CIE Automotive India Ltd

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

CIE Automotive India Ltd

₹ 460 -1.61%
21 Nov - 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 ₹ 17,432 Cr.
  • Current Price ₹ 460
  • High / Low ₹ 628 / 401
  • Stock P/E 21.3
  • Book Value ₹ 163
  • Dividend Yield 1.09 %
  • ROCE 18.3 %
  • ROE 20.3 %
  • Face Value ₹ 10.0
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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 2.80 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

Part of BSE 250 SmallCap Index Nifty Smallcap 250 BSE Allcap BSE Consumer Discretionary BSE SmallCap

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
2,091 1,669 2,061 2,216 2,229 2,247 2,440 2,320 2,279 2,240 2,427 2,293 2,135
1,822 1,489 1,780 1,910 1,936 1,954 2,060 1,950 1,934 1,913 2,066 1,933 1,804
Operating Profit 268 180 280 306 293 292 381 370 345 327 361 360 331
OPM % 13% 11% 14% 14% 13% 13% 16% 16% 15% 15% 15% 16% 15%
7 8 8 15 17 -790 75 108 209 18 52 32 27
Interest 13 9 4 0 11 8 24 22 31 30 22 21 17
Depreciation 83 66 72 75 73 77 83 83 78 78 86 84 80
Profit before tax 179 113 213 246 227 -582 349 372 445 237 304 287 260
Tax % 7% 29% 24% 23% 24% 13% 20% 19% 16% 29% 24% 24% 25%
166 80 161 189 171 -658 279 302 375 169 230 217 195
EPS in Rs 4.39 2.12 4.26 4.98 4.52 -17.34 7.36 7.95 9.90 4.45 6.08 5.72 5.15
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Dec 2015 9m 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
10 Years: 28%
5 Years: 18%
3 Years: 127%
TTM: 7%
Stock Price CAGR
10 Years: 7%
5 Years: 25%
3 Years: 21%
1 Year: -6%
Return on Equity
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
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%

Shareholding Pattern

Numbers in percentages

9 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
72.19% 72.17% 74.87% 74.96% 74.96% 68.90% 65.70% 65.70% 65.70% 65.70% 65.70% 65.70%
10.36% 10.66% 6.85% 7.26% 7.29% 8.62% 7.54% 6.61% 5.63% 5.11% 5.03% 4.32%
7.78% 7.39% 8.10% 7.66% 7.47% 11.19% 14.75% 15.40% 15.98% 18.12% 19.45% 20.33%
0.00% 0.00% 0.00% 0.00% 0.00% 0.01% 0.02% 0.03% 0.03% 0.04% 0.04% 0.04%
9.68% 9.78% 10.17% 10.09% 10.29% 11.26% 11.96% 12.26% 12.66% 11.03% 9.78% 9.60%
No. of Shareholders 74,87780,01684,47989,95596,5701,09,3321,13,7251,18,9201,36,3851,34,1851,24,0461,25,648

* 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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