Name: Latest research reports of Mahindra & Mahindra Ltd. authored by Motilal Oswal and published by - Trendlyne research reports.
Item: Mahindra & Mahindra Ltd.
Rating: 5
Author: Motilal Oswal

Summary	Date	Stock	Author	LTP	Target	Price at reco (Change since reco%)	Upside(%)	Type	Report	Discuss
	15 Sep 2025	Mahindra & Mahindra	Consensus Share Price Target	3589.90	3791.00	-	5.60	buy	pdf Detailed Estimates
	05 Aug 2023	Mahindra & Mahindra	Motilal Oswal Target	3589.90	1725.00	1464.65 (145.10%)	Target met	Buy	pdf post cache	Broker Report Above est.; operating leverage aids margin expansion Motilal Oswal pdf Copy Link Share on Share on Share on Share on Alert
	20 Jun 2023	Mahindra & Mahindra	Sharekhan	3589.90	1550.00	1396.45 (157.07%)	Target met	Buy	pdf post cache	Broker Report M&M Sharekhan pdf Copy Link Share on Share on Share on Share on Alert
	31 May 2023	Mahindra & Mahindra	Geojit BNP Paribas Target	3589.90	1486.00	1319.00 (172.17%)	Target met	Buy	pdf post cache	Broker Report MAHINDRA AND MAHINDRA LIMITED Geojit BNP Paribas pdf Copy Link Share on Share on Share on Share on Alert
	30 May 2023	Mahindra & Mahindra	BOB Capital Markets Ltd. Target	3589.90	1665.00	1328.45 (170.23%)	Target met	Buy	pdf post cache	Broker Report Mahindra & Mahindra (BUY): Healthy performance; strong show to continue BOB Capital Markets Ltd. Robust Q4 volume growth of 22% YoY despite slow tractor sales; prudent product mix aids realisation gains of 13% pdf Copy Link Share on Share on Share on Share on Alert
	29 May 2023	Mahindra & Mahindra	Prabhudas Lilladhar Target	3589.90	1585.00	1330.15 (169.89%)	Target met	Buy	pdf post cache	Broker Report MAHINDRA & MAHINDRA Prabhudas Lilladhar pdf Copy Link Share on Share on Share on Share on Alert
	28 May 2023	Mahindra & Mahindra	ICICI Direct Target	3589.90	1600.00	1281.85 (180.06%)	Target met	Buy	pdf post cache	Broker Report Mahindra & Mahindra ICICI Direct pdf Copy Link Share on Share on Share on Share on Alert
	27 May 2023	Mahindra & Mahindra	Motilal Oswal Target	3589.90	1500.00	1281.85 (180.06%)	Target met	Buy	pdf post cache	Broker Report In-line; SUV order book grows despite rise in production Motilal Oswal pdf Copy Link Share on Share on Share on Share on Alert
	27 May 2023	Mahindra & Mahindra	ICICI Securities Limited Target	3589.90	1478.00	1281.85 (180.06%)	Target met	Buy	pdf post cache	Broker Report Gradual improvement in profitability continues ICICI Securities Limited Mahindra & Mahindra’s (M&M) Q4FY23 EBITDA margin at 12.4% (-60bps QoQ) was ~30bps lower than consensus as FES segment margin remained flat QoQ other than lower FES segment revenue mix QoQ. Automotive segment revenue increased 11% QoQ to Rs164bn, and FES revenue fell 11% QoQ to Rs55bn. pdf Copy Link Share on Share on Share on Share on Alert
	26 May 2023	Mahindra & Mahindra	Sharekhan Target	3589.90	1550.00	1281.85 (180.06%)	Target met	Buy	pdf post cache	Broker Report M&M Sharekhan pdf Copy Link Share on Share on Share on Share on Alert
	28 Mar 2023	Mahindra & Mahindra	ICICI Securities Limited Reco Target	3589.90	1386.00	1128.30 (218.17%)	Target met	Buy	pdf post cache	Broker Report Near-term challenges priced in ICICI Securities Limited Mahindra & Mahindra (M&M) has corrected ~20% in the past couple of months due to fears of El Nino impacting tractor demand in FY24 along with receding waiting period of its UV portfolio. In the past 15 years, on four occasions of El Nino, tractor volume declined by an average of ~12%. Thus, we are building in 12% tractor volume decline for M&M in FY24 as against our earlier estimate of ~6% growth. pdf Copy Link Share on Share on Share on Share on Alert
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Mahindra & Mahindra Ltd. share price target

Mahindra & Mahindra Ltd. has an average share price target of 3504.40. The consensus estimate represents a downside of -2.38% from the last price of 3589.90. View 22 reports from 10 analysts offering long-term price targets for Mahindra & Mahindra Ltd..

Above est.; operating leverage aids margin expansion

M&M

MAHINDRA AND MAHINDRA LIMITED

Mahindra & Mahindra (BUY): Healthy performance; strong show to continue

MAHINDRA & MAHINDRA

Mahindra & Mahindra

In-line; SUV order book grows despite rise in production

Gradual improvement in profitability continues

M&M

Near-term challenges priced in

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