CIE Automotive India Ltd

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BSE Code: 532756       NSE Code: MAHINDCIE

Business Profile
Business Profile
Mahindra Forgings (MAHFORG), incorporated under the name Mahindra Automotive Steels, was a non-operating company. Pursuant to a scheme of arrangement between Amforge Industries and Mahindra Automotive Steels, the entire Chakan unit of Amforge Industries as a going concern together with all the assets and liabilities relating to the Chakan unit was transferred to and vested in Mahindra Automotive Steels with effect from April 1, 2005. It is expected that the demerger will improve capacity utilization and productivity of the Chakan unit and shall enhance the synergies between the Chakan unit and Mahindra Forgings\' plans in the automotive component sector and the forging business. The Mahindra and Mahindra group at present holds 47.11% stake in the company.

The company's forging and machining facility is one of the top three forging companies in India with an installed capacity of 42,000 MT. Mahindra Forgings is the largest supplier of forged components (like crankshafts and steering knuckles) to the Indian automotive market, commanding a 40% market share.

Financials
The company disclosed that loss for the quarter ended in December 2008 has narrowed. Net sales for the quarter declined 19.57% to Rs 392.20 million, while total income for the quarter dipped 16.63% to Rs 415.73 million, when compared with the prior year period. It posted earnings of Rs 0.52 a share during the quarter.

Recent Developments
30-MAR-09
CARE reaffirmed the rating of BBB- assigned to the long-term bank facilities of the company aggregating Rs 2.2478 billion (including proposed facilities of Rs 74.8 million).


03-FEB-09
The company has decided to align its production plan as per expected demand for the month of February, 2009.


Other Information
Annual Reports for CIE Automotive India Ltd
Annual Report YearDownload Annual ReportDownload Report Preview
2022-23
2021-22
2020-21
2019-20
2018-19
2017-18
2016-17
2015-16
2014-15
2013-14
2012-13
2011-12
2010-11
2009-10
2008-09
2007-08
2006-07
2005-06

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