Mahindra CIE

Mumbai, India Founded: 1999 • Age: 27 yrs Listed Fortune India 500 · #285
Manufacturer and supplier of major auto components to tier 1 and OEMs
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About Mahindra CIE

Mahindra CIE is a publicly listed company based in Mumbai (India) founded in 1999. Manufacturer and supplier of major auto components to tier 1 and OEMs. The company has 10,400 employees. Mahindra CIE has completed 1 acquisition, including Aurangabad Electricals. Its chief executive, as recorded, is Ander Arenaza Alvarez. Its Indian entity Cie Automotive India Limited reported revenue of ₹9,515 Cr. Its focus areas include Auto, Auto Components, Sheet Metal and Fabrication Parts. Similar companies include Maini Precision Products, Ramkrishna Forgings and Bharat Forge.

Company details

Mahindra CIE was founded in 1999 and is headquartered in Mumbai, India. Powertrain, suspension, electrical, body, chassis, and steering components are produced for passenger cars, commercial vehicles, tractors, two-wheelers, and three-wheelers. Supplies are provided to clients including Maruti Suzuki, Renault, Tata Motors, Volvo, and Escorts. Components are also delivered to the railway sector.

Mahindra CIE is ranked #285 on the Fortune India 500 (2025).

Recognitions & Rankings of Mahindra CIE

Fortune India 500 2025 edition
Rank#285
Total income
₹9,090 Cr
Profit
₹828 Cr
Last year #255
  • Headquarters Mumbai, India
  • Employees 10,400
  • Stage Public
  • Sectors
    Transportation, Automotive & Logistics
  • Email
    ••••••••
  • Phone
    •••• ••••
  • Website mahindracie.com
  • Social X
  • Legal Name Cie Automotive India Ltd
Operational Areas
Transportation, Automotive & Logistics → Automotive Manufacturing & Components
Key Metrics
  • Market Cap
    ₹14,349 Cr

    CIEINDIA · NSE

  • Share Price
    ₹377.25

    -0.26% today

  • Revenue
    ₹9,406 Cr

    Dec 2025 · +4.9% YoY

  • EBITDA
    ₹1,362 Cr

    Margin 14.5%

  • Net Profit
    ₹828 Cr

    Dec 2025 · +0.3% YoY

  • P/E (TTM)
    14.8x

    P/B 1.8x

  • ROE
    11.8%

    ROCE 14.4%

  • Debt / Equity
    0.07

    Interest cover 2.6x

  • Employee Count
    10,400
  • Investments & Acquisitions
    Aurangabad Electricals

Board of directors of Cie Automotive India Limited (Mahindra CIE)

Cie Automotive India Limited is the primary company behind Mahindra CIE. The board of Cie Automotive India Limited currently have 8 directors; the longest-serving is Shriprakash Shukla, appointed in 2015. 41 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Shriprakash Shukla
DIN 00007418
Director01 Apr 201511 yrs 7 moCie Automotive India Limited
Roxana Meda Inoriza
DIN 08520545
Director29 Sep 20197 yrs 1 moCie Automotive India Limited
Alan Savio D Silva Picardo
DIN 08513835
Director29 Sep 20197 yrs 1 moCie Automotive India Limited
Manoj Mullassery Menon
DIN 07642469
Whole-time director17 Oct 20197 yrsCie Automotive India Limited
Anil Haridass
DIN 00266080
Director10 Dec 20196 yrs 11 moCie Automotive India Limited
Jairaj Manohar Purandare
DIN 00159886
Director10 Jun 20233 yrs 5 moCie Automotive India Limited
Ander Arenaza Alvarez
DIN 07591785
CEO02 May 20242 yrs 6 moCie Automotive India Limited
Nuria Gisbert Trejo
DIN 10607049
Director01 Jul 20242 yrs 4 moCie Automotive India Limited

People of Mahindra CIE

1 people are tracked at Mahindra CIE (1 in leadership); the tracked headcount is 10,400.

NameRoleGroup
Ander Arenaza Alvarez
CEOLeadership
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IPO & Listings of Mahindra CIE

Mahindra CIE is a publicly listed company on the NSE with ticker symbol CIEINDIA in India, operating in the Producer manufacturing sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • IPO date30 Aug 2007
  • Listed onNSE: MAHINDCIE
  • Listed entityCIE Automotive India Ltd
  • Exchange sectorProducer manufacturing
  • ISININE536H01010
  • Share price₹380.45 (-0.08% on the day) · 2026-10-14
  • Market capitalisation₹14,442 Cr
  • Price to earnings16.0
  • EPS (diluted, trailing year)₹23.81
  • Dividend yield1.84%
  • Volume (last session)212,488

Financials of Mahindra CIE

Exchange-reported figures of Cie Automotive India Limited, the listed company behind Mahindra CIE (NSE: CIEINDIA).

Financial Highlights

Dec 2025 · Consolidated
Revenue
₹9,406 Cr
+4.9% YoY
EBITDA
₹1,362 Cr
+0.9% YoY
Profit After Tax
₹828 Cr
+0.3% YoY
Net Worth
-
Total Assets
-
Total Debt
-

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsDec 2025Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019
Income statement
Revenue9,4068,9649,2808,7536,7656,0507,908
Revenue growth+4.9%-3.4%+6.0%+29.4%+11.8%-23.5%-
EBITDA1,3621,3511,423324926501963
EBITDA margin+14.5%+15.1%+15.3%+3.7%+13.7%+8.3%+12.2%
Profit before tax1,0871,0921,403104666195628
Net profit8288251,126(84.75)39996.31356
Net profit margin+8.8%+9.2%+12.1%-1.0%+5.9%+1.6%+4.5%
EPS (₹)21.8321.8129.66(3.59)10.362.819.34
Balance sheet
Cash flow
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue2,6332,6212,6122,3932,3722,3692,2732,110
Revenue growth (YoY)+11.0%+10.6%+14.9%+13.4%+11.1%+3.3%--
Other income45.5730.7630.7128.3020.1523.3137.0239.54
EBITDA374390402335356337335299
EBITDA margin+14.2%+14.9%+15.4%+14.0%+15.0%+14.2%+14.8%+14.2%
Depreciation92.9497.0894.3495.5189.0487.0986.4580.87
Interest3.9610.179.188.673.571.6512.6317.54
Profit before tax323313329259283271273240
Tax78.9177.5579.7754.3969.2667.7967.0355.22
Net profit244236249204214204206185
EPS (₹)6.436.216.575.385.645.365.444.88
MetricsDec 2025Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019
Income statement
Revenue4,8964,5634,5704,3983,2912,1452,894
Revenue growth+7.3%-0.1%+3.9%+33.7%+53.4%-25.9%-
EBITDA764732713622416202345
EBITDA margin+15.6%+16.0%+15.6%+14.1%+12.6%+9.4%+11.9%
Profit before tax797749717633302102264
Net profit61758356248111474.00165
Net profit margin+12.6%+12.8%+12.3%+10.9%+3.5%+3.5%+5.7%
EPS (₹)16.2615.3814.8213.502.911.954.55
Balance sheet
Cash flow
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue1,4061,3251,3321,2741,2541,2041,1631,119
Revenue growth (YoY)+12.1%+10.0%+14.5%+13.9%+10.4%+5.3%--
Other income27.4327.4611024.9322.7425.7111920.86
Total expenses1,1861,1121,1131,0791,0551,021977948
EBITDA220213219195199183186170
EBITDA margin+15.7%+16.1%+16.5%+15.3%+15.9%+15.2%+16.0%+15.2%
Depreciation41.3139.6838.2738.6437.6737.9737.4836.09
Interest0.891.094.022.200.641.043.411.79
Profit before tax205200287179183170264153
Tax52.1050.7753.0845.4245.4743.4045.8237.33

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 13 Nov 2026
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue2,6332,6212,6122,3932,3722,3692,2732,110
Revenue growth (YoY)+11.0%+10.6%+14.9%+13.4%+11.1%+3.3%--
Other income45.5730.7630.7128.3020.1523.3137.0239.54
EBITDA374390402335356337335299
EBITDA margin+14.2%+14.9%+15.4%+14.0%+15.0%+14.2%+14.8%+14.2%
Depreciation92.9497.0894.3495.5189.0487.0986.4580.87
Interest3.9610.179.188.673.571.6512.6317.54
Profit before tax323313329259283271273240
Tax78.9177.5579.7754.3969.2667.7967.0355.22
Net profit244236249204214204206185
EPS (₹)6.436.216.575.385.645.365.444.88
ParticularsDec 2025Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019
Revenue9,4068,9649,2808,7536,7656,0507,908
Revenue growth+4.9%-3.4%+6.0%+29.4%+11.8%-23.5%-
Other income10915041098.3648.0054.9033.10
Total expenses8,0447,6137,8578,4295,8395,5496,945
Employee cost1,1271,0109949029261,2621,308
EBITDA1,3621,3511,423324926501963
EBITDA margin+14.5%+15.1%+15.3%+3.7%+13.7%+8.3%+12.2%
Depreciation358331322296273306316
Interest26.5277.6010722.7134.8054.8052.30
Profit before tax1,0871,0921,403104666195628
Tax25826427824027388.70274
Net profit8288251,126(84.75)39996.31356
Net profit margin+8.8%+9.2%+12.1%-1.0%+5.9%+1.6%+4.5%
EPS (₹)21.8321.8129.66(3.59)10.362.819.34
ParticularsDec 2025Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019
Growth
Sales growth+4.9%-3.4%+6.0%+29.4%+11.8%-23.5%-
EBITDA growth+0.9%-5.1%+338.7%-65.0%+84.7%-47.9%-
PBT growth-0.5%-22.2%+1250.4%-84.4%+241.3%-68.9%-10.6%
Net income growth+0.3%-26.7%+1428.3%-121.3%+313.8%-73.0%-
Revenue CAGR (3Y)+2.4%+9.8%+15.3%+3.4%-5.6%-2.0%+14.1%
EBITDA CAGR (3Y)+61.3%+13.4%+41.6%-30.4%-2.6%-14.4%+22.7%
Profitability & leverage
Net income margin+8.8%+9.2%+12.1%-1.6%+5.8%+1.8%+4.5%
Return on capital employed+14.4%+16.2%+17.7%+14.0%+9.8%+3.6%+10.6%
Return on net worth+11.8%+13.2%+20.3%-1.7%+7.8%+2.2%+7.9%
Debt / equity0.070.110.170.240.310.330.35
Long-term debt / equity0.050.050.030.100.170.180.22
Interest cover2.647.619.7580.335.3328.108.08
Efficiency & per share
Fixed asset turnover1.021.041.080.990.750.711.11
Inventory turnover8.477.967.826.845.755.876.92
Debtors turnover15.2214.2312.4211.459.858.3910.70
EPS (₹)21.8321.8129.66(3.59)10.362.819.34
Dividend per share (₹)7.007.005.002.502.500.000.00
Book value per share (₹)196.62173.36157.84134.41137.08129.50122.26
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue1,4061,3251,3321,2741,2541,2041,1631,119
Revenue growth (YoY)+12.1%+10.0%+14.5%+13.9%+10.4%+5.3%--
Other income27.4327.4611024.9322.7425.7111920.86
Total expenses1,1861,1121,1131,0791,0551,021977948
EBITDA220213219195199183186170
EBITDA margin+15.7%+16.1%+16.5%+15.3%+15.9%+15.2%+16.0%+15.2%
Depreciation41.3139.6838.2738.6437.6737.9737.4836.09
Interest0.891.094.022.200.641.043.411.79
Profit before tax205200287179183170264153
Tax52.1050.7753.0845.4245.4743.4045.8237.33
ParticularsDec 2025Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019
Revenue4,8964,5634,5704,3983,2912,1452,894
Revenue growth+7.3%-0.1%+3.9%+33.7%+53.4%-25.9%-
Other income19217315015917.5019.7044.50
Total expenses4,1333,8323,8573,7762,8751,9432,549
Employee cost487449428397444371383
EBITDA764732713622416202345
EBITDA margin+15.6%+16.0%+15.6%+14.1%+12.6%+9.4%+11.9%
Depreciation152144136133119108113
Interest7.2811.6710.9813.4612.2011.9013.60
Profit before tax797749717633302102264
Tax18016615412119227.5091.30
Net profit61758356248111474.00165
Net profit margin+12.6%+12.8%+12.3%+10.9%+3.5%+3.5%+5.7%
EPS (₹)16.2615.3814.8213.502.911.954.55
ParticularsDec 2025Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019
Growth
Sales growth+7.3%-0.1%+3.9%+33.7%+53.4%-25.9%-
EBITDA growth+4.3%+2.7%+14.7%+49.5%+105.7%-41.5%-
PBT growth+6.4%+4.6%+13.1%+109.9%+197.3%-61.5%+24.5%
Net income growth+5.8%+3.7%+16.8%+322.8%+53.7%-55.1%-
Revenue CAGR (3Y)+3.6%+11.5%+28.7%+15.0%+1.5%+3.0%+17.4%
EBITDA CAGR (3Y)+7.1%+20.7%+52.2%+21.6%+12.2%+2.2%+36.7%
Profitability & leverage
Net income margin+12.6%+12.8%+12.3%+11.6%+3.4%+3.5%+6.0%
Return on capital employed+14.4%+14.4%+14.8%+14.3%+7.4%+2.8%+7.0%
Return on net worth+11.2%+11.4%+12.0%+12.0%+2.8%+1.9%+4.6%
Debt / equity0.010.010.030.050.040.020.02
Long-term debt / equity0.000.000.010.010.010.000.00
Interest cover1.191.981.902.764.1112.705.84
Efficiency & per share
Fixed asset turnover1.371.331.401.421.110.771.12
Inventory turnover10.409.919.439.148.347.028.71
Debtors turnover12.2310.458.838.617.684.615.44
EPS (₹)16.2615.3814.8213.502.911.954.55
Dividend per share (₹)7.007.005.002.502.500.000.00
Book value per share (₹)149.93140.57130.22117.87106.84104.09102.15

Investments & Acquisitions by Mahindra CIE

Mahindra CIE has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Aurangabad Electricals.

Acquisitions
Company NameDescriptionDomainLocationFoundedAcquiredAmount
Aurangabad Electricals
Aluminium die castings and auto electricals are manufactured for vehicles.
aurangabadelectricals.co.inAurangabad, India1985Mar 2019$116.4M
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Timeline of Mahindra CIE

3 dated milestones of Mahindra CIE across 20 years, from founding to its latest funding, stage changes and deals.

  1. Founded Mahindra CIE is founded.
  2. IPO Lists on the stock exchange (IPO).
  3. Acquisition Acquires Aurangabad Electricals.

Similar companies to Mahindra CIE

Mahindra CIE has 3 listed similar companies in our database. They include Maini Precision Products, Ramkrishna Forgings and Bharat Forge.

Company NameDomainFoundedHQ LocationTotal fundingEmployeesDescription
Maini Precision Products
mainiprecisionproducts.com1973Bengaluru, India1,445
Manufacturer & supplier of precision products and assemblies
Ramkrishna Forgings
ramkrishnaforgings.com1981Kolkata, India2,653
Ramkrishna Forgings is engaged in metal forming and manufacturing.
Bharat Forge
bharatforge.com1961Pune, India4,132
Technology-enabled automotive tools, forging, and machining materials are manufactured.
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Top companies in Automotive Manufacturing & Components

3 companies that operate in the same segment as Mahindra CIE (Automotive Manufacturing & Components) in India, ranked by their profile score on The Company Check.

CompanyDescriptionFoundedLocationTotal fundingRevenueEmployees
SEDEMAC
Electrical and electronic parts for automobiles are provided by SEDEMAC.
2007Pune, Maharashtra, IndiaUSD 26.22 MUSD 32.69 M415
Mahindra Last Mile Mobility
Manufacturer of petrol, CNG, diesel and electric last mile mobility 3 & 4 wheelers, passenger, and cargo vehicles
1994Mumbai, Maharashtra, IndiaUSD 137.89 MUSD 24.41 B33,980
Greenfuel Energy Solutions
Lithium-ion batteries for electric vehicles are manufactured across categories.
2006Gurugram, Haryana, IndiaUSD 34.18 M177
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Related news about Mahindra Cie

CIEINDIA: Q2 REVENUE 26.33B RUPEES VS 23.7B (YOY)
Exchange Update • 22 days ago
CIEINDIA: Q2 CONS NET PROFIT 2.44B RUPEES VS 2.1B (YOY); EST 2.35B
Exchange Update • 22 days ago
CIEINDIA: Q2 EBITDA 3.75B RUPEES VS 3.6B (YOY); Q2 EBITDA MARGIN 14.22% VS 14.99% (YOY)
Exchange Update • 22 days ago
Mid-cap stocks: For investors who know and accept that bears can roam the street longer: 5 mid-cap stocks with upside potential of up to 29% - The Economic Times
Economic Times • 1 month ago
CIE Automotive India invests ₹121 crore in wholly owned subsidiary CIE Hosur - CNBC TV18
CNBCTV18 • 2 months ago
Cie Automotive H1 Net Profit €191.3 Mln
Reuters • 3 months ago
Buy CIE Automotive India; target of Rs 501: Motilal Oswal
Moneycontrol • 3 months ago
CIE Automotive India shares plunge 12%, most since March 2020 despite strong Q2; Here's why - CNBC TV18
CNBCTV18 • 3 months ago
CIE Automotive India June-Quarter Consol Net Profit 2.36 Billion Rupees
Reuters • 3 months ago
Mahindra Mahindra Says Unit Sells Remaining 3.58% Stake In CIE Automotive S.A For EUR 126 Million
Reuters • 6 months ago
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Frequently Asked Questions about Mahindra CIE

Mahindra CIE was founded in 1999.

Mahindra CIE is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.

Ander Arenaza Alvarez is the CEO of Mahindra CIE, as recorded in our data.

Mahindra CIE has 10,400 employees.

The primary company behind Mahindra CIE, Cie Automotive India Limited, reported revenue of ₹9,515 Cr for FY 2025, up 5% year on year.

Mahindra CIE was founded in 1999 and is headquartered in Mumbai, India. Powertrain, suspension, electrical, body, chassis, and steering components are produced for passenger cars, commercial vehicles, tractors, two-wheelers, and three-wheelers. Supplies are provided to clients including Maruti Suzuki, Renault, Tata Motors, Volvo, and Escorts. Components are also delivered to the railway sector.

Mahindra CIE's top competitors include Bharat Forge, Maini Precision Products and Ramkrishna Forgings.

Yes, Mahindra CIE is publicly traded on NSE under the ticker symbol CIEINDIA.

Mahindra CIE has made 1 acquisition, including Aurangabad Electricals.

Mahindra CIE operates through Cie Automotive India Limited.

The legal entities of Mahindra CIE currently have 12 directors, including Shriprakash Shukla, Roxana Meda Inoriza, Alan Savio D Silva Picardo and others.

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