Sharekhan's research report on Mahindra and Mahindra
Mahindra & Mahindra Limited (M&M) is strategically aiming to strengthen positioning in the overseas market via the introduction of global products. The company unveiled OJA (tractor platform), Thar.e (electric SUV) and Global PikUp (pick up vehicle) to cater to domestic as well as export markets.
Outlook
We continue to maintain our Buy rating on M&M with a revised SOTP-based PT of Rs. 1,736 due to a healthy order book in the PV segment, market leadership in the tractor segment, opportunity to grow in the farm machinery segment, and its road map to play in the EV space. The stock trades at a P/E multiple of 17.1x and EV/EBITDA multiple of 10.6x its FY2025E estimates.
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