Mahindra CIE poised to outperform industry growth
For the India business of Mahindra CIE, demand is shaping up post the second wave and the second half of the year is expected to get better
July 26, 2021 / 10:29 AM IST
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
Mahindra CIE (CMP: Rs 244.6, Mcap: Rs 9,250 crore), an auto component manufacturer, has posted a decent set of numbers for Q2CY21 amid the second wave of Covid-19. The India business under-performed compared to the Europe business due to lockdown restrictions. Operating margin got impacted due to negative operating leverage.
For the India business, demand is recovering post the second wave of Covid and the second half of the year is expected to be better. The EU business is also...