NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
While CIE Automootive India Ltd.'s Q1 CY24 operating performance was in line with our estimates, higher other income drove profit after tax beat. A delay in the ramp-up of orders from the customers’ end hurt revenue growth.
Europe demand remained muted due to overall weakness in the light vehicle market and U.S. off-highway markets.
The stock trades at 20 times/17 times CY24E/CY25E consolidated earnings per share.
Reiterate Buy with a target price of Rs 565 (based on ~18 times March-26E consolidated earnings per share).
Click on the attachment to read the full report:
Also Read: Titan Q4 Results Review - Miss On Profitability; Sustaining Focus On Growth: Motilal Oswal
DISCLAIMER
This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
Polycab India - High Infrastructural Spends To Drive Growth: Nirmal Bang
Jun 06, 2024
CIE Automotive - Steady Compounder; Near-Term Headwinds Are Receding: ICICI Securities
May 31, 2024
EPL Q4 Results Review - Cost Rationalisation, Ramp-Up Of Brazil Business To Drive Earnings: Motilal Oswal
May 29, 2024
Biocon Q4 Results Review - Biosimilar Off-Take, Lower R&D Spending Drive Earnings: Motilal Oswal
May 17, 2024
POPULAR