CIE Automotive India Ltd
Mahindra CIE Automotive Limited is a subsidiary of CIE Automotive S.A, Spain. Mahindra Vehicle Manufacturing Ltd. is also 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 ₹ 19,008 Cr.
- Current Price ₹ 501
- High / Low ₹ 628 / 401
- Stock P/E 23.2
- Book Value ₹ 163
- Dividend Yield 1.00 %
- ROCE 18.3 %
- ROE 20.3 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Debtor days have improved from 32.3 to 24.9 days.
Cons
- Stock is trading at 3.07 times its book value
- Company has a low return on equity of 9.14% over last 3 years.
- Promoter holding has decreased over last 3 years: -6.49%
* 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.
Peer comparison
Sector: Castings, Forgings & Fastners Industry: Castings & Forgings
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2,216 | 2,591 | 5,570 | 4,001 | 5,320 | 6,428 | 8,032 | 7,908 | 6,050 | 6,765 | 8,753 | 9,280 | 9,095 | |
2,173 | 2,482 | 5,128 | 3,638 | 4,789 | 5,622 | 7,031 | 6,940 | 5,548 | 5,823 | 7,581 | 7,856 | 7,716 | |
Operating Profit | 43 | 109 | 442 | 363 | 531 | 806 | 1,001 | 968 | 502 | 942 | 1,172 | 1,424 | 1,378 |
OPM % | 2% | 4% | 8% | 9% | 10% | 13% | 12% | 12% | 8% | 14% | 13% | 15% | 15% |
3 | 4 | -183 | -49 | 22 | 20 | 39 | 28 | 55 | 32 | -749 | 409 | 129 | |
Interest | 49 | 63 | 121 | 50 | 59 | 51 | 50 | 52 | 55 | 35 | 23 | 107 | 90 |
Depreciation | 110 | 120 | 238 | 163 | 232 | 268 | 287 | 316 | 306 | 273 | 296 | 322 | 328 |
Profit before tax | -114 | -70 | -100 | 101 | 262 | 507 | 702 | 628 | 195 | 666 | 104 | 1,403 | 1,089 |
Tax % | -0% | 17% | -22% | 24% | 35% | 29% | 29% | 44% | 45% | 41% | 231% | 20% | |
-114 | -81 | -78 | 77 | 169 | 358 | 498 | 354 | 106 | 393 | -136 | 1,125 | 811 | |
EPS in Rs | -12.36 | -8.82 | -2.42 | 2.37 | 4.47 | 9.47 | 13.15 | 9.33 | 2.81 | 10.37 | -3.59 | 29.66 | 21.40 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 24% | -70% | 17% |
Compounded Sales Growth | |
---|---|
10 Years: | 15% |
5 Years: | 3% |
3 Years: | 15% |
TTM: | -2% |
Compounded Profit Growth | |
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10 Years: | 28% |
5 Years: | 18% |
3 Years: | 127% |
TTM: | 7% |
Stock Price CAGR | |
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10 Years: | 9% |
5 Years: | 27% |
3 Years: | 22% |
1 Year: | 4% |
Return on Equity | |
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10 Years: | 8% |
5 Years: | 8% |
3 Years: | 9% |
Last Year: | 20% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Jun 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 92 | 92 | 323 | 323 | 378 | 378 | 379 | 379 | 379 | 379 | 379 | 379 | 379 |
Reserves | 662 | 564 | 1,564 | 1,683 | 2,888 | 3,337 | 3,910 | 4,255 | 4,529 | 4,818 | 4,719 | 5,609 | 5,816 |
684 | 734 | 1,549 | 1,085 | 1,392 | 1,197 | 1,613 | 1,469 | 1,648 | 1,487 | 985 | 855 | 481 | |
509 | 621 | 1,515 | 2,052 | 2,177 | 2,587 | 2,582 | 2,460 | 2,808 | 3,137 | 3,837 | 2,909 | 3,006 | |
Total Liabilities | 1,947 | 2,011 | 4,951 | 5,143 | 6,835 | 7,499 | 8,484 | 8,563 | 9,364 | 9,821 | 9,920 | 9,753 | 9,683 |
1,159 | 1,211 | 3,124 | 3,293 | 4,517 | 4,750 | 4,905 | 6,044 | 6,741 | 6,587 | 5,547 | 5,810 | 5,709 | |
CWIP | 51 | 29 | 126 | 56 | 97 | 60 | 96 | 54 | 12 | 125 | 119 | 54 | 155 |
Investments | 41 | 58 | 57 | 67 | 39 | 55 | 681 | 96 | 234 | 438 | 576 | 821 | 533 |
695 | 713 | 1,643 | 1,727 | 2,182 | 2,634 | 2,802 | 2,370 | 2,376 | 2,671 | 3,678 | 3,068 | 3,286 | |
Total Assets | 1,947 | 2,011 | 4,951 | 5,143 | 6,835 | 7,499 | 8,484 | 8,563 | 9,364 | 9,821 | 9,920 | 9,753 | 9,683 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
102 | 211 | 322 | 680 | 304 | 512 | 708 | 1,027 | 539 | 1,051 | 1,118 | 1,383 | |
-102 | -88 | -184 | -225 | -831 | -303 | -1,017 | -589 | -422 | -762 | -637 | -905 | |
19 | -116 | -294 | -494 | 575 | -236 | 362 | -404 | -38 | -363 | -488 | -427 | |
Net Cash Flow | 19 | 7 | -155 | -39 | 48 | -26 | 53 | 34 | 80 | -74 | -6 | 51 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | |
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Debtor Days | 44 | 23 | 28 | 35 | 36 | 34 | 34 | 34 | 43 | 36 | 36 | 25 |
Inventory Days | 110 | 126 | 98 | 152 | 142 | 128 | 123 | 103 | 131 | 148 | 93 | 86 |
Days Payable | 87 | 93 | 149 | 296 | 260 | 204 | 169 | 144 | 190 | 212 | 163 | 144 |
Cash Conversion Cycle | 67 | 56 | -24 | -109 | -82 | -42 | -12 | -7 | -16 | -28 | -35 | -32 |
Working Capital Days | 34 | 16 | -3 | -45 | -18 | -10 | 2 | -1 | -1 | -9 | -0 | -10 |
ROCE % | -4% | 0% | 10% | 10% | 8% | 12% | 14% | 11% | 4% | 11% | 15% | 18% |
Documents
Announcements
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 30 Oct
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Announcement under Regulation 30 (LODR)-Acquisition
30 Oct - CIE Automotive acquires 31.20% stake in ReNew Green.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
28 Oct - Transcript of CIE Automotive Q3 & 9M CY24 conference call.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
26 Oct - Newspaper Publication under regulation 47 of SEBI LODR 2015.
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Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate
25 Oct - Notice of lost share certificates by shareholder.
Annual reports
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Financial Year 2023
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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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Financial Year 2011
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Concalls
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Oct 2024TranscriptNotesPPT
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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]