BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
We recently interacted with Mahindra CIE Automotive Ltd.'s management and following are the key takeaways:
company is targeting to take India revenue mix to ~60% versus 50% currently, driven by fast-growing profitable opportunities visible;
Mahindra and Mahindra Ltd.'s India revenue mix is now at 35%, with newly-launched SUVs pushing up per unit -addition;
strong demand from passenger vehicle makers (e.g. Tata Motors Ltd., M&M, Hyundai and Kia) has led to Mahindra CIE adding capacity across stamping, magnetics and warm forging operations;
~20%/~25% of India/Europe businesses are under electric vehicle disruption risk and management is well prepared to scale up the EV parts business to combat the risks;
passenger vehicle demand in the Europe is yet to see major impact amid the current macro-issues though CV demand would get impacted.
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