Mahindra CIE Automotive, incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 13264.73 Crore) operating in Auto Ancillaries sector.
Mahindra CIE Automotive key Products/Revenue Segments include Automotive Accessories, Other Operating Revenue and Sale of services for the year ending 31-Dec-2021.
Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 2271.23 Crore, down -17.02 % from last quarter Total Income of Rs 2736.95 Crore and up 9.12 % from last year same quarter Total Income of Rs 2081.39 Crore. Company has reported net profit after tax of Rs -658.20 Crore in latest quarter.
The company’s top management includes Mr.Shriprakash Shukla, Mrs.Roxana Meda Inoriza, Mr.Kadambi Narahari, Mr.Suhail A Nathani, Mr.Manoj Maheshwari, Mr.Dhananjay Mungale, Mr.Puneet Renjhen, Mr.Jesus Maria Herrera Barandiaran, Mr.Manoj Menon, Mr.Anil Haridass, Mr.Ander Arenaza Alvare, Mr.Alan Savio D Silva Picardo. Company has Price Waterhouse Chartered Accountants LLP as its auditors. As on 31-12-2022, the company has a total of 38 Crore shares outstanding.
Investment Rationale
The company is looking forward to sustainable EBITDAM of ~17-18% in India and ~16-17% in EU, resulting in consolidated EBITDAM of ~17% ahead. With lower margin truck forging business moving out of operations in EU and power costs rationalising back, EU margin is set to revive towards ~16-17% in CY23, the brokerage believes.
For India, productivity improvement is the key margin driver ahead other than gradual reversal in gross margin, to take EBITDA up from current ~15% to ~17-18% in CY23-25. Promoter/FII Holdings
Promoters held 74.96 per cent stake in the company as of 31-Dec-2022, while FIIs owned 7.29 per cent, DIIs 7.47 per cent.
(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Education News Click Here
For the latest news and updates, follow us on Google News.
