CIE Automotive India Q2 FY27 results: net profit up 13.9% to ₹243.69 crore, revenue up 11.0%

How did CIE Automotive India perform in Q2 FY27?

CIE Automotive India reported consolidated revenue of ₹2,633 crore in Q2 FY27, up ₹261.34 crore or 11.0% from Q2 FY26 and ₹12.63 crore or 0.5% from Q1 FY27. EBITDA was ₹373.93 crore, up 5.1% year on year but down 4.0% sequentially. The EBITDA margin fell to 14.2% from 15.0% a year ago and 14.9% in the previous quarter.

Profit before tax rose to ₹320.93 crore from ₹282.22 crore a year ago and ₹311.06 crore in Q1 FY27. After tax of ₹78.91 crore, profit after tax was ₹243.69 crore, compared with ₹213.94 crore and ₹235.62 crore. Basic EPS was ₹6.43, against ₹5.64 in Q2 FY26 and ₹6.21 in Q1 FY27.

On a standalone basis, revenue was ₹1,405.9 crore and profit after tax was ₹153.27 crore, with revenue up 12.1% and profit before tax of ₹138.03 crore. The consolidated results were reviewed by the statutory auditors, while the board approved the unaudited standalone and consolidated results on 22 October 2026.

What changed in CIE Automotive India's costs and profit?

Total expenses increased ₹247.36 crore, or 11.7%, to ₹2,356 crore from ₹2,109 crore in Q2 FY26. Cost of materials was ₹1,381 crore, up ₹208.51 crore or 17.8%, and other expenses were ₹635.78 crore, up ₹93.05 crore or 17.1%. Finance costs rose to ₹3.96 crore from ₹3.57 crore, while depreciation rose to ₹92.94 crore from ₹89.04 crore.

Employee cost declined ₹6.96 crore, or 2.6%, to ₹265.54 crore. Other income increased ₹24.73 crore, or 129.0%, to ₹43.90 crore. There was no exceptional item in either quarter, while tax expense rose ₹9.66 crore, or 13.9%, to ₹78.91 crore. The filing did not state a specific reason for the higher material and other expense lines.

The company’s investor presentation attributed India’s lower margin to price increases generated by the conflict in West Asia, mainly in raw materials, energy and consumables. It said Europe’s margin improvement reflected restructuring activities undertaken in the previous year.

How did the first half of FY27 go?

In H1 FY27, consolidated revenue rose ₹852.2 crore, or 12.2%, to ₹7,865.68 crore from ₹7,013.48 crore in H1 FY26. Total income increased 12.3% to ₹7,966.55 crore, while profit before tax rose 16.2% to ₹958.72 crore.

Profit after tax for the first half increased ₹104.8 crore, or 16.8%, to ₹728.67 crore from ₹623.87 crore. Basic EPS rose from ₹16.44 to ₹19.21. These are the first-half financial-year figures and differ from the nine-month calendar-year figures presented in the same-day investor presentation.

How has CIE Automotive India done over the last 8 quarters?

Revenue rose year on year in each of the last six quarters. It reached ₹2,633.18 crore in Q2 FY27 after ₹2,611.95 crore in Q4 FY26 and ₹2,620.55 crore in Q1 FY27, so the latest reading was the highest in the series. Profit after tax also rose year on year in each of the last five quarters and reached ₹243.69 crore in Q2 FY27.

The EBITDA margin peaked at 15.4% in Q4 FY26 and was 14.9% in Q1 FY27 before falling to 14.2% in Q2 FY27. Revenue and profit both moved higher in the latest quarter, but the margin direction turned lower from the preceding quarter.

Which businesses drove the quarter?

India generated revenue of ₹1,852.14 crore in Q2 FY27, up 18.1% from ₹1,567.72 crore in the year-ago quarter. Segment EBIT rose to ₹234.47 crore from ₹209.83 crore, and the reported EBIT margin was 12.7%. The investor presentation attributed India’s margin pressure to higher raw-material, energy and consumable prices linked to the conflict in West Asia.

Europe reported revenue of ₹781.28 crore, down 2.9% from ₹804.24 crore in the year-ago quarter. EBIT nevertheless rose to ₹92.08 crore from ₹77.27 crore, with a reported EBIT margin of 11.8%. Management said European margin recovery reflected restructuring actions taken in the previous year.

What else did the company announce?

On 22 October 2026, the board approved the unaudited standalone and consolidated financial results for the quarter and nine months ended 30 September 2026, along with the statutory auditors’ limited review reports. The results were reviewed by the audit committee and released through a BSE filing.

The same-day investor presentation was titled “Q3 & 9M CY2026 Results Presentation” and contained India, Europe and consolidated results for the July–September 2026 quarter and January–September 2026 period. The same-day filings did not announce a dividend, fund raise or appointment.

What did CIE Automotive India's management say?

Management said India booked INR9.7 billion of new orders in 9M CY26, while Europe added about INR3 billion. It expected CY26 India growth capex to be almost double CY25, with CY27 spending at a similar level, and indicated an ambition of about 8% of sales compared with the usual approximately 5%. The CEO said, “Usually, we are around 5% of capex, that is the standard we have. In this case, in previous years, we have been a little bit below that. Now we can think about 8% of sales, something like that.”

Management expected all customer cost pass-through agreements to be completed by end-2026, although competitive negotiations continued. It said the delayed foundry customer project began supply in October 2026 and, after the ramp-up by mid-2027, the Urse plant was expected to be fully booked for the following year. The CEO said, “With this new project, we will have our foundry fully booked for next year.”

Management expected India market growth to slow over the next few quarters as the effects of GST cuts diminished, with tractors weakening and non-tractor segments remaining reasonably resilient. It said Europe’s reduced sales run-rate was expected to remain broadly stable while margins were protected. The company also expected aluminium portfolio optimisation to continue until at least mid-2027.

Management identified energy, raw-material and consumable inflation linked to the West Asia conflict as a risk, along with stagnant European demand, rising Chinese imports, EV penetration and delayed Bill Forge orders. It said the strategic focus was organic growth, and the CEO stated, “So the strategic decision for us now is we will go for organic growth.”

How did CIE Automotive India shares react?

By the next day’s close, the stock was down 1.3% from its pre-results close, while the industry median was down 1.2%. By the fifth session, it was down 2.8% from the same close, compared with a 1.2% fall for the industry median. Its relative performance was 0.6 percentage points below the industry on the reaction day and 1.5 percentage points below it by the fifth session.

Earlier results-day moves were mixed: the stock fell 11.8% on 22 July 2026, fell 2.8% on 23 April 2026, rose 0.7% on 19 February 2026 and rose 1.6% on 16 October 2025. Earlier reaction-day moves in the series were also mixed, with both gains and declines recorded.

How did other Auto Components & Equipments companies do?

Among 46 Auto Components & Equipments companies compared, the median revenue growth was 33.9%. Eight peers grew more slowly than CIE Automotive India, while 38 grew faster. The comparison was as of 4 November 2026.

Of 47 peers for which profit was compared, 37 reported higher profit. The peer figures therefore show that CIE Automotive India’s revenue growth was below the industry median for the quarter, although a majority of the companies with comparable profit data reported growth.