Ceat Ltd Proposes ₹1,205 Cr Capex for Tyre Capacity Expansion

Ceat Ltd's Board of Directors has approved a significant capital expenditure of ₹1,205 Crores to augment its tyre manufacturing capacity. The proposed expansion aims to add approximately 53,000 tyres per day to its existing capacity, which currently stands at about 80,000 tyres per day and operates at ~95% utilization. This investment, expected to be completed progressively by the end of FY2031, will be funded through a mix of internal accruals and debt. The rationale behind this expansion is the nearing full utilization of the two-wheeler tyre production capacity at the Nagpur plant. Additionally, the Board re-appointed M/s. B S R & Co. LLP as Statutory Auditors for a second five-year term.