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CIE Automotive India Limited

India · NSE: CIEINDIA.NS · Market cap: · P/E: · P/S:

CIE Automotive India makes metal and composite car parts — forgings, gears, aluminum components — that it sells to major automakers in India and around the world.

CIE Automotive India is a parts supplier to the auto industry. It doesn't build cars; it makes the pieces that go inside them. Think of gears, forged metal components, aluminum castings, and composite parts — the hard, precise stuff that has to survive millions of miles of vibration, heat, and stress. The company sells these to carmakers and other original equipment manufacturers, mostly in India but also across Europe and other international markets.

The business splits into two fairly different halves. One is the Indian operation, which makes a wide range of components — gears, forgings, aluminum parts, magnetic products — for both passenger cars and commercial vehicles, and it sells to nearly every major automaker building in India. The other half is a European business, largely based in Germany and Spain, that specializes in forging and machining high-precision metal parts, often for premium and performance cars. The Indian side is the growth engine; the European side is more mature and cyclical. The company is a subsidiary of Spain's CIE Automotive, a global auto-parts group, and it was formerly known as Mahindra CIE Automotive — the product of a merger between Mahindra's auto-component businesses and CIE's Indian operations. This matters because it gives the company two things: access to a global parent's technology and customers, and deep roots with Indian carmakers. Its customers include big names like Maruti Suzuki and Tata Motors in India, plus European carmakers through the parent's relationships. The risk is the same as every auto supplier's: carmakers squeeze suppliers on price, demand is tied to how many cars get built, and the shift to electric vehicles changes what parts are needed at all.


The company spends its cash on keeping factories modern, on acquisitions to add capabilities, and on paying dividends to shareholders. Auto parts is a grind-it-out business — thin margins, heavy capital spending, and constant pressure to stay ahead on quality and cost. CIE's edge comes from scale in India, technical know-how from its Spanish parent, and a customer list that includes almost every major automaker in its home market.

Saved answer · last researched 15 Nov 2026