CIE Automotive India (532756) Q3 2026 earnings summary

Executive summary

• Q3 CY26 consolidated Sales were INR 25,585M, up 11% YoY; EBITDA was INR 4,178M and EBIT INR 3,249M, up 11% and 14%, respectively.

• 9M CY2026 Sales rose 12% to INR 76,427M and PAT grew 17% to INR 7,287M; Indian growth and European margin recovery supported results.

• Consolidated revenue from operations, a separate reported basis, was INR 26,331.80M in Q3 and INR 78,656.83M for 9M CY2026.

Financial highlights

• Consolidated Q3 PAT was INR 2,436.86M versus INR 2,139.38M YoY; 9M PAT was INR 7,286.67M versus INR 6,238.67M.

• 9M consolidated EBITDA rose 15% to INR 12,664M, EBIT increased 17% to INR 9,820M and EBT rose 16% to INR 9,614M.

• Standalone Q3 revenue was INR 14,059.00M and PAT INR 1,532.70M; 9M revenue was INR 40,626.87M and PAT INR 5,359.14M.

• Consolidated Q3 PBT from continuing operations was INR 3,215.68M; 9M PBT was INR 9,614.10M.

Outlook and guidance

• India growth is expected to moderate as GST-cut benefits fade; most segments are expected to remain healthy, with tractors weaker. Q4 estimates: Light Vehicles -0.5%, Two Wheelers +5–7% and Tractors -3% to -7%.

• European demand is expected to remain flat; Q4 and Q1 CY2027 Light Vehicle estimates are -2.2% and -3.9%, while MHCV estimates are +0.5% and +6.8%.

• The delayed Ford foundry project began deliveries in October and is expected to ramp up, reaching full Urse plant utilization by mid-2027.

• Discussions on non-raw-material cost pass-throughs were ongoing, with agreements targeted with all customers by year-end.