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Last Updated on: 03 December, 2024
Author: Getaka|Social: Getaka Financial Technology X (Earlier Twitter) Profile Getaka Financial Technology LinkedIn Logo
Stock Ticker - BSE: 532756 | NSE: CIEINDIA

CIE Automotive India Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: December 3, 2024, 8:40 pm

Market Cap 18,191 Cr.
Current Price 480
High / Low628/401
Stock P/E22.2
Book Value 163
Dividend Yield1.04 %
ROCE18.3 %
ROE20.3 %
Face Value 10.0
PEG Ratio0.39

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for CIE Automotive India Ltd

Competitors of CIE Automotive India Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Happy Forgings Ltd 10,390 Cr. 1,1021,300/81340.1 1820.36 %22.7 %18.7 % 2.00
EL Forge Ltd 68.0 Cr. 33.535.2/9.1527.6 11.60.00 %%% 10.0
CIE Automotive India Ltd 18,191 Cr. 480628/40122.2 1631.04 %18.3 %20.3 % 10.0
Amforge Industries Ltd 16.4 Cr. 11.417.2/6.95 8.930.00 %3.55 %3.17 % 2.00
Tirupati Forge Ltd 507 Cr. 48.955.4/12.255.0 5.320.00 %18.3 %15.0 % 2.00
Industry Average14,040.00 Cr430.80165.23143.700.30%12.37%15.20%5.92

All Competitor Stocks of CIE Automotive India Ltd

Quarterly Result

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
Sales2,0911,6692,0612,2162,2292,2472,4402,3202,2792,2402,4272,2932,135
Expenses1,8221,4891,7801,9101,9361,9542,0601,9501,9341,9132,0661,9331,804
Operating Profit268180280306293292381370345327361360331
OPM %13%11%14%14%13%13%16%16%15%15%15%16%15%
Other Income7881517-7907510820918523227
Interest1394011824223130222117
Depreciation83667275737783837878868480
Profit before tax179113213246227-582349372445237304287260
Tax %7%29%24%23%24%13%20%19%16%29%24%24%25%
Net Profit16680161189171-658279302375169230217195
EPS in Rs4.392.124.264.984.52-17.347.367.959.904.456.085.725.15

Last Updated: November 6, 2024, 7:02 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023TTM
Sales2,2162,5915,5704,0015,3206,4288,0327,9086,0506,7658,7539,2809,239
Expenses2,1732,4825,1283,6384,7895,6227,0316,9405,5485,8237,5817,8567,846
Operating Profit431094423635318061,0019685029421,1721,4241,393
OPM %2%4%8%9%10%13%12%12%8%14%13%15%15%
Other Income34-183-49222039285532-749409311
Interest49631215059515052553523107104
Depreciation110120238163232268287316306273296322326
Profit before tax-114-70-1001012625077026281956661041,4031,273
Tax %-0%17%-22%24%35%29%29%44%45%41%231%20%
Net Profit-114-81-7877169358498354106393-1361,125992
EPS in Rs-12.36-8.82-2.422.374.479.4713.159.332.8110.37-3.5929.6626.15
Dividend Payout %0%0%0%0%0%0%0%0%0%24%-70%17%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-2016
YoY Net Profit Growth (%)28.95%195.06%316.67%
Change in YoY Net Profit Growth (%)0.00%191.36%121.60%

CIE Automotive India Ltd has shown a consistent positive trend in YoY Net Profit Growth (%) in the last 3 years from 2013-2014 to 2015-2016.

Growth

Compounded Sales Growth
10 Years:15%
5 Years:3%
3 Years:15%
TTM:-2%
Compounded Profit Growth
10 Years:28%
5 Years:18%
3 Years:127%
TTM:7%
Stock Price CAGR
10 Years:8%
5 Years:26%
3 Years:26%
1 Year:-3%
Return on Equity
10 Years:8%
5 Years:8%
3 Years:9%
Last Year:20%

Last Updated: Unknown

Balance Sheet

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Jun 2024
Equity Capital9292323323378378379379379379379379379
Reserves6625641,5641,6832,8883,3373,9104,2554,5294,8184,7195,6095,816
Borrowings6847341,5491,0851,3921,1971,6131,4691,6481,487985855481
Other Liabilities5096211,5152,0522,1772,5872,5822,4602,8083,1373,8372,9093,006
Total Liabilities1,9472,0114,9515,1436,8357,4998,4848,5639,3649,8219,9209,7539,683
Fixed Assets1,1591,2113,1243,2934,5174,7504,9056,0446,7416,5875,5475,8105,709
CWIP512912656976096541212511954155
Investments41585767395568196234438576821533
Other Assets6957131,6431,7272,1822,6342,8022,3702,3762,6713,6783,0683,286
Total Assets1,9472,0114,9515,1436,8357,4998,4848,5639,3649,8219,9209,7539,683

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023
Cash from Operating Activity +1022113226803045127081,0275391,0511,1181,383
Cash from Investing Activity +-102-88-184-225-831-303-1,017-589-422-762-637-905
Cash from Financing Activity +19-116-294-494575-236362-404-38-363-488-427
Net Cash Flow197-155-3948-26533480-74-651

Free Cash Flow

MonthDec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Mar 2013Mar 2014Mar 2015
Free Cash Flow362.00530.00805.000.00967.00501.00941.00-984.00-854.00-641.00-625.00441.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023
Debtor Days442328353634343443363625
Inventory Days110126981521421281231031311489386
Days Payable8793149296260204169144190212163144
Cash Conversion Cycle6756-24-109-82-42-12-7-16-28-35-32
Working Capital Days3416-3-45-18-102-1-1-9-0-10
ROCE %-4%0%10%10%8%12%14%11%4%11%15%18%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
Promoters72.19%72.17%74.87%74.96%74.96%68.90%65.70%65.70%65.70%65.70%65.70%65.70%
FIIs10.36%10.66%6.85%7.26%7.29%8.62%7.54%6.61%5.63%5.11%5.03%4.32%
DIIs7.78%7.39%8.10%7.66%7.47%11.19%14.75%15.40%15.98%18.12%19.45%20.33%
Government0.00%0.00%0.00%0.00%0.00%0.01%0.02%0.03%0.03%0.04%0.04%0.04%
Public9.68%9.78%10.17%10.09%10.29%11.26%11.96%12.26%12.66%11.03%9.78%9.60%
No. of Shareholders74,87780,01684,47989,95596,5701,09,3321,13,7251,18,9201,36,3851,34,1851,24,0461,25,648

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Axis Small Cap Fund7,144,8611.73329.951,834,4332024-11-30289.49%
Nippon India Small Cap Fund6,966,7840.7321.731,834,4332024-11-30279.78%
Nippon India Multi Cap Fund4,986,3320.83230.271,834,4332024-11-30171.82%
HDFC Flexi Cap Fund - Regular Plan3,850,6210.35177.821,834,4332024-11-30109.91%
HDFC Multi Cap Fund2,729,5301.02126.051,834,4332024-11-3048.79%
Aditya Birla Sun Life Multi-Cap Fund2,042,9661.8194.341,834,4332024-11-3011.37%
Canara Robeco Small Cap Fund1,834,4330.984.711,834,4332024-11-300%
HDFC Large and Mid Cap Fund - Regular Plan1,606,5250.4374.191,834,4332024-11-30-12.42%
Aditya Birla Sun Life MNC Fund - Div1,269,5341.6858.631,834,4332024-11-30-30.79%
Aditya Birla Sun Life MNC Fund - Gr1,269,5341.6858.631,834,4332024-11-30-30.79%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthDec 23Dec 22Dec 21Dec 20Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)29.66-3.5910.362.802.80
Diluted EPS (Rs.)29.66-3.5910.362.802.80
Cash EPS (Rs.)38.164.1619.3810.8910.89
Book Value[Excl.RevalReserv]/Share (Rs.)157.84134.42137.08129.50129.50
Book Value[Incl.RevalReserv]/Share (Rs.)157.84134.42137.08129.50129.50
Revenue From Operations / Share (Rs.)244.63230.77221.23159.63159.63
PBDIT / Share (Rs.)39.7032.4328.3014.6814.68
PBIT / Share (Rs.)31.2024.6219.256.606.60
PBT / Share (Rs.)28.3725.0217.515.155.15
Net Profit / Share (Rs.)29.67-3.6510.332.812.81
NP After MI And SOA / Share (Rs.)29.66-3.5910.362.812.81
PBDIT Margin (%)16.2214.0512.799.199.19
PBIT Margin (%)12.7510.678.704.134.13
PBT Margin (%)11.5910.847.913.223.22
Net Profit Margin (%)12.12-1.584.671.751.75
NP After MI And SOA Margin (%)12.12-1.554.681.751.75
Return on Networth / Equity (%)18.79-2.677.562.162.16
Return on Capital Employeed (%)17.7716.0710.703.693.69
Return On Assets (%)11.52-1.373.941.111.11
Long Term Debt / Equity (X)0.010.020.120.190.19
Total Debt / Equity (X)0.130.180.240.330.33
Asset Turnover Ratio (%)0.940.550.440.3163.57
Current Ratio (X)1.010.950.910.900.90
Quick Ratio (X)0.630.650.480.530.53
Inventory Turnover Ratio (X)4.092.672.381.476.01
Dividend Payout Ratio (NP) (%)8.42-69.600.000.000.00
Dividend Payout Ratio (CP) (%)6.5559.250.000.000.00
Earning Retention Ratio (%)91.58169.600.000.000.00
Cash Earning Retention Ratio (%)93.4540.750.000.000.00
Interest Coverage Ratio (X)14.0354.1920.1710.164.56
Interest Coverage Ratio (Post Tax) (X)8.4330.578.602.952.95
Enterprise Value (Cr.)18419.3013879.6310030.957920.724037.87
EV / Net Operating Revenue (X)1.981.591.201.310.66
EV / EBITDA (X)12.2311.289.3514.237.26
MarketCap / Net Operating Revenue (X)1.921.491.061.080.43
Retention Ratios (%)91.57169.600.000.000.00
Price / BV (X)2.982.561.711.330.53
Price / Net Operating Revenue (X)1.921.491.061.080.43
EarningsYield0.06-0.010.040.010.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of CIE Automotive India Ltd as of December 3, 2024 is: 742.22

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of December 3, 2024, CIE Automotive India Ltd is Undervalued by 54.63% compared to the current share price 480.00

Intrinsic Value of CIE Automotive India Ltd as of December 3, 2024 is: 1,159.54

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of December 3, 2024, CIE Automotive India Ltd is Undervalued by 141.57% compared to the current share price 480.00

Last 5 Year EPS CAGR: 56.23%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a low average Working Capital Days of -3.75, which is a positive sign.
  2. The stock has a low average Cash Conversion Cycle of -22.00, which is a positive sign.
  3. The company has higher reserves (3,411.85 cr) compared to borrowings (1,167.62 cr), indicating strong financial stability.
  4. The company has shown consistent growth in sales (5.92 cr) and profit (221.77 cr) over the years.
  1. The stock has a low average ROCE of 9.08%, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in CIE Automotive India Ltd:
    1. Net Profit Margin: 12.12%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 17.77% (Industry Average ROCE: 10.31%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 18.79% (Industry Average ROE: 12.67%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 8.43
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 0.63
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 22.2 (Industry average Stock P/E: 123.93)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.13
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Mahindra CIE Automotive Ltd. is a Public Limited Listed company incorporated on 13/08/1999 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L27100MH1999PLC121285 and registration number is 121285. Currently Company is involved in the business activities of Forging, pressing, stamping and roll-forming of metal; powder metallurgy. Company’s Total Operating Revenue is Rs. 3290.60 Cr. and Equity Capital is Rs. 379.10 Cr. for the Year ended 31/12/2021.
INDUSTRYADDRESSCONTACT
ForgingsSuite F9D, Grand Hyatt Plaza (Lobby Level), Mumbai Maharashtra 400055contact.investors@cie-india.com
http://www.cie-india.com
Management
NamePosition Held
Mr. Shriprakash ShuklaChairman
Mr. Manoj MenonExecutive Director & CEO
Mr. Ander Arenaza AlvareExecutive Director
Mr. Jesus Maria Herrera BarandiaranNon Executive Director
Mr. Anil HaridassNon Executive Director
Mr. Manoj MaheshwariIndependent Director
Mr. Suhail A NathaniIndependent Director
Mrs. Roxana Meda InorizaIndependent Director
Mr. Alan Savio D�Silva PicardoIndependent Director
Mr. Jairaj PurandareIndependent Director

FAQ

What is the latest intrinsic value of CIE Automotive India Ltd?

The latest intrinsic value of CIE Automotive India Ltd as on 03 December 2024 is ₹742.22, which is 54.63% higher than the current market price of ₹480.00. The stock has a market capitalization of 18,191 Cr. and recorded a high/low of ₹628/401 during the current fiscal year 2024-2025. As of Jun 2024, the company has reserves of ₹5,816 Cr and total liabilities of ₹9,683 Cr.

What is the Market Cap of CIE Automotive India Ltd?

The Market Cap of CIE Automotive India Ltd is 18,191 Cr..

What is the current Stock Price of CIE Automotive India Ltd as on 03 December 2024?

The current stock price of CIE Automotive India Ltd as on 03 December 2024 is 480.

What is the High / Low of CIE Automotive India Ltd stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of CIE Automotive India Ltd stocks is 628/401.

What is the Stock P/E of CIE Automotive India Ltd?

The Stock P/E of CIE Automotive India Ltd is 22.2.

What is the Book Value of CIE Automotive India Ltd?

The Book Value of CIE Automotive India Ltd is 163.

What is the Dividend Yield of CIE Automotive India Ltd?

The Dividend Yield of CIE Automotive India Ltd is 1.04 %.

What is the ROCE of CIE Automotive India Ltd?

The ROCE of CIE Automotive India Ltd is 18.3 %.

What is the ROE of CIE Automotive India Ltd?

The ROE of CIE Automotive India Ltd is 20.3 %.

What is the Face Value of CIE Automotive India Ltd?

The Face Value of CIE Automotive India Ltd is 10.0.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in CIE Automotive India Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE