CIE Automotive India Limited has informed the Exchange about Transcript
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CIE Automotive India reported Q1 CY2025 consolidated sales of Rs. 21,961 million, down 6% year-on-year, with EBITDA of Rs. 3,716 million and consolidated EBITDA margin of 16.7% (excluding one-offs). India operations grew 3% to Rs. 14,113 million with EBITDA margin of 18% (18.6% reported including a one-off subsidy at the Zaheerabad plant), while European operations declined 19% to Rs. 7,849 million with EBITDA margin of 14%. Management acknowledged India business underperformance versus peers over six quarters but highlighted new orders of Rs. 3.5 billion allocated in Q1 CY25, against an annual order book of Rs. 800-1,000 crores. The company holds Rs. 1,300-1,400 crores cash for M&A, targeting plastics (a missing technology) and existing verticals. European restructuring is underway with early retirement and voluntary schemes, with pain expected for at least two more quarters.
Near-term outlook is mixed: India margins are improving steadily (~18%) but revenue growth is lagging market, while European operations face continued volume pressure through 2-3 quarters. The strong order pipeline, M&A optionality, and negligible tariff exposure provide medium-term growth visibility, though management declined to give forward revenue guidance. Shareholders should expect stable India margins, gradual Europe recovery, and potential inorganic growth announcements.