Motilal Oswal's research report on CIE Automotive India
CIEINDIA’s consolidated PAT at INR 2.1bn was in line with our estimates. However, while India’s business performance was ahead of our estimates, Europe's performance missed our estimates. The India business is expected to be the primary growth driver for the company even in CY26. CIEINDIA remains focused on sustaining profitability through operational efficiencies.
Outlook
The stock trades at 19x/18.1x CY26E/CY27E consolidated EPS and is attractive. Reiterate BUY with a TP of INR539 (based on 21x CY27E consolidated EPS).
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