Is Ceat a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Ceat Ltd is a average quality company .

Is Ceat undervalued or overvalued?

The key valuation ratios of Ceat Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone .

What is Ceat share price return in the past 10 years?

Ceat Ltd share price has appreciated 12.7% annually (CAGR) over the past ten years.

Is Ceat a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Ceat Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

Ceat Ltd - Stock Valuation and Financial Performance

Name: Ceat
Brand: Ceat

BSE: 500878 | NSE: CEATLTD | Tyres & Allied | Small Cap

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CEAT Share Price

₹2,871 85.05 3.05%
as on 07-Nov'24 00:00

10 Year X-Ray of CEAT:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis ^P

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
ROCE % ⓘ	26.1%	29.3%	19.5%	16%	13.3%	10.2%	13.8%	5.8%	9.7%	20.7%	-
Value Creation Index ⓘ	0.9	1.1	0.4	0.2	-0.1	-0.3	0.0	-0.6	-0.3	0.5	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	5,541	5,455	5,702	6,213	6,831	6,748	7,573	9,313	11,263	11,893	12,395
Sales YoY Gr.	-	-1.6%	4.5%	9%	10%	-1.2%	12.2%	23%	21%	5.6%	-
Adj EPS ⓘ	76.2	111.9	92.3	73.3	75.2	60.5	109.6	17.4	56.7	169.1	143.8
YoY Gr.	-	46.8%	-17.5%	-20.6%	2.6%	-19.5%	81.3%	-84.2%	226.2%	198.3%	-
BVPS (₹) ⓘ	395.2	481.8	570.1	629.6	680.1	682.5	782.4	778.8	827.1	976.8	1,018.7
Adj Net Profit ⓘ	308	453	373	296	304	245	443	70.3	229	684	581
Cash Flow from Ops. ⓘ	705	719	344	744	533	968	1,351	632	1,215	1,724	-
Debt/CF from Ops. ⓘ	1.1	0.9	2.3	0.9	2.4	2	1	3.3	1.7	0.9	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	8.9%	11.7%	16.2%	5.6%
Adj EPS ⓘ	9.3%	17.6%	15.5%	198.3%
BVPSⓘ	10.6%	7.5%	7.7%	18.1%
Share Price	12.7%	23.9%	31.2%	36.8%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Return on Equity % ⓘ	24	25.5	17.6	12.2	11.5	8.9	15	2.2	7.1	18.8	14.4
Op. Profit Mgn % ⓘ	11.8	14.7	11.8	10.1	9.5	10.7	12.7	7.6	8.7	13.9	12.6
Net Profit Mgn % ⓘ	5.6	8.3	6.6	4.8	4.5	3.6	5.9	0.8	2	5.8	4.7
Debt to Equity ⓘ	0.5	0.3	0.3	0.3	0.5	0.7	0.4	0.7	0.6	0.4	0.2
Working Cap Days ⓘ	93	88	93	102	103	106	99	97	87	82	42
Cash Conv. Cycle ⓘ	32	24	28	32	30	20	3	5	0	-9	-25

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 14.40%

Sales growth is growing at healthy rate in last 3 years 16.24%

Net Profit is growing at healthy rate in last 3 years 15.54%

Debt to equity has declined versus last 3 years average to 0.40

Sales growth is not so good in last 4 quarters at 7.42%

Latest Financials - Ceat Ltd.

	Standalone	Consolidated
TTM EPS (₹)	143.8	140
TTM Sales (₹ Cr.)	12,395	12,452
BVPS (₹.) ⓘ	1,018.7	1,038.4
Reserves (₹ Cr.) ⓘ	4,080	4,160
P/BV ⓘ	2.74	2.69
PE ⓘ	19.40	19.93

From the Market
52 Week Low / High (₹)	2069.40 / 3262.20
All Time Low / High (₹)	13.42 / 3262.20
Market Cap (₹ Cr.)	11,282
Equity (₹ Cr.)	40.5
Face Value (₹)	10
Industry PE ⓘ	27.8

Management X-Ray of CEAT:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of CEAT

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Price Chart

Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of CEAT

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Sales	5,541	5,455	5,702	6,213	6,831	6,748	7,573	9,313	11,263	11,893
Operating Expenses ⓘ	4,893	4,656	5,035	5,595	6,192	6,030	6,620	8,615	10,288	10,238
Manufacturing Costs	567	631	663	648	735	653	709	826	907	936
Material Costs	3,435	3,090	3,375	3,804	4,140	3,905	4,251	6,012	7,356	6,896
Employee Cost	350	369	384	413	492	534	667	684	725	834
Other Costs ⓘ	541	566	613	730	825	937	992	1,093	1,299	1,572
Operating Profit ⓘ	648	799	667	618	639	718	953	697	975	1,655
Operating Profit Margin (%)	11.7%	14.7%	11.7%	9.9%	9.4%	10.6%	12.6%	7.5%	8.7%	13.9%
Other Income ⓘ	29	46	42	72	57	33	56	32	41	27
Interest ⓘ	141	99	87	92	68	152	176	204	239	266
Depreciation ⓘ	88	107	142	162	174	277	340	435	469	508
Exceptional Items ⓘ	-6	-11	-13	-26	-44	-30	-34	-13	-33	-43
Profit Before Tax ⓘ	443	628	467	410	410	292	459	77	274	865
Tax ⓘ	144	183	104	131	121	68	45	23	68	211
Profit After Tax	299	445	363	279	289	225	414	54	206	654
PAT Margin (%)	5.4%	8.2%	6.4%	4.5%	4.2%	3.3%	5.5%	0.6%	1.8%	5.5%
Adjusted EPS (₹)	73.9	110.1	89.7	68.9	71.4	55.5	102.3	13.4	51.0	161.8
Dividend Payout Ratio (%)	14%	10%	13%	17%	17%	22%	18%	22%	24%	19%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Equity and Liabilities
Shareholders Fund	1,599	1,949	2,306	2,547	2,751	2,761	3,165	3,150	3,346	3,951
Share Capital ⓘ	40	40	40	40	40	40	40	40	40	40
Reserves ⓘ	1,558	1,909	2,266	2,506	2,711	2,720	3,124	3,110	3,305	3,911
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	611	609	762	416	1,217	1,856	1,342	1,933	1,661	1,259
Long Term Debt	354	587	704	272	1,003	1,641	1,341	1,719	1,441	957
Short Term Debt	257	22	58	144	214	216	1	214	220	302
Trade Payables	633	631	750	846	1,034	1,191	1,836	2,155	2,271	2,333
Others Liabilities ⓘ	793	704	726	961	1,060	1,324	1,579	1,729	2,193	2,286
Total Liabilities ⓘ	3,636	3,893	4,543	4,769	6,062	7,133	7,921	8,968	9,470	9,829
Fixed Assets
Gross Block	2,311	2,081	2,655	2,858	3,406	4,979	5,921	6,765	7,969	8,611
Accumulated Depreciation	829	106	247	393	560	820	1,158	1,437	1,873	2,364
Net Fixed Assetsⓘ	1,481	1,975	2,409	2,465	2,846	4,160	4,763	5,329	6,096	6,246
CWIP ⓘ	164	213	49	162	749	1,002	728	808	537	684
Investmentsⓘ	437	224	259	320	313	111	118	126	130	156
Inventories	642	619	923	755	965	911	1,113	1,287	1,124	1,134
Trade Receivables	667	578	592	712	726	664	922	1,153	1,303	1,276
Cash Equivalents	62	24	17	73	60	29	26	17	53	35
Others Assetsⓘ	183	259	294	282	402	256	252	248	227	298
Total Assets ⓘ	3,636	3,893	4,543	4,769	6,062	7,133	7,921	8,968	9,470	9,829

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Cash Flow From Operating Activity ⓘ	705	718	344	744	533	968	1,351	632	1,215	1,724
PBT ⓘ	443	628	467	410	410	292	459	77	274	865
Adjustment ⓘ	199	171	197	217	207	418	508	628	685	754
Changes in Working Capital ⓘ	164	84	-220	213	-6	272	430	-58	212	262
Tax Paid ⓘ	-100	-164	-99	-96	-78	-15	-46	-15	44	-158
Cash Flow From Investing Activity ⓘ	-259	-412	-419	-420	-1,052	-1,128	-626	-950	-860	-874
Capex	-263	-598	-399	-404	-1,062	-1,163	-642	-956	-888	-866
Net Investments	-5	175	-29	35	41	-4	-7	-7	-3	0
Others ⓘ	9	11	10	-52	-31	39	23	13	31	-8
Cash Flow From Financing Activityⓘ	-177	-339	78	-269	504	126	-728	311	-318	-868
Net Proceeds from Shares ⓘ	400	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	-55	185	136	-220	549	419	-296	461	-12	-555
Interest Paid ⓘ	-140	-98	-81	-82	-63	-135	-160	-191	-206	-255
Dividend Paid ⓘ	-36	-86	-1	-47	-44	-96	0	-75	-13	-49
Others ⓘ	-346	-340	24	80	62	-62	-271	117	-88	-9
Net Cash Flow ⓘ	269	-33	3	55	-15	-34	-3	-7	37	-18

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Ratios
ROE (%)	23.31	25.1	17.05	11.49	10.91	8.15	13.96	1.72	6.35	17.93
ROCE (%)	26.08	29.34	19.48	16	13.26	10.23	13.76	5.75	9.65	20.65
Asset Turnover Ratio	1.75	1.63	1.51	1.37	1.26	1.02	1.01	1.1	1.22	1.23
PAT to CFO Conversion(x)	2.36	1.61	0.95	2.67	1.84	4.3	3.26	11.7	5.9	2.64
Working Capital Days
Receivable Days	41	37	33	37	38	38	38	41	40	40
Inventory Days	40	38	44	48	46	51	49	47	39	35
Payable Days	69	75	75	77	83	104	130	121	110	122

Ceat Ltd Stock News

Ceat Ltd FAQs

What is the share price of CEAT?

Company share prices are keep on changing according to the market conditions. The closing price of CEAT on 07-Nov-2024 00:00 is ₹2,871.

What is the market cap of CEAT?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 07-Nov-2024 00:00 the market cap of CEAT stood at ₹11,281.9.

What is the P/E ratio of CEAT?

The latest P/E ratio of CEAT as of 07-Nov-2024 00:00 is 19.40.

What is the P/B ratio of CEAT?

The latest P/B ratio of CEAT as of 07-Nov-2024 00:00 is 2.74.

What is the 52-week high and low of CEAT?

The 52-week high of CEAT is ₹3,262.2 and the 52-week low is ₹2,069.4.

What is the TTM revenue of CEAT?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of CEAT is ₹12,395 ( Cr.) .

About Ceat Ltd

Founded in 1958, CEAT is one of India’s leading tyre brands and the flagship company of the RPG GROUP. Driven by the purpose of helping the world move safely and smartly, CEAT provides world-class products and services across many countries.

On the back of its innovative and agile methods and the drive to experiment, the company has become one of the largest Indian manufacturer of high-performance tyres for all vehicle segments. It seeks to sustain growth and deliver future-ready products and solutions that are safer, smarter and better in every respect.

The company builds best-in-class products through a culture of continuous innovation. The company’s tyres are durable and provide a secure grip, thereby ensuring the safety of its customers on the road, every day. The company is expanding its reach and distribution, introducing differentiated products and creating strong brand associations and social media presence.

Business area of the company

The Company is primarily engaged in business of manufacturing and sales of Automotive Tyres, Tubes & Flaps

Products

Passenger Car Tyres
Two Wheeler Tyres
Truck-Bus Radial Tyres
Off-Highway Tyres
Light Commercial Vehicle Tyres
Last Mile Tyres

Awards and recognitions

Bagged Campaign India Digital Crest Award 2019 for Leveraging Blockchain Technology to Reduce Ad Fraud.
Recognised amongst the top 30 manufacturing workplaces in India by Great Place to Work institute.
Top Export Award by All India Rubber Industries Association for Excellence in Export for FY 2018-19.
Won prestigious CII Award for the Most Innovative Business Practice in Customer Experience for e-Claim.
Bagged TISS Leapvault CLO Award for Learning & Development (L&D) Team of the Year and Best Diversity & Inclusion Training Programme.
Awarded Silver for the Bachao Tyre Exchange Offer campaign in exchange4media Prime Time Awards.
Awarded for Best Innovation in Employee Engagement and Best Use of Technology and Employee Engagement at Employee Engagement Summit and Awards 2020.
Awarded Gold in Best Use of AI/ML category and Silver in Best Use of Technology category at the ET DigiPlus Awards.
Awarded for Best Risk Management Framework and Systems in Auto Ancillary segment from CNBC-TV18.
Awarded as the Best Investor Relations Team for the second year in a row by IR Magazine and Forum.
Ranked among top 20 companies having innovative diversity policies and practices by DivHERsity Award 2020.
Ranked 35th amongst India’s 100 best companies to work for by the Great Place to Work Institute.

Milestones

1958: CEAT was founded with its headquarter in Mumbai.
1972: Research and Development Unit was set up at the company’s Bhandup works. Various type of testing machineries were installed in the laboratories.
1982: The RPG group took over the control of CEAT Tyres in India.
1990: The company was rechristened as CEAT.
2008: CEAT logo was refreshed to align with its new vision.
2009: Halol Plant operation (Primarily Passenger and Truck-Bus Radial Tyres) started.
2012: Worldwide right of CEAT acquired from Pirelli.
2016: Europe PCR Launch entered Italy and Spain with its newly developed.
2016: Nagpur plant (Primarily two Wheeler plant) operation started.
2017: 1st Indian company to receive Deming Award and received JD power Award for customer satisfaction.
2017: Ambernath Plant (Primarily off Radial -Highway Tyres) operation started.
2019: Expanded Truck-Bus Radial Tyres capacity at Halol Plant.
2020: Chennai Plant (Primarily Passenger Radial plant) operation started.