Mahindra And Mahindra - In A Sweet Spot, Upgrade To 'Buy': Yes Securities

NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Yes Securities Report.Key verticals of Mahindra and Mahindra Ltd. - tractors and sports utility vehicles seem all set to fire in sync. Our checks across key regions reveal vastly improved agri sentiments led by multiple factors (favorable monsoon, better cash crop realisation, and improved sowing YoY), which should collectively boost tractor volumes. We expect M&M to maintain large part of recent market share gains, led by new launches in lightweight segment (OJA and Swaraj). Within passenger vehicles, successful launches of Thar Roxx and XUV 3XO should drive industry outperformance; the consequent Thar portfolio contribution uptick (~18.4% by FY26E versus 12.5% in FY H1 FY25E) should enhance model mix and likely margins. We stay watchful of the CAFÉ norm impact even though M&M’s EV strategy is in place. We build in a SUV volume CAGR of ~15.4% over FY24-27E with overall revenue/Ebitda/adjusted profit after tax compound annual growth rate of 13.4%/17.5%/13.3% and upgrade the stock to Buy with a Mar’27 SOTP-based target price set at 3,707 (versus the prior Rs 3,347). M&M trades at implied core PE of 23.2 times/21 times FY26E/FY27E EPS, making it an attractive bet..Click on the attachment to read the full report:.Tech Mahindra Share Price Rises Over 4% As Q2 Profit Beats Estimates.DISCLAIMERThis report is authored by an external party. NDTV Profit 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 NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Mahindra And Mahindra - In A Sweet Spot, Upgrade To 'Buy': Yes Securities

The brokerage revises target price of Rs 3,707 based on Mar-27E SOTP.

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Mahindra And Mahindra - In A Sweet Spot, Upgrade To 'Buy': Yes Securities

The brokerage revises target price of Rs 3,707 based on Mar-27E SOTP.

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