Invest
Auto Parts & Equipments company CIE Automotive India announced Q3CY23 results:
1: Company Performance
- CIE India reported a revenue of Rs 14,393 million in Q3CY23, showing a 1% increase compared to the same period last year.
- The EBITDA for Q3CY23 was Rs 2,405 million, representing a 12% growth from the previous year.
- The company achieved a steady EBITDA margin of 16.7% during Q3CY23.
- CIE India recorded a net profit of Rs 1,746 million in Q3CY23, a growth of 13% compared to the previous year.
2: Market Update
- The Indian market witnessed a mixed performance in Q3CY23. While the <6T and MHCV segments showed growth, the tractor and two-wheeler segments faced challenges.
- The European market saw positive revenue growth, with a 7% increase in sales during Q3CY23 compared to the previous year.
- Both the Indian and European markets are expected to grow in the coming years, with positive projections for various industry segments.
3: Financial Outlook
- CIE India's financial performance remained strong in Q3CY23, with a recurrent EBITDA margin of around 17%.
- The company expects its Indian and European businesses to continue performing well, with stable growth and positive market expectations.
- The overall market outlook shows a growth potential for all business verticals, including the Indian automotive industry.
FAQ’s on CIE Automotive India Ltd Shares
