CEAT Commits Around INR 10 Bln In FY26 Capex,
- By Sharad Matade
- May 02, 2025
Targets International Expansion With Robust Fy25 Performance
CEAT Ltd, the RPG Group’s flagship tyre company, reported a capital outlay of INR 9–10 billion for FY2025–26, keeping with its capacity expansion strategy and global integration. This follows a strong FY25 performance of record revenues and double-digit growth across segments despite headwinds in overseas markets.
The business ended FY25 with consolidated revenue of INR 132.18 billion, up 10.6 percent year on year, and Q4 revenue at INR34.21 billion, up 14.3 percent compared to the corresponding quarter previous year. The standalone full-year EBITDA was INR 15 billion, and the Q4 operating margins improved by more than 100 basis points sequentially at 11.5 percent.
"We incurred capex of INR 9.46 billion in FY25 and expect a similar investment of INR 9–1.0 billion in FY26," said Kumar Subbiah, Chief Financial Officer of CEAT. “Our focus will remain on expanding capacities, particularly at the Ambarnath and Chennai facilities, and funding the integration of the recently acquired Camso compact construction business.”
In FY25, CEAT depreciated assets amounting to INR11.40 billion. Much of its FY26 capex will also fund equipment modernisation and normal maintenance at its Sri Lankan operations under Camso, putting a cost estimate of INR1-1.25 billion a year over the next two years.
The Camso acquisition, which is effective from Q2 FY26, is likely to significantly enhance CEAT's global presence. "Integration work has started in full acceleration," said Arnab Banerjee, Managing Director and CEO. “Initial focus will be on customer retention and business continuity, with consolidation expected to double Camso’s current capacity utilisation over the medium term.”
Despite international uncertainties, CEAT renewed its medium-term global growth forecast. Exports are expected to form 25–26 percent of the revenue post-Camso integration. Turbulence still exists in Latin America and North America due to tariff policies and exchange rate weakness. CEAT, however, has reported consistent performance in Europe, the Middle East, and Southeast Asia.
CEAT also indicated a likely raw material cost stabilisation in Q1 FY26, potentially softening by Q2, to support its margin growth initiatives. The gross margin was 37.5 percent in Q4 FY25, and the target was above 40 percent in the near term.
Banerjee signaled ongoing activity in electrification, premiumisation, and digitalisation. "With our technology outlays and new product introductions, we are hopeful of sustaining 20–25 percent market share in electric vehicle segments," he asserted.
The debt levels of the company are under control. The gross debt as of 31 March 2025 was INR 19.28 billion with a debt-to-EBITDA ratio of 1.3x and debt-to-equity ratio of 0.44x. Subbiah added that CEAT's strong cash generation will allow it to finance both organic and inorganic growth without materially diluting leverage metrics.
- Himadri Speciality Chemical
- International Sustainability and Carbon Certification
- ISCC Plus
- Anurag Choudhary
Himadri Speciality Chemical’s Hooghly Plant Gets ISCC PLUS Certification
- By TT News
- August 28, 2025
Kolkata-based Himadri Speciality Chemical has announced that its flagship plant in Mahistikry, Haripal, Hooghly, has received ISCC PLUS (International Sustainability and Carbon Certification).
The company has been recognised for its ecological and social responsibility, along with compliance with stringent criteria on greenhouse gas emission reduction, ecosystem protection, social accountability and complete traceability of raw materials.
Anurag Choudhary, CMD & CEO, Himadri Speciality Chemical, said, “Achieving ISCC PLUS certification marks a defining step in Himadri’s sustainability journey. It validates our determination to integrate renewable, low- carbon, and circular solutions into every layer of our operations. As global industries shift towards sustainable value chains, Himadri is leading this transformation—delivering innovative and responsible solutions that create long-term value for society, the environment, and our stakeholders worldwide.”
With this recognition, the company joins a number of global players who are driving systemic change towards responsible sourcing and production.
George Varughese, Founder Of Midas Retreading Materials, Passes Away
- By TT News
- August 28, 2025
George Varughese, founder of General Rubbers and the man behind the iconic Midas brand of tyre retreading materials, passed away on 28th August, 2025.
Varughese established General Rubbers in 1969, building Midas into India’s most recognised name in retreading materials. Under his leadership, the company has grown into a global player, supplying more than 24,000 tonnes of tread rubber, precured tread rubber and other products annually. Today, Midas serves customers across South America, Africa, Europe and Australia.
Known for his vision and emphasis on innovation, Varughese placed research and development at the heart of Midas’s success. His commitment to improving compound formulations with the latest technology ensured the brand’s reputation for durability and reliability.
With operations centred in Kottayam, Kerala, Midas continues to expand its dealer network, reflecting Varughese’s lifelong mission of accessibility and customer service.
Varughese leaves behind a lasting legacy in India’s tyre industry, remembered as a pioneer who transformed the retreading sector into a global business.
Vaculug Appoints Nick Hermitage As Operations Manager – OTR South
- By TT News
- August 28, 2025
Vaculug has named Nick Hermitage as Operations Manager – OTR South, following a significant expansion in its OTR Division.
The company's new OTR Centre of Excellence in the South East will serve as Hermitage's headquarters. He is in charge of making sure the depot runs smoothly, which includes daily administration, logistics, foam filling and tyre pressing. Hermitage brings with him a depth of experience, knowledge and skill – accumulated over 22 years in the tyre industry.
Alan Robin, National Account Manager – OTR, Vaculug Technologies Ltd, said, "This is an incredibly exciting time at Vaculug, and we are fortunate to welcome Nick to the OTR team. His extensive experience and deep knowledge of both OTR and solid tyre operations will be instrumental as we build on our significant investments in the division. I am confident Nick will make a strong contribution to our growth and I wish him every success in his new role."
Hankook Tire Europe Appoints Richard Bezzant As Truck And Bus Marketing Director
- By TT News
- August 27, 2025
Hankook Tire Europe GmbH has appointed Richard Bezzant as the new Marketing Director Truck and Bus with effect from 1 August 2025.
The British-born marketing and sales expert started his career with Michelin in UK in 2003. He brings with him more than two decades of experience in the tyre business for buses and trucks. Following a five-year period in leadership roles in France, he most recently served as Marketing Director for UK and Ireland, where he was responsible for developing and managing the complete marketing strategy across all business divisions.
Bezzant said, “My goal is to support growth opportunities for Hankook in the European truck and bus sector and expand them further. I am confident that we will be able to build on what has been achieved so far and continue to expand the business with innovative products and services. I am glad to be working with a great team to pursue our goals.”
Jang Hyuk Moon, Vice President – Marketing Department, Hankook Tire Europe, said, “With Richard Bezzant, we have appointed an industry-leading expert for our truck and bus marketing activities. With his decades of experience, we will consistently expand our business in the commercial vehicle sector and strengthen our market position in Europe in the long term.”
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