This is the stock’s biggest single-day fall since March 2020. The stock was among the top losers on the NSE 500 after the company announced its June-quarter earnings and disclosed the resignation of Rajendra Vadlapudi, Chief Executive Officer of its Iron Casting Division.
For the second quarter of calendar year 2026, CIE Automotive reported a 15.5% year-on-year increase in net profit to ₹236 crore, compared with ₹204 crore in the corresponding period last year.
Revenue from operations rose 11% to ₹2,621 crore from ₹2,369 crore, while EBITDA increased 16% to ₹390 crore from ₹337 crore. EBITDA margin improved to 14.9% from 14.2% a year earlier.
The company’s India business continued to drive growth, with revenue rising 13% year-on-year. However, EBITDA margin for the domestic business declined by 80 basis points, as margins were slightly affected by price inflation arising from the conflict in West Asia.
In Europe, revenue increased 7% year-on-year, while EBITDA margin expanded by 340 basis points. The company said real sales growth in euro terms declined 6%, with reported revenue benefiting from a 13% positive impact from exchange rate movements.
Separately, CIE Automotive said Rajendra Vadlapudi has resigned as Chief Executive Officer of the Iron Casting Division, effective at the close of business on July 22, 2026. Consequently, he has also ceased to be a Key Managerial Personnel of the company.
Vadlapudi had been associated with CIE Automotive for 16 years. The company did not disclose the reason for his resignation.
Shares of the company fell as much as 12.2% reacting to the company’s June-quarter results and Vadlapudi’s resignation. The stock was trading at ₹419.45 apiece at 12.28 p.m. on Thursday, down 11.2%. Following the decline, the stock has turned negative for the year and is down more than 3% in 2026.
