CIE Automotive logo

CIE Automotive

CIEINDIA NSE

Key Fundamentals

SmallcapAuto ComponentsAutomobiles
Market Cap
₹14,446 Cr
Volatility
Moderate
P/E Ratio
15.81
EBITDA
₹1,464 Cr
Return on Equity
11.03%
Debt to Equity
0.82
Book Value
₹204.13
EPS
₹21.36
52W High
₹526
52W Low
₹366.9

Tapetide Score

Data-driven rating, 0–100. How it works →

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

Revenue Growth
4.44% higher than 3Y
Net Income Growth
0.33% lower than 3Y
Cash Flow Change
42.82% higher than 3Y
ROE
-11.55% lower than 3Y
ROCE
-12.01% higher than 3Y
EBITDA Margin (Avg.)
-5.93% lower than 3Y

AI Analysis — Bull vs Bear

6d ago
AI opinion · based on fundamentals
Risk medium

CIE Automotive India Ltd, a multi-technology auto components maker with a market cap of about ₹14,698 crore, trades at a P/E of 16.4x and a P/B of 1.91x, with a dividend yield of 1.8%. Profit has compounded at 54% over 5 years and 127% over 3 years, while sales have grown only 2% over 3 years and 9% over 5 years. ROE has averaged 15% over 3 years and was 12% last year. The stock has returned -6% CAGR over both 1 and 3 years.

Bull Case 8
  • Profit has compounded at 53.8% CAGR over 5 years and 127% over 3 years. That points to large margin gains and restructuring benefits rather than growth driven only by volume.
  • The company is almost debt free, which gives it balance-sheet room to fund capex or acquisitions and cushions it through cyclical auto downturns.
  • A P/E of 16.4x and a P/B of 1.91x are modest for an auto component company with ROE in the low-to-mid teens.
  • TTM profit growth of 15% ran ahead of TTM sales growth of 13%, so operating leverage is still showing up in recent results.
  • Sales growth picked up to 13% on a TTM basis, well above the 3-year CAGR of 2%, which may signal a revenue recovery.
  • A 27.0% dividend payout ratio and a 1.8% dividend yield give shareholders cash returns while leaving most earnings for reinvestment.
  • ROE has risen from a 10-year average of 9% to a 3-year average of 15%, showing better capital efficiency over the long run.
  • The stock returned 11% CAGR over 5 years despite recent weakness, so long-term shareholders have seen positive compounding.
Bear Case 7
  • The 3-year sales CAGR is only 2%, and the 5-year and 10-year sales CAGRs are about 9%. That is weak top-line growth for a company exposed to Indian and European auto demand.
  • The stock has delivered -6% CAGR over both 1 and 3 years, lagging during a period when many Indian auto component peers re-rated.
  • ROE fell to 12% last year from a 3-year average of 15%, which suggests profitability may be softening.
  • The 127% 3-year profit CAGR came against only 2% sales growth over the same period. Margin-led growth like this may be hard to repeat once cost and restructuring gains run out.
  • The 10-year ROE average of 9% and 10-year stock CAGR of 7% point to a history of middling returns on capital and for shareholders.
  • A 1.8% dividend yield and 27% payout offer only limited income support if earnings growth slows.
  • A 5-year ROE of 11% is only slightly above a typical cost of equity, which may help explain why the stock trades at a P/B of just 1.91x.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

1d ago
Headwinds 3
  • Europe real sales decline 6% Sep 4

    In Q2 CY2026, Europe's revenue rose 7% YoY, but sales in euro terms actually fell 6%. A 13% positive currency effect produced the reported growth, so underlying European demand remains weak.

  • India margins hit by inflation Sep 4

    India EBITDA margin fell 80 bps YoY in Q2 CY2026 because the West Asia conflict pushed up input prices, even though India revenue grew 13%. If the conflict continues, domestic margins could stay under pressure.

  • Iron Casting CEO resigns Sep 4

    Rajendra Vadlapudi resigned as CEO of the Iron Casting Division at the close of business on July 22, 2026, after 16 years with the company, and is no longer KMP. The company did not give a reason, which leaves a leadership gap in a key division.

Positives 4
  • Q2 CY26 profit up 15.5% Sep 4

    Net profit rose 15.5% YoY to ₹236 crore from ₹204 crore, and revenue grew 11% to ₹2,621 crore. EBITDA rose 16% to ₹390 crore, with margin improving to 14.9% from 14.2%.

  • Europe margins expand 340 bps Sep 4

    Europe's EBITDA margin rose 340 bps YoY in Q2 CY2026 despite lower volumes in euro terms. This points to strong cost control and operating efficiency in the region.

  • NCLT approves aluminium unit merger Sep 25

    The NCLT Mumbai Bench approved the merger of CIE Aluminium Casting India Limited into CIE Automotive India Limited through an order dated September 24, 2026. The merger should simplify the group structure and may bring operating synergies.

  • ₹121 cr infused into CIE Hosur Sep 4

    CIE Automotive India invested ₹120.76 crore in its wholly owned subsidiary CIE Hosur through a rights issue, buying 69.4 lakh shares at ₹174 each, and retains 100% ownership. CIE Hosur's turnover grew to ₹1,751.95 million in 2025 from ₹1,347.02 million in 2024, and the funds will go toward loan repayment and capex.

Neutral 3
  • ICICI Pru MF crosses 5% Sep 19

    ICICI Prudential MF bought 63,542 shares on September 17, 2026, taking its holding to 5.013% and triggering a SEBI takeover regulations disclosure. The move shows growing domestic institutional interest in the stock.

  • Active institutional investor engagement Sep 24

    The company held an institutional investor meeting on September 21, 2026, covering Q1 and Q2 CY2026 and FY25 results. It will also join Arihant Capital's virtual group conference on September 30, 2026.

  • Muted stock reaction Sep 4

    After the CIE Hosur announcement, shares closed at ₹383.65 on the BSE, down ₹1.05 (0.27%).

TL;DR: CIE Automotive delivered solid Q2 CY2026 results, with net profit up 15.5%, revenue up 11% and EBITDA margin up to 14.9%. India drove the growth, and Europe's margins expanded 340 bps. However, Europe's real volumes fell 6% in euro terms, India margins slipped 80 bps on West Asia-related inflation, and the Iron Casting CEO left without explanation. The aluminium casting merger, the CIE Hosur capital infusion and ICICI Pru MF's stake above 5% support a gradually improving trend. Margin resilience in India and recovery in European demand will be the main things to watch in the coming quarters.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Dec 2015 9mDec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025TTM
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%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025Jun 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
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 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
Figures in ₹ Crores

Ratios

Particulars Mar 2015Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 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%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Others2.28%Govt.0.05%Promot.65.70%FIIs4.95%Public6.37%DIIs20.65%As ofJun 2026

Documents

Frequently Asked Questions about CIE Automotive

What does CIE Automotive India Ltd do?
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 ...
Where is CIE Automotive India Ltd (CIEINDIA) listed?
CIE Automotive India Ltd trades as CIEINDIA on the NSE and under code 532756 on the BSE.
Which sector does CIE Automotive India Ltd belong to?
CIE Automotive India Ltd is classified under the Automobiles sector, in the Auto Components industry.
What is the market capitalisation of CIE Automotive India Ltd?
CIE Automotive India Ltd has a market capitalisation of ₹14,446 Cr, which places it in the Mid Cap band.
What is the PE ratio of CIE Automotive India Ltd?
CIE Automotive India Ltd trades at a PE ratio of 15.81, on earnings per share of ₹21.36, against a book value of ₹204.13 per share.
What is the 52-week high and low of CIE Automotive India Ltd?
Over the last 52 weeks CIE Automotive India Ltd has traded between ₹366.9 and ₹526.
Does CIE Automotive India Ltd pay dividends?
CIE Automotive India Ltd has a dividend yield of 1.81%.
What is the Return on Equity (ROE) of CIE Automotive India Ltd?
CIE Automotive India Ltd reported a return on equity of 11.03%. Its debt-to-equity ratio is 0.82.

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]

Website cie-india.com
CEO Mr. Ander Arenaza Alvarez
Employees 4,190
Listed 2007-08-30
Face Value ₹ 10
Issued Size 37,93,62,377

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