ADVERTISEMENT

Mahindra CIE Q3 Review - Inline; India Business Continues To Outperform; EU Hurt By Energy Cost: Motilal Oswal

The India business outperformed the European business, led by strong domestic demand.

<div class="paragraphs"><p>Close view of gear components. (Source: freepik)</p></div>
Close view of gear components. (Source: freepik)

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. 

Motilal Oswal Report

Mahindra CIE Automotive Ltd.’s overall performance in Q3 CY22 was in line.

The India business outperformed the European business, led by strong domestic demand. Given the moderation in commodity costs and partial pass-through of energy cost, we expect margin in both geographies to improve from here on.

We change our CY22/CY23 estimate of Mahindra CIE by -1%/+4% to reflect strong passenger vehicle demand for its key customers in India and adverse forex impact.

Click on the attachment to read the full report:

Motilal Oswal Mahindra CIE Q3CY22 Results Review.pdf

DISCLAIMER

This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.