·         With CAMSO’s equity in EU and North America, CEAT gains access to 40+ global OEMs and premium distributors, accelerating its vision to be a global leader in Off-Highway mobility. 

·         CEAT announces a US$171M investment in Sri Lanka, securing 1,483 jobs and strengthening the nation’s role as a global OHT hub.

Bengaluru – 02^nd September, 2025:  CEAT Limited has made a substantial advancement in its Off-Highway Tyres (OHT) growth strategy by officially acquiring Michelin Group’s CAMSO Construction Compact Line Business, including their Sri Lanka-based Midigama plant and Casting Product plant in Kotugoda. This transaction also grants CEAT global ownership of the CAMSO brand, which will be permanently assigned across categories after a three-year licensing period.

CEAT’s acquisition of CAMSO brand marks a major milestone in its journey to becoming a leading global player in the high-margin OHT segment. Over the past decade, CEAT has built a strong agricultural portfolio, and with CAMSO’s expertise in compact construction equipment tracks and tyres the combined strengths open doors to over 40 global OEMs and premium international OHT distributors. Michelin will exit from the activities related to compact line bias tyres and construction tracks.

H.E. Santosh Jha, High Commissioner of India to Sri Lanka said: “I would like to extend my best wishes to CEAT Limited for its investment in Sri Lanka. India has been the largest source of FDI in Sri Lanka in recent years and I am delighted to see that trend continue.  The deepening of the investment-led partnership between the two countries has been catalyzed by the leadership of both countries. It supports their vision of building a future of shared prosperity for our peoples. With India’s private sector investing in Sri Lanka, I’m confident that the economic & commercial relationship between the two countries will continue to strengthen”.

Arnab Banerjee, MD & CEO, CEAT Limited, said: “The integration of compact construction equipment business and the acquisition of the CAMSO brand is a pivotal step in advancing CEAT’s long-term vision of becoming a significant player in Off Highway mobility. We are confident that our enhanced strengths in products, capabilities, and markets will enable us to enter new geographies, expand our portfolio, and drive sustainable growth in the years ahead.”

The integration of CAMSO’s premium brand and construction compact line manufacturing capabilities into CEAT is a transformative step in our journey,” said Amit Tolani, Chief Executive, CEAT Specialty. Our immediate focus is on seamless transition, ensuring customer satisfaction and further strengthening our operations in Sri Lanka.”

With the Compact Construction Equipment business of CAMSO now part of its portfolio, CEAT moves confidently towards its vision of becoming the world’s most trusted name in Off-Highway Tyres and tracks.

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Commenting on the results as well as the outlook of the business, Mr. Arnab Banerjee, MD & CEO, CEAT Limited, said, “It was a very satisfying top line performance for the quarter and overall, for the year as we managed to deliver a double-digit growth across all key categories and business verticals. We crossed an important milestone of crossing Rs 13,000 crores of revenue during the year. The Replacement segment delivered strong growth consistently during the year and OEM business delivered strong performance in Q4. We managed to deliver improvement in margins in Q4 versus Q3. We look forward to integrating the CAMSO compact construction business with CEAT in the current year.” 

On a standalone basis, the Company’s revenue stood at Rs. 3,413.6 crore, 14.6% Y-o-Y and EBITDA margin stood at 11.6% and net profit was reported at Rs. 100.4 crore.

Mr. Kumar Subbiah, CFO of CEAT Limited, said, “Our operating margins improved in Q4 by over 120 bps, largely driven by favourable revenue mix and result of strong cost controls across the value chain. We incurred capex of Rs 946 crores during the year largely in capacity additions that would prepare us well to deliver our growth plans in FY 26. During the quarter, we incurred Rs 37 crores towards voluntary separation of employees in one of our high-cost factories as part of our continuous effort to keep our manufacturing units cost competitive.”

The Board of Directors at its meeting held today has approved a dividend of Rs 30, i.e. 300% per equity share for FY24-25. This is subject to approval of shareholders.

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On a consolidated basis, the Company’s revenue closed at Rs. 3,299.9 crore, an increase of 11.4% Y-o-Y, EBITDA margin stood at 10.5%. Net profit stood at Rs. 97.0 crore.

Commenting on the results as well asthe outlook of the business, Mr. Arnab Banerjee, MD & CEO, CEAT Limited, said, “We witnessed a strong year-on-year double digit growth, driven by the replacement segment. While the rising raw material costs have impacted our margins, we progressively passed on part of the increase through price increase in select categories during the quarter. The demand continues to remain stable, and our order book pipeline is robust across all segments. Raw material prices look flattish in Q4 and we expect growth momentum to continue.”

On a standalone basis, the Company’s revenue stood at Rs. 3,291.8 crore, 11.6% Y-o-Y and EBITDA margin stood at 10.4% and net profit was reported at Rs. 96.0 crore.

Mr. Kumar Subbiah, CFO of CEAT Limited,said, “The gross margins were impacted during the quarter due to the increase in raw material cost. A part of it we managed through price increase and cost controls. Meanwhile, our capex during the quarter was Rs 283 crores, which were fully funded through internal controls and hence, our debt level has remained at similar level.”

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Consolidated EBITDA Rs. 367.9 crore, Operating margin 11.1%

Bengaluru – 18th October, 2024: CEAT Limited (CIN No: L25100MH1958PLC011041), an RPG Group company, announced its unaudited results for the second quarter ending on 30^th September 2024.

On a consolidated basis, the Company’s revenue closed at Rs. 3,304.5 crore, EBITDA margin stood at 11.1%, a contraction of 102 bps vs Q1 FY24-25. Net profit stood at Rs. 121.5 crore.

Commenting on the results as well as the outlook of the business, Mr. Arnab Banerjee, MD & CEO, CEAT Limited said, “We are pleased to see that we have successfully carried the momentum from Q1 through Q2. This quarter marks our highest revenue ever, driven largely by robust performances in our Replacement and International sectors. While there’s a significant increase in the commodity prices, our margins got impacted during the quarter. We took selective price increases during the quarter that offset part of the cost impact. The revenue outlook remains positive as we enter Q3.”

On a standalone basis, the Company’s revenue stood at Rs. 3,298.1 crore and EBITDA margin stood at 11.1%, a contraction of 93 bps vs Q1 FY24-25. Net profit stood at Rs. 136.5 crore.

Mr. Kumar Subbiah, CFO of CEAT Limited, said, “Our standalone revenue of Rs 3,298 crores during the quarter was the highest that we have achieved so far, supported by double digit growth in Replacement & International businesses. We partially mitigated the impact of steep increase in the prices of natural rubber through judicious price increases and cost efficiencies. This quarter also saw our overall debt level rise by Rs 280 crore, driven in part by increased raw material inventory, necessitated due to increase in transit period on imports and the distribution of dividend in Sept to the tune of Rs 120 crore.”

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