BQ Blue'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 BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Mahindra CIE Automotive Ltd.'s strong performance in Q2 CY21 was driven by strong revenue trajectory in India and the Europe, and benefit of cost cutting in the Europe.
Consolidated revenue declined by 6.7% QoQ (up 178% YoY) to ~Rs 20.4 billion in Q2 CY21 (estimate- Rs 18.2 billion), led by a beat in both geographies as there was a 6% QoQ benefit of steel price pass through.
Ebitda margin contracted by 40 basis point QoQ to 12.7% (estimate 12.5%).
India business revenue declined by ~16% QoQ (253% YoY) to ~Rs 9.3 billion (estimate ~Rs 7.8 billion).
Mahindra CIE's revenue from the Europe business grew ~3% QoQ (136% YoY) to ~Rs 11.1 billion (estimate- ~Rs 10.3 billion).
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint 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 BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
