Mahindra CIE Share Price Target Forecast 2022, 2023, 2025, 2030

18 OCTOBER 2021

ICICI Direct recommends Mahindra CIE with a share price target of Rs 330.

In its research report dated October 17, 2021, ICICI Direct is bullish on Mahindra CIE, recommending a buy rating on the company with a target price of Rs 330.

Mahindra CIE (MCIE), a multi-technology, multi-product automotive component supplier established in Spain, is part of the CIE Automotive Group. Europe accounts for 52 percent of consolidated revenue in CY20, while India accounts for 48 percent (89 percent in Europe).

India’s composition is more broad; it includes 25% aluminium stampings, 18% aluminium stampings, and 11% aluminium castings. PV, 2-W, Tractor, M&HCV, and Off Highway correspondingly account for 40 percent, 32 percent, 16 percent, and 5 percent of sales in India, whereas PV, MHCV, and Off Highway accounts for 48 percent, 42 percent, and 10 percent of sales in Europe.

Outlook

We continue to expect margin expansion and purchase at reasonable prices. Price MCIE at 10x Average CY22E-CY23E EV/EBITDA for Revised Target of Rs.330 (Earlier Target: Rs.290)

Moneycontrol.com is the source for this information.


18 OCTOBER 2021

Motilal Oswal has a price target of Rs 300 for Mahindra CIE.

Motilal Oswal has recommended a buy rating on Mahindra CIE recommended shares with a target price of Rs 300 in its research report dated October 15, 2021.

MACA’s good performance in 3QCY21 was fueled by a solid revenue trend in its India business, but chip shortages and adverse exchange rates hurt its EU operations.
The new order for EVS protects the company’s ICE-dependent portfolio from future revenue declines. Despite a strong performance in 3QCY21, we retain our EPS expectations, owing to the impact of the semiconductor scarcity. We keep our Buy recommendation.

Outlook

Any large order win or EV portfolio expansion can be used as a re-rating factor. The stock is valued at 16.9x/13.9x consolidated EPS in CY21E/CY22E. With a target price of INR300/share (15x Sep’23E Consolidated EPS), we retain our Buy rating.

Moneycontrol.com is the source for this information.


NOVEMBER 27, 2019

The share price of Mahindra CIE has increased by 4% as HSBC maintained its buy rating.

Mahindra CIE Automotive’s shares surged 4% intraday on November 27 as global research company HSBC maintained a buy call on the stock but lowered its target price to Rs 230 per share from Rs 300.

End-market demand, according to the business, has fallen sharply in recent months, but major segments are expected to improve in the short term.

For CY19-21, HSBC forecasts an earnings CAGR of nearly 22%. It has kept its buy recommendation due to the company’s low valuations and solid long-term narrative.

Moneycontrol.com is the source for this information.


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