Yahoo Finance

• Indian Operations Sales: INR14,113 million, a 3% increase year-on-year.

• Indian Operations EBITDA: INR2,628 million.

• Indian Operations EBIT: INR2,090 million.

• Indian Operations EBT: INR2,085 million.

• Indian Operations EBITDA Margin: 18.6% (18% without one-off subsidy).

• European Operations Sales: INR7,849 million, a 19% decrease year-on-year.

• European Operations EBITDA: INR1,088 million.

• European Operations EBIT: INR761 million.

• European Operations EBT: INR646 million.

• European Operations EBITDA Margin: 14%.

• Consolidated Sales: INR21,961 million, a 6% decline year-on-year.

• Consolidated EBITDA: INR3,716 million, a 10% decline year-on-year.

• Consolidated EBIT: INR2,852 million, a 12% decline year-on-year.

• Consolidated EBT: INR2,730 million, a 10% decline year-on-year.

• Consolidated EBITDA Margin: 16.7% (same as Q1 C '24 without one-off effects).

• Warning! GuruFocus has detected 2 Warning Sign with BOM:532756.

Release Date: April 30, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• CIE Automotive India Ltd (BOM:532756) reported a steady improvement in India margins despite sluggish growth, with an EBITDA margin of 18.6% in Q1 C '25, including a one-off subsidy benefit.

• The company has a strong order book, generating between INR800 crores to INR1,000 crores annually, with INR3.5 billion in new orders allocated in Q1 C '25.

• CIE Automotive India Ltd is focusing on operational excellence and cost structures to maintain margins, with a reported consolidated EBITDA margin of 16.7% in Q1 C '25.

• The company is actively pursuing M&A opportunities to reinforce its presence in existing technologies and potentially enter the plastics sector.

• CIE Automotive India Ltd is optimistic about growth in the Indian market, particularly in the tractor and 2-wheeler segments, and is working to convert its strong order book into sales.

Negative Points

• Sales growth in India was only 3% year-on-year, in line with market growth but not exceeding it, indicating a need for faster growth.

• The European operations experienced a 19% year-on-year sales drop due to a slowdown in all segments, impacting consolidated results.

• The EBITDA margin in European operations decreased to 14% in Q1 C '25 from 15.5% in Q1 C '24, due to decreased sales and restructuring costs.

• There are delays in order execution, particularly in electric vehicle projects, affecting the conversion of the order book into sales.

• The company anticipates continued challenges in the European market for at least the next two quarters, with a potential 5% to 7% drop in the light vehicle market.