CEAT Limited is a company that carries out manufacturing and selling of flaps, automotive tires and tubes in India. It offers multiple types of tyres for buses, light and heavy-duty vehicles, forklifts, scooters, earthmovers, commercial vehicles, cars and motorcycles, among others. CEAT has proven to have an active market worldwide and offers its products across 130 countries in multiple tyre segments.
The company currently has 30, 000 sub-dealers besides 4, 500 dealers. The company runs its manufacturing business through four of its units based in Halol, Bhandup, Nagpur, and Nashik. For serving foreign clients, it has offices located internationally as in Germany, UAE, and Indonesia. An essential subsidiary for the company CEAT Ltd is CEAT Speciality Tyres Limited.
CSTL manufactures and sales tyres for vehicles that fall in the off-the-road category including agriculture, construction, ports and mining industries. The company was incorporated back in 1958 and is the leading company belonging to RPG Group.
In February of 1960, the company manufactured its first-ever tyre at its Bhandup facility in Mumbai. An R&D facility was then set-up in Bhandup after eight long years in 1972. In June of 1981, a company, Deccan Fibre Glass Ltd merged with CEAT Ltd. On February 22, 1960, the first tyre rolled out from the company's factory at Bhandup in Mumbai. In the following year, 1982, the company was acquired by RPG Group.
In 1987, the company went into an agreement with Toray Industries Incorporation from Japan. This technical agreement was signed for commission a production unit at Malanpur in Madhya Pradesh which would be responsible for producing nylon tyre fabric besides nylon industrial yarn cord. In 1988 the company got a new subsidiary by the name of Meteoric Industrial Finance Company Pvt Ltd. In the following year, 1989, CEAT saw got a new company to merge with it going by the name of Murphy India Limited. It was later on January 10, 1990, when CEAT Tyres of India Ltd got renamed to CEAT Ltd. Three years later, in 1993 the company collaborated with Yokohama Rubber Company from Japan to carry out production from a unit in Nasik. In 1996, Maestro, the first-ever radial tyre in India, was launched by the company.
During 2004-2005, the company lost a subsidiary named Malabar Coastal Holdings Ltd During 2005-2006, three of the company's subsidiary company merged with it, namely Meteoric Industrial Finance Company Limited, CEAT Holdings, and CEAT Ventures Ltd. The investment part of the company CEAT Ltd was transferred to CHI Investments in July of 2007. Soon after, in 2008-2009, the scheme of arrangement was executed by the company.
In the Financial Year 2013 to 2014 session, the Research and Development division of CEAT launched more than a hundred products in India as well as Sri Lanka. The company's brand new Dhoom 3 tyre turned out to gain massive popularity among youngsters. This was a much necessary boost and got them to set an image of an established company.
In the financial year-end of 2016, in March, the company successfully launched 70 new goods. This new range in the fiscal year 2015 to 2016 included Milaze TL, Milaze, Gripp XL, FuelSmart, Pro Gripp and CZAR. With the next financial year-end in 2017, CEAT had come up with 92 new products in diverse categories. Puncture is one key area to address and the company in the same period came up with a Puncture safe motorcycle tyre to address this issue. This was an innovative move for which the company went on to ask for a patent.
The company has an international subsidiary in the USA named CEAT Speciality Tires Inc. The company currently operates in Sri Lanka through a joint venture. The other company with the joint venture in Sri Lanka is CEAT Kelani Holdings Company Pvt Ltd. The company's current off-road tyre production unit commenced its operations in Ambernath, located in Maharashtra, during 2017-2018.
How Ceat Ltd, is categorised as a Tyres Sector, and Tyres & Tubes Industry :
The Indian Tyre and Tubes industry is ancillary of the automobile industry. Demand swings in any of the auto segments(commercial vehicles, cars, two-wheelers) have an impact on the tyre demand. The Indian tyre industry is in the modernization phase and is primarily driven by demand and supply conditions.
Ceat Ltd is categorized under Tyres sector and Tyres and Tubes industry. Tyres sector has been cruising fast and steady for nearly nine years now. Many stocks from this sector have grown in thousand percentage points over this period. Tyre sector is directly or indirectly influence the country’s growth. Globalization has driven to the linking of the economies of all the nations, and hence major Indian companies in the tyre sector are pursuing global strategies to improve their competitiveness in world markets.
Ceat Ltd, Competitors and Sector Peers:
Balkrishna Industries Ltd. BALKIN
Goodyear India Ltd. GOODYI
Govind Rubber Ltd. GOVRUB
Innovative Tyres & Tubes Ltd. INNTYR
JK Tyre & Industries Ltd. JKTYR