M&M Q2 Review - Focus Shifts To Automotive Segment: Systematix

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..Systematix Research Report.Mahindra and Mahindra Ltd.’s Q2 FY22 Ebitda margin was in line with our estimates as raw material inflation and the weak mix was offset by a sharp increase in average selling price. Tractor segment Ebit margin came in at 18.7% (dwon 570 basis points YoY) while the automotive segment was at 2.7% (down 380 bps YoY). In the automotive segment, the company has seen decent success in new product launches and has an order book of over 160,000. Supply chain constraints have restricted production, and the management expects these constraints to continue. M&M plans to launch multiple electric vehicles over the next five years starting with two new models in FY23 (E-KUV and E-XUV 300). The management expects the tractor industry to see flat to low single-digit growth in FY22 and we remain skeptical about the growth beyond FY22E as it nears its cyclical peak. .Click on the attachment to read the full report:.DISCLAIMERThis 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.

M&M Q2 Review - Focus Shifts To Automotive Segment: Systematix

M&M Q2 Review - Focus Shifts To Automotive Segment: Systematix

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