CIE Automotive India Ltd share Price Today

Mahindra CIE (MCI), part of the Spain-based CIE Automotive Group, is a multi-technology, multi-product automotive component supplier.

• CY22 consolidated revenue mix – Europe 36%, India 64%.
• Forging is ~59% of consolidated sales (78% in Europe).
• In India it derives 49%, 23%, 20%, 8% of sales from PV, 2-W, tractors, M&HCV, respectively. In Europe it now derives 75% of sales from PV space.

Company posted healthy Q4CY22 results

• Consolidated revenue from continuing operations came in at ₹2,246 crores, nearly flat QoQ (Sequential growth in Europe, OEM led decline in India)
• EBITDA came in at ₹292.4 crores with margins at 13%.
• Company reported Loss at the PAT level amounting to ₹658 crores vs. profit reading on QoQ and YoY basis, largely attributable to impairment charge for placing Germany forging business up for sale. Profit from continuing operation stood at ₹195 crore for Q3FY22 and ₹711 crore for CY22

Auto Parts & Equipments company CIE Automotive India announced Q3CY23 results:

1: Company Performance
- CIE India reported a revenue of Rs 14,393 million in Q3CY23, showing a 1% increase compared to the same period last year.
- The EBITDA for Q3CY23 was Rs 2,405 million, representing a 12% growth from the previous year.
- The company achieved a steady EBITDA margin of 16.7% during Q3CY23.
- CIE India recorded a net profit of Rs 1,746 million in Q3CY23, a growth of 13% compared to the previous year.

2: Market Update
- The Indian market witnessed a mixed performance in Q3CY23. While the <6T and MHCV segments showed growth, the tractor and two-wheeler segments faced challenges.
- The European market saw positive revenue growth, with a 7% increase in sales during Q3CY23 compared to the previous year.
- Both the Indian and European markets are expected to grow in the coming years, with positive projections for various industry segments.

3: Financial Outlook
- CIE India's financial performance remained strong in Q3CY23, with a recurrent EBITDA margin of around 17%.
- The company expects its Indian and European businesses to continue performing well, with stable growth and positive market expectations.
- The overall market outlook shows a growth potential for all business verticals, including the Indian automotive industry.
 

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