Conference Call with CIE Automotive India Management and Analysts on Q3CY23 Performance and Outlook. Listen to the full earnings transcript.
Auto Parts & Equipments company CIE Automotive India announced Q3CY23 results: 1: Company Performance - CIE India reported a revenue of Rs 14,393 million in Q3CY23, showing a 1% increase compared to the same period last year. - The EBITDA for Q3CY23 was Rs 2,405 million, representing a 12% growth from the previous year. - The company achieved a steady EBITDA margin of 16.7% during Q3CY23. - CIE India recorded a net profit of Rs 1,746 million in Q3CY23, a growth of 13% compared to the previous year. 2: Market Update - The Indian market witnessed a mixed performance in Q3CY23. While the <6T and MHCV segments showed growth, the tractor and two-wheeler segments faced challenges. - The European market saw positive revenue growth, with a 7% increase in sales during Q3CY23 compared to the previous year. - Both the Indian and European markets are expected to grow in the coming years, with positive projections for various industry segments. 3: Financial Outlook - CIE India's financial performance remained strong in Q3CY23, with a recurrent EBITDA margin of around 17%. - The company expects its Indian and European businesses to continue performing well, with stable growth and positive market expectations. - The overall market outlook shows a growth potential for all business verticals, including the Indian automotive industry. Result PDF