Tuesday, April 28, 2020

Mahindra CIE Automotive Ltd – Q1 CY 2020 Results & Valuations

Mahindra CIE Automotive Ltd  is trading at  59.0  with  a  Gain     of    +5.0 %   on    28-April-2020   at the time of publishing this report.
The Company has posted has posted Sales of Rs.1662.71 cr and seen decline of  -25% YoY and -3.5% QoQ . The Net Profit is Rs.20.79 with  Decline of -86% yoY and  increase of ++49% QoQ.
Concern : 1. Forex loss of Rs 45.4 crore due to impact of a sharp depreciation in Peso on $26 million loan at Bill Forge Mexico.
Strength : 1. MF has increased investment to 6.75% from 6.52% and FII has increased  holdings from 14.04% to 14.85% in March 2020.
Valuations : We are expecting that company will  post a consolidated sales of Rs.7280 Cr in  CY2021 with Net Profit of Rs.410 Cr.
Cos. Is now Trading at  X1 of its Value and if we consider the Next Year earnings , it is  valued at  X0.47 , which almost ~53% discount to the present value.
Disclaimer : We are / may going to take exposure shortly.
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