Q3CY21 Company Update - Mahindra CIE - ICICI Direct

MCI posted decent Q3CY21 results.

• Consolidated net sales rose 2.4% QoQ to Rs. 2,091 crore
• EBITDA margins were flattish sequentially at 12.8%
• PAT was 22.2% QoQ to Rs. 166 crore, aided by lower effective tax rate

Key triggers for future price performance

• We expect CY20-23E net sales CAGR of 16.7% led by India business
• Higher utilisation, efficiency efforts to aid margin uptick to 13.5% (CY23E)
• CY23E EPS seen at ~Rs. 18/share; RoCE to improve to ~12% by CY22E
• CY23E CFO, FCF yield seen at 12%, 7%, respectively, with net debt free b/s

For details, click on the link below: Link to the report

Shares of Mahindra CIE Automotive Limited was last trading in BSE at Rs. 250.85 as compared to the previous close of Rs. 252.00. The total number of shares traded during the day was 43981 in over 1508 trades.

The stock hit an intraday high of Rs. 261.95 and intraday low of 248.55. The net turnover during the day was Rs. 11247325.00.

Source : Equity Bulls

Keywords

MahindraCIEAutomotive INE536H01010 MAHINDCIE ICICIDirect Q3CY21 Companyupdate