Interim report
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October 14, 2026 BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai 400 001 Security Code: 500878 National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai 400 051 Symbol: CEATLTD NCD symbol: CL30 Dear Sirs/Madam, Sub: Outcome of the Board Meeting Pursuant to the provisions of Regulations 30, 51 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 and such other rules and regulations, if and as may be applicable, this is to inform that the Board of Directors (‘Board’) of the Company at its meeting held today, which commenced at 01:00 PM (IST) and concluded at 4:40 PM (IST), inter-alia, unanimously approved /consented to/took on record, the following: A. Unaudited Financial Results Unaudited Financial Results (Standalone and Consolidated) of the Company, for the period ended September 30, 2026, which are enclosed herewith, together with the respective Limited Review Report(s) issued by the Statutory Auditors of the Company. B. Appointment of Additional director: Mr. Sumeet Narang, (DIN: 01874599) appointed, pursuant to the recommendation of the Nomination and Remuneration Committee, as an Additional Director in the capacity of Non - Executive, Independent Director of the Company for a consecutive period of 5 (five) years from October 14, 2026, till October 13, 2031 (both days inclusive), subject to approval of shareholders. C. Policy on Related Party Transactions The amended Policy on Related Party Transactions will be available on the website of the Company at www.ceat.com Information pursuant to Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, as amended, read with relevant SEBI Circular(s) are enclosed herewith. The above information will also be available on the website of the Company www.ceat.com. C::AT CEAT LIMITED RPG House 463, Dr. Annie Besant Road, Worli, Mumbai• 400030, India \. 91 22 24930621 m customercare @ceat.com @ www.ceat.com CIN: L25100MH1958PLC011041 An ~» Ri'G Company
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The trading window for dealing in securities of the Company, shall open post 48 hours after declaration of the aforesaid Financial Results of the Company. It is requested to take note of the same. Thanking you, Yours faithfully, For CEAT Limited (Gaurav Tongia) Company Secretary Encl. 1. As above 2. Press Release C::AT CEAT LIMITED RPG House 463, Dr. Annie Besant Road, Worli, Mumbai• 400030, India \. 91 22 24930621 m customercare @ceat.com @ www.ceat.com CIN: L25100MH1958PLC011041 An ~» Ri'G Company
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Annexure Appointment of Director Sr. No. Particulars Information of event 1. Reason for change viz. appointment, re- appointment, resignation, removal, death or otherwise Appointment of Mr. Sumeet Narang (DIN: 01874599) as an Additional Director in the capacity of Non -Executive, Independent Director. 2. Date of appointment/re-appointment/ cessation (as applicable) and term of appointment/re- appointment W.e.f. October 14, 2026, for a period of 5 (five) consecutive years, subject to approval of shareholders, pursuant to relevant regulations. 3. Brief profile (in case of appointment) • Mr. Sumeet Narang is the Founder & CEO of Samara Capital Group (SCG), a leading alternative asset manager which has invested USD 2 billion+ since its inception in 2007. • SCG has business in India and the US, through its two divisions - Samara Capital India Private Equity and Samara Capital Global Technology Fund. Through SCG, Mr. Narang has had the opportunity to invest in multiple companies across different segments such as retail, packaged foods, hospitals, pharmaceuticals, logistics and insurance brokerage. Several of these companies are now market leaders. • Prior to founding Samara Capital, Mr. Narang briefly worked at Goldman Sachs, New York, in its Proprietary Investments Group. From 2001 to 2004, he worked with Citigroup India across various functions based in Delhi and Hyderabad and has also worked with t he Fiat Group in Italy and India. • Mr. Narang is an MBA from Harvard Business School and holds a Masters in management from the Indian Institute of Management, Lucknow, and a Bachelor of Engineering in Mechanical Engineering from the Indian Institute of Technology, Roorkee. C::AT CEAT LIMITED RPG House 463, Dr. Annie Besant Road, Worli, Mumbai• 400030, India \. 91 22 24930621 m customercare @ceat.com @ www.ceat.com CIN: L25100MH1958PLC011041 An ~» Ri'G Company
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4. Disclosure of relationships between directors (in case of appointment of a director) Mr. Narang is not related to any other director or key managerial personnel of the Company. 5. Affirmation Based on the information provided to the Company, Mr. Narang is not debarred from holding the office of a director by virtue of any SEBI order or any such authority. C::AT CEAT LIMITED RPG House 463, Dr. Annie Besant Road, Worli, Mumbai• 400030, India \. 91 22 24930621 m customercare @ceat.com @ www.ceat.com CIN: L25100MH1958PLC011041 An ~» Ri'G Company
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BS R & Co. LLP Chartered Accountants 14th Floor, Central B Wing and North C Wing Nesco IT Park 4, Nesco Center Western Express Highway Goregaon (East), Mumbai - 400 063, India Telephone: +91 (22) 6257 1000 Fax: +91 (22) 6257 1010 Limited Review Report on unaudited standalone financial results of CEAT Limited for the quarter ended 30 September 2026 and year to date results for the period from 1 April 2026 to 30 September 2026 pursuant to Regulation 33 and Regulation 52(4) read with Regulation 63 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021, as amended To the Board of Directors of CEAT Limited 1. We have reviewed the accompanying Statement of unaudited standalone financial results of CEAT Limited (hereinafter referred to as "the Company") for the quarter ended 30 September 2026 and year to date results for the period from 1 April 2026 to 30 September 2026 ("the Statement") in which are included financial results of CEAT Employees Welfare Trust ("the Trust"). 2. This Statement, which is the responsibility of the Company's management and approved by its Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52(4) read with Regulation 63 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"), as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021, as amended. Our responsibility is to issue a report on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52(4) read with Regulation 63 of the Listing Regulations, as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement. BS R & Co. (a partnership firm wilh Registralion No. BA61223) converted inlo BS R & Ca. LLP (a Limited Liability Partnership with LLP Regislralion No. AAB~B181) with effect from October 14, 2013 Registered Office: 14th Floor, Central B Wing and North C Wing, Nasca IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063 Page 1 of 2
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BS R & Co. LLP Limited Review Report (Continued) CEAT Limited 5. The Statement includes the interim financial results of the Trust which has not been reviewed, whose interim financial results reflect total assets (before consolidation adjustments) of Rs. 51 Crores as at 30 September 2026 and total revenues (before consolidation adjustments) of Rs. 0.38 Crores and Rs. 0.38 Crores, total net profit after tax (before consolidation adjustments) of Rs. 0.07 Crores and Rs. 0.07 Crores and total comprehensive income (before consolidation adjustments) of Rs. 0.07 Crores and Rs 0.07 Crores, for the quarter ended 30 September 2026 and for the period from 1 April 2026 to 30 September 2026 respectively, and cash flows (net) (before consolidation adjustments) of Rs 0.46 Crores for the period from 1 April 2026 to 30 September 2026 as considered in the Statement. According to the information and explanations given to us by the management, this financial information of the Trust is not material to the Company. Our conclusion is not modified in respect of this matter. Mumbai 14 October 2026 For B S R & Co. LLP Chartered Accountants Firm's Registration No.:101248W/W-100022 Sadashiv Shetty Partner Membership No.: 048648 UDIN:26048648WXYIIL7958 Page 2 of 2
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C ::AT CEAT LIMITED CIN : L25100MH1958PLC011041 Registered Office RPG House, 463, Dr. Annie Besant Road, Mumbai 400 030. Statement of Unaudited Standalone financial results for the quarter and six months ended September 30, 2026 Qworter ended Six months ended Particulars 30-Sep-26 30-Jun-26 30-Sep-25 30-Sep-26 30-Sep-25 Unaudited Unaudited Unaudited Unaudited Unaudited 1 INCOME a) Revenue from operations 4,548 4,163 3,701 8,711 7,2'22 b) Other income 40 22 17 62 43 Total income 4,588 4,185 3,718 s,n3 7.265 2 EXPENSES a) Cost of materials consumed 3,156 2,880 2,283 6,036 4,523 b) Purchases of stoc k-in-trade 7 4 3 11 5 c) Changes in inventories of fin ished goods, work -in-progress and stock-in trade (1421 (114) (102) (256) (119 ) d) Employee benefits expenses 262 248 245 510 469 e) Fina nee costs 96 95 87 191 169 f) Depreciation and amort isation expenses 173 168 167 341 318 g) Other expenses 804 765 765 1,569 1,447 Total expenses 4.356 4,046 3,448 8,402 6,812 3 Profit before exceptional items and tax [1-2) 232 139 270 371 453 4 Exceptional items (refer note 4) 13 7 - 20 3 5 Profit before tax (3--4] 219 132 270 351 450 6 Tax expenses ., Current tax- 32 18 44 so 73 b) Deferred tax 23 16 24 39 40 55 34 68 89 113 7 Profit for the period (5-6) 164 98 202 262 337 8 Other comprehensive income a) Items that will not be reclassified to profit or loss i) Remeasurements gains / (losses) on defined benefit plans (6) (3) 10 (9) 7 ii} Income tax relating to above 2 1 (3) 3 (2) b) Items that will be reclasslfied to profit or loss i) Net movement of cash flow hedges 3 (53) 39 (50) 55 ii) Income tax relating to above (1) 13 (10) 12 (14) Total other comprehensive income/ (loss) for the period (2) (42) 36 (44] 46 9 Total comprehensive income for the period [comprising profit and other comprehensive 162 56 238 ZlJI 383 income for the period] [7+8] 10 Paid-up equity share capital 40 40 40 40 40 (Face value of the share - t' 10 each) 11 Other equity excluding revaluation reserve as shown in the audit ed balance sheet 12 Earnings per share (off 10 each) (not annualised except for year ended March) aJ Basic (inf) 40.62 24.41 SO.DO 65.07 83.46 b) Diluted (inf) 40.61 24.41 SO.OD 65.06 83.46 Year ended 31-Mu-26 Audited 15,215 131 15,346 9,197 14 9 969 359 654 2,984 14,186 1,160 71 1,089 188 89 277 au 56 (14) 111 (28) 125 937 40 5,027 201.17 201.17
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CEA T Limited Standalone Statement of Assets and Liabilities as at September 30, 2026 ( in er ores) As at Asat ParticLJlars September 30, 2026 March 31, 2026 Unaudited Audited I Assets (1) Nol"l-<urrent assets (a) Property, plant and equipment 7,035 6,843 (bl Capital work-in-progress 926 589 (c) Right-of-use asset 292 335 (d) Intangible assets 308 329 (e) Intangible assets under development 40 40 (f) Financial assets (i) Investments 737 493 (ii) Loans 532 759 (ii) Other financial assets 12 30 (g) Non-current tax assets (net) 16 12 (h) Other non-current assets 184 200 Total non-current assets (1) 10,082 9,630 (2) Current assets (a) Inventories 2,245 1,660 (b) Financial assets (i) Trade receivables 1,807 1,760 (ii) Cash and cash equivalents 10 31 (iii) Bank balances other than (ii) above 7 3 (iv) Other financial assets 206 263 (c) Other current assets 253 347 Total current assets (2) 4,528 4,064 Total assets [(1) + (2)) 14,610 13,694 II Equity And Liabilities (1) Equity (a) Equity share capital 40 40 (b) Other equity 5,097 5,027 Total equity (1) 5,137 5,067 (2) Non-current liabilities (a) Financial liabilities (i) Borrowings 1,479 1,504 (ii) Lease liabilities 119 157 (iii) Other financial liabilities 18 19 (b) Other non-current liabilities 11 - (c) Provisions 99 87 (d) Deferred tax liabilities (net) 641 617 Total non-current liabilities (Z) 2,367 2,384 (3) Current liabilitles (a) Financial liabilities (i) Borrowings 2,004 1,488 (ii) Lease liabilities 100 102 (iii) Trade payables - Total outstanding dues of micro enterprises and small enterprises 87 131 - Total outstanding dues of creditors other than micro enterprises and small enterprises 3,646 3,215 (iv) Other financial liabilities 928 990 (b) Other current liabilities 133 123 (c) Provisions 153 163 [d) Current tax liabilities (net) 55 31 Total current liabillties (3) /,.1Ub D,l~ Total equity and liabilities 1(1) + (2) + (3)) 14,610 13,694
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CEAT Limited Statement of Unaudited Standalone Cash Flow for the six months ended September 30, 2026 (" in crores) Standalone Six months ended Particulars September 30, 2026 September 30, 2025 Unaudited Unaudited I CASH FLOW FROM OPERATING ACTIVITIES Profit before tax 352 450 Adjustments to reconcile profit before tax to net cash flows: Depreciation and amortization expenses 341 318 Interest income (35) (8) Finance costs 191 169 Dividend income (21) (21) Compensation expenses under employee stock option plan 4 1 Allowance/(Write-back) for doubtful debts and advances 20 (1) Gain on sale of mutual funds - (1) Loss on disposal of property, plant and equipment (net) 1 12 Unrealised foreign exchange gain (net) (6) (17) Operating prof"It before working capital changes 847 902 Adjustments for : Decrease/ (Increase) in inventories (585) (450) Decrease/ (Increase) in trade receivables (83) (15) Decrease/ (Increase) in other current assets and other current financial assets 97 (2) Decrease/ (Increase) in other non-current assets and other non-current financial assets (1) (1) (Decrease) / Increase in trade payables 425 710 (Decrease)/ Increase in current financial liabilites and other current liabilities (47) (151) (Decrease)/ Increase in current provisions (25) (1) (Decrease)/ Increase in non-current provisions 12 2 Cash flows from operating activities 640 994 Income taxes paid (27) (59) Net cash flow generated from operating activities (I) 613 935 II CASH FLOW FROM INVESTING ACTIVITIES Purchase of property, plant and equipment and intangible assets (including capital work-in (786) (414) progress, intangible assets under development and capital advance) Payment towards business combination - (239) Proceeds from sale of property, plant and equipment - 0 Changes in other bank balances (4) (1) Investment in subsidiaries (11) (286) Purchase of mutual funds - (1,632) Proceeds from sale of mutual funds - 1,633 Interest received 39 3 Loan given to subsidiary (710) Dividend received 21 21 Net cash flow (used in) investing activities (II) (741) (1,625) Ill CASH FLOW FROM FINANCING ACTIVITIES Interest paid (172) (141} Proceeds of short-term borrowings (net) 597 393 Proceeds from long-term borrowings 198 800 Repayment of long-term borrowings (303) (178) Loan to ESOP trust for purchase of treasury shares (net) (11) (24) Payment of lease liabilities (61) (56) Dividend paid (141) (121) N9t cash flow, generated from financing activiti11, (Ill) 107 fin Net increase / (decrease) in cash and cash equivalents (I + II + Ill) (21) {17) Cash and cash eouivalents at the beginning of the year 31 39 Cash and cash equivalents at the end of the year 10 22
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CEA T Limited Additional disclosures as per Regulation 52(4) of Securities and Exchange Board of India (Listing, Obligations and Disclosure Requirements) Regulations, 2015 and relevant amendment rules thereafter: Sr. No. (a) (b) (c) (d) (e) (f) (g) (h) (i) U) (k) (I) (m) (n) (o) (p) Quarter ended Si• months ended Particulars 30-Sep-26 30-Jun-26 30-Sep-25 30-Sep-26 30-Sep-25 Net profit after tax (" in crores) 164 98 202 Earnings per share (of 'I: 10 each) (in ~) (not annualised except for year ended march) i) Basic 40.62 24.41 50.00 ii) Diluted 40.61 24.41 50.00 Operating margin (%) 10.14 9.13 13.69 (EBITDA* / revenue from operations) Net profit margin (%) 3.60 2.36 5.46 (Net profit after tax/ revenue from operations) Interest service coverage ratio (in times) · 4.30 3.76 5.29 [(EBITOA • - tax expenses)/ interest costs•• for the period] Debt service coverage ratio (in times) (not annualised except for year ended 0.84 0.57 0.75 march) [(EBITDA* -tax expenses) for the period/ (interest costs•• for the period+ current maturities of long-term borrowings as at date)] Bad debts to account receivable Ratio (%) (not annualised except for year 0.07 - ended march) (Bad debts for the period/ average gross trade receivables) Debtor turnover ratio (in times) (annualised) 9.99 9.26 8.74 (Revenue from sale of goods or services/ average trade receivables) Inventory turnover ratio (in times) (annualised) 12.36 12.24 9.54 (Cost of goods sold/ average inventories of finished goods, work-in -progress and stock-in trade) Capital redemption reserve ('I: in crores) 4 4 4 Net worth ('I: in crores) 5,137 5,126 4,526 (Equity share capital + other equity) Debt/ equity ratio (in times) 0.68 0.60 0.65 [Debt (debt comprises non-current borrowings and current borrowings) / net worth] Current ratio (in times) 0.64 0.65 0.62 (Current assets/ (current liabilities#) Current liability ratio (in times) 0.75 0.75 0.74 (Current liabilities#/ total liabilities) Total debts to total assets (in times) 0.24 0.22 0.23 [(Non-current borrowings+ current borrowings)/ total assets] Long term debt to working capital (in times) ## ## ## [(Non-current borrowings including current maturities of long-term borrowings) / working capital] (Working capital = current assets - current liabilities#) • EBITDA = Earnings before finance costs, tax expenses, depreciation and amort isation expenses, exceptional items and other income. •• Interest cost includes interest capitalised and excludes interest on lease liabilities. # Current liabilities include capital creditors and dealer deposit. ## Net working capital is negative. 262 338 65.07 83.46 65.06 83.46 9.66 12.43 3.01 4.67 4.03 4.87 1.31 1.18 0.07 - 9.62 8.58 11.85 9.62 4 4 5,137 4,526 0.68 0.65 0.64 0.62 0.75 0.74 0.24 0.23 ## ## Year ended 31-Mar-26 812 201 .17 201.17 13.42 5.34 5.17 2.18 - 8.79 10.82 4 5,067 0.59 0.65 0.72 0.22 ## i. During the quarter , the Company repaid listed unsecured non-convertible debentures (NCDs) amounting to ~ 150 crores on due date, which was earlier issued on private placement basis. ii. The listed unsecured non-convertible debentures of the Company aggregating " 250 crores are outstanding and not due for repayment as at September 30, 2026. iii. The commercial papers of the Company, having face value of 'I: 850 crores, are outstanding and not due for repayment as at September 30, 2026.
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Notes: 1. 2. 3. 4. The unaudited standalone financial results of the Company for the quarter and six months ended September 30, 2026 have been prepared in accordance with the Indian Accounting Standards ("ind AS"} iiJS prescribed under section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rules, 2015 and relevant amendment rules thereafter . All amounts are presented in '( crores except for earnings per share. The above unaudited standalone financial results of the Company for the quarter and six months ended September 30, 2026 have been reviewed by the Audit Committee and thereafter approved by the Board of Directors at its meeting held on October 14, 2026. The following items form part of exceptional items: a. The Company has introduced Voluntary Retirement Schemes ('VRS') for its employees. The compensation in respect of employees who opted for VRS aggregated" 13 crores for the quarter ended September 30, 2026, 0: 7 crores for the quarter ended June 30, 2026, Nil for the quarter ended September 30, 2025, 't 20 crores for the six months ended September 30, 2026, a: 3 crores for the six rnonths ended September 30, 2025 and " 13 crores for the year ended March 31, 2026. b. The Government of India notified the four Labour Codes ('New Labour Codes') effective November 21, 2025. The Ministry of labour & Employment has also issued draft Central Rules and FAQs to help assess the financial impact of these changes. The Company has ascertained its estimated obligations under the New labour Codes. Accordingly, the Company had recognised incremental estimated obligations aggregating '( 58 crores as an exceptional item on account of employees' past services during the year ended March 31, 2026, based on actuarial valuation and best estimate in accordance with Ind AS 19 - 'Employee Benefits' and consistent with guidance provided by the Institute of Chartered Accountants of India. 5. The Company has made an additional investment of 0: 3 crores in 26,626 equity shares on April 21, 2026, a: 3 crores in 22,447 equity shares on July 10, 2026 and'( 5 crores in 37,686 equity shares on September 24, 2026 in its wholly owned subsidiary, TYRESNMORE Online Private limited (TNM}. Further, during the quarter Company has converted $24.5 million loan given to Ceat OHT Lanka (Private) limited, a wholly owned subsidiary, into equity equivalent to "234 crores. 6. During the quarter and six months ended September 30, 2026, the Company granted 74,247 stock options under the CEAT - Employees Stock Option Scheme 2025 ("ESOP 2025" /"Scheme") to eligible employees, vesting of which is subject to the achievement of specified performance conditions over a defined vesting period and the outstanding options are 165,110 options. The Company has also established the CEAT Employees Welfare Trust (''Trust") to administer and manage the Scheme. The outstanding amount which Company has advanced to Trust is'( 51 crores as on September 30, 2026. As on September 30, 2026, the outstanding balance of shares purchased by Trust is 138,229 equity shares amounting to " 51 crores for the Scheme, which have been adjusted under Other Equity. 7. The Company's business activity falls within a single reportable business segment, viz. "Automotive Tyres, Tracks, Tubes and Flaps". Place: Mumbai Date: October 14, 2026 ~ :~rder of the Board of CEAT limited Arn Ba rjee Managing irector and CEO [DIN:06559516]
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BS R & Co. LLP Chartered Accountants 14th Floor, Central B Wing and North C Wing Nesco IT Park 4, Nesco Center Western Express Highway Goregaon (East), Mumbai - 400 063, India Telephone: +91 (22) 6257 1000 Fax:+91 (22)62571010 Limited Review Report on unaudited consolidated financial results of CEAT Limited for the quarter ended 30 September 2026 and year to date results for the period from 1 April 2026 to 30 September 2026 pursuant to Regulation 33 and Regulation 52(4) read with Regulation 63 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021, as amended To the Board of Directors of CEAT Limited 1. We have reviewed the accompanying Statement of unaudited consolidated financial results of CEAT Limited (hereinafter referred to as "the Parent"), and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") and its share of the net profiU(loss) after tax and total comprehensive income/(loss) of its joint ventures for the quarter ended 30 September 2026 and year to date results for the period from 1 April 2026 to 30 September 2026 ("the Statement"), being submitted by the Parent pursuant to the requirements of Regulation 33 and Regulation 52(4) read with Regulation 63 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"), as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021, as amended. 2. This Statement, which is the responsibility of the Parent's management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52(4) read with Regulation 63 of the Listing Regulations, as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021, as amended. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable. 4. The Statement includes the results of the entities mentioned in Annexure I to the Statement. 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement , prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52(4) read with Regulation 63 of the Listing Regulations, as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021,as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement. B S R & Co. {a partnc11hlp limi with Regislration No. BA61223) converted into B S R & Co. LLP (a Umiled Liability paru,orshlp wi1h LLP Registralion No. AAB-8181) wilh effecl from October 14, 2013 Registered Office: 14th Floor, Cenlral B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063 Page 1 of 4
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BS R & Co. LLP Limited Review Report (Continued) CEAT Limited 6. We did not review the interim financial results of 4 subsidiaries included in the Statement, whose interim financial results reflects total assets (before consolidation adjustments) of Rs 1,383 crores as at 30 September 2026 and total revenues (before consolidation adjustments) of Rs 228 crores and Rs 363 crores, total net loss after tax (before consolidation adjustments) of Rs 5 crores and Rs 84 crores and total comprehensive loss (before consolidation adjustments) of Rs 5 crores and Rs 84 crores, for the quarter ended 30 September 2026 and for the period from 1 April 2026 to 30 September 2026 respectively, and cash inflows (net) (before consolidation adjustments) of Rs 1 crore for the period from 1 April 2026 to 30 September 2026. as considered in the Statement. The Statement also include the Group's share of net profiU (loss) after tax of Rs (4) crores and Rs 0.31 crores and total comprehensive income/(loss) of Rs (4) crores and Rs 0.31 crores, for the quarter ended 30 September 2026 and for the period from 1 April 2026 to 30 September 2026 respectively as considered in the Statement, in respect of 3 joint ventures, whose interim financial results have not been reviewed by us. These interim financial results have been reviewed by other auditors whose reports have been furnished to us by the Parent's management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and joint ventures, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. Our conclusion is not modified in respect of this matter. 7. The Statement includes the interim financial results of 10 subsidiaries and one Trust which have not been reviewed, whose interim financial results reflects total assets (before consolidation adjustments) of Rs 463 crores as at 30 September 2026 and total revenues (before consolidation adjustments) of Rs 141 crores and Rs 212 crores, total net loss after tax (before consolidation adjustments) of Rs. 24 crores and Rs 40 crores and total comprehensive loss (before consolidation adjustments) of Rs 24 crores and Rs 40 crores, for the quarter ended 30 September 2026 and for the period from 1 April 2026 to 30 September 2026 respectively, and cash inflows (net) (before consolidation adjustments) of Rs 12 Crores for the period from 1 April 2026 to 30 September 2026. as considered in the Statement. According to the information and explanations given to us by the Parent's management, these interim financial results are not material to the Group. Our conclusion is not modified in respect of this matter. Mumbai 1 '1 Octobor 2026 For B S R & Co. LLP Chartered Accountants Firm's Registration No.:101248W/W-100022 Sadashiv Shetty Partner Membership No.: 048648 UDI N .20048048NWAWP7908 Page 2 of 4
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BS R & Co. LLP Limited Review Report (Continued) CEAT Limited Annexure I List of entities included in unaudited consolidated financial results. Sr. No Name of component Relationship 1 CEAT Limited Holding Company 2 Associated CEAT Holding Company (Pvt) Limited Subsidiary 3 CEAT Kelani Holding (Pvt.) Limited Joint Venture 4 Associated CEAT (Pvt.) Limited Joint Venture 5 CEAT Kelani International Tyres (Pvt.) Limited Joint Venture 6 CEAT AKKHAN Limited Subsidiary 7 Rado Tyres Limited Subsidiary 8 CEAT Tires INC (formerly known as CEAT Specialty Tires Inc.) Subsidiary 9 CEAT Tyres B.V (formerly known as CEAT Specialty Tyres Subsidiary Subsidiary B. V.) 10 CEAT Auto Components Limited Subsidiary 11 Taabi Mobility Limited Subsidiary 12 TYRESNMORE Online Pvt. Limited Subsidiary 13 CEAT Brazil Holding L TDA (formerly known as CEAT Brazil Subsidiary Subsidiary Tires Servicos L TOA) 14 PT Tyres Indonesia Subsidiary 15 CEAT OHT Lanka (Private) Limited Subsidiary 16 CEAT OHT Ventures (Private) Limited Subsidiary 17 CEAT International UK Limited (w.e.f. 12 January 2026) Subsidiary 18 CEAT Gmbh (w.e.f. 20 April 2026) Subsidiary 19 CEAT Employees Welfare Trust (w.e.f. 16 May 2025) Employee Welfare Paga 3 of ti
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B S R & Co. LLP • Limited Review Report (Continued) CEAT Limited I Trust Page 4 of 4
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C: AT CEAT LIMITED CIN : U5100MH1958PLC011041 Registered Office RPG House, 463, Dr. Annie Besant Road, Mumbai 400 030. Statement of Unaudited Consolidated financial results for the quarter and six months ended September 30, 2026 Partinltars 1 INcOME a) Revenue from operations b) other income Tot.alincome 2 EXPENSES a) Cost of materials consumed b) Purcha~s of stock-iri-trade cl Changes in inventories of finished goods, work-In-progress and stock-in trade d) Employee benefits expenses e) Finance costs 0 Depredation and amortisation expenses g) other eicpenses Total expenses 3 Profit befo~ share of profit of joint ventures, exceptional items and tu [1-2] 4 Exceptional Items (refer note 4) 5 Profit befon!!! share of profit of joint ventures and tax [3-4] 6 Tax expenses a) Currenttax b) Deferred tax 7 Profit fur the period before share of profit of joint ventures [5 - 6] 8 Share of profit/(loss) from joint ventures (net of tax) 9 Profit for the period 17 + B] Attributable to: Owne~ of the Parent Non-controlling Interests 10 other comprehensive income a} Items that will not be reclassified to profit or loss (i) Remeasurement gains/ (losses) on defined benefit plans (ii) Income tax relating to above b) Items that will be r~lassifled to profit or loss Fl Net movement or cash flow hedges (ii) Net movement of foreign exchange translation reserve {iii} Income tax relating to above Total other comprehensive income/ !loss) for the period Attributable to: Owner.. of the Parent Non<ontrolling interests 11 Total Comprehensive Income for the period [Comprising profit and other comprehensive Income for the period] (9 + 10] Attributable to : Owners of the parent Non-controlling interests U Paid-up equif'./ share capital (Face value of the Share•~ 10 each) ll Olher equity excluding revaluation reserve as shown in the audited balance sheet of the previous year 14 Earnings Per Share (of lf 10 eachJ {not annualised except for year ended March) a) Basic(inll!) b) Diluted f In lf] <>">.,.., • ~qj : r& ),),{:- 'l'ed Acco - t ' I 30-Sep-26 Unaudited 4,762 s 4,767 3,234 66 (185) 321 87 193 869 '!,sa5 182 ll 169 32 20 52 117 (SI 112 112 0 (61 1 3 29 (1) 26 26 138 138 0 40 27.79 27.79 Quarter ended Sb. months ended 30-Jun-26 30-Sep-25 30-Sep-26 30-Sep--25 Unaudited Unaudited Unaudited Unaudited 4,318 3,n3 9,080 7,302 6 4 ll 9 4.]_24 3,777 9,C!Jl 7,311 2,978 2,31.9 6,212 4,558 56 13 122 22 (180) (W3J (3651 (120) 296 262 617 489 146 87 233 169 186 174 379 325 803 n9 1,672 1,463 4,2Jl5 3,531 8.870 6,906 39 246 221 405 7 20 3 32 246 201 402 18 44 so 73 15 24 35 37 33 68 85 110 [1) 178 116 292 5 8 0 6 4 186 116 297 4 186 116 298 (OJ (O) (0) (OJ (3) 11 (9) 7 1 (31 2 (2) (53) 39 (SO) 55 (21) 2 8 3 13 (W) 12 (14) [63) 39 (37) 49 (63) 39 (371 49 . . (591 225 79 347 (59) 225 79 347 IOI (OJ (OJ (0) 40 40 40 40 1.07 45 98 28 85 73,77 1.07 45.98 2885 73..n Year ended 31.-Mar-26 Audited 15,678 40 15,71B 9,508 52 (57) 1,071 359 697 3,057 14,687 1,031 71 960 189 90 279 681 16 697 698 (1) 53 (14) 111 13 (281 135 135 Sil 833 !ti 40 5,006 172.78 172 78
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CEAT LIMITED Consolidated Statement of Assets and Liabilities as at September 30, 2026 (~lnao,es) Asat Asat particulars September 30, 2026 March 31, 2026 Unaudited Audited I Assets (:l) N0t1-<11nent assets (a) Property, plant and equipment 7,779 7,631 (b) Capital work-in-progress 931 598 (,) Right-<>f-use asset 310 347 (d) Goodwill 30 30 (e) Intangible assets 394 431 (ij Intangible assets under development 39 40 (g) Investments accounted using equity method 146 173 (h) Financial assets (i) Investments 49 49 (ii) Other financial assets 12 30 (i) Non current tax assets (net) 16 12 U) Other non-current assets 196 200 Total non--cunent assets (11 9,902 9,541 (2) Currentassets (a) Inventories 2,597 1,783 (b) Financial assets (i) Trade receivables 1,964 1,839 (ii) Cash and cash equivalents 32 40 (iii) Bank balances other than cash and cash equivalents 8 4 (iv) Other financial assets 183 249 (c) Other current assets 326 398 Total wrrent....,15 5,110 4,313 Ass<>U held-ror-sale 49 49 Total(ZJ 5,159 4,362 Total assets 1(1) + (2)1 15.061 13,903 II Equity and Liabilities (1) Equity (a) Equity share capital 40 40 (b) Other equity 4,921 5,006 Equity attributable to equity holders of parent 4,961 5,1146 (c) Non=ntrolling interest 8 8 Total equity (1) 4,969 5,054 (2) Non-current liabilities (a) Financial liabilities (i) Borrowings 1,479 1,504 (ii) Lease liabilities 119 158 (iii) Other financial liabilities 18 19 (b) Provisions 136 122 (c) Deferred tax liability (net) 653 632 (d) Other non-current liabilities 11 . Total non-current liabilities (2) 2,416 2,435 (3) Current liabilities (al Financial liabilities (i) Borrowings 2,367 1,507 (ii) Lease liabilities 100 103 (iii) Trade payables - Total outstanding dues of micro enterprises and small enterprises 87 132 - Total outstanding dues of creditor s other than micro enterprises and small enterprises 3,800 3,316 (iv) Other financial liabilities 933 997 (b) Other current liabilities 177 161 (c) Provisions 155 165 (d) Current tax liabilities (net) 57 33 Total current liabilities (3) 7,676 6,414 Total equity and liabilities 1(1) + (2) + (3)1 15,061 13,903
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CEAT Limited Statement of Unaudited Consolidated Cash Flow for the six months ended September 30, 2026 (~ in crores) Consolidated Six months ended Particulars September 30, 2026 September 30, 2025 Unaudited Unaudited I CASH FLOW FROM OPERATING ACTIVmES Profrt before tax and eJ(cJudlng share of profit of joint venture 201 402 Adj ustments to reconcile profit before ta.K to net cash flows : Depreciation and amortizat ion expenses 379 325 Interest in come (4) (3) Finance costs 233 169 Compensation Expenses under employee stock option plan 4 1 Gain on termination of lease (0) - Allowance/(Write-back) for doubtful debts and advances 20 (1) Gain on sale of Mutual fund - (1) Loss on disposal of property, plant and equipment (net) 1 12 Unrealised foreign exchange (gain)/ loss (net) (7) (17) Foreign currency Translation Reserve on Consolidation 5 1 Operating profit before working capital changes 832 888 Adjustments for: Decrease / (Increase) in inventories (814) (510) Decrease / (Increase) in trade receivables (161) (79) Decrease / (Increase) in other current assets and other current financial assets 87 (23) Decrease/ (Increase) in other non-current asset and other non-current financial assets 16 (6) (Decrease)/ Increase in trade payables 463 806 (Decrease)/ Increase in current and non-current financial liabilities and other current liabilities (44) (144) (Decrease)/ Increase in current provision.s (25) (1) (Decrease)/ Increase in non-current provisions 13 2 Cash flows from operating activities 367 933 Income taxes paid (29) (59) Net cash flows generated from operating activities (I} 338 874 II Cash Flow From Investing Activities Purchase of property, plant and equipment and intangible assets (including capital work-in progress, intangible (802) (418) assets under development and capital advance) Payment towards business combination (refer note 6) - (1,120) Proceeds from sale of property, plant and equipment - 0 Changes in other bank balances (4) 0 Purchase of Mutual funds - (1,632) Proceeds from sale of Mutual Funds - 1,633 Interest received 4 3 Dividend received from Joint Venture 21 21 Net cash flows used in investing activities (II) (781) (1,513) Ill Cash Flow From Financing Activities Interest paid (178) (140) Proceeds/ (repayment) of short-term borrowings (net) 941 393 Proceeds from long-term borrowings 198 800 Repayment of long-term borrowings (303) (178) Loan to ESOP Trust for purchase of treasury shares (11) (24) Payment of lease liabilities (71) (63} Dividend paid {141) {121) Net cash flows generated from financing activities (Ill) 435 667 Net increase/ (decrease) in cash and cash equivalents (I + II + Ill) (8) 28 Cash and cash equivalents at the beginning of the year 40 48 Cash and cash equivalents at the end of the year 32 76
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CEATLIMITED Additional disclosures as per regulation 52(4) of securities and Exchange Board of India (Listing, Obligations and Disclosure Requirements) Regulations, 2015 and relevant amendment rules thereafter : Sr. Particulars Quarter ended Six months ended Year ended 30-Jun-26 30-Sep-25 30-Sep-26 30-Sep-25 31-Mar-26 No. (o) (bl (c) (d) (e) (f) (Bl (h) m U) (k) (I) {m) (n) (o) (Pl 30-Sei>-26 Net Profit after tax (~ in crores) 112 4 186 116 Earnin.ss per share (of ~ 10 each) (In~) (not annualised except for vear ended march) i) Basic 27.79 1.07 45.98 28.85 ii)Diluted 27.79 1.07 45.98 28 .85 Operating Margin (%) 9.50 8.56 13.53 9.06 (EBITDA •/Revenue from operations) Net Profit Margin (%) 2.36 0.09 4.92 1.28 (Net Profit after tax/ Revenue from operations) Interest Service Coverage Ratio (in times) 4.68 2.37 5.33 3.23 l(EBITDA • -Tax expenses)/ Interest costs •• for the period] Debt Service Cove.rage Ratio (in times) (not annualised except for 0.84 0.51 0.75 1.19 y,,ar ended March) l(EBITDA • - Tax expenses) for the period/ (Interest costs •• for the pc,rlod + Current maturities of long-term borrowings as at date)] Bad debts to Account receivable Ratio(%) (not annualised except for 0.06 . . 0.06 year ended March) {Bad debts for the period/ Average gross trade receivables) Debtor turnover ratio (in times) (annualised) 9.82 9.10 8.74 9.41 (Revenue from sale of goods or services/ average trade receivables) Inventory turnover ratio (in times) (annualised) 10.78 11.08 9.63 10.33 (Cost of goods sold/ average inventories of finished goods, work•in- progress and stock-in trade) capltal redemption reserve (I!( in crores) 4 4 4 4 Net worth (~ in crores) 4,961 4,991 4,572 4,961 (Equity share capital + other equity) Debt/ equity ratio (in times) 0.78 0.65 0.64 0.78 [Debt (debt comprises non,urrent borrowings and current borrowings)/ net worth] Current ratio fin times) 0.67 0.67 0.64 0,67 (Curr,nt assets/ (current liabilities#)) Current liability ratio (in times) 0.76 0.75 0.74 0.76 (Current liabilities#/ total liabilit ies) TotiJI debts to total assets (in times) 0.26 0.22 0.22 0.26 [(Non--current borrowings+ current borrowings)/ total assets] Long term debt to working capital (in times) ## ## ## ## !(Non-current borrowings including current maturities of long•term bofrowlngs) / working capital] (Working capital= current assets• current llabilitles #I • EBITDA = Earnings before finance costs, tax expenses, depreciation and amort1sat1on expenses, exceptional Items and other income. •• interest cost includes interest capitalised and excludes Interest on lease liabilities. # Current liabilities includes capital creditors and dealer deposits. ## Ni!!!t working capital is negative. & represents amounts less than 0.01 298 697 73.77 172.78 73.77 172.78 12.28 13.16 4.08 4.45 4.88 5.24 1.18 2.20 - 8.51 8.85 9.63 10.70 4 4 4,572 5,046 0.64 0.60 0.64 0.67 0.74 0.72 0.22 0.22 ## ## . During the quarter, the Company repaid listed unsecured non-convertible debentures (NCDs) amounting to~ 150 crores on due date, which was earlier issued on private placement t. basis. ii. The listed unsecured non-convertible debentures of the Company aggregating 1l'. 250 crores are outstanding and not due for rll!!payment as at September 30, 2026. iii. The commercial papers of the Company, having face value of~ 850 crores, are outstanding and not due for repayment as at September 30, 2026.
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Notes: 1. The unaudited consolidated financial results of CEAT Limited ("the Company" or "the Parentn) and itS subsidiaries ("the Group") and its joint ventures for the quarter and six months ended September 30, 2026, have been prepared in accordance with the Indian Accounting Standards ("Ind AS") as prescribed under section 133 of the Companies Act, 2013 read with the Companies (Indian Accounti~g Standards) Rules, 2015 and relevant amendment rules thereafter. 2. All amounts ~re presented in "crores except for earnings per share. 3. The above unaudited consolidated financial results of the Group for the quarter and six months ended September 30, 2026 have been reviewed by the Audit Committee and thereafter approved by the Board of Directors at its meeting held on October 14, 2026. 4. Following items form part of exceptional items: a. The Group had Introduced Voluntary Retirement Schemes ('VRS') for its employees. The compensation in respect of employees who opted for VRS aggregated ~ 13 crores for the quarter ended Scptcm.b(!r 30, 2026, ~ 7 crol'l!!.S for-the quarter ended June 30, 2026, Nll for the quarter ended September 30, 2025, , 20 crores for the six months ended September 30, 2026, ~ 3 crores for the six months ended September 30, 2025 and 5' 13 crores for the year ended March 31, 2026. b. The Government of India notified the four Labour Codes ('New Labour Codes') o:ffoctive November 21, 2025. The Ministry of Labour & Employment has also Issued dr.,ft Central Rules and FAQS to help assess the financial impact of these changes. The Group has ascertalned its estimated obligations u.nder the New Labour Codes. Accordingly, the Group had recognised incremental estimated obligations aggregating~ 58 crores as an exceptional item on account of employees' past services during the year ended March 31, 2026, based on actuarial valuation and best estimate in accordance with Ind AS 19 - 'Employee Benefits' and consistent with guidance provided by the Institute of Chartered Accountants of India. 5. During the quarter and six months ended September 30, 2026, the Holding Company granted 74,247 stock options under the CEAT- Employees Stock Option Scheme 2025 ("ESOP 2025" /"Scheme") to eligible employees, vesting of which is subject to the achievement of specified perlormartee conditions over a defined vesting period and the 01Jtstc1nding option, ore 165,110 options. The Holding Company has also established the CEAT Employees Welfare Trust ('irust") to administer and manage the Scheme. The outstanding amount which Holding Company has a:dvant~ to Trust Is" 51 croces as en Sep~mber 30, 2026. As on September 30, 2026, the outstanding balance of shares purchased by Trust is 138,229 equity shares amounting to "- 51 crores for the Scheme, which have been adjusted under Other Equity. 6. The Company had entered into definitive agreement(s) on December 6, 2024 with associate companies in the Michelin Group for acquisition of Camso brand's Off-Highway construction equipment tyre and tracks business, through its wholly owned subsidiary - CEAT OHT Lanka (Private) limited ("wholly owned subsidiary") for the deal valued at $225 Mn. including a commitment to acquire Camso trademark for a pre-determined value of $44 Mn. and inventories of approximately $44 Mn at a later date. The above results include the financial results of the: acquls[tion w.e.f September 01, 2025 and hence the figures for the quarter and six months ended September 30, 2026 are not strictly comparable with quarter and six months ended-September 30, 2025. In accordance with Ind AS 103, the purchase consideration h;u bttn aUocated based on fair values of the assets and liabilities acquired. For the aforesaid transaction, the Company has lnlttally remittl!d '!. 274 crores •• investment In equltY ;nd ~ 119 aon,s •• lo•n to Ceat OHT Lanka (Private) Limited, a wholly owned subsidiary. Further, during the quarter Company ha5 com,erted $24.5 mllllon cf loan given to Ceat OHT Lanl(a (Prlvate) Ui'nl-ted,,11 wholly owned subsidiary, into equity equivalent to~ 234 crores. 7. The Company has a total of 14 subsidiaries (including step down subsidiaries) and 3 joint ventures as on September 30, 2026 8. The Group's business activity falls within a single reportable business segment, viz. HAutomotive Tyres, Tracks, Tubes and FlapsH. 9. The Standalone results are available on Company's website viz, www.ceat.com and on website of BSE (www.bseindia.com) and NSE (www.nseindia.com). Key Standalone financial information is given below. Quarter ended Particulars 30-Sei>-26 30-Jun-26 30-Sei>-25 Unaudited Unaudited Unaudited Revenue from operations 4,548 4,163 3,701 Profit before tax 219 132 270 Profit for the period 164 98 202 Place: Mumbai Date: October 14, 2026 (~ inaores) Six months ended Year ended 30-Sei>-26 30-Sei>-25 31-Mar-26 Unaudited Unaudited Audited 8,711 7,222 15,215 351 450 1,089 262 337 812 ip;•~•--=rnm,. Amab :Jiec Ma.nosing Oirc:ctor ;ind CEO (DIN:06S59516]
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Q2 FY26-27 Consolidated Revenue Rs. 4,762 crore, up 26 % Y-o-Y Mumbai, India – 14th October, 2026: CEAT L imited (CIN No: L25100MH1958PLC011041) , an RPG Group company, today announced its unaudited results for the first quarter ended on 30th September, 2026. On a consolidated basis, the Company’s revenue closed at Rs. 4,762 crore, an increase of 26% Y-o-Y, EBITDA margin stood at 9.5%. Net profit stood at Rs. 112 crore. Commenting on the results as well as the outlook of the business, Mr. Arnab Banerjee, MD & CEO, CEAT Limited, said, “ In Q2, we delivered a strong double-digit revenue growth of 26% Y-o-Y, continuing the momentum of the past several quarters, led by growth in premium segments across BUs. The West Asia crisis kept raw material costs high and did present challenges, but we responded with tighter cost controls and disciplined execution. In the second half of the year, we shall look at delivering double digit growth again, alongside further price hikes." On a standalone basis, the Company’s revenue stood at Rs. 4548 crore, 23% Y-o-Y and EBITDA margin stood at 10.14% and net profit was reported at Rs. 164 crore. Mr. Kumar Subbiah, CFO of CEAT Limited, said, “The continuing conflict in West Asia kept commodity costs elevated during the quarter. We will remain focused on calibrated pricing actions and improving our product mix, with moderate price increases. Debt increased during the quarter, largely due to higher capital expenditure of close to ₹490 crore to increase our capacities where utilisation has been high and dividend payouts. In Q3, we expect cost pressures to persist into Q3 as the commodity prices continue to remain high. However, we will continue to maintain fiscal discipline while investing to meet demand and drive profitable growth.” About CEAT Ltd (w ww.ceat.com): CEAT, the flagship company of RPG Enterprises, was established in 1958. Today, CEAT is one of India’s leading tyre manufacturers and has a strong presence in global markets. CEAT produces more than 41 million high -performance tyres, catering to various seg ments like 2 -3 Wheelers, Passenger and Utility Vehicles, Commercial Vehicles and Off-Highway Vehicles. About RPG Group (www.rpggroup.com): RPG Group, established in 1979, is one of India’s fastest-growing business groups with a turnover of US$ 5.2 billion. The group has diverse business interests in the areas of Infrastructure, Tyres, Pharma, IT and Specialty as well as in emerging innovation-led technology businesses. Media contacts: RPG Group: Rashmi Menon – 8898020577 | rashmi@rpg.in Adfactors PR: Gaurav Bhat – 98330 57592 | gaurav.bhat@adfactorspr.com C: J\T An ~» R~G Company