India Ratings & Research (Ind-Ra) has assigned CEAT a long-term issuer rating of 'A' with stable outlook. 

CEAT is among the top four manufacturers in the domestic tyre market since FY10 (year end March) through regular capacity augmentation consistent with steady demand growth. Its market position is bolstered by a diversified product range, which along with large revenue from exports and overseas operations has helped strengthen its overall business profile.

The company's strong revenue growth at a CAGR of 21% over FY10 to reach Rs 50,522.1 million in FY13 was aided by demand from the replacement and original equipment manufacturers markets, as well as exports.