External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

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Equity Bottom-Up

Mahindra Cie Automotive / Equity Bottom-Up

<ul><li>New order wins in EVs/hybrids; Focus on energy cost pass on to customers MACA's weak performance in 4QCY21 was reflection of high RM/energy cost and operating deleverage in both geographies.</li><li>It is negotiating with customers to pass on hyper inflation in energy prices.</li><li>We cut our CY22E EPS estimates by 3.5% to account for margin pressures across both geographies and maintain CY23E EPS estimates.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

New order wins in EVs/hybrids; Focus on energy cost pass on to customers MACA's weak performance in 4QCY21 was reflection of high RM/energy cost and operating deleverage in both geographies.It is negotiating with customers to pass on hyper inflation in energy prices.We cut our CY22E EPS estimates by 3.5% to account for margin pressures across both geographies and maintain CY23E EPS estimates.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Margins impacted by RM Cost and operating deleverage

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

<p>About the stock: Mahindra CIE (MCI), part of the Spain-based CIE Automotive Group, is a multi-technology, multi-product automotive component supplier.</p><ul><li>CY20 consolidated revenue mix – Europe 52%, India 48%</li><li>Forging is ~63% of consolidated sales (89% in Europe). India mix is more diversified; includes 25% from aluminium, 18%- stampings &amp; 11%- castings</li><li>In India it derives 40%, 32%, 16%, 5% of sales from PV, 2-W, tractors, M&amp;HCV, respectively</li><li>In Europe it derives 48%, 42%, 10% of sales from PV, MHCV, Off highway, respectively</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

About the stock: Mahindra CIE (MCI), part of the Spain-based CIE Automotive Group, is a multi-technology, multi-product automotive component supplier.CY20 consolidated revenue mix – Europe 52%, India 48%Forging is ~63% of consolidated sales (89% in Europe). India mix is more diversified; includes 25% from aluminium, 18%- stampings &amp; 11%- castingsIn India it derives 40%, 32%, 16%, 5% of sales from PV, 2-W, tractors, M&amp;HCV, respectivelyIn Europe it derives 48%, 42%, 10% of sales from PV, MHCV, Off highway, respectivelyContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Mahindra CIE Automotive: Renewed Focus on Growth, Margins, Capital Efficiency

India

Mahindra CIE Automotive Limited designs, manufactures, installs, and repairs automotive components. The Company manufactures automotive components including engine and steering components as well as various other forged metal products.

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Mahindra Cie Automotive (MACA IN)

Margins impacted by RM Cost and operating deleverage

New order wins in EVs/hybrids; Focus on energy cost pass on to customers MACA's weak performance in 4QCY21 was reflection of high RM/energy...

Motilal Oswal

Mahindra CIE Automotive: Renewed Focus on Growth, Margins, Capital Efficiency

Mahindra CIE (MCI), part of the Spain-based CIE Automotive Group, is a multi-technology, multi-product automotive component supplier.

ICICI Securities Limited

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Margins impacted by RM Cost and operating deleverage

New order wins in EVs/hybrids; Focus on energy cost pass on to customers MACA&#x27;s weak performance in 4QCY21 was reflection of high RM/energy...

Motilal Oswal

Mahindra CIE Automotive: Renewed Focus on Growth, Margins, Capital Efficiency

Mahindra CIE (MCI), part of the Spain-based CIE Automotive Group, is a multi-technology, multi-product automotive component supplier.

ICICI Securities Limited

New order wins in EVs/hybrids; Focus on energy cost pass on to customers MACA's weak performance in 4QCY21 was reflection of high RM/energy...