Mahindra & Mahindra Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 105155.44 Crore) operating in Auto sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 21770.81 Crore, down -.44 % from last quarter Total Income of Rs 21867.78 Crore and up 6.20 % from last year same quarter Total Income of Rs 20499.55 Crore. Company reported net profit after tax of Rs 797.23 Crore in latest quarter.
Investment Rationale
Implied core P/E for MM stands at 15.5x/11.9x FY22E/FY23E EPS. This implies an over 20% discount (on an FY23E basis) to its five-year average Core P/E. The brokerage had increased target multiple for the Auto business to 15x (in sync with multiple increases for AL/TTMT) from 12x. It maintains Buy rating with a TP of INR980/share (Mar’23E SoTP)
Promoter/FII Holdings
Promoters held 18.9 per cent stake in the company as of March 31, 2021, while FIIs held 44.7 per cent, DIIs 26.8 per cent and public and others 9.6 per cent.
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