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Buy Mahindra and Mahindra; target of Rs 900: Motilal Oswal

Motilal Oswal is bullish on Mahindra and Mahindra recommended buy rating on the stock with a target price of Rs 900 in its research report dated August 11, 2021.

August 19, 2021 / 02:14 PM IST
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Motilal Oswal's research report on Mahindra and Mahindra

Mahindra & Mahindra (MM)’s FY21 Annual Report highlights that the company has reoriented its focus on growth after tightening its capital allocation policies. Besides listing out the priority areas for the Auto and Farm Equipment Sector (FES) businesses, it explains future growth areas for farm mechanization and shared mobility/logistics. Key insights from the Annual Report are highlighted below. Focus shifts to generating growth after recalibrating capital allocation: Post the successful execution of the ‘Reboot’ strategy, targeting the tightening of capital allocation, MM has shifted its focus to accelerating growth with clearly laid out strategies for the Auto, Farm, Financial Services, and IT Services businesses.


Implied Core P/E for MM stands at ~10.2x FY23E S/A EPS and 1.3x Core P/BV. Our Mar’23E-based SOTP Target Price is ~INR900/share (implied Core P/E at ~12.9x at TP). Maintain Buy.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Aug 19, 2021 02:14 pm

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