Moneycontrol PRO
HomeNewsBusinessStocksBuy Motherson Sumi Wiring India; target of Rs 80: Emkay Global Financial

Buy Motherson Sumi Wiring India; target of Rs 80: Emkay Global Financial

Emkay Global Financial is bullish on Motherson Sumi Wiring India has recommended buy rating on the stock with a target price of Rs 80 in its research report dated May 16, 2024.

May 17, 2024 / 13:58 IST
BUY

BUY

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Emkay Global Financial's research report on Motherson Sumi Wiring India

MSUMI reported another quarter of strong performance, with revenue /EBITDA/PAT growth of 20%/39%/38% YoY. Continued premiumization trend (incl. SUV shift) and electrification have been key growth drivers, per Management. Backed by new order wins in both, ICE and EVs, MSUMI is adding 2 more facilities with up to 15% capacity rise and production starting from 1QFY25 (major ramp up 2HFY25 onwards). With market-share loss within MSIL now behind (Exhibit 3), break-through in 2 large SUV-focused OEMs and the EV-shift will help sustain the robust performance (even as PV industry growth is moderating).

Outlook

We expect 21%/28%/33% rev./EBITDA/PAT CAGR over FY24- 26E. We maintain BUY with unchanged TP of Rs80/sh, at 30x FY26E PER (refer to our report, Strong proxy play on PVs).

For all recommendations report, click here

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

Motherson Sumi Wiring India - 17052024 - emkay

Broker Research
first published: May 17, 2024 01:54 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

  • On Saturdays

    Find the best of Al News in one place, specially curated for you every weekend.

  • Daily-Weekdays

    Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347