Motilal Oswal: Mahindra CIE - Revenue Below Estimates; Weak Operating Performance In India, Europe  

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Motilal Oswal Report

Mahindra CIE Automotive Ltd.'s adverse operating performance in Q3 CY20 was attributable to weaker revenue in India and restructuring cost in EU.

While it is focusing on new orders/exports in India, it is also cutting cost to reduce breakeven points for the EU business.

We marginally cut our CY21E earnings per share to factor in lower revenue growth.

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