New order wins (India)
INR 8.7B
+8.7B YoY
New business won in CY25 for India operations, per year.
CIEAUTOMOTIVEINDIA
Manufacturing
30 Jan 2026
CIE Automotive India Ltd — Q3 FY26
CIE Automotive India reported consolidated Q4 CY25 revenue of INR 23.3 billion, up 15% YoY, driven by strong India operations (INR 15.44 billion, +12% YoY) and Europe (INR 7.88 billion, +21% YoY, but only +4% in euro terms).
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
CIE Automotive India reported consolidated Q4 CY25 revenue of INR 23.3 billion, up 15% YoY, driven by strong India operations (INR 15.44 billion, +12% YoY) and Europe (INR 7.88 billion, +21% YoY, but only +4% in euro terms). India EBITDA margin was 16.8%, impacted by one-off gratuity costs and energy tariff hikes; adjusted margin stood at 17.9%. Europe EBITDA margin fell to 12.7% due to restructuring costs, but adjusted above 15%. Management highlighted a steady improvement in India growth trajectory (7%, 9%, 12% in last three quarters) and expects this to continue, supported by new order wins of INR 8.7 billion per year in India and capacity expansions across verticals. Key risks include European market weakness, Chinese competition, and slower-than-expected EV adoption. The company is transferring some European capacity to India to leverage cost advantages and trade deals.
Key Numbers
New order wins (Europe)
INR 2.1B
+2.1B YoY
New business won in CY25 for European operations, per year.
India quarterly sales growth trend
12%
+12pp YoY
Q4 CY25 India sales growth; prior quarters: 7%, 9%.
EV share of new orders (India)
10%
flat
10% of new India orders in CY25 were for EVs, 90% ICE.
Management Guidance
India growth trajectory to continue improving
Management expects the quarterly growth trend (7%, 9%, 12%) to sustain, with arithmetic progression likely.
Management guidance growthCapacity expansions across multiple verticals
Expansions underway in composites, stampings, aluminum, and iron foundry; new export program SOP in June 2026.
Management guidance expansionTransfer of European capacity to India
Moving fully automated presses and gear production cells from Europe to India starting April 2026.
Management guidance expansionCapex to be higher than CY25
Capex in CY26 will exceed CY25 levels, driven by India growth projects.
Management guidance capexKey Risks
European market weakness and Chinese competition
European light vehicle production stagnant; Chinese OEMs gaining share, posing risk to CIE's European business.
high · management_commentarySlower EV adoption in Europe
Legasp plant bet on EV components; if EV growth delays further, additional restructuring may be needed.
medium · management_commentaryAluminium and magnetics restructuring
These verticals underperformed due to customer concentration and CNG bike drop; recovery expected only by H2 CY26.
medium · analyst_questionUnderperformance vs industry growth
India Q4 growth of 12% lagged industry; management attributes to CNG and aluminium recognition changes, but gap remains material.
medium · data_observationNotable Quotes
We are moving and we are planning to move certain capacity from our European sites to India. We are executing this plan.
Probably is the best time and I think that everybody knows that the automotive industry in India now is having a boom.
We are very optimistic on the evolution of the company in the near future. We all know that the automotive sector in India is now in a very good shape.
Frequently Asked Questions
What was CIE Automotive India's revenue in Q3 FY26?
CIE Automotive India reported revenue of ₹2,393 Cr in Q3 FY26, representing a +15% change compared to the same quarter last year.
What guidance did CIE Automotive India management give for FY27?
India growth trajectory to continue improving: Management expects the quarterly growth trend (7%, 9%, 12%) to sustain, with arithmetic progression likely. Capacity expansions across multiple verticals: Expansions underway in composites, stampings, aluminum, and iron foundry; new export program SOP in June 2026. Transfer of European capacity to India: Moving fully automated presses and gear production cells from Europe to India starting April 2026. Capex to be higher than CY25: Capex in CY26 will exceed CY25 levels, driven by India growth projects.
What are the key risks for CIE Automotive India in FY27?
Key risks include European market weakness and Chinese competition — European light vehicle production stagnant; Chinese OEMs gaining share, posing risk to CIE's European business.; Slower EV adoption in Europe — Legasp plant bet on EV components; if EV growth delays further, additional restructuring may be needed.; Aluminium and magnetics restructuring — These verticals underperformed due to customer concentration and CNG bike drop; recovery expected only by H2 CY26.; Underperformance vs industry growth — India Q4 growth of 12% lagged industry; management attributes to CNG and aluminium recognition changes, but gap remains material..
Did CIE Automotive India meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full CIE Automotive India Q3 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary verified against official BSE/NSE filings.