M&M’s recently unveiled XUV 3XO and Thar Roxx have received a healthy response. The company will continue to maintain a robust launch pipeline in the long run, targeting seven ICE SUVs (two mid-cycle enhancements), five BEVs, and five light commercial vehicles (two of which will be EVs) by 2030.
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Motilal Oswal Report
We believe Mahindra and Mahindra Ltd. is well-placed to outperform across its core businesses, led by a healthy recovery in rural and new product launches in both utility vehicles and tractors.
We estimate M&M to post a CAGR of ~14%/13%/16% in revenue /Ebitda/PAT over FY25-27E.
While M&M has outperformed its own targets of earnings growth and RoE of 18% in FY24, it remains committed to delivering 15-20% EPS growth and 18% ROE, ensuring sustained shareholder value.
Reiterate Buy with a target price of Rs 3,643 (based on June27E SoTP).
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Also Read: Ola Electric Q1 Results Review: Street Divided Despite Profit, Margin Improvement — Here's Why
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