Motilal Oswal is bullish on Motherson Sumi has recommended buy rating on the stock with a target price of Rs 170 in its research report dated February 11, 2019.
Motilal Oswal's research report on Motherson Sumi
Consol. revenue grew 14.5% YoY to INR165b (our estimate: INR169b), driven by the Reydel acquisition, PKC (+8% YoY in USD terms) and currency tailwinds. S/A revenue declined 4% YoY, led by slowdown in the domestic auto industry and the lagged impact of copper price pass-through. SMP revenue was down ~2.6% YoY in EUR terms (like-to-like) due to the WLTP impact.
The stock trades at 17.6x/15.6x FY20E/21E consol. EPS. Maintain Buy with a target price of INR170 (20x Mar’21E consol. EPS).
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