CIE Automotive India Ltd. share price target

ICICI Securities Ltd | Retail Equity Research Mahindra CIE's (MCI) consolidated revenues for Q1CY16 declined 3.4% YoY to | 1,327 crore (vs. estimate | 1,408 crore). The EBITDA margin...

We recently interacted with the management of Mahindra CIE and came away with the following takeaways: (1) Mahindra Forgings Europe to see margins rebounding with Jeco plant closure expenses now behind, (2) over 150bps...

ICICI Securities Ltd | Retail Equity Research Mahindra CIE's (MCI) consolidated revenue for Q3FY16 was at | 1268 crore (up 1.1% YoY). EBITDA margin contracted 220bps QoQ to 8%...

company took initiatives to exit lowmargin products. EBITDA margin fell 113bps qoq duetooneoffexpensesfromshutteringandshiftingoftheJecoplant. 8 Standalonesegmentdisappointedwitha5%yoygrowth(11%expected)inrevenuesas...

Consolidated PAT increased by 569.5% to `549mn CONSOLIDATED SALES UP BY 0.7% TO 12.7BN: 12.7BN MHCIE's domestic sales (31% of Consolidated sales) declined by 7.1% yoy as production at its key customers (M&M; and Tata Motors) declined by 7.5% yoy.. Going forward we remain cautiously optimistic as its customers (Indian OEMs) are seeing good traction in their recent launches and have a few models lined up for launch. During Q2FY16, its international sales increased by 4.6% in line with German car Industry which grew by...

8 Revenues missed our estimates by 7%, with weakness in standalone and European segments.ThisledtoEBITDAmarginsbeingunderpressure(80bpsqoq) 8 Europeansubsidiariesposted5%yoygrowthinsales,butmissedourestimatesasOEM...

We maintain that MACA will be a major beneficiary of the recovery in domestic/global passenger vehicle/CV sales. With initial fruits of synergy already visible, we believe the partnershipwilldelivermuchmore.OverFY1517,weexpecta14%CAGRinrevenuesand...

Growth opportunities across multiple fronts: Relationship with CIE has opened up new growth avenues for MHCIE in the near future. This includes a) MHCIE's Indian operations likely to used by CIE as a forgings component export hub b) Introduction of CIE Stable products in India through MHCIE c) merging of CIE's remaining forging plants in Brazil, Mexico and China with MHCIE d) CIE's Entry into ASEAN market via further...

Mahindra CIE has transformed from a small player into a global powerhouse after its mergerwithCIEForgings.WeexpectMACAtobeamajorbeneficiaryoftherecoveryin domesticandglobalpassengervehicleandCVsales.Withinitialfruitsofsynergyalready...