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Feb 16, 2017, 05.13 PM | Source: Moneycontrol.com

Hold Motherson Sumi; target of Rs 370: ICICI Direct

ICICI Direct recommended hold rating on Motherson Sumi with a target price of Rs 370 in its research report dated February 14, 2017.

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Hold Motherson Sumi; target of Rs 370: ICICI Direct

ICICI Direct recommended hold rating on Motherson Sumi with a target price of Rs 370 in its research report dated February 14, 2017.

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ICICI Direct's research report on Motherson Sumi

MSL’s European subsidiaries (SMR + SMP) posted a strong operating performance. EBITDA margins of SMR improved from >5% in FY12 to 10.5% in FY16 while SMP’s margins improved from 2% in FY12 to 6.6% in FY16. We continue to believe that margin expansion on a YoY basis is likely to continue for its subsidiaries.

Outlook

MSL’s competence in turning around businesses is evident from the success of SMR & SMP. The management’s strong focus on RoCE augurs well for its performance. We remain positive on the long term perspective. We value MSL on an SOTP basis with a target price of Rs 370 & maintain HOLD rating on the stock.

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The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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Hold Motherson Sumi; target of Rs 370: ICICI Direct

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