Slides
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Q2 FY27 | Investor Presentation | 14th October 2026 #RoadToSiberia C - AT A ·t sto ·n Workp ace Safe y. *****
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This presentation may include statements which may constitute forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements about the strategy for growth, business development, market position, expenditures, and financial results, are forward looking statements. Forward looking statements are based on certain assumptions and expectations of future events. The Company cannot guarantee that these assumptions and expectations are accurate or will be realized. The actual results, performance or achievements, could thus differ materially from those projected in any such forward- looking statements. The information contained in these materials has not been independently verified. None of the Company, its Directors, Promoter or affiliates, nor any of its or their respective employees, advisers or representatives or any other person accepts any responsibility or liability whatsoever, whether arising in tort, contract or otherwise, for any errors, omissions or inaccuracies in such information or opinions or for any loss, cost or damage suffered or incurred howsoever arising, directly or indirectly, from any use of this document or its contents or otherwise in connection with this document, and makes no representation or warranty, express or implied, for the contents of this document including its accuracy, fairness, completeness or verification or for any other statement made or purported to be made by any of them, or on behalf of them, and nothing in this document or at this presentation shall be relied upon as a promise or representation in this respect, whether as to the past or the future. The information and opinions contained in this presentation are current, and if not stated otherwise, as of the date of this presentation. The Company undertake no obligation to update or revise any information, or the opinions expressed in this presentation as a result of new information, future events or otherwise. Any opinions or information expressed in this presentation are subject to change without notice. This presentation does not constitute or form part of any offer or invitation or inducement to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of CEAT Limited (the “Company”), nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment, therefore. Any person/ party intending to provide finance / invest in the shares/businesses of the Company shall do so after seeking their own professional advice and after carrying out their own due diligence procedure to ensure that they are making an informed decision. This presentation is strictly confidential and may not be copied or disseminated, in whole or in part, and in any manner or for any purpose. No person is authorized to give any information or to make any representation not contained in or inconsistent with this presentation and if given or made, such information or representation must not be relied upon as having been authorized by any person. Failure to comply with this restriction may constitute a violation of the applicable securities laws. The distribution of this document in certain jurisdictions may be restricted by law and persons into whose possession this presentation comes should inform themselves about and observe any such restrictions. By participating in this presentation or by accepting any copy of the slides presented, you agree to be bound by the foregoing limitations. Disclaimer
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Section 1: RPG Group OverviewRPG Group and CEAT Overview
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RPG Group: Powered by Passion, Driven by Ethics 4 EPC major in infrastructure segments like T&D, Civil, Transportation, Oil & Gas, Renewables & Cables One of India’s leading tyre manufacturers Global technology consulting and IT services company Integrated pharma company in formulations and synthetic APIs Technology solutions company catering to energy and infrastructure One of India’s largest plantation companies producing tea, rubber, etc. RPG Enterprises was founded in 1979. The Group currently operates various businesses in Infrastructure, Technology, Life Sciences, Plantations and Tyre industries. The Group has business history dating back to 1820 in banking, textiles, jute and tea. The Group grew in size and strength with several acquisitions in the 1980s and 1990s. RPG Group is one of India’s fastest growing conglomerates with 31,000+ employees, presence in 135+ countries and annual gross revenues of US$ 5.2 bn. UNLEASHTALENT TOUCHLIVES OUTPERFORM AND ☺ C: AT zensar L Raychem Rr'G R?G LIFE SCIENCES HARR/SONS MALAYALAM LIMITED
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Overview *Consolidated financials 239 Patent Filings Rs. 15,678 Cr Revenue (FY26) 13.2% EBITDA (FY26) 0.77x D/E Ratio (Q2 FY27) AA Credit Rating (outlook +ve) 12k+ Permanent employees 50+ OEM relationships 61k+ Touchpoints Deming Grand recipient in the Tyre industry Light House certified factories by World Economic Forum 2 1st 5 A e-e 0
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Section 1: RPG Group OverviewQ2 FY27 Performance
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Consolidated Financial Performance (1/2) 4,762 4,318 3,773 Q2 FY27 Q1 FY27 Q2 FY26 ▪ Healthy YoY volume and realization growth across segments ▪ Marginal QoQ volume growth led by OEM and International Business segments ▪ International Business continues to grow well, and registered robust growth on both QoQ and YoY basis ▪ Strong realization growth on both sequential and YoY basis, led by price hikes taken across segments Revenue Rs. 4,762 Cr, +10.3% QoQ, +26.2% YoY Rs. Cr Balanced Market Mix1 Replacement Truck & Bus 27% (29%) 2/3W 28% (28%) PC/UV 23% (21%) Off Highway 16% (15%) 50% (52%) OEM Exports 30% (29%) 20% (19%) Diversified Product Mix1 LCV/Others 6% (7%) 1. Standalone revenue breakup for H1 FY27; Figures in parenthesis denote corresponding numbers for H1 FY26 7
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9.5% 8.6% 13.5% Q2 FY27 Q1 FY27 Q2 FY26 ▪ RM basket cost increased by high single digit on sequential basis ▪ Gross margin expanded by 66 bps on QoQ basis, and contracted by 635 bps YoY basis ▪ Other operating costs were managed well; YoY EBITDA margin contraction was primarily driven by RMC pressure EBITDA margin 9.5%, +94 bps QoQ, -403 bps YoY ▪ Capex outflow for the quarter was ~Rs. 493 Cr ▪ Net working capital increased QoQ by ~Rs. 258 Cr ▪ D/E ratio at 0.77x vs 0.65x as of Q1FY27 ▪ D/EBITDA ratio at 1.93x vs 1.58x as of Q1FY271 Debt Rs. 3,846 Cr, D/E 0.77x, Debt/EBITDA 1.93x 3,846 3,243 2,944 Q2 FY27 Q1 FY27 Q2 FY26 Debt Rs. CrEBITDA Margin (%) 8 Consolidated Financial Performance (2/2) 1. Based on Last Twelve Month (LTM) EBITDA
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Consolidated: Summary P&L Notes Figures are as per IND AS Company’s investment in Sri Lanka JV is accounted using Equity method under IND AS which was earlier consolidated using proportionate consolidation method Gross margin includes impact of non-material cost movement of inventory (FG + SFG) EBITDA includes Share of profit from Sri Lanka JV EBITDA does not include Non-operating income All figures in Rs. Cr 9 Parameter Q2 FY27 Q1 FY27 Q2 FY26 QoQ YoY 6M FY27 6M FY26 YoY Revenue from operations 4,762 4,318 3,773 10.3% 26.2% 9,080 7,302 24.3% COGS 3,115 2,854 2,229 9.2% 39.8% 5,969 4,460 33.8% Gross margin 1,646 1,465 1,544 12.4% 6.6% 3,111 2,842 9.5% Gross margin % 34.6% 33.9% 40.9% 66 bps (635) bps 34.3% 38.9% (466) bps Employee Cost 321 296 262 8.6% 22.7% 617 489 26.3% Other Expenses 868 804 779 8.0% 11.5% 1,673 1,463 14.4% EBITDA 452 370 511 22.4% -11.4% 822 897 -8.4% EBITDA % 9.5% 8.6% 13.5% 94 bps (403) bps 9.1% 12.3% (323) bps Finance Cost 87 146 87 -40.3% -0.2% 233 169 37.5% Depreciation 193 186 174 3.7% 11.1% 379 325 16.6% Operating PBT 173 38 250 356.1% -30.9% 210 403 -47.7% Exceptional expense 13 7 0 70.2% NA 20 3 514.3% Non-Operating income 5 6 4 -24.0% 23.1% 11 9 28.1% PBT 165 37 254 349.6% -35.1% 201 408 -50.6% PAT 112 4 186 2636.0% -39.6% 116 298 -61.0%
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Notes Financials are as per IND AS Gross margin includes impact of non-material cost movement of inventory (FG + SFG) EBITDA does not include Non-operating income Standalone: Summary P&L 10 All figures in Rs. Cr Parameter Q2 FY27 Q1 FY27 Q2 FY26 QoQ YoY 6M FY27 6M FY26 YoY Revenue from operations 4,548 4,163 3,701 9.2% 22.9% 8,711 7,222 20.6% COGS 3,021 2,770 2,184 9.1% 38.3% 5,791 4,408 31.4% Gross margin 1,526 1,394 1,517 9.5% 0.6% 2,920 2,814 3.8% Gross margin % 33.6% 33.5% 41.0% 9 bps (742) bps 33.5% 39.0% (544) bps Employee Cost 262 248 245 5.7% 7.2% 510 469 8.6% Other Expenses 804 766 765 4.9% 5.0% 1,569 1,447 8.5% EBITDA 461 380 507 21.3% -9.0% 841 898 -6.3% EBITDA % 10.1% 9.1% 13.7% 101 bps (356) bps 9.7% 12.4% (277) bps Finance Cost 96 95 87 1.6% 10.8% 191 169 13.1% Depreciation 173 168 167 3.1% 4.0% 341 318 7.4% Operating PBT 191 117 253 63.2% -24.5% 309 411 -24.9% Exceptional expense 13 7 0 82.9% NA 20 3 502.0% Non-Operating income 40 22 17 80.4% 143.5% 62 43 46.7% PBT 219 132 270 65.1% -19.0% 351 450 -22.0% PAT 164 99 202 66.2% -19.0% 263 338 -22.2%
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ESG Highlights
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ESG Highlights 12 Key Social Initiatives Restoration of 18,000+ plantation, supporting over 230+ flora species & 80+ fauna species at the Nest, Malabar Hills Aim to reach 797 schools, 24,000+ students and engaging 4962+ teachers; till date impacted 5,700+ students 1. As of H1 FY26 – 42.5 KM/MT 164 women across Chennai, Nashik, Bhandup and Nagpur have started their own businesses, collectively earning approximately Rs. 53.3 lakhs Dispatched 40 MT of RSS4-G (NR) to CEAT Chennai Plant using an LNG-powered truck Optimized Inbound Logistics for Domestic Raw Materials (Non-NR): 38.8 KM/MT1 Gold Award from Indian Society for Quality – CEAT’s Highest Sustainable Passenger car tire launched in India - Circl 90 CEAT CAMSO celebrated World Environment Day 2026 by planting 500 trees Alternate fuel-based Road Transportation of Raw Material by 2 suppliers initiated p ,----------~ • I S&P Globa l ESG Score I I I I 69/100 I I I Data Availabil ity : I Very High I L.:-----------·
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Y O UT H A N K