CIEAUTOMOTIVEINDIA / Q3-FY26 / claim-ledger

Audit the questions that mattered.

CIE Automotive India · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ3-FY26 · 2026-01-30Back to quarter ↗

Questions audited

Answered directly

59%

Numeric claims

Consistency

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Question ledger

What was answered, and how?

Nisha Jalad · Access Capital Limited

partial

Details on deferred new orders in India and restructuring costs in Europe.

CI hosour plant delayed but now reaching full capacity... new order wins in low pressure fabricated fuel rails, inner races, aluminium... In Europe, restructuring in Metacastello is finished, no additional restructuring expected. In Legasp, depends on EV market evolution.

Nisha Jalad · Access Capital Limited

direct

Follow-up on aluminium casting business growth and customer addition.

Yes, we expect to grow. We are adding additional customers and entering higher tonnage components. Production start in Q3/Q4 calendar year 26. We are working on new products and may launch a new factory.

Kapura Desai · Korak Securities

direct

Clarification on net loans of 2.3 billion given during the quarter.

We have good cash generation in Europe and we invested within the group at a good market rate. We reduced debt and deployed surplus in loans within the group.

Ganeshum · Unifi Capital

evasive

Quantitative sense of new orders ramp-up and impact of aluminium reporting change.

The gap in Q4 was largely due to CNG bike sales and change in reporting. We add 8-10 billion of new orders every year. Let's not assign actual numbers, but it was very material.

Ganeshum · Unifi Capital

partial

Areas of degrowth or weakness and forex volatility mitigation.

Weakness in magnetics (small business, less than 200 crores) and aluminium (restructuring done, now confident). On forex, no specific answer given.

Kosh Nahar · Electrum PMS

direct

Manufacturing capacity split between Europe and India and strategy to shift capacity.

Europe is largely forgings (80%) and gears (20%). We are moving certain capacity from Europe to India. By April we will start moving presses and gear production cells to India.

Kosh Nahar · Electrum PMS

direct

Impact of EU-India FTA on wallet share and customer onboarding.

Yes, customers are approaching us in India. We negotiate to get advantage of Indian cost and reliability from Europe. Our proposal is win-win and we will take advantage.

Pratik Kotari · Unique PMS

partial

Aluminium recognition change timing and tractor business degrowth.

Largely in Q4 but impact for full year. Tractor has not degrown; in Q4 tractor growth was higher than market. The gap is largely from CNG and aluminium recognition.

Pratik Kotari · Unique PMS

evasive

Underperformance vs industry and EV growth in Europe.

The gap is largely from CNG and aluminium recognition, but not fully explained. Weighted average industry for us is 17-18. On EV, Chinese have their own supply chain; we don't have presence with Chinese OEMs.

Vira · SIMPL

partial

Cost base comparison in Europe vs competition and India vs China.

CIE is one of the most efficient producers in Europe. India vs China depends on efficiency; Indian plants must be efficient to take advantage of labor cost.

Rajes Jooshi · Chris Capital

partial

Capex figure for CY26 and margin outlook.

Too early for capex figure, but it will be higher than last year. Margins in India will improve; in Europe we are protecting current levels.

Rajes Jooshi · Chris Capital

direct

Strategy to break into non-anchor customers and non-auto opportunities.

Focus on growing among 10-15 customers like Hyundai, Kia, Tata Motors. Non-auto like defense not considered; we have our hands full in existing areas.