CIE Automotive India Q3 Results 2024: Date and Time, Share Price and Target

News: CIE Automotive India is a multi-technology automotive components supplier listed on the stock exchanges in Mumbai. As a subsidiary of the CIE Automotive group from Spain, it specializes in providing components and subassemblies for the automotive market. The parent company, CIE Automotive, has a global presence and is also listed on the stock exchange in Madrid.

Date and Time of Announcement

CIE Automotive India, a prominent player in the automotive industry, has recently released its financial results for the third quarter of 2024. The announcement was made on January 12, 2024. Investors and stakeholders eagerly awaited this update to gauge the company’s performance during the specified period.

Subscribe to Sarkari Result to stay informed. Get the latest celebrity news and detailed movie reviews in real-time. Keep up with the constantly changing world of entertainment with Sarkari Exam.

Total Income and Sector Comparison

• Total Income: Despite challenges, CIE Automotive India reported a total income of Rs 1,203.90 crore for Q3 2024. This figure reflects a slight decline of 0.75% compared to the previous quarter. However, it’s essential to consider the broader sector context when analyzing these results.
• Peer Comparison: To put this in perspective, the peer range for total income spans from Rs 0.64 crore to Rs 2,291.76 crore. CIE Automotive India’s performance falls within this range, indicating stability.

Operating Profit and EBIT

• Operating Profit: The company achieved an operating profit of Rs 185.91 crore during Q3 2024. This represents a positive trend, demonstrating the efficiency of its operations.
• EBIT (Earnings Before Interest and Taxes): CIE Automotive India’s EBIT stood at Rs 167.83 crore, reflecting a growth of 21.23% compared to the previous quarter. This robust performance is commendable.

Profit After Tax (PAT)

• PAT: The company’s Profit After Tax for Q3 2024 amounted to Rs 122.87 crore. This figure indicates a 22.41% increase over the previous quarter.

Share Price and Outlook

• Share Price: Investors closely monitor share prices. As of February 14, 2024, CIE Automotive India’s share price was Rs 492.05. The positive results may have contributed to this upward movement.
• Target and Future Prospects: While the Q3 results are encouraging, investors should also consider the company’s long-term prospects. Analysts and experts may provide insights into the target share price and growth trajectory.

About CIE Automotive India :

Business Focus: CIE Automotive India is engaged in the production and sale of automotive components to original equipment manufacturers (OEMs) and other customers both in India and overseas.

Product Range:

The company manufactures a variety of automotive components, including:

• Crankshafts

• Stub axles

• Aluminium castings

• Manifolds

• Turbochargers

• Steering components

• Other forged metal products.

Shareholders:

• Mahindra CIE Automotive Limited, a subsidiary of CIE Automotive S.A., Spain, holds a significant stake in the company.

• Mahindra Vehicle Manufacturing Ltd. is also a shareholder in CIE Automotive India.

Financials:

• The company’s authorized share capital is INR 516.84 crore, with a total paid-up capital of INR 379.36 crore

CIE Automotive India’s Q3 results indicate resilience and adaptability in a dynamic market. As the automotive sector continues to evolve, investors can stay informed by tracking further announcements and expert analyses. Remember, investing decisions should be based on a holistic understanding of the company’s financial health and industry trends.

Disclaimer: Please note that all content and tools on this website are provided for your convenience and are offered “as is” without warranties. The information provided, including any tool-generated output, is for informational purposes only and should not be considered investment advice or guarantees. Exercise caution, seek professional advice, and make independent judgments before acting on any information found on this site.