ICICI Direct's research report on Motherson Sumi
Motherson Sumi (MSS) primarily serves global PV industry with wiring harnesses, vision systems (mirrors) & plastic body parts as key product lines. History of successful turnarounds in acquisitions and inorganic-led growth SMRPBV order book was at €15.6 billion as of FY21
Outlook
We retain BUY rating on global PV premiumisation play, EV neutral products We value MSS at 30x P/E on FY23E basis for a revised target price of Rs 270 (earlier Rs 300).
For all recommendations report, click here
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