NSE: CEATLTD | BSE: 500878

Strong Performer, Getting Expensive

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3399.50 -53.50 (-1.55%)

45.09% Gain from 52W Low

63,162 NSE+BSE Volume

NSE 26 Sep, 2025 3:31 PM (IST)

13,751

Market Cap

High in industry

1.0

Beta 1Year

Average volatility

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.

23 Oct 2019

3399.50

-1.55%

CEAT - 2QFY20 Result Update

Sell: Ceat Ltd.

Target

Reliance Securities

Higher Capex and Debt to Impact Profitability CEAT has delivered a strong operating performance in 2QFY20. Its EBIDTA margin was 110bps higher than our estimates, supported by lower commodity cost, while EBIDTA was 14% higher than our estimate. Its volume declined 3% YoY due to subdued sales in OEM segment, flat volumes in replacement and single digit growth in exports. Its consolidated revenue fell by 5% YoY and 4% QoQ to Rs17.5bn. Consolidated EBIDTA declined by 5% YoY (+3% QoQ) to Rs1.7bn, while adjusted PAT fell by 46% YoY as well as 46% QoQ to Rs445mn due to higher depreciation and interest outgo. EBIDTA margin improved 10bps YoY (+53bps QoQ) to 10.1% vs....

Ceat Ltd. is trading above its 200 day SMA of 3228.8

Ceat Ltd.

05 Aug 2019

3399.50

-1.55%

CEAT - 1QFY20 Result Update

Sell: Ceat Ltd.

Recommendation Target

Reliance Securities

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

Ceat Ltd.

12 Jun 2019

3399.50

-1.55%

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. is trading above its 200 day SMA of 3228.8

Ceat Ltd.

12 Jun 2019

3399.50

-1.55%

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.

09 May 2019

3399.50

-1.55%

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)....

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

Ceat Ltd.

08 May 2019

3399.50

-1.55%

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.

08 May 2019

3399.50

-1.55%

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...

Ceat Ltd. is trading below its 100 day SMA of 3529.0

Ceat Ltd.

30 Jan 2019

3399.50

-1.55%

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...

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

Ceat Ltd.

29 Jan 2019

3399.50

-1.55%

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%

RESEARCH REPORTS

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