CIE Automotive India Ltd (CIEINDIA)

Capital Goods · Castings, Forgings & Fastners · NSE · Updated 1 September 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹389.95 ↑ 1.42% (1Y)

🎯 Key Takeaways

CIE Automotive India Ltd is in a phase of steady growth with improving operational scale, supported by consistent revenue expansion and stable profitability metrics. The company maintains strong returns on equity and capital, though recent margin pressure from inflation and currency volatility has tempered net profit growth despite top-line gains.
Revenue grew 0.3% QoQ to ₹2,621 in Q1FY27.
⚠️ Margin pressure from sustained inflation and currency volatility continues to impact profitability despite revenue growth.

Market Cap

₹14,793

P/E Ratio

16.4

P/B Ratio

1.98

ROE

12.1%

ROCE

15.4%

Debt/Equity

0.05

Div Yield

1.80%

Promoter

65.7%

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📖 The Story

CIE Automotive India Ltd is in a phase of steady growth with improving operational scale, supported by consistent revenue expansion and stable profitability metrics. The company maintains strong returns on equity and capital, though recent margin pressure from inflation and currency volatility has tempered net profit growth despite top-line gains. Its financial profile reflects a conservative capital structure and robust liquidity, underpinned by low leverage and reaffirmed credit ratings.

📰 What's Happening

In H1 CY2026, CIE Automotive reported consolidated revenue of ₹50,843 crores and net profit of ₹4,850 crores, with EBITDA margins holding firm at 16.7%. However, PAT margins declined to 9.5% from 10.2% in Q2 due to inflation and currency headwinds. The board approved unaudited results on 22 July 2026, which included a ₹103.57 million impact on gratuity and long-term compensated absences, and filed a scheme to amalgamate its subsidiary CIE Aluminium Casting India Limited, pending NCLT and regulatory approvals. ICRA reaffirmed CIE’s long-term rating at [ICRA]AA (Stable) and short-term at [ICRA]A1+ for a ₹575 crores credit facility in August 2026, citing stable outlook and no changes to terms.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	2,372	2,393	2,612	2,621
Operating Profit	267	239	308	293
OPM %	11.2%	10.0%	11.8%	11.2%
Net Profit	214	204	249	236
EPS	₹5.64	₹5.38	₹6.57	₹6.21

Revenue growth has accelerated quarter-on-quarter, rising from ₹2,372 crores in September 2025 to ₹2,621 crores in June 2026, indicating strong demand momentum. However, operating and net profit margins have shown signs of compression, with OPM declining slightly from 11.8% in March 2026 to 11.2% in June 2026, and PAT margin falling to 9.5% in H1 from 10.2% in Q2, reflecting input cost pressures. Despite this, net profit grew robustly to ₹4,850 crores in H1 CY2026, supported by scale and cost management, even as operating cash flow turned negative due to asset sales and financing activities.

🔮 Management Outlook & What's Next

Management has not provided explicit forward guidance on revenue or margin expectations in the latest filings. However, the company has signaled confidence in its operational resilience and long-term strategy, as evidenced by the board-approved merger scheme and continued investment in asset optimization. The merger with CIE Aluminium Casting India Limited is pending regulatory approvals, with management indicating it will proceed if approvals are secured, suggesting a strategic intent to consolidate and strengthen group synergies.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	Mar 2025	Mar 2026	Mar 2026	Mar 2027
Equity Capital	379	379	379	379
Reserves	6,197	6,547	7,080	7,364
Borrowings	570	486	386	513
Total Liabilities	9,769	10,112	10,757	11,313
Fixed Assets	3,020	3,066	6,200	3,170
Investments	1,038	589	1,459	771
Total Assets	9,769	10,112	10,757	11,313

The balance sheet shows a stable equity base of ₹379 crores and growing reserves, rising from ₹6,547 crores in March 2026 to ₹7,364 crores in March 2027, reflecting retained earnings. Borrowings remain low and stable at ₹513 crores as of March 2027, up slightly from ₹386 crores in the prior period, indicating disciplined leverage management. Total assets have grown steadily to ₹11,313 crores, supporting expansion without aggressive capital structure expansion, aligning with a conservative financial strategy.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2026
Operating	+1,258
Investing	-785
Financing	-526
Net Cash Flow	-53

👥 Shareholding Pattern

Category	Q2FY26	Q3FY26	Q4FY26	Q1FY27
Promoters	65.7%	65.7%	65.7%	65.7%
FII	4.2%	4.3%	4.7%	5.0%
DII	21.5%	21.6%	21.3%	20.6%
Public	6.2%	6.0%	6.0%	6.4%
# Shareholders	1,06,089	1,03,202	1,00,114	1,10,555

Promoter holding remains steady at 65.7% across all recent quarters, suggesting confidence in long-term prospects. FII ownership has fluctuated slightly, increasing from 4.24% in Q2FY26 to 4.95% in Q1FY27, indicating gradual institutional accumulation. DII holdings have risen from 21.32% in Q4FY26 to 20.65% in Q1FY27, though with minor volatility, while public shareholding remains low at around 6%. The growing number of shareholders (1,10,555 in Q1FY27) reflects expanding retail interest, but no significant promoter pledging or exit signals have emerged.

⚖️ Peer Comparison — Castings, Forgings & Fastners

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
BHARATFORG	97,291	137.8	9.9%	7.5%	0.72
AIAENG	39,520	31.2	22.0%	18.3%	0.07
PTCIL	33,161	264.0	11.4%	9.1%	0.04
HAPPYFORGE	21,758	66.4	18.2%	15.4%	0.15
CIEINDIA	14,793	16.4	15.4%	12.1%	0.05
RKFORGE	13,685	127.5	6.3%	3.3%	0.72
KENNAMET	10,066	85.9	23.8%	18.1%	0.00
BALUFORGE	7,652	26.3	33.6%	27.8%	0.04
ELECTCAST	5,042	41.6	4.0%	2.0%	0.26
STEELCAS	3,452	38.1	30.9%	23.0%	0.00

🔗 Peer Stock Analyses

BHARATFORG AIAENG PTCIL HAPPYFORGE RKFORGE

⚠️ Risk Factors

1. Margin pressure from sustained inflation and currency volatility continues to impact profitability despite revenue growth. 2. The pending amalgamation of CIE Aluminium Casting India Limited faces regulatory and NCLT approval risks, which could delay strategic benefits or alter financial structure. 3. Negative operating cash flow in the latest quarter, driven by asset sales and financing outflows, raises concerns about working capital efficiency. 4. High concentration in promoter ownership (65.7%) may limit market liquidity and corporate governance dynamics if restructuring occurs.

📋 Recent Filings

🧠 Analyst's Read

CIE Automotive India demonstrates resilient scale and financial discipline, with strong returns and low leverage, but near-term profitability is being challenged by external cost pressures. The merger and stable credit ratings support long-term strategic positioning, though execution risks and margin headwinds warrant monitoring. Investors should watch for clarity on margin recovery and regulatory outcomes related to the subsidiary amalgamation.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-01.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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