CEAT

CEAT delivered a strong Q4 FY26 with standalone revenue growing 18.2% YoYCurrent reported value: 18.2% YoY. No comparable prior figure is available in the source record. to ₹4,219Current reported value: 4,219. No comparable prior figure is available in the source record. crore, driven by broad-based demand across replacement, OEM, and international segments. EBITDA margin expanded 299 bps YoYCurrent reported value: 299 bps YoY. No comparable prior figure is available in the source record. to 14.6%, aided by operating leverage and cost control. PAT surged to ₹283.6 croreCurrent reported value: ₹283.6 crore. No comparable prior figure is available in the source record. (vs ₹100.4 crore last year). However, the outlook is clouded by a sharp 15%+ raw material cost inflationCurrent reported value: 15%+ raw material cost inflation. No comparable prior figure is available in the source record. in Q1 FY27, with crude above $100/bbl and natural rubber up 30% QoQ. Management plans 10% price hikes in replacement and index-based OEM increases, but pass-through will lag. The Camso acquisition remains in transition, with full value chain control expected by FY28. Demand moderation is anticipated in H1 due to price hikes, but structural drivers (GST cuts, aging fleet) provide a floor. Key risk: if competitive dynamics delay price hikes, margins could compress significantly.