CIE Automotive India Q4 profit rises 9.5%; dividend announced

CIE Automotive India, formerly Mahindra CIE Automotive, posted a 9.5% year-on-year (YoY) increase in its net profit for Q4 at ₹184.9 crore, compared to ₹168.9 crore in the same period last year. However, revenue declined by 5.8% to ₹2,109.9 crore from ₹2,240.3 crore YoY, reflecting subdued demand in certain segments.

The company’s EBITDA dropped 8.6% YoY to ₹299.2 crore from ₹327.2 crore, with EBITDA margin contracting slightly to 14.2% from 14.6% in the year-ago period.

Despite the revenue dip, the board has recommended a final dividend of ₹7 per share for FY24, subject to shareholder approval at the upcoming AGM in April. The record date for dividend eligibility has been set for April 23, 2025.

CIE Automotive continues to leverage its global presence across multiple automotive segments, offering components such as chassis parts, steering components, and body-in-white structures.Also read: Too early to gauge Tesla’s impact on Indian auto market: Elara Capital

The company remains focused on operational efficiencies and strategic growth initiatives to navigate evolving market conditions.

Ahead of the earnings announcement, shares of CIE Automotive India closed at ₹430.00 on the BSE, up 1.8% on Thursday.