CIE Automotive India Q3 FY26 results: net profit up 10.4% to ₹204.31 crore, revenue up 13.4%

How did CIE Automotive India perform in Q3 FY26?

CIE Automotive India reported consolidated revenue of ₹2,393 crore for Q3 FY26, up 13.4% from ₹2,110 crore in Q3 FY25 and 0.9% from ₹2,372 crore in Q2 FY26. Total income was ₹2,416.86 crore, up 12.8% year on year and 1.1% sequentially. On the standalone basis, revenue was ₹1,274.33 crore and profit after tax was ₹133.57 crore.

Consolidated EBITDA rose 11.8% year on year to ₹334.57 crore, while the margin declined by 0.2 percentage points to 14.0%. Against Q2 FY26, EBITDA fell 5.9% and the margin declined by 1.0 percentage point from 15.0%.

Profit before tax increased 8.5% year on year to ₹254.26 crore, while net profit rose 10.4% to ₹204.31 crore and basic EPS increased to ₹5.38 from ₹4.88. Sequentially, PBT fell 9.9%, net profit declined 4.5% to ₹213.94 crore in Q2 FY26, and EPS fell to ₹5.38 from ₹5.64.

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

Total expenses increased 13.3% year on year to ₹2,163 crore in Q3 FY26. Cost of materials rose 8.9% by ₹97.48 crore, employee cost increased 23.6% by ₹56.93 crore, depreciation rose 18.1% by ₹14.64 crore, and other expenses increased 23.9% by ₹111.66 crore. Finance costs were lower by 50.6%, or ₹8.87 crore, at ₹8.67 crore.

Other income fell 28.9% year on year by ₹9.72 crore to ₹23.86 crore. There was no exceptional item in either Q3 FY26 or Q3 FY25. Tax expense decreased 1.5% by ₹0.83 crore to ₹54.39 crore, while the net profit margin declined by 0.3 percentage points to 8.5% from 8.8%.

How did the first nine months of FY26 go?

For the first nine months of FY26, consolidated revenue was ₹9,406.47 crore, up 4.9% from ₹8,964.07 crore in 9M FY25. Total income increased 4.4% to ₹9,507.73 crore from ₹9,103.71 crore, while PBT was ₹1,079.13 crore, down 0.3% from ₹1,081.98 crore.

Net profit for 9M FY26 was ₹828.17 crore, up 0.1% from ₹827.51 crore in 9M FY25. Basic EPS increased to ₹21.83 from ₹21.81. The near-flat profit was accompanied by a fall in PBT, and the available figures do not state a reason for the divergence.

What do the balance sheet and cash flow show?

At 31 December 2025, total assets were ₹10,756.79 crore, compared with ₹10,112.16 crore at 30 June 2025. Total equity increased to ₹7,459.14 crore from ₹6,926.29 crore, while borrowings fell to ₹386.02 crore from ₹440.45 crore and cash rose to ₹230.49 crore from ₹228.21 crore. Inventories were ₹1,129.57 crore, trade receivables ₹609.04 crore and trade payables ₹1,863.24 crore.

For 9M FY26, operating cash flow was ₹1,257.98 crore, compared with ₹880.84 crore in 9M FY25. Investing cash flow was negative ₹784.74 crore against negative ₹238.38 crore, and financing cash flow was negative ₹526.03 crore against negative ₹552.72 crore. Capital expenditure was ₹377.41 crore, compared with ₹386.66 crore a year earlier; the prior-year closing cash balance was ₹300.9 crore.

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

Revenue peaked at ₹2,426.8 crore in Q4 FY24 and bottomed at ₹2,109.95 crore in Q3 FY25. It then rose in each of the last three quarters, reaching ₹2,393 crore in Q3 FY26 after ₹2,369 crore in Q1 FY26 and ₹2,371.84 crore in Q2 FY26.

Net profit peaked at ₹230.48 crore in Q4 FY24 and bottomed at ₹184.98 crore in Q3 FY25. It rose to ₹213.94 crore in Q2 FY26 before falling to ₹204.31 crore in Q3 FY26. The EBITDA margin reached 15.7% in Q1 FY25 and declined to 14.0% in Q3 FY26 from 15.0% in the previous quarter.

Which businesses drove the quarter?

India reported revenue of ₹1,593.57 crore in Q3 FY26, up 5.1% from ₹1,516.01 crore in the year-ago quarter. Segment EBIT rose to ₹201.54 crore from ₹188.4 crore, with an EBIT margin of 12.6%.

Europe reported revenue of ₹799.53 crore, up 34.6% from ₹593.94 crore in Q3 FY25. Segment EBIT was ₹65.1 crore, compared with ₹68.81 crore a year earlier, and the EBIT margin was 8.1%.

What else did the company announce?

The board approved the audited standalone and consolidated results for the quarter and financial year ended 31 December 2025, together with the statutory auditors’ unmodified reports. It recommended a final dividend of ₹7 per equity share of face value ₹10 each for shareholder approval at the 27th Annual General Meeting. The record date is 22 April 2026, and the AGM is scheduled for 29 April 2026.

The board also appointed Protiviti India Member Private Limited as internal auditor on 19 February 2026. The appointment covers the financial year ending 31 December 2026 and will follow the internal audit plan approved by the Audit Committee for CY2026. The company also filed its Q4 and full-year CY2025 investor presentation.

What did CIE Automotive India's management say?

Management said CY26 capital expenditure would be higher than CY25, when total capex was INR3.8 bn, with growth capex of INR2.3 bn concentrated in India. It expects India EBITDA margins to improve in CY26 after a CY25 drag of about 1.1% from a gratuity one-off and the Maharashtra power tariff. No formal revenue or EBITDA growth guidance was issued.

Management expects the new aluminium factory for higher-tonnage components to begin production in Q3-Q4 CY26, while the iron castings US export project is targeted for June CY26. Management said it was moving selected European presses and gear cells to India from April. New orders secured in CY25 were INR8.7 bn a year in India and INR2.1 bn a year in Europe.

CEO Ander Arenaza Alvarez said India was following a good path and that the automotive sector in India would be a winner in 2026. He also said the Europe-India free-trade agreement could increase demand for Indian components, particularly forging and iron-casting technologies. The company identified European light-vehicle production of 15-17 mn units through CY30 as a risk, along with Chinese competition and a slower-than-expected EV transition.

SVP Strategy Vikas Sinha said Legazpi had made a large bet on electric-vehicle components, but EV growth in Europe was slower than expected. He said further activity could be needed if EV delays continued, while management also identified the Maharashtra tariff increase and new labour-code gratuity impact as risks to India margins.

How did CIE Automotive India shares react?

The results were released after market hours. From the price when the filing appeared, the stock rose 1.2% after five minutes, then fell 0.9% after 15 minutes and 2.2% after 30 minutes. It closed the first trading session 0.7% above the previous close, and by the next day’s close it was up 6.9% from the pre-results close.

By the fifth session’s close, the stock was up 2.6% from the pre-results close. The Auto Components & Equipments industry median moved 0.1% on the first day, 0.1% by the next day and negative 1.4% by five days. CIE Automotive India therefore exceeded the industry median by 0.8 percentage points on the first day, 6.8 percentage points by the next day and 4.0 percentage points over five days.

Earlier results-day moves were mixed: the stock rose 1.6% on 16 October 2025 and 0.4% on 2 May 2024, but fell 1.4% on 21 July 2025, 2.3% on 20 February 2025, 1.3% on 24 October 2024 and 2.9% on 18 July 2024.

How did other Auto Components & Equipments companies do?

Among 114 Auto Components & Equipments companies compared, the median revenue growth was 18.0%, above CIE Automotive India’s revenue growth of 13.4%. Forty-one peers grew more slowly than CIE Automotive India, while 72 grew faster. Of 116 peers for which profit was compared, 82 reported higher profit.