CIE Automotive India Ltd.
CIEINDIAConsumer Discretionary filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
12 transcript(s)/analyst meet(s) served; 1 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 12 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20190225 | 2018-12-31 | yes | |
| TRANSCRIPT | 20190509 | 2019-03-31 | yes | |
| TRANSCRIPT | 20190724 | 2019-06-30 | yes | |
| TRANSCRIPT | 20191025 | 2019-09-30 | yes | |
| TRANSCRIPT | 20200302 | 2019-12-31 | yes | |
| TRANSCRIPT | 20200427 | 2020-03-31 | yes | |
| TRANSCRIPT | 20210504 | 2021-03-31 | yes | |
| TRANSCRIPT | 20210726 | 2021-06-30 | yes | |
| TRANSCRIPT | 20211019 | 2021-09-30 | yes | |
| TRANSCRIPT | 20220429 | 2022-03-31 | yes | |
| TRANSCRIPT | 20220725 | 2022-06-30 | yes | |
| TRANSCRIPT | 20230428 | 2023-03-31 | yes | |
| COVER_LETTER | 20260526 | 2026-03-31 | no |
CIEINDIA
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 388.95 |
| 52-week range | 375.0 – 497.25 |
| Return 1M | -1.77% |
| Return 3M | -17.47% |
| Return 1Y | -10.93% |
| Return 3Y | -19.03% |
| Return 5Y | 70.41% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 2,621.00 |
| Other income | 29.00 |
| Total income | 2,649.00 |
| Cost of materials consumed | 1,363.00 |
| Purchases of stock-in-trade | 0.00 |
| Changes in inventories | -69.00 |
| Employee benefit expense | 313.00 |
| Finance costs | 10.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.66 | 0.00 |
| institutions foreign | 0.05 | 0.00 |
| institutions domestic | 0.21 | -0.01 |
| mutual funds | 0.20 | -0.01 |
| public | 0.34 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| COVER_LETTER | 2026-03-31 | 1 |
| TRANSCRIPT | 2023-03-31 | 12 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 2,723.00 | 2,247.00 | 2,440.00 | 2,320.00 | 2,279.00 | 2,240.00 | 2,427.00 | 2,293.00 | 2,135.00 | 2,110.00 | 2,273.00 | 2,369.00 | 2,372.00 | 2,393.00 | 2,612.00 | 2,621.00 |
| Other income | 14.00 | 24.00 | 16.00 | 20.00 | 20.00 | 27.00 | 51.00 | 31.00 | 24.00 | 34.00 | 36.00 | 22.00 | 19.00 | 24.00 | 28.00 | 29.00 |
| Total income | 2,737.00 | 2,271.00 | 2,456.00 | 2,340.00 | 2,299.00 | 2,267.00 | 2,478.00 | 2,323.00 | 2,159.00 | 2,144.00 | 2,309.00 | 2,391.00 | 2,391.00 | 2,417.00 | 2,640.00 | 2,649.00 |
| Cost of materials consumed | 1,473.00 | 1,216.00 | 1,245.00 | 1,262.00 | 1,174.00 | 1,172.00 | 1,240.00 | 1,212.00 | 1,102.00 | 1,094.00 | 1,148.00 | 1,213.00 | 1,172.00 | 1,191.00 | 1,283.00 | 1,363.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | -14.00 | -25.00 | 48.00 | -54.00 | 73.00 | -10.00 | 50.00 | -38.00 | 3.00 | 8.00 | 26.00 | 0.00 | 29.00 | -10.00 | 40.00 | -69.00 |
| Employee benefit expense | 319.00 | 236.00 | 260.00 | 257.00 | 232.00 | 245.00 | 262.00 | 267.00 | 240.00 | 242.00 | 260.00 | 296.00 | 273.00 | 299.00 | 287.00 | 313.00 |
| Finance costs | 17.00 | 8.00 | 24.00 | 22.00 | 31.00 | 30.00 | 22.00 | 21.00 | 17.00 | 18.00 | 13.00 | 2.00 | 4.00 | 9.00 | 9.00 | 10.00 |
| Depreciation and amortisation | 87.00 | 77.00 | 83.00 | 83.00 | 78.00 | 78.00 | 86.00 | 84.00 | 80.00 | 81.00 | 86.00 | 87.00 | 89.00 | 96.00 | 94.00 | 97.00 |
| Other expenses | 629.00 | 527.00 | 506.00 | 485.00 | 455.00 | 506.00 | 515.00 | 491.00 | 459.00 | 467.00 | 504.00 | 522.00 | 543.00 | 579.00 | 600.00 | 623.00 |
| Total expenses | 2,510.00 | 2,039.00 | 2,166.00 | 2,055.00 | 2,043.00 | 2,021.00 | 2,175.00 | 2,037.00 | 1,901.00 | 1,909.00 | 2,036.00 | 2,121.00 | 2,109.00 | 2,163.00 | 2,314.00 | 2,338.00 |
| Profit before exceptional items and tax | 227.00 | 232.00 | 290.00 | 285.00 | 256.00 | 245.00 | 304.00 | 286.00 | 258.00 | 234.00 | 273.00 | 270.00 | 282.00 | 254.00 | 327.00 | 311.00 |
| Exceptional items | 0.00 | 38.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 227.00 | 270.00 | 290.00 | 285.00 | 256.00 | 245.00 | 304.00 | 286.00 | 258.00 | 234.00 | 273.00 | 270.00 | 282.00 | 254.00 | 327.00 | 311.00 |
| Current tax | 58.00 | 53.00 | 67.00 | 80.00 | 71.00 | 56.00 | 75.00 | 75.00 | 64.00 | 51.00 | 65.00 | 71.00 | 71.00 | 59.00 | 79.00 | 80.00 |
| Deferred tax | -2.00 | 23.00 | 3.00 | -9.00 | -2.00 | 12.00 | -1.00 | -5.00 | 2.00 | 4.00 | 2.00 | -3.00 | -2.00 | -4.00 | 1.00 | -2.00 |
| Tax expense | 56.00 | 76.00 | 70.00 | 71.00 | 69.00 | 68.00 | 74.00 | 70.00 | 65.00 | 55.00 | 67.00 | 68.00 | 69.00 | 54.00 | 80.00 | 78.00 |
| Profit for the period | 171.00 | -658.00 | 279.00 | 302.00 | 375.00 | 169.00 | 230.00 | 217.00 | 195.00 | 185.00 | 206.00 | 204.00 | 214.00 | 204.00 | 249.00 | 236.00 |
| Profit attributable to owners | 0.00 | 0.00 | — | 302.00 | 375.00 | 169.00 | 230.00 | 217.00 | 195.00 | 185.00 | 206.00 | 204.00 | 214.00 | 204.00 | 249.00 | 236.00 |
| Profit attributable to non-controlling interests | 0.00 | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other comprehensive income | -66.00 | 252.00 | 21.00 | -3.00 | -26.00 | 75.00 | -36.00 | -13.00 | 75.00 | -75.00 | 59.00 | 146.00 | 80.00 | 34.00 | 62.00 | 3.00 |
| Total comprehensive income | 105.00 | -406.00 | 301.00 | 298.00 | 350.00 | 244.00 | 194.00 | 203.00 | 270.00 | 110.00 | 265.00 | 350.00 | 294.00 | 239.00 | 312.00 | 238.00 |
| Earnings per share, basic | 4.52 | -17.36 | 7.36 | 7.95 | 9.90 | 4.45 | 6.08 | 5.72 | 5.14 | 4.88 | 5.44 | 5.36 | 5.64 | 5.38 | 6.57 | 6.21 |
| Earnings per share, diluted | 4.52 | -17.35 | 7.36 | 7.95 | 9.90 | 4.45 | 6.08 | 5.72 | 5.14 | 4.88 | 5.44 | 5.36 | 5.64 | 5.38 | 6.57 | 6.21 |
Annual results, as filed
| Line | 2019-12-31 | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|---|---|---|
| Revenue from operations | 7,908.00 | 6,050.00 | 8,387.00 | 8,753.00 | 9,280.00 | 8,964.00 | 9,406.00 |
| Other income | 33.00 | 55.00 | 56.00 | 58.00 | 82.00 | 140.00 | 101.00 |
| Total income | 7,941.00 | 6,105.00 | 8,442.00 | 8,811.00 | 9,362.00 | 9,104.00 | 9,508.00 |
| Cost of materials consumed | 3,659.00 | 2,679.00 | 4,213.00 | 4,861.00 | 4,853.00 | 4,647.00 | 4,724.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 90.00 | 127.00 | -205.00 | -85.00 | 57.00 | 23.00 | 45.00 |
| Employee benefit expense | 1,308.00 | 1,262.00 | 1,348.00 | 902.00 | 994.00 | 1,010.00 | 1,127.00 |
| Finance costs | 52.00 | 55.00 | 53.00 | 23.00 | 107.00 | 78.00 | 27.00 |
| Depreciation and amortisation | 316.00 | 306.00 | 343.00 | 296.00 | 322.00 | 331.00 | 358.00 |
| Other expenses | 1,883.00 | 1,480.00 | 2,014.00 | 1,903.00 | 1,951.00 | 1,933.00 | 2,148.00 |
| Total expenses | 7,308.00 | 5,910.00 | 7,766.00 | 7,900.00 | 8,286.00 | 8,022.00 | 8,429.00 |
| Profit before exceptional items and tax | 632.00 | 195.00 | 677.00 | 911.00 | 1,076.00 | 1,082.00 | 1,079.00 |
| Exceptional items | -5.00 | 0.00 | -13.00 | 40.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 628.00 | 195.00 | 664.00 | 951.00 | 1,076.00 | 1,082.00 | 1,079.00 |
| Current tax | 71.00 | 46.00 | 143.00 | 219.00 | 274.00 | 264.00 | 265.00 |
| Deferred tax | 203.00 | 43.00 | 129.00 | 21.00 | 4.00 | 0.00 | -7.00 |
| Tax expense | 274.00 | 89.00 | 272.00 | 240.00 | 278.00 | 264.00 | 258.00 |
| Profit for the period | 354.00 | 106.00 | 393.00 | -136.00 | 1,125.00 | 828.00 | 828.00 |
| Profit attributable to owners | — | — | — | 0.00 | 1,125.00 | 828.00 | 828.00 |
| Profit attributable to non-controlling interests | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 |
| Other comprehensive income | -12.00 | 168.00 | -105.00 | 133.00 | 68.00 | -49.00 | 320.00 |
| Total comprehensive income | 342.00 | 274.00 | 288.00 | -4.00 | 1,193.00 | 779.00 | 1,148.00 |
| Earnings per share, basic | 9.34 | 2.80 | 10.36 | -3.59 | 29.66 | 21.81 | 21.83 |
| Earnings per share, diluted | 9.33 | 2.80 | 10.36 | -3.59 | 29.66 | 21.81 | 21.83 |
Balance sheet, as filed
| Line | 2022-12-31 | 2023-06-30 | 2023-12-31 | 2024-06-30 | 2024-12-31 | 2025-06-30 | 2025-12-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 9,928.00 | 10,361.00 | 9,762.00 | 9,683.00 | 9,769.00 | 10,112.00 | 10,757.00 | 11,313.00 |
| Non-current assets | 6,006.00 | 6,515.00 | 6,615.00 | 6,300.00 | 6,319.00 | 6,616.00 | 6,959.00 | 7,397.00 |
| Current assets | 2,943.00 | 2,976.00 | 3,147.00 | 3,383.00 | 3,450.00 | 3,496.00 | 3,798.00 | 3,915.00 |
| Property, plant and equipment | 2,714.00 | 2,812.00 | 2,929.00 | 2,746.00 | 2,908.00 | 2,956.00 | 3,036.00 | 3,066.00 |
| Capital work-in-progress | 119.00 | 127.00 | 54.00 | 155.00 | 66.00 | 81.00 | 130.00 | 167.00 |
| Goodwill | 2,804.00 | 2,818.00 | 2,854.00 | 2,818.00 | 2,814.00 | 2,970.00 | 3,038.00 | 3,068.00 |
| Other intangible assets | 29.00 | 28.00 | 27.00 | 25.00 | 23.00 | 23.00 | 22.00 | 19.00 |
| Inventories | 1,211.00 | 1,201.00 | 1,163.00 | 1,119.00 | 1,091.00 | 1,110.00 | 1,130.00 | 1,217.00 |
| Trade receivables | 861.00 | 1,114.00 | 633.00 | 1,260.00 | 627.00 | 1,268.00 | 609.00 | 1,341.00 |
| Cash and cash equivalents | 71.00 | 88.00 | 210.00 | 141.00 | 301.00 | 228.00 | 230.00 | 190.00 |
| Total equity and liabilities | 9,928.00 | 10,361.00 | 9,762.00 | 9,683.00 | 9,769.00 | 10,112.00 | 10,757.00 | 11,313.00 |
| Equity | 5,098.00 | 5,604.00 | 5,988.00 | 6,196.00 | 6,577.00 | 6,926.00 | 7,459.00 | 7,744.00 |
| Equity share capital | 379.00 | 379.00 | 379.00 | 379.00 | 379.00 | 379.00 | 379.00 | 379.00 |
| Other equity | 4,719.00 | 5,224.00 | 5,609.00 | 5,816.00 | 6,197.00 | 6,547.00 | 7,080.00 | 7,364.00 |
| Total liabilities | 4,830.00 | 4,757.00 | 3,774.00 | 3,487.00 | 3,192.00 | 3,186.00 | 3,298.00 | 3,569.00 |
| Non-current liabilities | 712.00 | 634.00 | 671.00 | 589.00 | 1,011.00 | 775.00 | 759.00 | 739.00 |
| Current liabilities | 3,400.00 | 3,402.00 | 3,103.00 | 2,898.00 | 2,181.00 | 2,410.00 | 2,539.00 | 2,829.00 |
| Borrowings, non-current | 119.00 | 66.00 | 101.00 | 30.00 | 422.00 | 181.00 | 186.00 | 158.00 |
| Borrowings, current | 805.00 | 740.00 | 702.00 | 396.00 | 99.00 | 260.00 | 200.00 | 317.00 |
| Trade payables | 2,135.00 | 2,134.00 | 1,934.00 | 1,937.00 | 1,581.00 | 1,662.00 | 1,863.00 | 2,002.00 |
Cash flow, as filed
| Line | 2022-12-31 | 2023-06-30 | 2023-12-31 | 2024-06-30 | 2024-12-31 | 2025-06-30 | 2025-12-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 1,118.00 | 636.00 | 1,383.00 | 106.00 | 881.00 | -74.00 | 1,258.00 | -19.00 |
| Net cash from investing activities | -640.00 | -408.00 | -910.00 | 423.00 | -238.00 | 440.00 | -785.00 | 183.00 |
| Net cash from financing activities | -488.00 | -263.00 | -427.00 | -596.00 | -553.00 | -428.00 | -526.00 | -207.00 |
| Purchase of property, plant and equipment | 501.00 | 290.00 | 530.00 | 200.00 | 387.00 | 143.00 | 377.00 | 245.00 |
| Net increase in cash | -6.00 | -35.00 | 51.00 | -69.00 | 91.00 | -73.00 | -70.00 | -41.00 |
| con:CFO.BEFORE_TAX | 1,316.00 | 786.00 | 1,762.00 | 209.00 | 1,159.00 | 32.00 | 1,520.00 | 114.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | -15.00 | -16.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 198.00 | 139.00 | 358.00 | 88.00 | 262.00 | 106.00 | 263.00 | 133.00 |
| con:CF_OTHER.OPERATING | 0.00 | -12.00 | -20.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 127.00 | 0.00 | 0.00 | 2.00 | 5.00 | 0.00 | 369.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 477.00 | 0.00 | 718.00 |
| con:PPE_DISPOSALS | 58.00 | 3.00 | 18.00 | 19.00 | 6.00 | 4.00 | 5.00 | 3.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 89.00 | 89.00 | 19.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 7.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 5.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 68.89 | 65.70 | 65.70 | 65.70 | 65.70 | 65.70 | 65.70 | 65.70 | 65.70 | 65.70 | 0.66 | 0.66 | 0.66 | 0.66 |
| Domestic institutions | 11.21 | 14.77 | 15.41 | 15.98 | 18.12 | 19.44 | 20.33 | 20.72 | 20.91 | 21.49 | 0.22 | 0.22 | 0.21 | 0.21 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 20.76 | 0.21 | 0.21 | 0.20 | 0.20 |
| Insurance companies | 0.15 | 0.29 | 0.30 | 0.22 | 0.23 | 0.26 | 0.18 | 0.15 | 0.14 | 0.08 | 0.00 | 0.00 | 0.00 | 0.00 |
| Foreign institutions | 8.62 | 7.54 | 6.61 | 5.63 | 5.12 | 5.03 | 4.33 | 4.47 | 4.37 | 4.15 | 0.04 | 0.04 | 0.05 | 0.05 |
| Government | — | — | — | — | — | — | — | — | — | 0.04 | 0.00 | 0.00 | 0.00 | 0.00 |
| Public | 31.11 | 34.30 | 34.30 | 34.30 | 34.30 | 34.30 | 34.30 | 34.30 | 34.30 | 34.30 | 0.34 | 0.34 | 0.34 | 0.34 |
| Non-institutional | 11.26 | 11.97 | 12.25 | 12.66 | 11.02 | 9.78 | 9.60 | 9.07 | 8.98 | 8.62 | 0.09 | 0.08 | 0.08 | 0.09 |
| Shares outstanding | 379362377 | 379362377 | 379362377 | 379362377 | 379362377 | 379362377 | 379362377 | 379362377 | 379362377 | 379362377 | 379362377 | 379362377 | 379362377 | 379362377 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-12-31, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| CIE Automotive Limited SA | Ultimate holding company | Any other transaction, Inter-corporate deposit, Inte | 9,813,650,000.00 | 11 |
| Mahindra & Mahindra Limited | Entity exercising significant infl | Any other transaction, Interest paid, Purchase of go | 8,467,140,000.00 | 7 |
| CIE Aluminium Castings India Limited | Subsidiary Company | Any other transaction, Dividend received, Inter-corp | 5,311,400,000.00 | 7 |
| CIE Forgings Germany GmbH | Subsidiary Company | Any other transaction, Inter-corporate deposit, Inte | 866,330,000.00 | 4 |
| CIE Hosur Limited | Subsidiary Company | Any other transaction, Inter-corporate deposit, Inte | 728,730,000.00 | 6 |
| Mahindra Auto Steel Private Limited | Subsidiary of the entity exercisin | Purchase of goods or services | 623,020,000.00 | 1 |
| Mahindra Last mile Mobility limited | Subsidiary of the entity exercisin | Interest paid, Sale of goods or services | 620,800,000.00 | 2 |
| Gescrap India Private Limited | Associate Company | Investment, Purchase of goods or services, Sale of g | 553,890,000.00 | 4 |
| CIE Automotive de Mexico, SAPI de C.V. | Fellow subsidiary | Inter-corporate deposit, Interest paid, Interest rec | 461,700,000.00 | 3 |
| Mahindra Accelo Limited | Subsidiary of the entity exercisin | Purchase of goods or services | 436,830,000.00 | 1 |
| Participaciones Internacionales Autometal Dos, S.L | Holding Company | Dividend paid, Inter-corporate deposit, Interest rec | 283,480,000.00 | 3 |
| Maquinados Automotrices y Talleres Industriales de Celaya, S | Fellow subsidiary | Sale of goods or services | 174,230,000.00 | 1 |
| Samper Refeinsa Galicia, S.L. | Associates of Ultimate holding com | Sale of goods or services | 148,270,000.00 | 1 |
| Mahindra Logistics Limited | Subsidiary of the entity exercisin | Purchase of goods or services | 134,990,000.00 | 1 |
| Gameko Fabricación de Componentes, S.A. | Fellow subsidiary | Any other transaction, Purchase of fixed assets, Pur | 132,490,000.00 | 3 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2023-04-28 | Q4FY23 | MAHINDRA CIE LIMITED | Read the call |
| 2022-07-25 | Q1FY23 | CHIEF, INVESTOR, M&A,, MAHINDRA CIE AUTOMOTIVE LIMITED, MANAGER,, OROITZ, STRATEGY, M&A, m | Read the call |
| 2022-04-29 | Q4FY22 | MAHINDRA CIE AUTOMOTIVE LIMITED, mahindra c / E | Read the call |
| 2021-10-19 | Q2FY22 | CHIEF, MAHINDRA CIE AUTOMOTIVE LIMITED, OROITZ | Read the call |
| 2021-07-26 | Q1FY22 | MAHINDRA CIE, OFFICER - MAHINDRA CIE, STRATEGY - MAHINDRA CIE | Read the call |
| 2021-05-04 | Q4FY21 | DEPUTY, GLOBAL, MAHINDRA CIE AUTOMOTIVE LIMITED, OROITZ, SWAPNIL | Read the call |
| 2020-04-27 | Q4FY20 | MAHINDRA CIE AUTOMOTIVE LIMITED | Read the call |
| 2020-03-02 | Q3FY20 | MAHINDRA CIE AUTOMOTIVE LIMITED | Read the call |
| 2019-10-25 | Q2FY20 | OFFICER | Read the call |
| 2019-07-24 | Q1FY20 | MAHINDRA CIE LIMITED | Read the call |
| 2019-05-09 | Q4FY19 | MAHINDRA CIE LIMITED | Read the call |
| 2019-02-25 | Q3FY19 | MAHINDRA CIE LIMITED | Read the call |
What they said about it, quarter by quarter
| Topic | Q2FY22 | Q3FY19 | Q3FY20 | Q4FY19 | Q4FY20 | Q4FY21 | Q4FY22 | Q4FY23 |
|---|---|---|---|---|---|---|---|---|
| Capex | October 14, 2021 tolerance part so for that you may require additional capex. | Our overall net debt has reduced to about Rs.7254 million and there was a capex of Rs.3772 million in CY2018 on a consolidated basis out of which Rs.1… | You know that in 2018 we travel with quality deliveries with the technological, let's say, training of the team and all these processes that are stand… | Metalcastello is still growing, and in fact we are adding some additional capacity, we have signed capex already approved to increase our capacity in … | Capex is being reviewed, and only the most urgent and important will be approved; inventory is being drawn down; outsourced activities are being revie… | Now last question I mean on the capex side since Ander stated that customers are pushing I mean to supply more and more and last year we did not inves… | Ander the question is now in India we have performed much better despite two- wheeler is not doing well and also you said some of the capex as well as… | So, how do we see India business growth for current year as well as next couple of year and what kind of a capex, that we are planning? |
| Capital allocation | October 14, 2021 new acquisition of the client as well as new businesses particularly in Europe the EV is penetrating much faster pace. | Just I made the comment in the question before that yes we still have the plan to integrate those the three forgings that three machines forgings to i… | If you recall, the AEL acquisition was done in cash from our balance sheet. | In the next quarter, we should see improvement in Latin growth and in margins in Bill Forge because this Mexican business will start paying its divide… | Regarding the opportunities, the acquisition opportunities, of course, we are open to acquire companies and if the target company meets our requiremen… | Next a word about dividend, MCIE’s dividend distribution policy was amended by the board. | This is the impact on the consolidated number; the consolidated number would have been lower in case if we knock off this extra dividend part? | The first question was, if you can talk about on the overseas PV forging business, with respect to the electric rather the customer acquisition on the… |
| Costs | Of course in this moment because of the high increase or the strong increase of the raw material the margins are additional challenge for us especiall… | — | So again, there could you just provide some more color on what kind of cost savings or any benefits that you have seen in this quarter? | The other question was also on M&M and Tata Motors diesel portfolio for us, do you see a challenge particularly post BS6 transition in the short to me… | I mean all our customers are invoicing us in U.S. dollar, and the raw materials we buy, we buy in U.S. dollars so let us say, most of the cost and the… | So regarding the first question the raw material increase impact in our turnover in the first quarter was approximately 4.5% so that is the impact of … | April 26, 2022 talking in general, we have been doing a lot of work on digitization, automation in India that has been going on, when we mentioned tha… | And the second question was related to, we are hearing a lot about employee cost inflation in Europe in this year. |
| Debt and cash | Just had one follow-up question on the Metalcastello cash flow EV orders when is that order expected to start the commercialization of that order, whe… | February 21, 2019 In slide 12 and 13, you will see our balance sheet and cash flow. | February 27, 2020 On Page 21 and 22, you will see our balance sheet and cash flow. | My first taking a question on the net debt, which we have as of March. | There is a weekly review of the cash flow. | — | — | But from January, the rates have hit 3% plus on the working capital. |
| Demand | October 14, 2021 demand in India is recovering slower than expected from the second wave especially in rural India. | This focus on efficiency will help shore up performance during times when market demand looks uncertain and we have demonstrated this in Q4 CY2018. | These actions that we have undertaken during this year are not only to realign our business to new market realities, but also to make our businesses m… | No, as far as the cost inflation is there we know that there will be more cost inflation in diesel models vis-à-vis petrol models, so to that extent t… | In general, all agencies are forecasting substantial drop in demand in all segments, both in India and Europe. | Of course, there is some potential pushback in demand, but from our experience of the first wave, we do expect volumes to recover before the end of th… | April 26, 2022 have been adding capacity in India so we have had the order books, we have been talking about if you look at in C2021 we had so much ca… | Also the reality is that, in the next quarters, we are monitoring the American market because that approximately 70% of our sales in Metalcastello are… |
| Guidance | But after that we think that there is a very strong sentiment comes in the customers in the automotive market and we expect that all the businesses wi… | February 21, 2019 this is feasible and we expect to materialize that so in that sense we expect and this is our expectation is to outperform the marke… | So we are now already planning to continue investing and increasing the number of machinery to cope with the demand that we expect. | We expect that for the next quarter and especially by let us say second half of the year, the Indian market should start revamping. | We expect potential recovery in Q3 CY2020, Q3 CY2020 in India and Q4 CY2020 in Europe. | April 30, 2021 Europe and we expect this market share to increase to 15% in 2025 and to between 30% to 40% of the market share in 2013, so in that sen… | So typically the energy cost ended by about 4.5% of sales now and CY2021 given the fact that in the fourth quarter we have seen a spike in Europe it h… | We don't know when, but we expect that this will happen. |
| Margin | MCIE India EBITDA margin in Q3 C21 was 15.1%. | February 21, 2019 basis the EBITDA percent has improved by about 220 basis points over Q3 CY2018. | In absolute terms, the EBITDA margin from the India business was 12.6%. | 10% growth in revenue, 13% growth in EBITDA, 16% growth in EBIT and 12% growth in EBT when we compare the same quarter of last year. | Despite a difficult market situation worldwide, our EBITDA is at 11.7% in Q1 CY2020. | For the contribution margin usually we consider our variable cost such as all the consumables raw material energy and also all the part of the workfor… | April 26, 2022 EBITDA margin is at 10.2% lower by 3.7% compared to Q1 C2021, but better by 1.1% than Q4 C2021, so clearly this measure is helping. | April 26, 2023 EBITDA margin in Europe in Q1 CY ‘23 was 17.6% compared to 14.5% in Q1 CY ‘22 and 14.6% in Q4 CY ‘22. |
| People | — | The capacity utilization is in the different technologies, so but overall we can say that it can be around 80% in our capacity in more or less and wha… | — | — | Nice to hear that and just lastly on 2 on 2 things I mean one is on, how do you see yourself after this COVID situation because I think if this persis… | April 30, 2021 investor presentation we had pointed out that we have a three-fold strategy to make sure that our capacity utilization in our forging p… | So India is in the moment at the high saturation I would say and in Europe we can be in the moment at 70%, 75% of capacity utilization, so we still ha… | Perfect, and sir, what would be our capacity expansion plan in Metalcastello given that, we were working at a high-capacity utilization there and we a… |
| Pricing | October 14, 2021 semiconductor shortage then the steel and the commodity price increases but despite this the company is performing well and we are in… | Yes, because the price increase was due to the raw material growth that happened in the last quarter in 2017, so in 2018 there was no price increase. | — | — | — | — | These energy price increases continued during the last quarter and this affected us importantly especially in our Spanish plants. | We have got from the German government for the gas pricing, etcetera. |
| Revenue growth | — | We are pleased to point out that MCIE India EBITDA margins for CY2018 has crossed the 15% target we had set for ourselves and this has happened on acc… | This year, in 2019, in Mexico we had a growth of something like 40%, 39% growth in the company. | May 07, 2019 where we still have growth as the market in Europe is growing approximately in the commercial vehicles about 5% and we are having growth … | Yes so in Q2, do you foresee kind of EBITDA loss and overall scheme of thing and if you if whatever cost program, etc., you have, so at what level of … | First question on our European revenues, can you indicate what was the European revenue growth in terms of euro basis. | Just taking previous discussion forward we talked about a 10% kind of Y-o-Y growth at a constant currency and removing the impact of RM and energy pri… | The growth of our European business is coming from mainly, the increase of the market. |
What they said they would do
Sentences in which management set an expectation. Each names the speaker and the page of the transcript it came from.
| Date | Quarter | Who | What they said |
|---|---|---|---|
| 2019-05-09 | Q4FY19 | MAHINDRA CIE LIMITED | We understand now there are certain uncertainties in the market, this insurance impact in the two-wheeler, the different political instability and uncertainty creating some downturn in the market, but we expect that if the monsoon helps us, and we have a good monsoon this year, probably by the end of the year, we will recuperate this 8% to 10% growth that is expected in a country like India. |
| 2020-03-02 | Q3FY20 | MAHINDRA CIE AUTOMOTIVE LIMITED | We target about 50%, or in absolute terms at Rs. |
| 2020-03-02 | Q3FY20 | MAHINDRA CIE AUTOMOTIVE LIMITED | So according to the economy evolution, we should be growing 1% or 2%. |
| 2021-05-04 | Q4FY21 | MAHINDRA CIE AUTOMOTIVE LIMITED | April 30, 2021 Europe and we expect this market share to increase to 15% in 2025 and to between 30% to 40% of the market share in 2013, so in that sense what we are now is working on changing the portfolio focusing more on in chassis component in aluminum forgings so we are making this transition to this and we are quoting to customers with several projects and we are working on that actively in regarding the short-term impact we do not see any certain impact I mean we do not see that the electric vehicle market will be an important they will have an important share in the next year but we are |
| 2021-05-04 | Q4FY21 | MAHINDRA CIE AUTOMOTIVE LIMITED | April 30, 2021 Ander Arenaza Álvarez: We are planning usually between 5% to 6% of the turnover in the capex this is our standard capex in 2019 we invested Rs.4.1 billion and this year we expect to be there or even more depending on the customer requirements probably and that is also important to say that we are investing importantly that in the first quarter we invested I think it was about Rs.1 billion rupees and so we are at the base of 4 billion per year and probably they will in the second half of the year we will increase this rate because of the new order that we are getting and also as |
| 2022-04-29 | Q4FY22 | mahindra c / E | So typically the energy cost ended by about 4.5% of sales now and CY2021 given the fact that in the fourth quarter we have seen a spike in Europe it has gone about 4% for CY2021, so I think so what kind of an increase can we expect in CY2022, the power rates have already remained quite elevated for now the first four months in Europe, so are we expecting to see some kind of a reduction in the second half or what kind of movement can we expect to see on that? |
| 2022-04-29 | Q4FY22 | mahindra c / E | Also as Vikas said all the verticals especially in the four-wheelers are doing well in India and let us say that our sales could be much better if the two-wheeler sector and the tractor sector recuperates and that is why we are quite optimistic for the future because we will not only keep this sales trend but also we should be able to improve once the two-wheeler and the tractor sector recuperates because you know that the two-wheeler is approximately 20% below last year and tractors are even more 35% below. |
| 2022-04-29 | Q4FY22 | mahindra c / E | We are negatively affected in Europe in this moment by the energy and the inflation costs, those are the two impacts that are affecting us and also it is important to say that the raw material price increase the sales margin is also affecting to the margin, it is affecting between 1% to 2% on our margins just for the raw material increase that has been passed through 100% to the customers, so those are the main impacts in our account and it is true that we should be able to continue improving if we are able to pass through the energy cost to the customers. |