CIE Automotive India Ltd - Stock Valuation and Financial Performance

BSE: 532756 | NSE: CIEINDIA | Forgings | Small Cap

CIE Automotive India Share Price

598.60 -5.70 -0.94%
as on 12-Jul'24 16:01

DeciZen - make an informed investing decision on CIE Automotive India

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

CIE Automotive India stock performance -

mw4me loader
P/E Ratio (CD):
21.08
Market Cap:
22,697.3 Cr.
52-wk low:
401
52-wk high:
628.5

Is CIE Automotive India Ltd an attractive stock to invest in?

1. Is CIE Automotive India Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that CIE Automotive India Ltd is a average quality company.

2. Is CIE Automotive India Ltd undervalued or overvalued?

The key valuation ratios of CIE Automotive India Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is CIE Automotive India Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of CIE Automotive India Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray of CIE Automotive India:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
CIE Automotive India Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'15Dec'15Dec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23TTM
ROCE % 4.6%5%5.5%8.5%10.8%6.6%2.1%6.6%11.2%13.6%-
Value Creation
Index
-0.7-0.6-0.6-0.4-0.2-0.5-0.9-0.5-0.20.0-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 5,5705,1545,3206,4288,0327,9086,0506,7658,7539,2809,267
Sales YoY Gr.--7.5%3.2%20.8%25%-1.5%-23.5%11.8%29.4%6%-
Adj EPS 0.95.34.59.814.49.42.510.6182128.4
YoY Gr.-524.7%-14.9%117.3%46.8%-34.7%-73.8%330.4%69.6%16.7%-
BVPS (₹) 58.382.786.297.9113.1122.2129.4137134.4157.8163.9
Adj Net
Profit
27.517217137154635793.74036847981,077
Cash Flow from Ops. 3229063045127081,0275391,0511,1181,383-
Debt/CF from Ops. 4.81.64.62.32.31.43.11.20.80.6-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 5.8%2.9%15.3%6%
Adj EPS 42.8%7.9%104.2%16.7%
BVPS11.7%6.9%6.9%17.4%
Share Price 14.7% 22.8% 37.2% 9.9%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Dec'15Dec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23TTM
Return on
Equity %
2.26.66.510.613.782813.314.417.6
Op. Profit
Mgn %
7.99.41012.713.112.28.313.913.415.415.2
Net Profit
Mgn %
0.53.33.25.86.84.51.667.88.611.6
Debt to
Equity
0.80.50.40.30.40.30.30.30.20.1-
Working Cap
Days
6613611412011110813112510710769
Cash Conv.
Cycle
5-21-33-21-52110-6-12-2

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 17.60%

Sales growth is growing at healthy rate in last 3 years 15.33%

Net Profit is growing at healthy rate in last 3 years 104.23%

Sales growth is not so good in last 4 quarters at 1.53%

Latest Financials - CIE Automotive India Ltd.

Standalone Consolidated
TTM EPS (₹) 15.1 28.4
TTM Sales (₹ Cr.) 4,592 9,267
BVPS (₹.) 135.9 163.9
Reserves (₹ Cr.) 4,778 5,838
P/BV 4.40 3.65
PE 39.70 21.08
From the Market
52 Week Low / High (₹) 401.00 / 628.45
All Time Low / High (₹) 35.35 / 628.45
Market Cap (₹ Cr.) 22,697
Equity (₹ Cr.) 379.4
Face Value (₹) 10
Industry PE 46.8

Management X-Ray of CIE Automotive India:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of CIE Automotive India

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Dec'15Dec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23
Sales5,5703,8655,3206,4288,0327,9086,0506,7658,7539,280
Operating Expenses 5,1283,5024,7895,6146,9816,9405,5495,8237,5817,856
Manufacturing Costs1,0107921,1921,2441,5781,4201,1761,1751,5461,600
Material Costs2,5611,7262,1442,8163,6323,7492,8063,3354,7764,911
Employee Cost 1,1878011,1031,1531,3301,3081,262926902994
Other Costs 371182350401441463304387356351
Operating Profit 4423635318141,0519685029421,1721,424
Operating Profit Margin (%) 7.9%9.4%10.0%12.7%13.1%12.2%8.3%13.9%13.4%15.3%
Other Income 43293127393355475882
Interest 1215059515052553523107
Depreciation 238163233268287316306273296322
Exceptional Items -226-78-9-70-50-13380
Profit Before Tax -1001012625157536281956699511,076
Tax -22249314820427489273240278
Profit After Tax -7877169367549354107396711798
PAT Margin (%) -1.4%2.0%3.2%5.7%6.8%4.5%1.8%5.9%8.1%8.6%
Adjusted EPS (₹)-2.42.44.59.513.29.32.810.4-3.629.7
Dividend Payout Ratio (%)0%0%0%0%0%0%0%24%-70%17%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Dec'15Dec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23

Equity and Liabilities

Shareholders Fund 1,8842,0053,2593,7054,2834,6304,9045,1945,0985,988
Share Capital 323323378378379379379379379379
Reserves 1,5611,6822,8813,3273,9044,2514,5254,8144,7195,609
Minority Interest16000000000
Debt1,5181,0631,3621,1971,6131,4691,6481,282923803
Long Term Debt1,4237529331,0171,173826937652119101
Short Term Debt95311430180440644710629805702
Trade Payables1,0481,3991,5261,5741,6841,4771,4591,9392,1351,934
Others Liabilities 3885335218607489871,3531,4071,7631,027
Total Liabilities 4,8535,0006,6687,3368,3288,5639,3649,8219,9209,753

Fixed Assets

Gross Block6,5753,4355,0255,8656,3297,7739,3568,9098,7978,492
Accumulated Depreciation3,4511425089201,2221,7302,3882,3233,2512,681
Net Fixed Assets3,1243,2934,5174,9445,1076,0446,9686,5875,5475,810
CWIP 12656976096541212511954
Investments 5767395568196234438576821
Inventories6857198359901,2291,0571,0061,3491,2111,163
Trade Receivables423383522598741737705669861633
Cash Equivalents 8950987211315023816086239
Others Assets3494325606163614261994951,5201,033
Total Assets 4,8535,0006,6687,3368,3288,5639,3649,8219,9209,753

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Dec'15Dec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23
Cash Flow From Operating Activity 3226803045127081,0275391,0511,1181,383
PBT -1001012625077026281956651111,456
Adjustment 5532192903333273603183551,215316
Changes in Working Capital -110386-188-219-17715676137-10-31
Tax Paid -21-26-59-108-144-116-50-105-198-358
Cash Flow From Investing Activity -184-225-831-308-1,019-590-429-755-640-910
Capex -208-230-170-300-404-414-302-478-443-512
Net Investments 1400-18-620584-134-200-147-141
Others 105-661105-7606-77-49-257
Cash Flow From Financing Activity -294-494575-236362-404-38-363-488-427
Net Proceeds from Shares 934537630141
Net Proceeds from Borrowing 0000000-279-39440
Interest Paid -122-34-59-55-53-53-55-46-38-104
Dividend Paid 00000000-95-95
Others -180-463182-188409-35517-3935-269
Net Cash Flow -155-3948-32513372-67-946
PARTICULARSMar'15Dec'15Dec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23
Ratios
ROE (%)-6.173.956.4210.5313.737.942.247.8413.8214.39
ROCE (%)0.874.638.2811.8314.8511.333.9510.815.5918.47
Asset Turnover Ratio1.690.810.950.941.030.940.680.710.890.94
PAT to CFO Conversion(x)N/A8.831.81.41.292.95.042.651.571.73
Working Capital Days
Receivable Days19373031303444373229
Inventory Days33645151505362645347
Payable Days92254247200163152185178149144

CIE Automotive India Ltd Stock News

CIE Automotive India Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of CIE Automotive India on 12-Jul-2024 16:01 is ₹598.6.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 12-Jul-2024 16:01 the market cap of CIE Automotive India stood at ₹22,697.3.
The latest P/E ratio of CIE Automotive India as of 12-Jul-2024 16:01 is 39.70.
The latest P/B ratio of CIE Automotive India as of 12-Jul-2024 16:01 is 4.40.
The 52-week high of CIE Automotive India is ₹628.5 and the 52-week low is ₹401.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of CIE Automotive India is ₹4,592 ( Cr.) .

About CIE Automotive India Ltd

Mahindra CIE Automotive is a multi-technology automotive components supplier listed on the stock exchanges in Mumbai. The company is a subsidiary of the CIE Automotive group of Spain; an industrial group specialised in supplying components and subassemblies for the automotive market, which has presence across the globe and is listed on the stock exchanges in Madrid and Bilbao.

Business area of company

Mahindra CIE is engaged in the business of production and sale of automotive components to original equipment manufacturers and other customers (including leading suppliers of components) in India and overseas. The company has manufacturing facilities in various locations across the country in India. The company has an established presence in each of these locations and supplies automotive components to its customers based there and exports products to customers based in other countries as well.

Product range of the company

Forging products: It is leader in the Indian forgings space, it makes forging products that range in weight from 500 grams to 45 kilograms, and measure up to a metre in length. In Europe, we are a leading supplier to the heavy truck industry, forging parts in excess of 100 kilograms. Its advanced facility in Chakan, Pune, supplies forged components to several companies in the automotive and non-automotive industries.

Castings: Created in factories that are ISO/TS 16949-certified, its magnetic products are used in an array of commercial and industrial sectors. Its soft ferrite cores power day-to-day products such as induction cooktops to mobile chargers, while its ferrite impeder cores increase the efficiency of welding processes. Furthermore, it also lead the industry in magnetic induction lighting, a cost-effective and energy-efficient solution that is used in a variety of end-applications.

Magnetic products: Mahindra’s magnetic products are used in an array of commercial and industrial sectors. Its soft ferrite cores power day-to-day products such as induction cooktops to mobile chargers, while its ferrite impeder cores increase the efficiency of welding processes. Furthermore, it also lead the industry in magnetic induction lighting, a cost-effective and energy-efficient technology in a variety of applications.

Composites: An innovative replacement for conventional materials, its composites are non-corrosive, possess high mechanical strength, and provide a number of compelling benefits in automotive and medical applications.

Stamping Products: With robotic automated presses and a new fully automated facility, it supply comprehensive body-and-chassis systems

Business segments

  • Cars & Utility Vehicles
  • Medium and Heavy Commercial Vehicles
  • Agriculture & Off Road
  • Two Wheelers

Milestones

  • 1996: Plant established in 1996 by Amforge. 
  • 2004: TS - 16949 Awarded by BVQI   
  • 2005: TS - 16949 Certification obtained. Amforge, Chakan Unit becomes a part of the Mahindra & Mahindra Group. 
  • 2006: Received Best Supplier Award from Benteler USA   Acquired Vauxhall machining lines from GM, UK   Plant Acquired by M&M    Received Best Supplier Award from FIAT  
  • 2007: Two steering knuckle machining line installed - 150K per annum installed Two crankshaft machining lines installed - 120K per annum
  • 2008: Tool and Die Shop Installed
  • 2009: MFL was qualified by Nissan for Monozukuri Audit.   MFL was qualified by Renault for ASES audit. Doubled the installed capacity from 40000 MT to 86000 MT by setting up two 4000 Ton Presses & one 6300 Ton Press
  • 2010: Received New Product Development Award from Volvo Eicher    Received Best Supplier Award from Kirloskar Oil Engines Ltd. (KOEL)
  • 2011: Third crankshaft machining line installed New MAKINO installed at Tool Room for Die production
  • 2017: Jesus M Herrera, Chosen by Forbes as one of the best CEO of 2016
  • 2019-20: The company acquired Aurangabad Electricals (AEL) and entered the Aluminium Die casting technology
  • 2021: Mahindra CIE Automotive subscribes 31.20% stake in ReNew Surya Alok
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