/day with plants situated in Nashik, Bhandup (Mumbai),Ambernath, Halol, Nagpur and Sri Lanka. The company manufactures all tires: Truck & Bus (31%), 2W/3W (31%), Passenger vehicles (14%), LCV (11%), Farm (6%), and Specialty (6%). In terms of market, replacement contributed 58% of the sales while OEM and exports make up 27% and 15% of the sales, respectively. CEAT has a robust distribution network consisting of over 4,000+ dealers, 33 regional offices and more than...

Ceat Ltd. has gained 23.91% in the last 3 Months

Ceat Ltd.

30 May 2020

3631.00

1.54%

Q4FY20 Result Update - Soft RM, cost control drive margin beat - Accumulate

Accumulate: Ceat Ltd.

Recommendation Target

Prabhudas Lilladhar

With a bunch of capex behind and a further cut should help FCF to improve. by volume decline as pricing was stable. Margins were better at 12.7% (PLe 7.1%), led by soft RM and cost control initiatives. While we slash FY21/22 revenues by 10.1%/8.6% (to factor in for lower OEM sales and weak replacement sales in CV segment), we upgrade margins by 100bp/80bp due to higher replacement share, lower RM and cost control benefits. This has...

Emkay increased Buy price target of Ceat Ltd. to 4100.0 on 01 May, 2025.

Ceat Ltd.

29 May 2020

3631.00

1.54%

Above est., led by lower RM; RM tailwind to sustain

Buy: Ceat Ltd.

Target

Motilal Oswal

This, coupled with the tax benefit on accumulated loss in the OTR business, offset the impact of Hence, we largely maintain our estimate, which implies ~2%/12%/15% CEATs revenues/EBITDA/PAT grew -11%/23%/-12% YoY in 4QFY20, and growth in FY20 stood at -3%/13%/-15%. However, higher expenses at the new TBR plant, partially offset by lower tax, resulted in 12% YoY decline in adj. For FY21, it should be better for Farm>2W>PC>CV as CVs RM cost would drop as natural rubber/crude prices have declined ~15%/50% from pre-COVID levels; however, the benefit would reflect only FY21 project capex guidance reduced to INR55.5b (v/s earlier guidance of INR810b), plus INR11.5b in maintenance capex. Of the total project cost of ~INR40b for capacity additions, the company has to date It has received approval from NCLT for the merger of the OTR business (100% sub) w.

Ceat Ltd. has gained 26.63% in the last 1 Month

Is Ceat Ltd. worth buying?

259 Votes:

Buy 79.15%

Sell 11.97%

Hold 8.88%

RESEARCH REPORTS

Buy SEE REPORTS >

pdf

Buy SEE REPORTS >

pdf