CIE Automotive earnings for July–September 2026 showed stronger sales in India but a narrower operating margin, as the auto-parts supplier faced higher costs. Industry estimates cited by the company also point to slower Indian vehicle production growth in early 2027.
Key Takeaways
- Indian sales rose 18.2% to ₹1,801 crore, while the operating margin fell to 16.3% from 17.3%.
- Consolidated revenue from operations increased 11% to ₹2,633.18 crore, and profit after tax rose 13.9% to ₹243.69 crore.
- European sales fell, but the region’s margin improved following restructuring in 2025.
CIE Automotive earnings: India costs rise
The Pune-based supplier’s Indian sales increased from ₹1,523.2 crore to ₹1,801 crore in the September quarter, supported by strong automobile production. EBITDA rose more slowly, from ₹264.2 crore to ₹294 crore.
The company attributed the lower Indian operating margin to higher raw-material, energy and consumable costs arising from the conflict in West Asia. It supplies forgings, castings, gears, stampings and other components to vehicle manufacturers.
| Item | Details |
|---|---|
| India light vehicles, January–March 2027 | Production forecast to grow 5.8% |
| India two-wheelers, January–March 2027 | Production forecast to grow 5%–7% |
| India tractors, January–March 2027 | Production forecast to decline 3%–7% |
| Europe light vehicles, October–December 2026 | Production forecast to decline 2.2% |
| Europe light vehicles, January–March 2027 | Production forecast to decline 3.9% |
Production forecasts point to slower growth
Industry estimates cited in CIE Automotive India’s October 22 investor presentation indicate a sharp moderation in Indian production growth in the first quarter of 2027. The forecasts are industry estimates, not the company’s revenue guidance.
Indian light-vehicle production grew 18.8% in the September quarter, while two-wheeler production rose 16.7%. The outlook for medium and heavy commercial vehicles was also revised lower, although the presentation did not specify a revised growth rate.
European margin improves despite lower sales
European sales declined 3.7% to ₹757.5 crore in the September quarter, from ₹786.6 crore. EBITDA nevertheless rose to ₹123.8 crore from ₹110.6 crore, and the margin improved to 16.3% from 14.1%, reflecting restructuring undertaken in 2025.
The estimates cited by the company forecast further declines in European light-vehicle production in the December quarter of 2026 and the first quarter of 2027.
Next milestone
The company is pursuing a merger of its wholly owned aluminium casting subsidiary into the listed Indian entity, subject to regulatory approvals.
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