CEAT Q2 FY27 Results: Consolidated Net Profit ₹117 Crore on Total Income of ₹4,767 Crore

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Blacklitt Research14 October 20263 min read

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CEAT reported consolidated total income of ₹4,767.00 crore and net profit of ₹117.00 crore for the quarter ended 30 Sep 2026. Standalone total income was ₹4,588.00 crore and net profit was ₹164.00 crore.

Key highlights

Consolidated

Including its subsidiaries

Total income: ₹4,767 crore, up 26.2% YoY, up 10.2% QoQ
Net profit: ₹117 crore, down 37.0% YoY, against a loss of ₹1.00 crore in Q1 FY27
EPS: ₹27.79, against ₹45.98 in Q2 FY26
Cost of materials: ₹3,234 crore, up 39.5% YoY and 68% of revenue

Standalone

The company on its own, without its subsidiaries

Total income: ₹4,588 crore, up 23.4% YoY, up 9.6% QoQ
Net profit: ₹164 crore, down 18.9% YoY, up 67.3% QoQ
EPS: ₹40.62, against ₹50.00 in Q2 FY26
Finance costs: ₹96 crore, up 10.5% YoY

Summary

Consolidated ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	4,767	3,777	+26.2%	4,324	+10.2%
Revenue from operations	4,762	3,773	+26.2%	4,318	+10.3%
Other income	5	4	+25.0%	6	-16.7%
	117	186	-37.1%	-1	n/a
Finance costs	87	87	0.0%	n/a	n/a
Depreciation	193	174	+10.9%	186	+3.8%
Tax expense	52	68	-23.5%	33	+57.6%
Net profit margin	2.45%	4.92%	-2.47 pp	-0.02%	+2.48 pp
EPS, basic (₹)	27.79	45.98	-39.6%	1.07	n/a

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Materials cost took the margin. Revenue from operations rose 26.2% to ₹4,762 crore, but the cost of materials consumed rose 39.5% to ₹3,234 crore from ₹2,319 crore, so materials are 68% of revenue against 61% a year ago (derived). Other expenses rose to ₹869 crore from ₹779 crore and total expenses to ₹4,585 crore from ₹3,531 crore (+29.8%). Profit before exceptional items, tax and the share of joint ventures fell to ₹182 crore from ₹246 crore, and the filing does not explain the rise in materials cost.

Three smaller items followed. An exceptional charge of ₹13 crore brought profit before tax to ₹169 crore, the group's share of the loss of joint ventures was ₹5 crore against a profit of ₹8 crore, and finance costs were ₹87 crore, the same as a year ago. Profit for the period is ₹117 crore; the profit attributable to owners that the company reports is ₹112 crore against ₹186 crore, with earnings per share of ₹27.79 against ₹45.98. The statement is in whole crore, so small items carry rounding.

Against June, revenue rose 10.3% and profit attributable to owners went to ₹112 crore from ₹4 crore, the June quarter having a tax charge as large as its profit before tax. For H1 FY27 revenue is ₹9,080 crore against ₹7,302 crore, and profit ₹116 crore against ₹297 crore. The board appointed Mr. Sumeet Narang as an additional non-executive independent director for five years from 14 October 2026.

Standalone ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	4,588	3,718	+23.4%	4,185	+9.6%
Revenue from operations	4,548	3,701	+22.9%	4,163	+9.2%
Other income	40	17	+135.3%	22	+81.8%
	164	202	-18.8%	98	+67.3%
Finance costs	96	87	+10.3%	95	+1.1%
Depreciation	173	167	+3.6%	168	+3.0%
Tax expense	55	68	-19.1%	34	+61.8%
Net profit margin	3.57%	5.43%	-1.86 pp	2.34%	+1.23 pp
EPS, basic (₹)	40.62	50.00	-18.8%	24.41	+66.4%

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

The parent earns more than the group. Standalone net profit of ₹164 crore is ₹47 crore above the consolidated profit for the period of ₹117 crore (derived), so subsidiaries and joint ventures together subtract from the group result. Standalone revenue rose 22.9% to ₹4,548 crore and profit fell 18.9% from ₹202 crore, a smaller fall than the group's because tax took 25.1% of profit before tax in both years.

Other income was ₹40 crore against ₹17 crore a year ago, finance costs rose 10.5% to ₹96 crore and depreciation 3.8% to ₹173 crore. Against June standalone profit rose 67.3% from ₹98 crore.

Inference

CEAT's revenue grew about a quarter, but the cost of materials grew about two fifths, so profit before exceptional items fell.

The filing does not explain the materials cost or the exceptional item, so what part of it repeats is not known from it.

Reference: Original filing (PDF)

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CEAT Q2 FY27 Results: Consolidated Net Profit ₹117 Crore on Total Income of ₹4,767 Crore

Key highlights

Consolidated

Standalone

Summary

Inference

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