CEAT Management Guidance Tracker

8 forward-looking guidance items tracked across 2 quarters.

Growth

Q3 FY26Replacement growth high single-digit for FY27Tracked

Management expects replacement demand to sustain high single-digit growth through FY27, driven by GST rationalization.

Capex

Q3 FY26Capex guidance of ₹1,000-1,200 crore per annumTracked

Annual capex is expected to move from ₹900-1,000 crore to ₹1,000-1,200 crore from next year, including PCR capacity expansion at Chennai.

Q4 FY26Capex of ₹1,350-1,400 crore for India in FY27Tracked

Planned capex for Indian operations, with Q1 spending kept frugal and scaling up if conditions normalize.

Margins

Q3 FY26CAMSO margin to trend to low double-digit from Q4Active

Reported CAMSO margins should reach double-digit from Q4 onwards as one-time transition costs are eliminated.

Q3 FY26Raw material cost headwind of 1-1.5% in Q4Active

Management expects a 1-1.5% sequential increase in raw material basket cost in Q4 due to currency and natural rubber.

Revenue

Q4 FY26Price hikes of ~10% in replacement by June 2026Active

Management plans to implement ~5% price increase already taken in March-April, with another ~5% staggered through May-June to offset raw material inflation.

Q4 FY26OEM price index hike on July 1, 2026Active

A heavier index-based price increase is expected in OEM segment on July 1, following a smaller hike on April 1.

Expansion

Q4 FY26Camso upstream equipment operational by March 2027Tracked

Mixers and calendars to be installed by end of FY27, completing the value chain and enabling margin improvement from FY28.