CIE Automotive India Ltd
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]
- Market Cap ₹ 17,805 Cr.
- Current Price ₹ 469
- High / Low ₹ 487 / 357
- Stock P/E 28.9
- Book Value ₹ 150
- Dividend Yield 1.49 %
- ROCE 14.5 %
- ROE 11.2 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 40.8%
Cons
- Stock is trading at 3.13 times its book value
- Company has a low return on equity of 11.5% over last 3 years.
- Promoter holding has decreased over last 3 years: -9.26%
- Working capital days have increased from 46.6 days to 110 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,642 | 1,331 | 1,611 | 1,961 | 3,146 | 2,894 | 2,145 | 3,291 | 4,398 | 4,570 | 4,563 | 4,896 | |
| 1,507 | 1,230 | 1,464 | 1,764 | 2,724 | 2,549 | 1,943 | 2,862 | 3,776 | 3,857 | 3,832 | 4,133 | |
| Operating Profit | 135 | 101 | 147 | 196 | 423 | 345 | 202 | 429 | 622 | 713 | 732 | 764 |
| OPM % | 8% | 8% | 9% | 10% | 13% | 12% | 9% | 13% | 14% | 16% | 16% | 16% |
| 20 | 6 | 12 | 5 | -102 | 44 | 20 | 5 | 159 | 150 | 173 | 192 | |
| Interest | 16 | 3 | 9 | 11 | 7 | 14 | 12 | 12 | 13 | 11 | 12 | 7 |
| Depreciation | 69 | 54 | 71 | 76 | 102 | 113 | 108 | 119 | 133 | 136 | 144 | 152 |
| Profit before tax | 70 | 50 | 79 | 115 | 212 | 264 | 102 | 302 | 633 | 717 | 749 | 797 |
| Tax % | -11% | 37% | 35% | 40% | 56% | 35% | 27% | 63% | 19% | 22% | 22% | 23% |
| 78 | 31 | 52 | 69 | 94 | 172 | 74 | 110 | 512 | 562 | 583 | 617 | |
| EPS in Rs | 2.40 | 0.97 | 1.36 | 1.83 | 2.48 | 4.55 | 1.95 | 2.91 | 13.50 | 14.82 | 15.38 | 16.26 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 86% | 19% | 34% | 46% | 43% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 14% |
| 5 Years: | 18% |
| 3 Years: | 4% |
| TTM: | 7% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 35% |
| 5 Years: | 53% |
| 3 Years: | 9% |
| TTM: | 6% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 21% |
| 3 Years: | 7% |
| 1 Year: | 12% |
| Return on Equity | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 10% |
| 3 Years: | 11% |
| Last Year: | 11% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 323 | 323 | 378 | 378 | 379 | 379 | 379 | 379 | 379 | 379 | 379 | 379 |
| Reserves | 1,986 | 2,021 | 3,086 | 3,121 | 3,318 | 3,492 | 3,566 | 3,671 | 4,092 | 4,561 | 4,953 | 5,308 |
| 58 | 18 | 138 | 101 | 86 | 97 | 93 | 238 | 171 | 112 | 33 | 23 | |
| 369 | 410 | 414 | 492 | 756 | 779 | 974 | 1,140 | 1,201 | 1,187 | 1,201 | 1,262 | |
| Total Liabilities | 2,735 | 2,772 | 4,017 | 4,092 | 4,539 | 4,748 | 5,012 | 5,429 | 5,842 | 6,239 | 6,566 | 6,973 |
| 521 | 529 | 511 | 611 | 1,906 | 2,018 | 2,122 | 2,208 | 2,257 | 2,317 | 2,391 | 2,375 | |
| CWIP | 90 | 22 | 6 | 25 | 72 | 38 | 69 | 59 | 42 | 37 | 57 | 106 |
| Investments | 1,577 | 1,621 | 2,906 | 2,755 | 1,383 | 1,672 | 1,813 | 2,004 | 2,268 | 2,526 | 2,758 | 3,185 |
| 547 | 600 | 593 | 701 | 1,178 | 1,019 | 1,008 | 1,158 | 1,276 | 1,359 | 1,361 | 1,306 | |
| Total Assets | 2,735 | 2,772 | 4,017 | 4,092 | 4,539 | 4,748 | 5,012 | 5,429 | 5,842 | 6,239 | 6,566 | 6,973 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 116 | 97 | 136 | 152 | 215 | 397 | 308 | 275 | 478 | 695 | 664 | 646 | |
| -52 | -66 | -708 | -78 | -206 | -398 | -252 | -375 | -304 | -427 | -364 | -434 | |
| -89 | -11 | 560 | -63 | 5 | 0 | -26 | 68 | -172 | -164 | -284 | -283 | |
| Net Cash Flow | -25 | 20 | -13 | 11 | 14 | -1 | 30 | -32 | 2 | 104 | 16 | -71 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| 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 | 51 | 63 | 55 | 61 | 63 | 66 | 70 | 50 | 48 | 37 | 33 | 29 |
| Inventory Days | 62 | 88 | 62 | 61 | 87 | 70 | 120 | 101 | 75 | 70 | 71 | 73 |
| Days Payable | 87 | 115 | 110 | 111 | 94 | 97 | 176 | 127 | 96 | 93 | 96 | 103 |
| Cash Conversion Cycle | 26 | 35 | 7 | 11 | 56 | 39 | 14 | 24 | 26 | 14 | 8 | -0 |
| Working Capital Days | 15 | 41 | -6 | 5 | 37 | 25 | 7 | 3 | 12 | 11 | 19 | 110 |
| ROCE % | 5% | 3% | 3% | 4% | 9% | 7% | 3% | 8% | 14% | 15% | 15% | 15% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
9h - Audio recording of CIE Automotive India Q4 & FY2025 results call available online, 20 Feb 2026.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
11h - Investor meetings on 26 Feb 2026 in Mumbai organized by Kotak; one-on-one/group.
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Announcement under Regulation 30 (LODR)-Investor Presentation
1d - Investor Presentation for- Q4 & Full Year CY 2025 Results
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Intimation Of Appointment Of Internal Auditor Of The Company
1d - Appointment of Protiviti India as Internal Auditor from 19 Feb 2026 for FY ending 31 Dec 2026.
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Intimation Of Record Date
1d - Board recommended Rs.7/share final dividend; AGM on 29 April 2026; Record date 22 April 2026.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
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Concalls
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Feb 2026TranscriptAI SummaryPPT
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Overview
Company is part of the CIE Automotive Group of Spain and is the Group’s vehicle for its forgings business globally. It is a multi-locational and multi-technology automotive components company with manufacturing facilities and engineering capabilities of its own and its subsidiaries in India and in Germany, Spain, Lithuania, and Italy and Mexico. [1]