CIE Automotive India Q1 FY25 results (Apr–Jun 2024) and concall

CIE Automotive India delivered a resilient performance in Q2 CY24, where record-high margins and steady growth in the Indian market successfully offset significant headwinds in Europe. While the Indian business is on a strong trajectory with improving order ramp-ups and operational efficiencies, the European segment is grappling with a cyclical downturn in off-road vehicles and a temporary slowdown in EV penetration. Management remains focused on capital discipline, targeting further debt reduction and maintaining a steady capex pipeline focused on India.