1. At a Glance – Spain ka DNA, Indian Cash Machine?
Current Price: ₹469
Market Cap: ₹17,805 Cr
Stock P/E: 21.6
ROCE: 14.7%
ROE: 11.7%
Dividend Yield: 1.49%
3-Month Return: 12.9%
Full Year CY2025 consolidated revenue stands at ₹91,223 Mn (₹9,122 Cr), PAT at ₹8,282 Mn (₹828 Cr), and EBITDA at ₹14,637 Mn (₹1,463 Cr). EBITDA margin? 16%. Net financial debt? Negative ₹18,807 Mn. Yes, negative. Matlab company ke paas cash zyada hai, debt kam.
Q4 CY2025 consolidated sales were ₹23,258 Mn with PAT ₹204 Cr (as per quarterly data). Margins dipped slightly due to one-off labour code impact (~₹132 Mn) and Europe restructuring (~₹200 Mn). Otherwise, business steady.
So here’s the question: Is this a boring forging company… or a quietly compounding multinational auto component beast?
Chalo, microscope nikaalte hain.
2. Introduction – Spanish Parent, Indian Muscle
CIE Automotive India is a subsidiary of Spain-based CIE Automotive Group. Ye koi galli ka vendor nahi hai. This is the Group’s global vehicle for forgings business.
26 manufacturing facilities. Presence in India, Germany, Spain, Lithuania, Italy, Mexico. Customers? Renault, VW, Ford, JLR, BMW, Mahindra, Tata, Maruti, Hyundai. Matlab auto industry ka shaadi ka buffet.
Revenue split CY23:
Business technologies:
- Forgings
- Aluminium castings
- Gears
- Stampings
- Iron castings
- Magnetic products
- Composites
Basically, if your car moves, steers, brakes, or accelerates – there’s a good chance some CIE component is inside.
But here’s the twist: Europe struggled in CY25. India carried the show.
Is this becoming more India-centric? And is that good or risky?
3. Business Model – WTF Do They Even Do?
Simple language mein:
They take metal.
They heat it.
They hammer it.
They machine it.
They ship it.
Forgings (51%
