- **CEAT is fundamentally a tyre company - it makes the rubber that meets the road for cars, trucks, motorcycles, tractors, and construction machines, with a presence in over 110 countries. It was born in Turin in 1924, rolled out its first Indian tyre in Mumbai in 1958, and became the tyre flagship of the RPG Group when the conglomerate acquired it in 1982. The recurring approach that explains everything else is an obsession with manufacturing quality - it was the first tyre company outside Japan to win the Deming Prize and the first globally to win the Deming Grand Prize - which it then uses to command premium positions with vehicle manufacturers and replacement buyers alike.** # Business segments Five engines at different stages - a domestic replacement and OEM core spanning every vehicle category, a global off-highway specialty business recently doubled down with a marquee acquisition, a cross-cutting export arm, and a manufacturing and R&D backbone that supplies them all - each built on a foundation of Total Quality Management. ## 1. Truck & Bus Radial tyres: the largest revenue engine, built on fleet longevity **CEAT sells radial tyres to commercial vehicle fleets and manufacturers where the purchase decision hinges on how many kilometres a tyre lasts before it needs replacing.** - **Twice the tread life** - the flagship Milaze X3 tyre lasts up to 1 lakh km, roughly double what a regular tyre delivers, which is the metric that matters most to long-haul truck operators. - **OEM approvals as a quality signal** - CEAT supplies tyres to Tata Motors, Ashok Leyland, Daimler, and VECV, among others, and has introduced the WinEnergy brand for electric three-wheelers, approved from prominent OEMs. - **Radial capacity built in advance of demand** - the Halol plant reached 4,200 truck-bus radial tyres per day in FY22, and a new Chennai facility was under construction to add another 1,500 per day, so the company can supply both domestic replacement demand and its growing export push. - **US entry with a value proposition** - in the American truck-tyre market, CEAT positions its quality as equivalent to the top three European brands but at a value price, and by mid-2024 had built channel coverage in about 60% of its targeted US geographies. ## 2. Two-Wheeler & Three-Wheeler tyres: the high-volume consumer franchise **CEAT makes tyres for motorcycles, scooters, and three-wheelers, selling through an extensive domestic dealer network and to vehicle manufacturers, with a growing premium and electric-vehicle portfolio.** - **A network of over 61,000 touchpoints** - the domestic replacement business reaches customers through more than 5,700 dealers and over 61,000 sub-dealers, which means a mechanic or a rider can find a CEAT tyre in most Indian towns. - **Steel radials for high-speed bikes** - the SPORTRAD motorcycle tyre uses steel-belted radial construction and is rated for speeds up to 270 kmph, while the CROSSRAD variant offers multi-terrain grip, both aimed at the growing 250cc-plus motorcycle segment. - **Puncture-safe with in-house gel technology** - CEAT developed a sealant gel that makes two-wheeler tyres puncture-safe, and claims to be the only company offering such a product in that segment, which is a tangible differentiator for daily commuters. - **Over half the electric two-wheeler OEM market** - in FY23, CEAT captured more than 50% of market share in the EV models, and it holds about a 20% share in that segment as of FY26, supplying makers like Hero Electric, Okinawa, and Ola. ## 3. Passenger Car & Utility Vehicle tyres: the premiumisation and EV play **CEAT produces radial tyres for everything from entry-level hatchbacks to luxury SUVs, with a deliberate push into larger rim sizes, ultra-high-performance tyres, and electric-vehicle fitments.** - **First to launch Run-Flat and 21-inch ZR-rated tyres in India** - the SportDrive Calm range includes an acoustic fabric that channels noise into a cancellation material, a technology that matters as cars get quieter and buyers get more discerning. - **30%-plus share of the passenger EV OEM segment** - CEAT introduced India's first EV-specific four-wheeler tyre range under the EnergyDrive brand, and it supplies a significant portion of electric cars rolling off Indian assembly lines. - **Recognised by global OEMs** - CEAT was the only tyre manufacturer globally to receive Hyundai's "Supplier of the Year 2025" award. - **Chennai capacity built for scale** - the Chennai greenfield plant was designed for an ultimate capacity of roughly 96 lakh passenger car radial tyres per year, with a further Rs. 1,314 crore expansion approved to add 35 lakh more, funded by debt and internal accruals. ## 4. Off-Highway & Specialty tyres: the global agricultural and construction bet, now doubled **CEAT makes tyres and tracks for tractors, harvesters, construction equipment, and material-handling vehicles, sold primarily in export markets through the CEAT Specialty unit and the newly acquired CAMSO brand.** - **Bought a global brand from Michelin** - in September 2025, CEAT completed the US$225 million all-cash acquisition of CAMSO's off-highway construction bias tyre and tracks business, gaining two Sri Lankan factories, permanent ownership of the CAMSO brand, and access to over 40 international OEMs. - **A tariff advantage from Sri Lanka** - the US imposes a 50% tariff on off-highway tyres, but Sri Lankan exports face only a 20% tariff, giving the CAMSO plants a temporary cost edge over direct Indian exports. - **One-stop shop with 900-plus product offerings** - even before the CAMSO deal, CEAT Specialty covered roughly 84% of the agricultural tyre range requirement, and it added over 32 new off-highway SKUs in a single quarter to deepen that coverage. - **VF and electric-tractor tyres** - the Floatmax VF X3 uses Very High Flexion technology for fast-moving agricultural trailers and spreaders, while the Energymax is designed specifically for electric tractors with low rolling resistance and low noise. ## 5. International Business: the cross-cutting export engine **CEAT exports tyres from every product category to over 110 countries, using local distributors and, increasingly, direct customer relationships, with a focus on premium markets in Europe, the Middle East, Latin America, and the United States.** - **Exports are nearly a fifth of standalone revenue** - including CAMSO turnover, which is consumed entirely internationally, the international share rises to 23%, and international business was the fastest growing segment on YoY basis. - **Quality validated by German testers** - two of CEAT's tyre platforms ranked in the top 15 in independent German magazine tests, which the company uses as a credential when pitching to European distributors who compare it against the top three incumbents. - **Local distributors who fit and sell** - in each market, CEAT appoints distributors who already have relationships with retail outlets and fleet operators, selecting them based on whether their existing brand portfolio matches CEAT's value-price, premium-quality positioning. - **Subsidiaries in Brazil, Indonesia, and the UK** - CEAT has incorporated local entities in these markets to provide business support and trade, signalling an intent to move beyond pure distributor relationships toward direct market presence. # Manufacturing & Supply Chain **Six Indian plants and two Sri Lankan facilities produce over 53 million tyres a year, with two factories recognised as global Industry 4.0 lighthouses and a growing share of renewable energy and sustainable materials.** - **Lighthouse plants that learn** - the Halol and Chennai plants are the first tyre factories globally to be inducted into the World Economic Forum's Global Lighthouse Network; Halol cut cycle times by 20% and energy consumption by 15%, while Chennai improved dispatch turnaround by 54% and enhanced labour productivity by 25%. - **Six plants, each with a speciality** - Bhandup makes truck and farm tyres, Nashik handles passenger and truck radials, Halol focuses on radials, Nagpur is dedicated to two- and three-wheelers, Chennai produces radials across categories, and Ambernath makes agricultural and industrial tyres for export. - **Nearly half the energy from renewables** - renewable sources, including biomass, supplied 49.26% of total plant energy consumption in FY25, and a 59 MW hybrid wind-solar project with CleanMax is expected to push the clean-energy share to roughly 60% by FY27. - **\~32% usage of sustainable material in manufacturing of tyres** - the company uses reclaimed rubber, recovered carbon black, and rice-husk silica, and has field-proven a Sustainmax tyre with 81.2% sustainable content; the target is 40% sustainable material by 2030. - **Zero liquid discharge at five sites** - all plants are ISO 14001 and ISO 45001 certified, and the Bhandup plant operates at an industry-best power ratio of 0.618 kWh per kilogram of tyre produced. # Research & Development **Two R&D centres - one in Halol, India, and one in Frankfurt, Germany - house over 400 researchers, 234 patent filings, and a five-year technology roadmap that steers product development toward electrification, premiumisation, and sustainability.** - **A European outpost for advanced engineering** - the CEAT European Technical Centre in Frankfurt gives the company access to German automotive expertise and university collaborations, complementing the Halol centre's DSIR-accredited labs. - **Virtual prototyping that cuts development time by 90%** - the design studio uses VR-based design reviews, 3D printing, and Finite Element Analysis for noise simulation, so new tread patterns can be tested digitally before a physical mould is ever cut. - **A proprietary noise algorithm** - the CACTUS algorithm (CEAT Acoustic Comfort on Tread Using Simulation) fine-tunes the pitch sequencing on a tyre's tread to reduce road noise, a feature that becomes more noticeable as engines get quieter in electric vehicles. - **EV tyres across every vehicle category** - CEAT was one of the first tyre brands to roll out EV-specific tyre ranges for passenger cars, two-wheelers, and commercial vehicles, reflecting a deliberate R&D focus on the different weight, torque, and noise characteristics of electric vehicles. # Group structure and partners **CEAT is the tyre flagship of the RPG Group, a diversified conglomerate with US$5.2 billion in annual gross revenues, and it has expanded through a mix of organic capacity building, a major brand acquisition from Michelin, and a cluster of wholly owned subsidiaries in digital services and international markets.** - **CAMSO acquisition via a Sri Lankan subsidiary** - the US$225 million purchase of Michelin's CAMSO off-highway business was executed through CEAT OHT Lanka (Private) Limited, a wholly owned subsidiary, with CEAT remitting Rs. 27,398 lakhs as equity and Rs. 71,900 lakhs as a loan to fund the deal. - **Digital and fleet-management subsidiaries** - Tyresnmore, now a wholly owned subsidiary, sells tyres and batteries online with doorstep fitment; Taabi Mobility, incorporated in 2022, provides web-based analytics to help fleet operators manage costs and vehicle uptime. - **International subsidiaries in Brazil, Indonesia, and the UK** - CEAT Brazil Holding Ltda, PT CEAT Tyres Indonesia, and CEAT International UK Limited were incorporated to provide business support and trade, extending the company's direct footprint beyond its traditional distributor model. - **Captive renewable-energy partnerships** - CEAT holds stakes in special-purpose vehicles with CleanMax and Tata Power (TP Akkalkot Renewable Limited and Cleanwin Energy Five LLP) to build captive wind-solar capacity that supplies its Halol and Chennai plants.