CEAT Limited reported a 23 percent year-on-year increase in consolidated revenue to INR 42.19 billion in the fourth quarter of the financial year ended 31 March  2026, with net profit of INR 2.44 billion and an EBITDA margin of 14.18 percent.

For the full year, the tyre maker posted consolidated revenue of INR 156.78 billion, up 18.6 percent, with net profit of INR 6.97 billion and an EBITDA margin of 13.16 percent.

CEAT Limited said the quarterly performance was supported by growth across segments, including its international business, despite geopolitical pressures.

Arnab Banerjee, Managing Director & Chief Executive, said: “FY26 has been a strong year where we delivered robust growth in top line as well as in bottom line. We crossed an important milestone of  INR 150 billion of revenue, accompanied by market share gains in replacement and OEMS. We successfully closed the CAMSO deal during the year.

“In Q4, we delivered high growth in all segments including international business, despite geopolitical tensions. Looking ahead, while there is a momentum on top line, we have short-term challenges on supply chain and costs due to steep increase raw material cost that we intent to mitigate through pricing and strong cost management. We intend to continue expanding our capacities in line with our growth plans.”

On a standalone basis, fourth-quarter revenue stood at INR 40.36 billion, up 18 percent year on year, with an EBITDA margin of 14.55 percent and net profit of INR 2.84 billion.

Kumar Subbiah, Chief Financial Officer, said: “In Q4, we improved operating margins by over 51 bps, driven by a sharper focus on operating efficiencies, scale and disciplined cost management. For the year, we delivered our highest-ever profit of INR 6.97 billion. “Our balance sheet continues to be strong and leverage ratios remain healthy to provide growth capital to the business. While gross debt has increased, we remain committed to maintaining a cautious leverage profile with adequate liquidity.

Comments (0)

ADD COMMENT

Link Copied!

NEXEN TIRE has revamped the organisational framework for its European operations, merging its replacement equipment (RE) and original equipment (OE) divisions under a single executive leader. The restructuring is intended to deepen coordination throughout the region and reinforce the company’s ongoing expansion efforts there.

DC (DAE CHOONG) KIM has been named to head the newly formed European organisation. He returns to NEXEN TIRE Europe from Korea to assume this executive role, having first joined the European arm in 2014 and served as Vice President of Europe & Sales Marketing until 2024, then as Executive Vice President of Global Sales until September 2026.

In his new capacity, KIM will manage the combined European RE and OE sales organisation, fostering closer alignment between the two areas and sharpening NEXEN TIRE’s overall market approach. His leadership is expected to bolster customer focus, business development and long-term growth across the region.

Additionally, JEFF (JAE HOON) ROH, formerly Vice President of Europe Sales & Marketing, becomes Vice President of Global Sales Planning. He will help Nexen Tire offices worldwide maximise performance, with emphasis on US and Europe, and refine global channel strategy. The new structure and appointment came in force on 1 October.

Comments (0)

ADD COMMENT

Link Copied!

Grismer Tire & Auto Service, a tyre and automotive service centre operator backed by CenterOak Partners LLC, has named Chris Blanchette as Chief Executive Officer and Mark Hedstrom as Chief Financial Officer. The announcement marks a significant leadership transition for the portfolio company.

Blanchette arrives with over two decades of senior leadership experience in multi-site consumer services, specialising in operations, strategy and business development. He most recently served as Chief Executive Officer of Service Minds, a residential electrical, plumbing and HVAC services provider. His background also includes serving as Chief Operating Officer of QAS, which operates Valvoline Instant Oil Change locations, along with senior operational positions at Advance Auto Parts, Bridgestone Retail Operations and Best Buy.

Hedstrom brings more than three decades of finance expertise to his new role. He previously held the Chief Financial Officer position at W.S. Connelly & Co., a multi-regional specialty distributor, and has also served as Chief Financial Officer for several private equity-backed consumer and distribution companies.

Eric Holter, Managing Director, CenterOak, said, “Chris Blanchette brings highly relevant leadership experience in the automotive aftermarket. He has led complex, multi-location organisations and understands how to translate operational discipline into sustainable growth. Together, Chris and Mark add important depth to Grismer’s leadership team as the Company pursues expansion in existing and new markets.”

Blanchette said, “Grismer’s 90-year history and the trust it has earned with customers set the Company apart. I am excited to join a business with such a strong legacy and see significant

Comments (0)

ADD COMMENT

Link Copied!

The International Rubber Conference (IRC) will return to Japan in November for the first time in a decade, with more than 271 technical presentations and over 117 exhibitors expected to take part.

The event, known as IRC 2026 Aichi, will be hosted by the Society of Rubber Science and Technology, Japan, alongside the Rubber & Elastomer Technical Exhibition in Aichi. It is scheduled to run from 2^nd to 6^th  November, with the exhibition opening a day later and continuing until 6^th  November .

Held at the Aichi International Exhibition Center, also known as Aichi Sky Expo, the venue is located near Chubu Centrair International Airport and can be reached from Nagoya Station in about 28 minutes by train.

The conference programme will feature more than 271 presentations spanning rubber science, technology and industrial applications. Participants include James Busfield of Queen Mary University of London and Nobuyuki Tamura of Bridgestone Corporation, who also chairs the Japan Rubber Manufacturers Association. More than 400 delegates have already registered.

Running alongside the conference, the Rubber & Elastomer Technical Exhibition will host more than 117 exhibitors, ranging from raw material suppliers and machinery manufacturers to tyre makers and testing-equipment providers. The exhibition will be open to visitors free of charge.

The International Rubber Conference, first held in 1966, rotates annually across global host cities. The last event in Japan took place in Kitakyushu in 2016, with subsequent editions held in Haikou, Istanbul and Bangkok.

Comments (0)

ADD COMMENT

Link Copied!

Italian tyre major Pirelli has announced a multi-year investment plan worth approximately EUR 1 billion (USD 1.2 billion) to expand its manufacturing facility in Rome, Georgia in the United States. The motion passed by majority vote, with board members Zhang Haitao, Xi Xiaohong and Wang Kun voting against the proposal.

The capital expenditure program, scheduled to begin in 2027 and will go through 2033, aims to expand annual production capacity at the Georgia site to six million tyres and create approximately 1,000 jobs.

The United States represents the largest market for high-value tyres globally, accounting for roughly 40 percent of global volumes. The project will be carried out in two phases without altering Pirelli's financial targets for 2026.

Phase one of the expansion will introduce modular robotised production systems based on Pirelli's Modular Integrated Robotised System technology, scaling annual output to three million tyres starting in 2028.

In phase two, the company will begin construction of an automated production facility to add three million units of annual capacity. The expanded plant will produce connected tyre systems, including Cyber Tyre technology, following market authorisation granted by the US Bureau of Industry and Security under Italy’s 2026 Golden Power Decree.

Alongside the investment decision, the board approved an organisational restructuring resulting in the immediate elimination of the Corporate General Management function. As part of the changes, Corporate General Manager Francesco Tanzi will step down from his executive role, maintaining an employment relationship through 31 December 2026 to facilitate the leadership transition.

Under the terms approved by the board and the Remuneration Committee, Tanzi will receive a severance payment equivalent to 13 months’ remuneration, payable by February 2027, alongside accrued rights under existing short-term and long-term incentive plans. He has agreed to a two-year non-compete covenant covering Pirelli's primary operating regions in exchange for 130 percent of his gross annual salary, paid in eight quarterly instalments. Following the end of his employment, Tanzi will provide advisory services under a two-year consultancy contract with an annual fee of EUR 350,000, plus non-monetary benefits valued at EUR 45,000.

Comments (0)

ADD COMMENT

Link Copied!