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Entry Price

180.00

Target

220.00

Recommend Date

23-02-2021

Return

22.22 %
BUY

Date : 23-02-2021

Mahindra CIE Automotive (MCIE) reported decent Q4CY20 results on the operational front. Consolidated revenues rose 13.6% YoY to | 1,958 crore (India up 14.6%, Europe up 9.4%). EBITDA margins for the quarter were at 12.6% (up 371 bps QoQ). India EBIT margins were up 250 bps QoQ to 9.9%, with Europe margins up 150 bps QoQ to 6.8%. Consolidated PAT was at | 112 crore vs. | 12.6 crore in Q3CY19 (base quarter hit by higher tax outgo, exceptional charge).