CIE Automotive Q3CY26 Results (NSE: CIEINDIA)
Signal: Steady quarter
The read
Steady quarter marked by sustained India top-line outperformance (+18.1% YoY) and solid Europe margin execution (Europe EBIT +19.2% YoY despite -2.9% revenue decline), keeping consolidated PAT growth in the double digits at +13.9% YoY.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹2,633.18 Cr | +11.02% | +0.48% |
| EBIT | ₹325.53 Cr | +13.83% | |
| Net profit | ₹243.69 Cr | +13.90% | |
| EPS | ₹6.43 | +14.01% | |
| EBIT margin | 12.36% |
P&L walk
Consolidated top line grew 11.0% YoY led by India volume/market expansion, while PAT expanded 13.9% aided by employee cost efficiencies.
Segments
India drove revenue momentum with +18.1% YoY growth to ₹1,852.1 Cr and segment result of ₹234.5 Cr (+11.7% YoY), whereas Europe top-line contracted -2.9% YoY to ₹781.3 Cr though its segment EBIT expanded +19.2% YoY to ₹92.1 Cr.
Key positives
- India segment delivered strong revenue growth of +18.1% YoY to ₹1,852.1 Cr.
- Europe segment profitability improved with PBIT expanding +19.2% YoY to ₹92.1 Cr despite revenue de-growth of -2.9% YoY.
- Consolidated employee expenses reduced by 2.55% YoY, improving employee cost intensity by 141 bps YoY to 10.08% of revenue.
Key concerns
- Consolidated gross margin compressed by 94 bps YoY to 48.43% due to higher raw material consumption costs.
- Europe revenue contracted -2.9% YoY to ₹781.3 Cr and dropped -14.8% QoQ, reflecting sluggish European automotive market volumes.
Research and educational content only. Not investment advice.