Motilal Oswal: M&M Q2 Review - Best-Ever Margins Led By Farm Equipment Sector; Exiting Aerospace
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Motilal Oswal Report
Mahindra & Mahindra Ltd.’s Q2 FY21 earnings were driven by strong performance in the tractor business and steady recovery in autos.
Further, it announced exit from the aerospace business, which had losses of Rs 3-4 billion in FY20.
While the company’s core business would recover faster, focus on tightening capital allocation could act as a re-rating catalyst.
Hence, we see twin levers of earning per share growth and re-rating.
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