CIE Automotive
CIE Automotive
AutomobilesKey Fundamentals
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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
anthropic claude-opus-4.6 2d agoCIE Automotive India Ltd trades at a market cap of Rs 14,402 Cr with a PE of 16x and PB of 1.87x. The company has delivered strong profit CAGR of 54% over 5 years on a nearly debt-free balance sheet, but sales growth has been modest at 9% over the same period, and the stock has declined 5% over the past year.
- Company is almost debt-free, providing significant financial flexibility and low interest burden in a capital-intensive auto components sector
- Strong 5-year compounded profit growth of 54% CAGR indicates meaningful margin expansion and operational leverage
- PE of 16x is reasonable relative to the broader auto ancillary sector, suggesting the stock is not excessively priced for its profit growth track record
- TTM sales growth of 13% shows an acceleration from the 3-year CAGR of just 2%, suggesting a potential recovery in revenue momentum
- TTM profit growth of 15% continues the trend of double-digit earnings expansion, supported by operational improvements
- Healthy dividend payout of 27% with a dividend yield of 1.83% offers income visibility, which is above average for mid-cap auto ancillary peers
- 3-year ROE of 15% and last year ROE of 12% demonstrate consistent return generation on shareholder equity above cost of capital
- 10-year compounded profit growth of 21% CAGR reflects a long track record of sustained earnings compounding through multiple cycles
- 5-year compounded sales growth of only 9% signals limited top-line momentum, raising questions about volume growth and pricing power
- Stock price has declined 5% over 1 year and posted a negative 3-year CAGR of -8%, indicating sustained underperformance versus broader markets
- 3-year compounded sales growth of just 2% suggests near-stagnation in revenue during FY21-FY24, well below inflation
- ROE has declined from 15% on a 3-year basis to 12% last year, indicating a potential deterioration in capital efficiency
- PB of 1.87x on a declining ROE trajectory may limit further re-rating unless profitability metrics improve
- 10-year stock CAGR of only 7% suggests the market has not fully rewarded the company's profit growth, pointing to a persistent valuation discount or structural concerns
- 5-year ROE of 11% and 10-year ROE of 9% indicate that the recent improvement in returns is relatively recent and not yet proven as sustainable over full cycles
- 52-week high and low data unavailable (reported as 0), but the negative 1-year and 3-year stock CAGR suggest the stock is in a prolonged corrective phase
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 2h ago- India EBITDA margin dips 80bps Sep 04
Domestic business EBITDA margin declined by 80 basis points YoY in Q2 CY2026, impacted by price inflation arising from the West Asia conflict.
- Europe real sales down 6% Sep 04
European real sales growth in euro terms declined 6% YoY, with reported revenue flattered by a 13% positive forex impact rather than organic demand.
- Iron Casting CEO resigns Sep 04
Rajendra Vadlapudi resigned as CEO of the Iron Casting Division effective July 22, 2026, after 16 years with the company. No reason was disclosed.
- Q2 net profit up 15.5% Sep 04
CIE Automotive India reported Q2 CY2026 net profit of ₹236 crore, up 15.5% YoY from ₹204 crore, with revenue rising 11% to ₹2,621 crore and EBITDA up 16% to ₹390 crore.
- India revenue grows 13% YoY Sep 04
The India business continued to drive growth with revenue rising 13% YoY in Q2 CY2026, outpacing the consolidated 11% revenue growth.
- EBITDA margin expands to 14.9% Sep 04
Consolidated EBITDA margin improved to 14.9% from 14.2% a year earlier, aided by a 340bps margin expansion in the European business.
- ₹121 cr invested in CIE Hosur Sep 04
CIE Automotive India invested ₹120.76 crore in wholly owned subsidiary CIE Hosur via a rights issue at ₹174 per share. CIE Hosur's turnover grew from ₹1,124 million in 2023 to ₹1,752 million in 2025.
- Investor meets scheduled September Sep 01
CIE Automotive India scheduled two institutional investor meetings in Mumbai on September 11 and 21, 2026, organized by Axis Capital and Anand Rathi respectively.
TL;DR: CIE Automotive India delivered a solid Q2 CY2026 with 15.5% profit growth and improving consolidated margins, driven by strong India revenue momentum at 13% YoY. Key risks include margin compression in the domestic business from West Asia-linked inflation and weak organic demand in Europe. The departure of the Iron Casting Division CEO adds near-term uncertainty in a key segment. Overall the earnings trend is positive, but sustaining India margins and European recovery without forex tailwinds will be critical to watch in coming quarters.
Quarterly Results
| Particulars | 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
| Particulars | 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
| Particulars | 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
| Particulars | 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
| Particulars | 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% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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62 extracted metrics + investor summaries across FY10–FY27.
Documents
Frequently Asked Questions about CIE Automotive
What does CIE Automotive India Ltd do?
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Which sector does CIE Automotive India Ltd belong to?
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What is the PE ratio of CIE Automotive India Ltd?
What is the 52-week high and low of CIE Automotive India Ltd?
Does CIE Automotive India Ltd pay dividends?
What is the Return on Equity (ROE) of CIE Automotive India Ltd?
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]
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