Mahindra & Mahindra Ltd. News and Updates

Name: Latest research reports of Mahindra & Mahindra Ltd. authored by HDFC Securities and published by - Trendlyne research reports.
Item: Mahindra & Mahindra Ltd.
Rating: 3
Author: HDFC Securities

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Mahindra & Mahindra Ltd.

12 Feb 2020

3005.20

-2.77%

Mahindra & Mahindra (3QFY20): BSVI headwinds ahead. Maintain NEUTRAL

Neutral: Mahindra & Mahindra Ltd.

HDFC Securities

Maintain NEUTRAL as (1) Competition remains intense, with several SUV models displayed at the auto expo (2) Post BSVI, price hikes on diesel SUVs will impact profitability in the near term (3) The expected revival in tractor demand will partially offset the above. We advise investors to turn constructive on the stock after further clarity emerges on BSVI/favorable market responses to new launches. M&M;+MVMLs PAT at Rs 9.8bn was below estimates due to higher depreciation/tax rates. Demand outlook remains mixed. While SUV sales are likely to be impacted due to BSVI related price hikes, tractor demand will hold up on the back of good monsoons. The subsidiaries remain an overhang on the financial performance. We reiterate NEUTRAL with a Dec-21 SOTP of Rs 570.

Anand Rathi released a Buy report for Mahindra & Mahindra Ltd. with a price target of 3600.0 on 15 May, 2025.

Mahindra & Mahindra Ltd.

12 Feb 2020

3005.20

-2.77%

Mahindra & Mahindra

Results Update: Mahindra & Mahindra Ltd.

SMC online

profit declined by 6% to Rs 3395.47 crore in Q3 FY20 from Q3 FY19. The combined operating margin (OPM) stood reported flat to 13.57% in Q3 FY20 as against 13.80% in Q3 FY19. The combined profit after tax declined by 85% to Rs 199.94 crore in Q3 FY20 from Q3 FY19. The vehicle sales fell 8% to 1.23 lakh units in Q3 FY20 from 1.33 lakh units in Q3 FY19. Tractor sales declined 6% to 81,435 units in Q3 FY20 compared with 87,036 units in Q3 FY19. Total...

Number of FII/FPI investors increased from 1614 to 1677 in Mar 2025 qtr.

Mahindra & Mahindra Ltd.

11 Feb 2020

3005.20

-2.77%

Result Review- M&M

Sell: Mahindra & Mahindra Ltd.

Hem Securities

Mahindra & Mahindra Limited operates in nine segments. The automotive segment includes sales of automobiles, spare parts and related services. Farm equipment segment includes sales of tractors, spare parts and related services; information technology (IT) services, which consists of services rendered for IT and telecom; financial services includes services relating to financing, leasing and hire purchase of automobiles and tractors; steel trading and processing includes trading and processing of steel; infrastructure includes...

Anand Rathi released a Buy report for Mahindra & Mahindra Ltd. with a price target of 3600.0 on 15 May, 2025.

Mahindra & Mahindra Ltd.

11 Feb 2020

3005.20

-2.77%

Mahindra & Mahindra (ADD): Healthy core performance; subsidiaries a drag again

Buy: Mahindra & Mahindra Ltd.

Recommendation Target

BOB Capital Markets Ltd.

M&M;'s (MM) Q3 EBITDA at Rs 17.9bn (+5% YoY) beat estimates by ~5% on a strong margin uptick led by cost control and a richer auto model mix.

Anand Rathi released a Buy report for Mahindra & Mahindra Ltd. with a price target of 3600.0 on 15 May, 2025.

Mahindra & Mahindra Ltd.

11 Feb 2020

3005.20

-2.77%

Q3FY20 Result Update

Hold: Mahindra & Mahindra Ltd.

Target

Prabhudas Lilladhar

tractor industry growth guidance to growth of ~5% in FY21 (v/s 0-5% earlier). While MM is largest benefeciary of rural recovery benefitting tractor demand, it is highly exposed to BS6 transition and related cost increase challenge (with ~90% of its product portfolio is diesel dependent). Also increasing competion in its core forte (UV2 segment due to MG and Kia) to also dent auto segment performance. Hence, we downgrade MM+MVML FY21/22 EPS by 4% each. We believe valuations for MM is reasonable as expected uptick in tractor segment to partially offset by BS6 challenge in UV business. Hence...

Mahindra & Mahindra Ltd. is trading above all available SMAs

Mahindra & Mahindra Ltd.

11 Feb 2020

3005.20

-2.77%

Mahindra & Mahindra

Buy: Mahindra & Mahindra Ltd.

ICICI Securities Limited

M&M; is a leading tractor manufacturer domestically with leading market share of ~42% in the domestic market. The company has a strong presence in the southern as well as western regions, which are expected to stage a strong recovery courtesy robust rainfall activity and healthy Rabi crop sowing. Given the underpenetrated market domestically, we expect M&M; to continue its market leadership in farm mechanisation with tractor volumes expected to grow at CAGR of 7.4% in FY20-22E. In the domestic PV space, M&M; is a prominent player in the UV space with market share at ~20% as...

Number of FII/FPI investors increased from 1614 to 1677 in Mar 2025 qtr.

Mahindra & Mahindra Ltd.

23 Dec 2019

3005.20

-2.77%

Pick Of The Week - Mahindra & Mahindra Ltd

Buy: Mahindra & Mahindra Ltd.

Target

Edelweiss

M&M; is a diversified company with operations classified into nine segmentsautomotive, which involves sales of UVs/CVs and 3Ws.

Mahindra & Mahindra .. has an average target of 3468.56 from 9 brokers.

Mahindra & Mahindra Ltd.

20 Dec 2019

3005.20

-2.77%

MAHINDRA AND MAHINDRA LIMITED

Hold: Mahindra & Mahindra Ltd.

Target

Geojit BNP Paribas

Q2FY20 consolidated revenue declined 5.9% YoY with automotive segment revenue falling steeply by 15.9% YoY on weaker volumes (domestic -21.5% YoY and exports -15.3%). Farm equipment segment...

Number of FII/FPI investors increased from 1614 to 1677 in Mar 2025 qtr.

Mahindra & Mahindra Ltd.

05 Dec 2019

3005.20

-2.77%

Mahindra & Mahindra (Reinstate Coverage): Shifting sands. NEUTRAL

Neutral: Mahindra & Mahindra Ltd.

HDFC Securities

However, the expected revival in tractor demand (on the back of healthy monsoons) will partially offset the impact from the above. We would advise investors to turn constructive on the stock after further clarity emerges on BSVI/favorable market responses to new launches. We reinstate coverage on Mahindra & Mahindra (M&M;) with a NEUTRAL and a SOTP based Sep-21 TP of Rs 570. After outperforming the PV industry over the past decade, we expect growth rates for SUVs to converge. Further, as competition remains intense, M&M;s automotive segment margins are expected to remain under pressure.