Mahindra CIE, an auto component manufacturer, posted a disappointing set of numbers in Q1 CY20. Revenues declined on the back of weak demand due to a market slowdown and COVID-19 lockdown. Operating profitability also got impacted due to negative operating leverage. We remain cautious on the company primarily due to its weak near-term outlook. Valuations, however, are at a comfortable level and hence we advise investors to accumulate this in a staggered manner. Quarter snapshot (image) On a consolidated basis, the company...
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