CIE Automotive India Ltd

CIE Automotive Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

CIE Automotive India Ltd

₹ 421 -2.37%
21 Feb - close price
mahindracie.com BSE: 532756 NSE: CIEINDIA
About

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]

Key Points

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]

Website BSE NSE
  • Market Cap ₹ 15,965 Cr.
  • Current Price ₹ 421
  • High / Low ₹ 628 / 401
  • Stock P/E 27.4
  • Book Value ₹ 141
  • Dividend Yield 1.19 %
  • ROCE 14.6 %
  • ROE 11.4 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 28.8% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 32.6%
  • Company's median sales growth is 21.1% of last 10 years

Cons

  • Stock is trading at 2.99 times its book value
  • The company has delivered a poor sales growth of 9.53% over past five years.
  • Company has a low return on equity of 11.5% over last 3 years.
  • Promoter holding has decreased over last 3 years: -6.49%
  • Working capital days have increased from 46.6 days to 99.2 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.

Peer comparison

Sector: Castings, Forgings & Fastners Industry: Castings & Forgings

Part of Nifty 500 Nifty Smallcap 250 BSE 250 SmallCap Index Nifty500 Multicap India Manufacturing 50:30:20 Nifty500 Multicap Infrastructure 50:30:20

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024
841 992 1,086 1,208 1,111 1,142 1,102 1,188 1,137 1,164 1,144 1,136 1,119
742 854 932 1,040 950 967 924 1,002 963 973 959 951 948
Operating Profit 99 138 154 168 161 175 178 186 174 192 185 185 170
OPM % 12% 14% 14% 14% 14% 15% 16% 16% 15% 16% 16% 16% 15%
-7 94 9 5 51 107 13 16 15 109 23 20 21
Interest 4 4 2 3 5 2 3 4 3 5 3 2 2
Depreciation 30 31 32 34 36 34 33 34 35 36 35 37 36
Profit before tax 58 198 129 135 172 247 156 164 150 260 170 166 153
Tax % 26% 15% 25% 26% 15% 16% 25% 25% 24% 17% 25% 25% 24%
43 169 97 100 146 208 117 123 115 217 127 124 116
EPS in Rs 1.14 4.45 2.56 2.65 3.85 5.47 3.09 3.24 3.02 5.72 3.34 3.26 3.06
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Dec 2015 9m Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020 Dec 2021 Dec 2022 Dec 2023 Dec 2024
386 1,642 1,331 1,611 1,961 3,146 2,894 2,145 3,291 4,398 4,570 4,563
334 1,507 1,230 1,464 1,764 2,724 2,549 1,943 2,862 3,776 3,857 3,832
Operating Profit 52 135 101 147 196 423 345 202 429 622 713 732
OPM % 14% 8% 8% 9% 10% 13% 12% 9% 13% 14% 16% 16%
6 20 6 12 5 -102 44 20 5 159 150 173
Interest 4 16 3 9 11 7 14 12 12 13 11 12
Depreciation 28 69 54 71 76 102 113 108 119 133 136 144
Profit before tax 27 70 50 79 115 212 264 102 302 633 717 749
Tax % 33% -11% 37% 35% 40% 56% 35% 27% 63% 19% 22% 22%
18 78 31 52 69 94 172 74 110 512 562 583
EPS in Rs 1.95 2.40 0.97 1.36 1.83 2.48 4.55 1.95 2.91 13.50 14.82 15.38
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 86% 19% 34% 46%
Compounded Sales Growth
10 Years: 28%
5 Years: 10%
3 Years: 12%
TTM: 0%
Compounded Profit Growth
10 Years: 42%
5 Years: 29%
3 Years: 72%
TTM: 4%
Stock Price CAGR
10 Years: 7%
5 Years: 24%
3 Years: 31%
1 Year: -10%
Return on Equity
10 Years: 6%
5 Years: 8%
3 Years: 12%
Last Year: 11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020 Dec 2021 Dec 2022 Dec 2023 Dec 2024
Equity Capital 92 323 323 378 378 379 379 379 379 379 379 379
Reserves 839 1,986 2,021 3,086 3,121 3,318 3,492 3,566 3,671 4,092 4,561 4,953
76 58 18 138 101 86 97 93 238 171 112 33
102 369 410 414 492 756 779 974 1,140 1,201 1,187 1,201
Total Liabilities 1,110 2,735 2,772 4,017 4,092 4,539 4,748 5,012 5,429 5,842 6,239 6,566
174 521 529 511 611 1,906 2,018 2,122 2,208 2,257 2,317 2,391
CWIP 12 90 22 6 25 72 38 69 59 42 37 57
Investments 811 1,577 1,621 2,906 2,755 1,383 1,672 1,813 2,004 2,268 2,526 2,758
113 547 600 593 701 1,178 1,019 1,008 1,158 1,276 1,359 1,361
Total Assets 1,110 2,735 2,772 4,017 4,092 4,539 4,748 5,012 5,429 5,842 6,239 6,566

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020 Dec 2021 Dec 2022 Dec 2023 Dec 2024
44 116 97 136 152 215 397 308 275 478 695 664
-80 -52 -66 -708 -78 -206 -398 -252 -375 -304 -427 -364
41 -89 -11 560 -63 5 0 -26 68 -172 -164 -284
Net Cash Flow 4 -25 20 -13 11 14 -1 30 -32 2 104 16

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020 Dec 2021 Dec 2022 Dec 2023 Dec 2024
Debtor Days 47 51 63 55 61 63 66 70 50 48 37 33
Inventory Days 80 62 88 62 61 87 70 120 101 75 70 71
Days Payable 147 87 115 110 111 94 97 176 127 96 93 96
Cash Conversion Cycle -20 26 35 7 11 56 39 14 24 26 14 8
Working Capital Days 0 18 44 25 24 47 37 23 25 23 18 99
ROCE % 3% 5% 3% 3% 4% 9% 7% 3% 8% 14% 15% 15%

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024
72.17% 74.87% 74.96% 74.96% 68.90% 65.70% 65.70% 65.70% 65.70% 65.70% 65.70% 65.70%
10.66% 6.85% 7.26% 7.29% 8.62% 7.54% 6.61% 5.63% 5.11% 5.03% 4.32% 4.47%
7.39% 8.10% 7.66% 7.47% 11.19% 14.75% 15.40% 15.98% 18.12% 19.45% 20.33% 20.72%
0.00% 0.00% 0.00% 0.00% 0.01% 0.02% 0.03% 0.03% 0.04% 0.04% 0.04% 0.04%
9.78% 10.17% 10.09% 10.29% 11.26% 11.96% 12.26% 12.66% 11.03% 9.78% 9.60% 9.07%
No. of Shareholders 80,01684,47989,95596,5701,09,3321,13,7251,18,9201,36,3851,34,1851,24,0461,25,6481,26,309

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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