CIE Automotive India Ltd (NSE: CIEINDIA) released audited financial results for Q4 and full-year CY2025 on February 19, 2026, showing consolidated revenue up 6% to \u20b991,223 million and stable PAT at \u20b98,282 million. The board recommended a \u20b97 per share final dividend, signaling confidence despite one-off costs impacting margins. Shares traded around \u20b9390 with a market cap near \u20b917,400 crore.<\/p>\n\n\n\n
Consolidated sales rose 15% in Q4 CY2025 to \u20b923,258 million from \u20b920,292 million year-ago, driven by 12% India growth and 21% Europe sales increase. Full-year revenue expanded 6% to \u20b991,223 million, with India up 8% to \u20b959,370 million aligned to market gains in two-wheelers (8.3%), tractors (17.2%), and MHCV (8.4%). EBITDA margin dipped to 16.0% from 17.3% due to \u20b9132 million labor code gratuity impact and Legazpi restructuring costs.<\/p>\n\n\n\n
The board approved audited CY2025 results and a \u20b97 final dividend (70% payout) on February 19, 2026, alongside 27th AGM notice for April 29. Q4 PAT stood at \u20b92,043 million (EPS \u20b95.38), with full-year net debt\/equity at -0.25x reflecting strong liquidity (net cash \u20b918,807 million). Stock dipped 7.9% over past year but outperformed in recent months amid auto recovery.<\/p>\n\n\n\n
India delivered Q4 EBITDA margin of 16.8% (down from 17.3% QoQ), with full-year at 17.5% on \u20b910,410 million EBITDA. Europe Q4 sales hit \u20b97,823 million (+21% YoY in INR, +4% in EUR), but EBITDA margin fell to 12.7% from restructuring; full-year sales flat at \u20b931,853 million with 13.3% margin. Standalone full-year revenue grew to \u20b948,964 million, PAT to \u20b96,169 million (EPS \u20b916.26).<\/p>\n\n\n\n
Management targets capacity expansion in India for EV components like inverter housings, e-drive gears, and battery enclosures across forgings (35%), stampings (23%), and aluminum castings (18%). Capex focused on organic growth (5% of sales), with EV orders offsetting crankshaft decline in Europe; strong operating cash flow of \u20b912,580 million supports dividend and investments. Priorities include higher value-added products in two-wheelers, tractors, and MHCV amid 7-9% two-wheeler CAGR forecast FY26-30.<\/p>\n\n\n\n
India auto production grew: light vehicles +8.1% to 25.5 million, two-wheelers +8.4% to 402 million units in CY25. Europe light vehicles flat at 15.67 million (-0.5%), MHCV -1.6%, pressuring forgings from Chinese competition and EV shift. Budget 2026 boosts EV ecosystem and infrastructure, aiding CIE’s 65% India revenue exposure. RONA at 18.4% (down from 19.8%).<\/p>\n\n\n\n
Six analysts rate “Outperform” with average target \u20b9493 (26% upside from \u20b9390), high \u20b9574; reasons include EV order wins (>\u20b93 billion), healthy CFO yields (~7%), and RoE\/RoCE to 15%\/17% by CY27. Recent Q3 beats (11% revenue growth) reinforce buy case despite margin squeeze.<\/p>\n\n\n\n
CY26 eyed positive across segments post-GST cuts: light vehicles +7.4%, MHCV +5.3%, two-wheelers 8-10%. Europe adapts to lower volumes via restructuring; India accelerates H2 growth, with EV penetration rising (e2W 6-25%, e4W 3-15% next 5 years). Recurrent EBITDA margins stable excluding one-offs.<\/p>\n\n\n\n
New labor codes added \u20b9132 million gratuity charge; registered office shifted to Baner Road effective August 29, 2025. Forgings lead (35% mix), with EV focus in gears\/machining; 20 plants, 10,000 employees; Mexico plant reclassified under Europe.<\/p>\n\n\n\n
Market cap \u20b917,396 crore as of late 2025; promoter holding 65.7%; 6-month share return +6.4% vs Nifty +3.1%. Results highlight India resilience offsetting Europe weakness, with dividend underscoring capital return discipline.<\/p>\n\n\n\n
Auto components sector faces EV transition (crankshaft redundancy), Chinese competition in Europe, but India benefits from 5-8% MHCV growth and rural spending. CIE’s diversification (two-wheelers 23%, light vehicles 13%) and exports (14%, Europe-focused) position it well.<\/p>\n\n\n\n
CIE supplies precision forgings, castings, stampings to OEMs; 65% India\/35% global revenue, diversified customers (top 12-15%). Operates 20 plants; strong balance sheet (ROE 11.1%) funds EV pivot amid steady demand.<\/p>\n\n\n\n
CIE holds robust India positioning (8% market-aligned growth) with net cash status and 18.4% RONA, navigating Europe challenges via restructuring and EV diversification. Trades at discount to 5-year averages but analyst upside signals rebound potential in recovering auto cycle.<\/p>\n","protected":false},"excerpt":{"rendered":"
CIE Automotive India Ltd (NSE: CIEINDIA) released audited financial results for Q4 and full-year CY2025 on February 19, 2026, showing consolidated revenue up 6% to \u20b991,223 million and stable PAT at \u20b98,282 million. The board recommended a \u20b97 per share final dividend, signaling confidence despite one-off costs impacting margins. Shares traded around \u20b9390 with a […]<\/p>\n","protected":false},"author":2385,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1941,6351],"tags":[16660,16658,16656,16665,16666,16667,16664,16655,16659,16662,16661,16663,16657,16668],"class_list":["post-181374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock-analysis","category-consumer-stocks","tag-cie-automotive","tag-cie-automotive-announcement","tag-cie-automotive-earnings","tag-cie-automotive-india-ltd","tag-cie-automotive-investor-relations","tag-cie-automotive-management","tag-cie-automotive-price","tag-cie-automotive-q1","tag-cie-automotive-stocks","tag-cie-automotive-ticker","tag-cieindia-q1","tag-cieindia-q2","tag-cieindia-q3","tag-cieindia-q4"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":171042,"url":"https:\/\/alphastreet.com\/india\/cie-automotive-q1-fy26-earnings-results\/","url_meta":{"origin":181374,"position":0},"title":"CIE Automotive Q1 FY26 Earnings Results","author":"Divyansh_Kasana","date":"September 8, 2025","format":false,"excerpt":"CIE Automotive India Ltd is a subsidiary of CIE Automotive S.A, Spain, with significant shareholder Mahindra Vehicle Manufacturing Ltd. 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