MM Forging Q1 Review - Strong Performance; Outlook Remains Positive: IDBI Capital
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.
IDBI Capital Report
MM Forgings Ltd.'s Q1 FY22 result was ahead of our estimates on all parameters.
Ebitda margin stood at 18.1% versus our estimates of 16.7% due to lower operating cost.
We expect exports to be robust for MM Forging on the back of strong North America and Europe growth outlook.
Domestic commercial vehicle market is expected to show strong recovery from multiyear low base on the back of picking up of economic activities like mining, logistics, infrastructure construction.
With easing of lockdown, the fleet utilisation is expected to grow along with better freight which will boost the demand for vehicles.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint 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 BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.