Mahindra CIE Automotive Q1 Review - Business Outlook Remains Strong: ICICI Securities
Tools for manufacturing gears are seen on the production line of a factory. (Photographer Tomohiro Ohsumi/Bloomberg)

Mahindra CIE Automotive Q1 Review - Business Outlook Remains Strong: ICICI Securities

BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Mahindra CIE Automotive Ltd.'s Q1 CY21 operating margins were a beat on consensus expectations driven by faster improvement across Europe and India.

Key takeaways from call:

  1. Management is hopeful of exports growing to approximately 20% of overall sales (~11-12% currently).

  2. Growth to remain ahead of industry on the back of new customers and new programs ramp-up.

  3. Margin outlook across both India and Europe is strong; expect to improve from Q1 position.

Click on the attachment to read the full report:

ICICI Securities Mahindra_CIE Q1CY21 Concall Update.pdf

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