Sharekhan's research report on Mahindra & Mahindra Financial Services
Company showcased its technology capabilities, which would gradually help to deliver sustainable and predictable performance going ahead unlike in the past, where business clocked volatile performance. Company remains confident of the asset quality in the downturn cycle as well, led by calibrated efforts undertaken after COVID-19. The company is guiding for sustainably delivering RoE of ~15% in the near term while 18% RoE remains an aspirational target over the medium to long term.
Outlook
Stock trades at 1.8x/ 1.6x its FY2025E/FY2026E BV estimates, respectively. We maintain Buy with an unchanged PT of Rs. 345.
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