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    Mahindra CIE: A strong show in Q1CY22; valuation attractive

    Demand in both India and Europe continues to be strong, and the performance of the company is set to improve, with early signs of chip shortage easing.

    Nitin Agrawal
    April 27, 2022 / 09:50 AM IST
    Mahindra CIE: A strong show in Q1CY22; valuation attractive

    Mahindra CIE Automotive

    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

    Driven by a strong recovery after the pandemic, Mahindra CIE (CMP: Rs 226; Market Cap: Rs 8,470 crore), an auto component manufacturer, has posted a strong set of numbers for Q1CY22. Both India and Europe businesses performed well. Demand in both India and Europe continues to be strong, and the performance of the company is set to improve, with early signs of chip shortage easing. Further, the electric vehicle (EV) space provides huge opportunities. We feel the company can outperform...

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