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Consolidated Standalone

CIE Automotive India

₹472.7 -7.9 | 1.6%

Market Cap ₹17932 Cr.

Stock P/E 22.5

P/B 2.8

Current Price ₹472.7

Book Value ₹ 168.4

Face Value 10

52W High ₹628.5

Dividend Yield 1.06%

52W Low ₹ 401

Edit Ratio

CIE Automotive India Research see more...

Overview Inc. Year: 1999Industry: Forgings

Mahindra CIE Automotive Ltd manufactures and sells automobile additives to authentic equipment manufacturers and different customers in India and Europe. It offers forging products, which includes crankshafts, steerage additives, and different solid merchandise; stampings, along with frame systems, chassis systems, and assembly; gears, shafts, and transmission gears; axle and transmission elements, engine elements, and different products; magnetic merchandise, together with permanent magnet, soft ferrite cores, impeder cores, and magnetic induction lightings; sheet and dough molding compounds; and car parts, scientific equipment covers, and windmill components. The organization also provides oil sumps, turbo housings, exhaust manifolds, passive entry antenna additives, synchro hubs, and planetary providers; differential and service housing products; knuckles/stub axles, brake calipers, spring saddles, hoods, fenders, bonnets, foot plates, front grills, and stamped cabin additives; and lift arms, rocker arms, trunion brackets, and toppling cranks. It offers its merchandise for use in motors, utility cars, business cars, tractors, off road vehicles, and two-wheelers. The organization previously called Mahindra Forgings Ltd and changed its name to Mahindra CIE Automotive Ltd in November 2013. The organization become incorporated in 1999 and is based in Mumbai, India. Mahindra CIE Automotive Ltd is a subsidiary of Participaciones Internacionales Autometal Dos S.L.

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CIE Automotive India Share Price

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Peer Comparison

CIE Automotive India Quarterly Results

#(Fig in Cr.) Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
Net Sales 2216 2229 2247 2440 2320 2279 2240 2427 2293 2135
Other Income 10 13 24 16 20 20 27 51 31 24
Total Income 2226 2243 2271 2456 2340 2299 2267 2478 2323 2159
Total Expenditure 1910 1936 1954 2060 1950 1934 1913 2066 1933 1804
Operating Profit 316 307 317 397 390 365 354 412 391 355
Interest 0 11 8 24 22 31 30 22 21 17
Depreciation 75 73 77 83 83 78 78 86 84 80
Exceptional Income / Expenses 0 0 38 0 0 0 0 0 0 0
Profit Before Tax 241 223 270 290 285 256 245 304 286 258
Provision for Tax 57 56 76 70 71 69 68 74 70 65
Profit After Tax 183 167 194 220 214 187 177 230 216 193
Adjustments 5 4 -852 59 88 188 -8 1 1 2
Profit After Adjustments 189 171 -658 279 302 375 169 230 217 195
Adjusted Earnings Per Share 5 4.5 -17.3 7.4 8 9.9 4.5 6.1 5.7 5.1

CIE Automotive India Profit & Loss

#(Fig in Cr.) Mar 2014 Mar 2015 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020 Dec 2021 Dec 2022 Dec 2023 TTM
Net Sales 2591 5570 3865 5320 6428 8032 7908 6050 6765 8753 9280 9095
Other Income 13 43 29 31 27 39 33 55 47 58 82 133
Total Income 2604 5613 3894 5351 6455 8070 7941 6105 6812 8811 9362 9227
Total Expenditure 2482 5128 3502 4789 5614 6981 6940 5549 5823 7581 7856 7716
Operating Profit 122 485 392 563 841 1090 1001 557 989 1230 1506 1512
Interest 63 121 50 59 51 50 52 55 35 23 107 90
Depreciation 120 238 163 233 268 287 316 306 273 296 322 328
Exceptional Income / Expenses -8 -226 -78 -9 -7 0 -5 0 -13 38 0 0
Profit Before Tax -70 -100 101 262 515 753 628 195 669 951 1076 1093
Provision for Tax 12 -22 24 93 148 204 274 89 273 240 278 277
Profit After Tax -81 -78 77 169 367 549 354 107 396 711 798 816
Adjustments 0 0 0 0 -8 -50 0 -0 -3 -848 328 -4
Profit After Adjustments -81 -78 77 169 358 498 354 106 393 -136 1125 811
Adjusted Earnings Per Share -8.8 -2.4 2.4 4.5 9.5 13.1 9.3 2.8 10.4 -3.6 29.7 21.4

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 6% 15% 3% 14%
Operating Profit CAGR 22% 39% 7% 29%
PAT CAGR 12% 95% 8% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -0% 28% 23% 9%
ROE Average 14% 12% 9% 6%
ROCE Average 18% 15% 12% 9%

CIE Automotive India Balance Sheet

#(Fig in Cr.) Mar 2014 Mar 2015 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020 Dec 2021 Dec 2022 Dec 2023
Shareholder's Funds 656 1887 2007 3266 3716 4289 4634 4908 5197 5098 5988
Minority's Interest 0 16 0 0 0 0 0 0 0 0 0
Borrowings 316 1423 752 933 1017 1173 826 937 652 119 101
Other Non-Current Liabilities 129 144 194 232 255 258 505 775 837 585 561
Total Current Liabilities 850 1384 2048 2238 2348 2555 2584 2736 3130 3400 3103
Total Liabilities 1951 4853 5000 6668 7336 8328 8563 9364 9821 9920 9753
Fixed Assets 1211 3124 3293 4517 4750 4905 6044 6741 6587 5547 5810
Other Non-Current Assets 41 349 346 475 466 411 346 145 354 451 795
Total Current Assets 699 1381 1362 1676 2120 2959 2159 2470 2875 2943 3147
Total Assets 1951 4853 5000 6668 7336 8328 8563 9364 9821 9920 9753

CIE Automotive India Cash Flow

#(Fig in Cr.) Mar 2014 Mar 2015 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020 Dec 2021 Dec 2022 Dec 2023
Opening Cash & Cash Equivalents 37 44 89 50 98 72 125 159 239 165 158
Cash Flow from Operating Activities 211 322 680 304 512 708 1027 539 1051 1118 1383
Cash Flow from Investing Activities -88 -184 -225 -831 -308 -1019 -590 -429 -755 -640 -910
Cash Flow from Financing Activities -116 -294 -494 575 -236 362 -404 -38 -363 -488 -427
Net Cash Inflow / Outflow 7 -155 -39 48 -32 51 33 72 -67 -9 46
Closing Cash & Cash Equivalent 44 89 50 98 72 125 159 239 165 158 210

CIE Automotive India Ratios

# Mar 2014 Mar 2015 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020 Dec 2021 Dec 2022 Dec 2023
Earnings Per Share (Rs) -8.83 -2.42 2.37 4.47 9.47 13.15 9.34 2.81 10.36 -3.59 29.66
CEPS(Rs) 4.17 4.93 7.41 10.62 16.78 22.05 17.68 10.9 17.65 26.56 29.52
DPS(Rs) 0 0 0 0 0 0 0 0 2.5 2.5 5
Book NAV/Share(Rs) 70.46 58.32 62.02 86.19 97.91 113.06 122.16 129.4 137 134.4 157.84
Core EBITDA Margin(%) 4.13 7.69 9.08 9.61 12.39 13.09 12.24 8.29 13.92 13.39 15.34
EBIT Margin(%) -0.26 0.37 3.77 5.81 8.61 10 8.6 4.13 10.4 11.13 12.75
Pre Tax Margin(%) -2.64 -1.74 2.51 4.74 7.84 9.37 7.94 3.23 9.89 10.87 11.59
PAT Margin (%) -3.09 -1.36 1.92 3.06 5.58 6.83 4.47 1.76 5.85 8.13 8.59
Cash Profit Margin (%) 1.46 2.77 5.99 7.27 9.66 10.4 8.47 6.83 9.89 11.51 12.07
ROA(%) -4.25 -2.3 1.56 2.9 5.24 7 4.19 1.19 4.13 7.21 8.11
ROE(%) -11.65 -6.17 3.95 6.42 10.53 13.73 7.94 2.24 7.84 13.82 14.39
ROCE(%) -0.48 0.87 4.63 8.28 11.83 14.85 11.33 3.95 10.8 15.59 18.47
Receivable days 29.61 18.53 36.75 29.9 31.12 30.44 34.11 43.5 37.07 31.89 29.38
Inventory Days 46.42 33.45 64.04 51.34 50.69 50.41 52.74 62.22 63.52 53.36 46.67
Payable days 83.59 91.8 253.8 246.51 199.65 162.82 152.17 184.69 177.91 149.21 143.87
PER(x) 0 0 105.62 41.05 27.21 19.45 17.65 61.2 22.67 0 15.87
Price/Book(x) 1.06 3.71 4.04 2.13 2.63 2.26 1.35 1.33 1.72 2.56 2.98
Dividend Yield(%) 0 0 0 0 0 0 0 0 1.06 0.73 1.06
EV/Net Sales(x) 0.53 1.52 2.36 1.55 1.69 1.39 0.96 1.31 1.48 1.59 1.98
EV/Core EBITDA(x) 11.36 17.43 23.32 14.63 12.93 10.27 7.56 14.23 10.15 11.28 12.23
Net Sales Growth(%) 16.89 114.99 -30.6 37.63 20.83 24.95 -1.54 -23.49 11.82 29.39 6.02
EBIT Growth(%) 89.51 409.72 618.12 112.55 76.32 41.87 -15.29 -63.23 181.33 38.45 21.46
PAT Growth(%) 28.48 4.09 198.16 120.28 116.98 49.58 -35.5 -69.87 271.29 79.72 12.13
EPS Growth(%) 28.61 72.61 198.16 88.38 111.9 38.83 -29.01 -69.93 269.17 -134.64 926.2
Debt/Equity(x) 1.13 0.82 0.54 0.43 0.32 0.38 0.32 0.34 0.25 0.18 0.13
Current Ratio(x) 0.82 1 0.67 0.75 0.9 1.16 0.84 0.9 0.92 0.87 1.01
Quick Ratio(x) 0.39 0.5 0.31 0.38 0.48 0.68 0.43 0.54 0.49 0.51 0.64
Interest Cover(x) -0.11 0.17 3 5.4 11.1 16 13.01 4.56 20.22 42.89 11.02
Total Debt/Mcap(x) 1.06 0.22 0.13 0.2 0.12 0.17 0.24 0.25 0.14 0.07 0.04

CIE Automotive India Shareholding Pattern

# Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
Promoter 74.87 74.96 74.96 68.89 65.7 65.7 65.7 65.7 65.7 65.7
FII 6.85 7.26 7.29 8.61 7.54 6.61 5.63 5.11 5.03 4.32
DII 8.1 7.67 7.47 11.22 14.78 15.43 16.01 18.16 19.49 20.38
Public 10.17 10.1 10.28 11.27 11.98 12.26 12.66 11.03 9.78 9.6
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Debtor days have improved from 149.21 to 143.87days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 12% over the last 3 years.
  • The company has delivered a poor profit growth of 7% over past five years.

* 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.

CIE Automotive India News

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