Cie Automotive India Ltd · NSE:CIEINDIA
Cie Automotive India — Q4 CY2024 Earnings Presentation
50 slides from Cie Automotive India's earnings presentation, Feb 20, 2025
Slide 1: Stock exchange intimation letter for investor presentation
SEC/2025/21 20th February, 2025 BSE Limited National Stock Exchange of India Limited Corporate Relationship Department, Corporate Relationship Department, P. J. Towers, Exchange Plaza, 5th Floor, Dalal Street, Fort, Plot No. C/1, G Block, Mumbai - 400 001. Bandra Kurla Complex, Bandra (E), Mumbai –
Slide 2: Q4 & CY2024 Results Investor Update
Q4 & CY2024 RESULTS INVESTOR UPDATE FEBRUARY 2025 1
Slide 3: Disclaimer
Disclaimer CIE Automotive India Limited, herein referred to as ‘CIE India’ provides a wide array of presentations and reports, with the contributions of various professionals. These presentations and reports are for informational purposes and private circulation only and do not constitute a prospect
Slide 4: Index
INDEX 1. OVERVIEW 2. Q4 CY2024 RESULTS 3. CY2024 RESULTS 4. BALANCE SHEET, CASH FLOW & OTHERS 5. STRATEGY 6. MARKET UPDATE 7. SEBI RESULTS 3
Slide 5: 1. Overview
1. OVERVIEW 4
Slide 6: Overview: Legal Structure as on December 2024
OVERVIEW LEGAL STRUCTURE AS ON 31 DECEMBER 2024 CIE through its subsidiaries 65.71% 100% 100% 100% 100% BF CIE CIE Galfor Precision Aluminium CIE Hosur S.A. Private Casting India Limited Limited# Limited 100% 100% 99.96% 99.81% 100% Bill Forge CIE UAB ClE LT CIE Legazpi Metalcastello de Mexico Forgi
Slide 7: Geography and Technology Sales Contribution
GEOGRAPHY AND TECHNOLOGY SALES CONTRIBUTION COMPOSITES 3% 4% MAGNETICS COMPOSITES MAGNETICS 3% 2% 6% GEARS/ MACHINING INDIA CASTINGS 11% 37% 7% CASTINGS FORGING 9% GEARS/ MACHINING 19% 68%* 21% ALUMINIUM STAMPINGS 13% 16% ALUMINIUM GEARS/ MACHINING CIE INDIA EUROPE GLOBAL 84% 14% FORGING STAMPINGS 5
Slide 8: Plant Locations
PLANT LOCATIONS 68% of overall Sales 32% of overall Sales FORGING STAMPING 1 IN PUNE 2 IN KAHNE (PUNE) 4 IN BANGALORE 1 IN NASHIK HARIDWAR 1 IN HARIDWAR 2 IN RUDRAPUR RUDRAPUR 1 IN COIMBATORE 1 IN ZAHEERABAD PANTNAGAR NAGPUR 1 NAGPUR CASTING RAJKOT AURANGABAD 1 IN PUNE NASHIK ALUMINIUM PUNE 2 IN AUR
Slide 9: 2. Q4 CY2024 Results
2. Q4 CY2024 RESULTS 8
Slide 10: Q4 CY2024 India Results
Q4 CY2024 INDIA RESULTS FINANCIAL UPDATE MARKET UPDATE OCT-DEC 2024 OCT-DEC 2024 ₹ million OCT-DEC 2024 OCT-DEC 2023 JUL-SEP 2024 V/S OCT-DEC 2023 V/S JUL-SEP 2024 Sales 14,522 +4% 13,934 14,707 <6T 3.2% -6.2% EBITDA 2,464 +7% 2,299 2,606 MHCV -22.2% 4.4% % EBITDA / Sales 17.0% 16.5% 17.7% Tractors
Slide 11: Q4 CY2024 Europe Results
Q4 CY2024 EUROPE RESULTS FINANCIAL UPDATE MARKET UPDATE ₹ million OCT-DEC 2024 OCT-DEC 2024 OCT-DEC 2024 OCT-DEC 2023 JUL-SEP 2024 V/S OCT-DEC 2023 V/S JUL-SEP 2024 Sales 5,771 -21% 7,325 5,899 <6T -9.7% 14.5% EBITDA 865 -30% 1,240 942 MHCV -37.5% 7.4% % EBITDA / Sales 15.0% 16.9% 16.0% Source: IHS
Slide 12: Q4 CY2024 Consolidated Results
Q4 CY2024 CONSOLIDATED RESULTS FINANCIAL UPDATE ₹ million OCT-DEC 2024 OCT-DEC 2023 JUL-SEP 2024 Sales 20,292 -5% 21,259 20,606 EBITDA 3,328 -6% 3,539 3,548 % EBITDA / Sales 16.4% 16.6% 17.2% EBIT 2,520 -9% 2,758 2,750 % EBIT / Sales 12.4% 13.0% 13.3% EBT 2,342 -4% 2,452 2,600 % EBT / Sales 11.5% 11
Slide 13: 3. CY2024 Results
3. CY2024 RESULTS 12
Slide 14: CY2024 India Results
CY2024 INDIA RESULTS FINANCIAL UPDATE MARKET UPDATE ₹ million JAN-DEC 2024 JAN-DEC 2023 JAN-DEC 2024 V/S JAN-DEC 2023 Sales 58,079 +5% 55,310 <6T 3.8% EBITDA 10,368 +12% 9,227 MHCV -11.8% % EBITDA / Sales 17.9% 16.7% Tractors -0.4% EBIT 8,120 +14% 7,093 % EBIT / Sales 14.0% 12.8% 2 Wheelers 16.0% EB
Slide 15: CY2024 Europe Results
CY2024 EUROPE RESULTS FINANCIAL UPDATE MARKET UPDATE ₹ million JAN-DEC 2024 JAN-DEC 2023 JAN-DEC 2024 V/S JAN-DEC 2023 Sales 28,216 -14% 32,811 <6T -6.2% EBITDA 4,534 -22% 5,832 MHCV -25.9% % EBITDA / Sales 16.1% 17.8% EBIT 3,476 -27% 4,744 Source: IHS Global (Europe without Russia). % EBIT / Sales
Slide 16: CY2024 Consolidated Results
CY2024 CONSOLIDATED RESULTS FINANCIAL UPDATE ₹ million JAN-DEC 2024 JAN-DEC 2023 Sales 86,295 -2% 88,120 EBITDA 14,902 -1% 15,059 % EBITDA / Sales 17.3% 17.1% EBIT 11,596 -2% 11,837 % EBIT / Sales 13.4% 13.4% EBT 10,847 +1% 10,758 % EBT / Sales 12.6% 12.2% PAT 8,275 -26% 11,251 % PAT / Sales 9.6% 12
Slide 17: 4. Balance Sheet, Cash Flow & Other Details
4. BALANCE SHEET, CASH FLOW & OTHER DETAILS 16
Slide 18: Consolidated Balance Sheet
CONSOLIDATED BALANCE SHEET AS ON 31 DECEMBER 2024 ₹ million 31 DEC 2024 31 DEC 2023 Fixed assets 59,697 59,026 Net Working Capital (1,254) (3,467) TOTAL NET ASSETS 58,443 55,559 Equity 65,768 59,880 Net Financial Debt (12,022) (8,252) Others (net) 4,697 3,931 TOTAL EQUITY AND LIABILITIES 58,443 55,5
Slide 19: Consolidated Cash Flow and NFD
CONSOLIDATED CASH FLOW AND NFD AS ON 31 DECEMBER 2024 ₹ million 31 DEC 2024 EBITDA 14,902 Financial (749) Maintenance CAPEX (1,797) Tax Payment (2,475) OPERATING CASH FLOW 9,881 % EBITDA 66% Growing CAPEX (2,104) Working Capital Variation (2,116) Dividend Distribution (1,897) Others 6 FINANCIAL CASH
Slide 20: Other Details
OTHER DETAILS OTHER OPERATING REVENUE, OTHER INCOME AND EXCHANGE RATES Q4 CY2024 CY2024 ₹ million INDIA EUROPE CONSOLIDATED INDIA EUROPE CONSOLIDATED OTHER OPERATING REVENUE 638 169 808 2,464 882 3,346 OTHER INCOME 259 77 336 1,234 162 1,396 EXCHANGE RATES PERIOD ₹/€ Average for Q4 CY2024 90.11 Aver
Slide 21: 5. Strategy Update
5. STRATEGY UPDATE 20
Slide 22: Strategic Approach
STRATEGIC APPROACH SHORT & MEDIUM TERM STRATEGY BY GEOGRAPHY • Light vehicles: Negative growth in C24 & C25 MARKET Short Term • Light Vehicles : Steady single digit growth after a • European CV and US Off-Road market both have large period of strong growth declines • 2W: Growth revival after a perio
Slide 23: Performance Trends: Focused on Profitability
PERFORMANCE TRENDS FOCUSED ON PROFITABILITY EBIT 13.40% 13.40% PAT* 4% 11.80% 7,976 8,275 11.00% 18% 6,735 9.00% 65% 4,086 283% 1,066 CY 20 CY 21 CY 22 CY 23 CY 24 CY 20 CY 21 CY 22 CY 23 CY24 RONA 21.30% 19.80% 17.90% 11.00% 3.70% CY 20 CY 21 CY 22 CY 23 CY24 *PAT on continued operations excluding
Slide 24: Performance Trends: Share Price Indexed from January 2015
PERFORMANCE TRENDS SHARE PRICE INDEXED FROM 01 JANUARY 2015 CIE INDIA Share Price (₹) Performance over the period PERIOD HIGH LOW CIE INDIA NIFTY 50 INDEX NIFTY AUTO INDEX 6 Month (1st July – 31st Dec 2024) 590.90 455.00 -20.0% -5.2% -14.4% 12 Month (1st Jan – 31st Dec 2024) 619.00 419.20 0.0% 8.8%
Slide 25: 6. Market Update
6. MARKET UPDATE 24
Slide 26: Market Production Numbers: India
MARKET PRODUCTION NUMBERS INDIA MARKET: KEY SEGMENTS UPDATE - QUARTERLY <6T Vehicles** MHCV Tractors Two Wheelers PERIOD Million Units Δ% Units Δ% Units Δ% Units Δ% CY2024 5.65 3.8 370,828 -11.8 982,146 -0.4 23,561,393 16.0 Q4 CY2024 1.34 3.2 92,774 -22.2 219,211 12.1 5,917,177 8.0 Q3 CY2024 1.42 -2
Slide 27: Market Outlook - India
MARKET OUTLOOK- INDIA • Passenger Vehicles Light Vehicles (less than 6 Tons – European Classification) Short Term: IHS forecasts production growth at a 5.8% between CY2024- CY 2025. Long term: IHS forecasts production growth at a CAGR of 4.6% over a period of 2024-2029. • MHCVs: Short Term: IHS* for
Slide 28: Market Production Numbers: Europe
MARKET PRODUCTION NUMBERS EUROPE MARKET: KEY SEGMENT UPDATE - QUARTERLY <6T Vehicles MHCV PERIOD Million Units Δ% Units Δ% CY2024 15.75 -6.2 435,278 -25.9 Q4 CY2024 3.89 -9.7 97,540 -37.5 Q3 CY2024 3.40 -6.0 90,853 -31.8 Q2 CY2024 4.15 -5.8 116,340 -22.1 Q1 CY2024 4.30 -3.3 130,545 -12.4 Source: IHS
Slide 29: Market Outlook - Europe
MARKET OUTLOOK - EUROPE • EU(w/o Russia) – Light Vehicles: ‒ IHS Global has forecasted that the Light Vehicle production will decrease in CY25 by 4.8% as compared to CY24. ‒ and will grow at CAGR of 0.7% between CY24 to CY29. • EU(w/o Russia) – MHCV*: ‒ IHS Global has forecasted that the MHCV produc
Slide 30: 7. SEBI Format
7. SEBI FORMAT 29
Slide 31: CIE India Standalone - Statement of Profit & Loss
CIE INDIA STANDALAONE - STATEMENT OF PROFIT & LOSS 30
Slide 32: CIE India Standalone - Statement of Profit & Loss (Cont'd)
CIE INDIA STANDALAONE - STATEMENT OF PROFIT & LOSS (CONT’D) 31
Slide 33: CIE India Standalone - Statement of Balance Sheet
CIE INDIA STANDALAONE - STATEMENT OF BALANCE SHEET 32
Slide 34: CIE India Standalone - Statement of Balance Sheet (Cont'd)
CIE INDIA STANDALAONE - STATEMENT OF BALANCE SHEET (CONT’D) 33
Slide 35: CIE India Standalone - Statement of Cash Flow
CIE INDIA STANDALAONE - STATEMENT OF CASH FLOW 34
Slide 36: CIE India Standalone - Statement of Cash Flow (Cont'd)
CIE INDIA STANDALAONE - STATEMENT OF CASH FLOW (CONT’D) 35
Slide 37: Notes to Accounts - Standalone
NOTES TO ACCOUNTS - STANDALONE 36
Slide 38: CIE India Consolidated - Statement of Profit & Loss
CIE INDIA CONSOLIDATED - STATEMENT OF PROFIT & LOSS 37
Slide 39: CIE India Consolidated - Statement of Profit & Loss (Cont'd)
CIE INDIA CONSOLIDATED - STATEMENT OF PROFIT & LOSS (CONT’D) 38
Slide 40: CIE India Consolidated - Statement of Profit & Loss (Cont'd)
CIE INDIA CONSOLIDATED - STATEMENT OF PROFIT & LOSS (CONT’D) 39
Slide 41: CIE India Consolidated - Statement of Balance Sheet
CIE INDIA CONSOLIDATED - STATEMENT OF BALANCE SHEET 40
Slide 42: CIE India Consolidated - Statement of Balance Sheet (Cont'd)
CIE INDIA CONSOLIDATED - STATEMENT OF BALANCE SHEET (CONT’D) 41
Slide 43: CIE India Consolidated - Statement of Cash Flow
CIE INDIA CONSOLIDATED - STATEMENT OF CASH FLOW 42
Slide 44: CIE India Consolidated - Statement of Cash Flow (Cont'd)
CIE INDIA CONSOLIDATED - STATEMENT OF CASH FLOW (CONT’D) 43
Slide 45: CIE India Consolidated - Segment Result
CIE INDIA CONSOLIDATED – SEGMENT RESULT 44
Slide 46: CIE India Consolidated - Segment Assets and Liabilities
CIE INDIA CONSOLIDATED – SEGMENT ASSETS AND LIABILITIES 45
Slide 47: Notes to Accounts - Consolidated
NOTES TO ACCOUNTS - CONSOLIDATED 46
Slide 48: Notes to Accounts - Consolidated (Cont'd)
CONT’D … NOTES TO ACCOUNTS – CONSOLIDATED The Group had recognised loss on fair valuation of disposal group of INR 1,536.45 during the year ended December 31, 2023. Brief details of the discontinuing operations are as given under:- Rs. in Million Quarter Ended Year ended Particulars 31 December 2024
Slide 49: Notes Cont'd: Annexure A - Subsidiaries
NOTES CONT’D... Annexure A - Subsidiaries forming part of the CIE Automotive India Limited (CIE-India) Group (formerly known as Mahindra CIE Automotive Limited) and its Associate Companies S. No. Name of the entity Relationship % of Holding 31 December 2024 Country of Incorporation Stokes Group Limi
Slide 50: Thank You
CIE India THANK YOU
CIE Automotive India — Q4 CY2024 Earnings Presentation on 6ix