M&M Q4 Review - Auto Business To Drive Growth As Tractors Growth Moderate: Motilal Oswal

Employees assemble components to a Mahindra & Mahindra Ltd. Bolero SUV on the production line at the company’s facility in Chakan, Maharashtra, India. (Photographer: Udit Kulshrestha/Bloomberg).

M&M Q4 Review - Auto Business To Drive Growth As Tractors Growth Moderate: Motilal Oswal

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.

Motilal Oswal Report

Mahindra and Mahindra Ltd.’s Q4 FY21 performance was driven by higher realisations in the auto segment and cost savings.

While growth in tractors is slowing down after robust growth in FY21, the auto segment is expected to see strong momentum in both light commercial vehicles and sports utility vehicles (led by new products and easing of supply issues).

We cut our FY22E/FY23E earnings per share estimate by 5%/2% to account for sales loss due to the ongoing lockdown.

Click on the attachment to read the full report:

Motilal Oswal M&M Q4FY21 Result Update.pdf

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