Buy Mahindra & Mahindra, target price Rs 1390: Emkay Global

Emkay Global has buy call on Mahindra & . with a target price of Rs 1390. The current market price of Mahindra & Mahindra is Rs 1161.3. Time period given by analyst is one year when Mahindra & Mahindra Ltd. price can reach defined target.

Mahindra & Mahindra Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 144838.15 Crore) operating in Auto sector.

Mahindra & Mahindra Ltd. 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-2021.

Financials

For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 26215.47 Crore, up 10.22 % from last quarter Total Income of Rs 23785.49 Crore and up 20.42 % from last year same quarter Total Income of Rs 21770.81 Crore. Company reported net profit after tax of Rs 2047.75 Crore in latest quarter.

Investment Rationale
The brokerage retains Buy with a higher SOTP value of Rs1,390 (Rs1,250 earlier), as it adds Rs233/sh for the E-PV subsidiary, based on 3.3x FY27E EV/sales, discounted to present value. However, the standalone fair value has reduced by 10% as we factor in the valuation of only ICE-PV business.


Promoter/FII Holdings
Promoters held 19.47 per cent stake in the company as of 31-Mar-2022, while FIIs owned 42.59 per cent, DIIs 23.49 per cent.

(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.

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