CIE Automotive India Ltd
CIE Automotive India Ltd
AutomobilesKey Fundamentals
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BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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58 extracted metrics + investor summaries across FY10–FY26.
Tapetide Score
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Technical Indicators
Key Insights
Strengths
3- Company is almost debt free.
- Company has delivered good profit growth of 53.8% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 27.0%
Weaknesses
1- The company has delivered a poor sales growth of 9.23% over past five years.
Growth Rate
AI Analysis — Bull vs Bear
CIE Automotive India Ltd trades at a market cap of Rs 15,630 crore with a PE of 17.3x and a dividend yield of 1.7%. The company has delivered strong profit CAGR of 54% over 5 years on a near debt-free balance sheet, though sales growth has been modest at 9% CAGR over the same period.
- Near debt-free balance sheet provides financial flexibility and reduces interest cost burden
- Strong 5-year compounded profit growth of 54% CAGR significantly outpacing revenue growth, indicating margin expansion
- Reasonable valuation at PE of 17.3x relative to the auto ancillary sector, with price-to-book at 2.02x
- Healthy dividend payout ratio of 27% with a current dividend yield of 1.7%, offering income alongside capital appreciation potential
- 3-year average ROE of 15% demonstrates consistent ability to generate returns on shareholder equity
- TTM sales growth of 13% shows acceleration from the 3-year CAGR of just 2%, suggesting improving demand environment
- TTM profit growth of 15% continues the trajectory of earnings compounding above sales growth
- 10-year compounded profit growth of 21% reflects a long track record of earnings delivery across cycles
- Poor 5-year sales CAGR of only 9.23% raises questions about the company's ability to grow its topline organically
- 3-year stock CAGR of -5% indicates the market has de-rated the stock despite profit growth, reflecting sentiment concerns
- 3-year compounded sales growth of just 2% suggests near-stagnation in revenues during the recent period
- Last year ROE of 12% has declined from the 3-year average of 15%, indicating possible deterioration in capital efficiency
- 5-year stock CAGR of 11% only marginally above broader market returns despite 54% profit CAGR, suggesting persistent valuation compression
- 10-year ROE averaging only 9% indicates historically inconsistent return generation over full cycles
- Automobile sector cyclicality exposes earnings to demand downturns, and the 52-week high/low data unavailability limits visibility on recent price volatility
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Iron Casting CEO resigns Jul 22
Rajendra Vadlapudi resigned as CEO of the Iron Casting Division effective July 22, 2026. Leadership vacancy in a key division creates near-term execution uncertainty.
- Strong Q2 CY26 profit growth Jul 27
Consolidated PAT rose 18% to ₹4,850 million in H1 CY26. Revenue increased 13% to ₹50,843 million, driven by Indian business growth and European margin recovery.
- 12-15% growth guidance for H2 Jul 23
Management guided for 12-15% growth in the last two quarters of 2026 during the Q2 concall, signaling confidence in demand visibility.
- Large iron casting order secured Jul 23
CIE Automotive secured a large order for iron casting with additional contracts anticipated in the near future, underscoring continued demand for casting capabilities.
- New production line by mid-2027 Jul 23
CIE Automotive announced a new production line expected to begin operations by mid-2027, expanding manufacturing footprint.
- ₹297 crore block trade executed Jul 23
A block trade of ~71 lakh shares worth ₹297.13 crore was executed on BSE at ₹418.50 per share, indicating significant institutional activity.
- Investor meets scheduled Aug-Sep Aug 5
CIE Automotive India scheduled investor interactions in Mumbai on August 14 and September 3, 2026, organized by Emkay Global and Elara Capital.
- Q2 CY26 concall recording published Jul 23
Audio recording of the Q2CY2026 results conference call held on July 23, 2026 was published on the corporate website.
TL;DR: CIE Automotive India is delivering strong double-digit profit growth (PAT +18% in H1 CY26) with both Indian and European operations contributing. Management's 12-15% H2 growth guidance and a new large casting order provide near-term revenue visibility. The key risk is the Iron Casting Division CEO's resignation creating a leadership gap in an important segment. Overall trend is improving, supported by capacity expansion plans and order wins.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,320 | 2,279 | 2,240 | 2,427 | 2,293 | 2,135 | 2,110 | 2,273 | 2,369 | 2,372 | 2,393 | 2,612 | 2,621 |
| Expenses | 1,950 | 1,934 | 1,913 | 2,066 | 1,933 | 1,804 | 1,811 | 1,937 | 2,032 | 2,016 | 2,058 | 2,210 | 2,231 |
| Operating Profit | 370 | 345 | 327 | 361 | 360 | 331 | 299 | 335 | 337 | 356 | 335 | 402 | 390 |
| OPM % | 16% | 15% | 15% | 15% | 16% | 15% | 14% | 15% | 14% | 15% | 14% | 15% | 15% |
| Other Income | 108 | 209 | 18 | 52 | 32 | 27 | 40 | 37 | 23 | 20 | 28 | 31 | 31 |
| Interest | 22 | 31 | 30 | 22 | 21 | 17 | 18 | 13 | 2 | 4 | 9 | 9 | 10 |
| Depreciation | 83 | 78 | 78 | 86 | 84 | 80 | 81 | 86 | 87 | 89 | 96 | 94 | 97 |
| PBT | 372 | 445 | 237 | 304 | 287 | 260 | 240 | 273 | 271 | 283 | 259 | 329 | 313 |
| Tax % | 19% | 16% | 29% | 24% | 24% | 25% | 23% | 25% | 25% | 24% | 21% | 24% | 25% |
| Net Profit | 302 | 375 | 169 | 230 | 217 | 195 | 185 | 206 | 204 | 214 | 204 | 249 | 236 |
| EPS in Rs | 7.95 | 9.9 | 4.45 | 6.08 | 5.72 | 5.15 | 4.88 | 5.44 | 5.37 | 5.64 | 5.39 | 6.57 | 6.21 |
Profit & Loss
| Mar 2015 | Dec 2015 9m | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 5,570 | 4,001 | 5,320 | 6,428 | 8,032 | 7,908 | 6,050 | 6,765 | 8,753 | 9,280 | 8,964 | 9,406 | 9,997 |
| Expenses | 5,128 | 3,638 | 4,789 | 5,622 | 7,031 | 6,940 | 5,548 | 5,823 | 7,581 | 7,856 | 7,613 | 8,044 | 8,516 |
| Operating Profit | 442 | 363 | 531 | 806 | 1,001 | 968 | 502 | 942 | 1,172 | 1,424 | 1,351 | 1,362 | 1,482 |
| OPM % | 8% | 9% | 10% | 13% | 12% | 12% | 8% | 14% | 13% | 15% | 15% | 14% | 15% |
| Other Income | -183 | -49 | 22 | 20 | 39 | 28 | 55 | 32 | -749 | 409 | 150 | 109 | 110 |
| Interest | 121 | 50 | 59 | 51 | 50 | 52 | 55 | 35 | 23 | 107 | 78 | 27 | 32 |
| Depreciation | 238 | 163 | 232 | 268 | 287 | 316 | 306 | 273 | 296 | 322 | 331 | 358 | 376 |
| PBT | -100 | 101 | 262 | 507 | 702 | 628 | 195 | 666 | 104 | 1,403 | 1,092 | 1,087 | 1,184 |
| Tax % | -22% | 24% | 35% | 29% | 29% | 44% | 45% | 41% | 231% | 20% | 24% | 24% | — |
| Net Profit | -78 | 77 | 169 | 358 | 498 | 354 | 106 | 393 | -136 | 1,125 | 828 | 828 | 903 |
| EPS in Rs | -2.42 | 2.37 | 4.47 | 9.47 | 13.15 | 9.33 | 2.81 | 10.37 | -3.59 | 29.66 | 21.81 | 21.83 | 23.81 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 24% | -70% | 17% | 32% | 32% | — |
Balance Sheet
| Mar 2015 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 323 | 323 | 378 | 378 | 379 | 379 | 379 | 379 | 379 | 379 | 379 | 379 | 379 |
| Reserves | 1,564 | 1,683 | 2,888 | 3,337 | 3,910 | 4,255 | 4,529 | 4,818 | 4,719 | 5,609 | 6,197 | 7,080 | 7,364 |
| Borrowings | 1,549 | 1,085 | 1,392 | 1,197 | 1,613 | 1,469 | 1,648 | 1,487 | 985 | 855 | 570 | 426 | 513 |
| Other Liabilities | 1,515 | 2,052 | 2,177 | 2,587 | 2,582 | 2,460 | 2,808 | 3,137 | 3,837 | 2,909 | 2,602 | 2,850 | 3,055 |
| Total Liabilities | 4,951 | 5,143 | 6,835 | 7,499 | 8,484 | 8,563 | 9,364 | 9,821 | 9,920 | 9,753 | 9,749 | 10,736 | 11,313 |
| Fixed Assets | 3,124 | 3,293 | 4,517 | 4,750 | 4,905 | 6,044 | 6,741 | 6,587 | 5,547 | 5,810 | 5,857 | 6,200 | 6,257 |
| CWIP | 126 | 56 | 97 | 60 | 96 | 54 | 12 | 125 | 119 | 54 | 66 | 130 | 167 |
| Investments | 57 | 67 | 39 | 55 | 681 | 96 | 234 | 438 | 576 | 821 | 1,038 | 1,459 | 771 |
| Other Assets | 1,643 | 1,727 | 2,182 | 2,634 | 2,802 | 2,370 | 2,376 | 2,671 | 3,678 | 3,068 | 2,787 | 2,947 | 4,118 |
| Total Assets | 4,951 | 5,143 | 6,835 | 7,499 | 8,484 | 8,563 | 9,364 | 9,821 | 9,920 | 9,753 | 9,749 | 10,736 | 11,313 |
Cash Flow
| Mar 2015 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 322 | 680 | 304 | 512 | 708 | 1,027 | 539 | 1,051 | 1,118 | 1,383 | 881 | 1,258 |
| Investing | -184 | -225 | -831 | -303 | -1,017 | -589 | -422 | -762 | -637 | -905 | -237 | -802 |
| Financing | -294 | -494 | 575 | -236 | 362 | -404 | -38 | -363 | -488 | -427 | -553 | -526 |
| Net Cash Flow | -155 | -39 | 48 | -26 | 53 | 34 | 80 | -74 | -6 | 51 | 91 | -70 |
| Free Cash Flow | 115 | 479 | 106 | 212 | 304 | 613 | 238 | 573 | 675 | 871 | 500 | 885 |
| CFO/OP | 78 | 194 | 68 | 77 | 85 | 118 | 118 | 123 | 112 | 122 | 85 | 112 |
Ratios
| Mar 2015 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 28 | 35 | 36 | 34 | 34 | 34 | 43 | 36 | 36 | 25 | 26 | 24 |
| Inventory Days | 98 | 152 | 142 | 128 | 123 | 103 | 131 | 148 | 93 | 86 | 85 | 86 |
| Days Payable | 149 | 296 | 260 | 204 | 169 | 144 | 190 | 212 | 163 | 144 | 124 | 143 |
| Cash Conversion Cycle | -24 | -109 | -82 | -42 | -12 | -7 | -16 | -28 | -35 | -32 | -13 | -33 |
| Working Capital Days | -9 | -73 | -48 | -20 | -18 | -31 | -44 | -45 | -34 | -38 | -2 | -16 |
| ROCE % | 10% | 10% | 8% | 12% | 14% | 11% | 4% | 11% | 15% | 18% | 17% | 15% |
Documents
Frequently Asked Questions about CIE Automotive India Ltd
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Company Information
CIE Automotive Limited is a subsidiary of CIE Automotive S.A, Spain. Mahindra Vehicle Manufacturing Ltd. was a significant shareholder in the company. The company is engaged in the business of production and sale of automotive components to original equipment manufacturers and other customers in India and overseas. [1]