Rajendra Vadlapudi has resigned as CEO of the Iron Casting Division at cie automotive India Limited, effective from the close of business hours on July 22, 2026. The resignation marks a change in the company's Key Managerial Personnel following a tenure of over 16 years. Vadlapudi cited a new professional opportunity as the reason for his departure and expressed willingness to assist in the transition process.

The company disclosed the development in a filing submitted to the stock exchanges, citing Regulation 30 read with Clause 7 and 7C of Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing confirmed that Vadlapudi ceased to be a Key Managerial Personnel of the company with effect from the stated date.

Resignation Details

In his resignation letter addressed to Manoj Menon, Chief Executive Officer & Executive Director, Vadlapudi formally stepped down from his position. He requested that his relieving date be on or before August 15, 2026, to facilitate a smooth handover. The resignation letter is enclosed with the regulatory filing as required.

The cessation date recorded in the regulatory annexure is listed as July 23, 2026. Pankaj V. Goyal, Company Secretary, Chief Compliance Officer, and Head-Legal, signed the disclosure on behalf of CIE Automotive India Limited.

CIE Automotive India reported a consolidated profit after tax (PAT) of ₹4,850 million for the half-year ended June 30, 2026 (H1 CY26), an increase of 18% from ₹4,099 million in the prior year. Revenue from operations grew 13% to ₹50,843 million for the period, driven by organic growth in the Indian business and favourable exchange rate evolution in Europe. The board approved the financial results at its meeting on July 22, 2026.

Consolidated Performance

For the quarter ended June 30, 2026 (Q2 CY26), the company posted a consolidated PAT of ₹2,356 million, compared to ₹2,035 million in Q2 CY25. Revenue for the quarter increased 11% to ₹25,432 million. EBITDA for Q2 CY26 stood at ₹4,183 million, up 17% year-on-year, with an EBITDA margin of 16.4%. Profit before tax (PBT) for the quarter rose 15% to ₹3,120 million.

Operational Metrics

The company’s performance was bolstered by its Indian operations, which reported sales of ₹32,739 million in H1 CY26, a 14% increase. The EBITDA for the India segment was ₹5,623 million, with a margin of 17.2%. In Europe, sales increased 12% to ₹18,104 million, while EBITDA surged 35% to ₹2,863 million, resulting in a margin of 15.8%. The company noted that margins in India were slightly affected by cost inflation due to geopolitical tensions, while Europe saw margin improvement from restructuring actions.

Financial Position

As of June 30, 2026, the company’s net financial debt was a negative ₹14,161 million, indicating a net cash position, compared to a negative ₹18,807 million as of December 31, 2025. The Return on Net Assets (RONA) improved to 19.4% from 18.4% in the previous period. The board of directors had previously recommended a final dividend of ₹7 per equity share for the financial year ended December 31, 2025, which was paid during the quarter ended June 30, 2026.

*Comparison is with the period ended December 31, 2025.