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Revenue
₹2,393 Cr
verified against source
Revenue YoY
15%
reported change
EBITDA
₹360 Cr
latest reported figure
Source
nse announcements
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
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.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects the quarterly growth trend (7%, 9%, 12%) to sustain, with arithmetic progression likely.
- Expansions underway in composites, stampings, aluminum, and iron foundry; new export program SOP in June 2026.
- Moving fully automated presses and gear production cells from Europe to India starting April 2026.
- Capex in CY26 will exceed CY25 levels, driven by India growth projects.
Risks flagged
- European light vehicle production stagnant; Chinese OEMs gaining share, posing risk to CIE's European business.
- Legasp plant bet on EV components; if EV growth delays further, additional restructuring may be needed.
- These verticals underperformed due to customer concentration and CNG bike drop; recovery expected only by H2 CY26.
- India Q4 growth of 12% lagged industry; management attributes to CNG and aluminium recognition changes, but gap remains material.
Key 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.
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