While M&M has outperformed its own targets of earnings growth and RoE of 18% in FY24, it remains committed to delivering 15-20% EPS growth and 18% ROE, ensuring sustained profitability and shareholder value.
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Motilal Oswal Report
Mahindra and Mahindra Ltd. reported an in-line operating performance in Q3 FY25. Ebitda margin expanded 160 basis points YoY to 14.6% (estimate: 14.2%) led by improved mix. The Farm Equipment Segment’s core PBIT margin stood at an impressive 18.1% (+260 bp YoY), while the auto segment’s margin expanded 120bp YoY to 9.7%.
We believe M&M is well placed to outperform across its core businesses, driven by a healthy recovery in rural and new product launches in both utility vehicles and tractors. We largely maintain our FY26E/27E EPS. Reiterate Buy with a target price of Rs 3,675 (based on Dec’26E SOTP).
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. Read more on Research Reports by NDTV Profit.Motilal Oswal believes M&M is well placed to outperform across its core businesses, driven by a healthy recovery in rural and new product launches in both utility vehicles and tractors. Read MoreResearch Reports
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