Buy Mahindra & Mahindra, target price Rs 3,420: Motilal Oswal Financial Services
buy call on Mahindra & Mahindra with a target price of Rs 3,420. The current market price of Mahindra & Mahindra is Rs 2923.15. Mahindra & Mahindra, incorporated in 1945, is a Large Cap company with a market cap of Rs 363694.88 crore, operating in the Auto sector.
Mahindra & Mahindra's key products/revenue segments include Automobile-Light, Medium & Heavy Commercial, Jeep, Passenger Car, Sale of services, Other Operating Revenue for the year ending 31-Mar-2024.
Financials For the quarter ended 30-09-2024, the company has reported a Consolidated Total Income of Rs 38582.96 crore, up 2.54% from last quarter Total Income of Rs 37626.49 crore and up 10.15% from last year same quarter Total Income of Rs 35027.23 crore. The company has reported net profit after tax of Rs 2894.71 crore in latest quarter.
Investment Rationale
Motilal Oswal Financial Services estimates Mahindra & Mahindra to post a CAGR of ~13%/16%/15.5% in revenue/EBITDA/PAT over FY24-27E. While M&M has outperformed its own targets of earnings growth and RoE of 18% in FY24 (18.9% in 1HFY25), it remains committed to delivering 15-20% EPS growth and 18% ROE, ensuring sustained profitability and shareholder value. The implied core P/E for M&M stands at 30.1x/25.9x FY25E/FY26E EPS. The brokerage maintains a BUY call.
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