Mahindra CIE: A decent show in Q3 CY21, valuation attractive
Demand in both India and Europe continues to be strong and the performance of Mahindra CIE is set to improve, with the likely easing of chip shortage. Further, the EV space provides huge opportunities. The company can beat industry growth
October 18, 2021 / 10:20 AM IST
Mahindra CIE Automotive | Company reported profit at Rs 60.7 crore in Q3CY20 against Rs 61.17 crore YoY, revenue fell to Rs 1,694.3 crore from Rs 1,868.5 crore YoY. (Image: mahindracie.com)
PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook
Riding on the strong demand recovery in both domestic and international markets, Mahindra CIE (CMP: Rs 251, MCap: Rs 9,500 crore), an auto component manufacturer, posted decent set of numbers for Q3 CY21. India business outperformed on the recovery in demand, post the second wave of COVID. Europe business, however, struggled on semiconductor shortage.
Demand in both India and Europe continues to be strong and the performance of the company is set to improve, with the easing of chip shortage....