Motilal Oswal's research report on CIE Automotive India
CIEINDIA’s 1QCY26 EBITDA/PAT of INR4b/INR2.4b came in ahead of our estimates of INR3.7b/INR2.2b, led by better-than-expected performance, both in India and Europe. India business margins were maintained QoQ despite input cost headwinds. Moreover, the EU business saw better margin expansion post restructuring last year.
Outlook
At CMP, the stock trades at 18.2x/17.1x CY26E/CY27E consolidated EPS. Reiterate BUY with a TP of INR542 (~20x Mar’28E consolidated EPS).
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CIE Automotive India_27042026_Motilal Oswal