Company Update - Mahindra CIE - ICICI Direct

MCI posted healthy Q1CY22 results.

- Consolidated net sales came in at Rs. 2,558 crore, up 25% QoQ
- EBITDA margins were at 11.5%, up 170 bps QoQ
- PAT nearly doubled QoQ at Rs. 161.4 crore

Key triggers for future price performance

- With improving economic outlook post the pandemic and commodity inflation led increase in realisations, we expect sales to grow at a CAGR of 8.4% over CY21-23E, led primarily by growth in the Indian business

- Efficiency efforts to report margin uptick to 12.4% by CY23E with CY23E EPS seen at ~Rs. 18.3/share with consequent RoCE at ~12% by CY23E

- Constant effort to de-risk base business amid global thrust on electrification with order book gaining traction in EV specific as well as EV neutral products

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

Shares of Mahindra CIE Automotive Limited was last trading in BSE at Rs. 223.50 as compared to the previous close of Rs. 199.05. The total number of shares traded during the day was 719860 in over 18074 trades.

The stock hit an intraday high of Rs. 234.80 and intraday low of 214.50. The net turnover during the day was Rs. 162430156.00.

Source : Equity Bulls

Keywords

MahindraCIEAutomotive INE536H01010 Q1CY22 ResultUpdate ICICIDirect