M M Forgings Ltd. News and Updates

Name: Latest research reports of M M Forgings Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: M M Forgings Ltd.
Rating: 5
Author: ICICI Securities Limited

Keep track of all breaking news on M M Forgings Ltd. from all sources in a single place.

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M M Forgings Ltd.

16 Oct 2021

338.05

-3.84%

MM Forgings acquires CAFOMA Autoparts

Business Line

MMFL expects this acquisition to add about 100 crore plus of turnover with the development of new parts and markets

M M Forgings Ltd. has lost -32.92% in the last 6 Months

MM Forgings acquires crankshaft supplier CAFOMA Autoparts for Rs 33 crore

Business Standard | 16 Oct 2021

M M Forgings Ltd.

24 Aug 2021, 06:18PM

338.05

-3.84%

Buy MM Forgings; target of Rs 925: ICICI Direct

Moneycontrol

ICICI Direct is bullish on MM Forgings recommended buy rating on the stock with a target price of Rs 925 in its research report dated August 23, 2021.

M M Forgings Ltd. has lost -35.89% in the last 1 Year

M M Forgings Ltd.

23 Aug 2021

338.05

-3.84%

MM Forgings

Buy: M M Forgings Ltd.

Target

ICICI Securities Limited

Standalone revenue decline was limited to 16.2% QoQ at | 239 crore vs. >50% M&HCV; volume decline domestically; largely aided by exports EBITDA margins were down ~170 bps QoQ to 18.1%, tracking negative operating leverage; gross margins rose ~100 bps sequentially Consequent PAT declined ~21% sequentially to | 24 crore...

M M Forgings Ltd. has lost -20.43% in the last 3 Months

M M Forgings Ltd.

17 Aug 2021

338.05

-3.84%

MM Forgings Standalone June 2021 Net Sales at Rs 239.37 crore, up 213.32% Y-o-Y

Moneycontrol

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M M Forgings Ltd.'s price crossed below 30Day SMA today

M M Forgings Ltd.

23 Jun 2021

338.05

-3.84%

MM Forgings Consolidated March 2021 Net Sales at Rs 293.36 crore, up 74.09% Y-o-Y

Moneycontrol

NULL

M M Forgings Ltd. is trading below all available SMAs

MM Forgings zooms 19%, nears record high on strong Q4 results

Business Standard | 22 Jun 2021

M M Forgings Ltd.

23 Jun 2021

338.05

-3.84%

MM Forgings

Buy: M M Forgings Ltd.

Target

ICICI Securities Limited

Prices of key raw materials, steel and aluminium, witnessed a steep increase in the past six months. The company has input cost pass-through arrangements with clients (albeit with a small time lag) and, hence, has been relatively unaffected. Solid offtake prospects domestically and abroad are seen leading to MMF deriving operating leverage benefits as capacity utilisation levels improve. Its focus on increasing machining content and value addition from heavier press lines added in the past are expected to be...

M M Forgings Ltd. has lost -32.92% in the last 6 Months

M M Forgings Ltd.

22 Jun 2021

338.05

-3.84%

MM Forging : Q4FY21 Result Review

Hold: M M Forgings Ltd.

Target

IDBI Capital

MM Forgings (MMFG) Q4FY21 result was ahead of our estimates on all parameters. EBITDA margin stood at 19.8% vs our estimates of 16.1% due to lower operating expenses. Currently revenue contribution from export market for MMFG is ~52% whereas NA/European contributes ~20%/22% respectively. We believe NA/European market to recover strongly on the back of strong GDP growth forecast. On Domestic front, we expect domestic CV industry to grow in double digit from multiyear low base due to higher push in Infrastructure and construction activity by Govt. We raise our revenue/EBITDA estimates by 7%/5% and 8%/2% for FY22/FY23 factoring the stronger...

M M Forgings Ltd. has lost -20.43% in the last 3 Months

M M Forgings Ltd.

19 Mar 2021

338.05

-3.84%

Auto Sector Update

Buy: M M Forgings Ltd.

ICICI Securities Limited

actual policy draft is expected to be made public over the next few weeks. The ministry press release states that commercial vehicles beyond 15 years old and that fail to obtain a fitness certificate from automated fitness centres (adhering to global standards), will be de-registered and declared as end of life vehicles. In case of private vehicles, those over 20 years old, and which fail the testing or re-registration will be declared as end of life vehicles. Voluntary scrappage policy or Voluntary Vehicle-Fleet Modernization Programme (VVMP) is aimed at curbing pollution, replacing the existing fleet...

M M Forgings Ltd.'s price crossed below 30Day SMA today

M M Forgings Ltd.

30 Dec 2020

338.05

-3.84%

Buy MM Forgings; target of Rs 530: ICICI Direct

Moneycontrol

ICICI Securities is bullish on MM Forgings recommended buy rating on the stock with a target price of Rs 530 in its research report dated December 30, 2020.

M M Forgings Ltd.'s price crossed below 30Day SMA today

M M Forgings Ltd.

30 Dec 2020

338.05

-3.84%

MM Forgings

Buy: M M Forgings Ltd.

Recommendation Target

ICICI Securities Limited

MMF has come out of a heavy capex cycle (~| 480 crore spent in FY18-20), spent on augmenting tonnage and overall capacity. Expected benefits from demand revival in key markets alongside gradual return to erstwhile margin trajectory makes us turn positive on MMF. Accordingly, we value the company at 15x FY23E EPS of | 35.3/share to arrive at a target price of | 530 (revised from | 330 earlier). We upgrade the stock from HOLD to BUY. We have not included the financials of MMF subsidiary i.e. DVS Industries (FY20...