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Ceat (500878) investor relations material
Ceat Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q2 FY26 consolidated revenue reached Rs. 3,773 crore, up 14.2% year-over-year, driven by strong OEM and international business growth, with net profit at Rs. 185.7 crore.
EBITDA margin improved to 13.5%, supported by lower raw material costs and improved realizations.
Camso acquisition completed and fully integrated, advancing the premium OHT segment and global premiumisation strategy.
Launched India's first passenger car tyre with up to 90% sustainable materials and received multiple ESG recognitions.
Indian car market benefited from GST rate cuts, favorable monsoons, and stable interest rates, boosting demand.
Financial highlights
Gross margin expanded to 40.9% in Q2 FY26, up over 400 bps YoY.
Standalone EBITDA margin at 13.7%; consolidated EBITDA margin at 13.5%, up 250+ bps YoY.
Standalone net profit was Rs. 202.2 crore; consolidated profit at Rs. 185.7 crore, up from Rs. 121.5 crore YoY.
EBITDA for Q2 FY26 was Rs. 510.6 crore, up 38.8% YoY.
Overall volume growth for the quarter exceeded 11%.
Outlook and guidance
Double-digit growth momentum expected to continue, supported by GST reductions and strong demand.
OEM volume growth expected to continue, aided by festive inventory demand.
Raw material costs expected to remain flat in Q3, with some impact from rupee depreciation.
Full integration and value chain control of Camso expected in 5-6 quarters.
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