Fundamental Result Update

M&M - Q2FY18 Result Update



M&M Q2FY18 Revenue: Standalone Net Revenues stood at Rs. 12,182 crore an increase of 14 % YoY. 1,29,752 vehicles were sold in domestic market, YoY growth of 11.8%. 76,928 tractors were sold in the domestic market, YoY growth of 33%. Total exports were 11757 units (Both Vehicles and tractors).

Valuation: We value M&M based on SoTP valuations and we have a “BUY” rating on the stock. We value the core business at Rs 1323 per share, based on 16 (x) FY19E PE(x) based on EPS of Rs 82.7. We have valued total investments (listed and unlisted) at Rs 426 per share, with a holding company discount of 30%. Our SoTP value for stock comes at Rs 1,749 per share.

 


Tags: FundamentalResult Update M&M


Search Reports

SEARCH

Reports

Daily Currency Market...

HIGHLIGHTS: The dollar slid...

Read More

Daily Metal & Agro Buzz:

HIGHLIGHTS: Gold prices...

Read More

Daily Market Update...

On 16/07/2018 markets opened...

Read More

Daily Currency Market...

HIGHLIGHTS: The dollar...

Read More

Daily Market Update...

Sensex ended with net gains...

Read More

VOLTAS

 SHORT TERM TRADING CALL...

Read More

HAVELLS

POSITIONAL CALL: BUY HAVELLS...

Read More

EXIDE

POSITIONAL CALL: BUY EXIDE AT...

Read More

BHARATFORG

SHORT TERM TRADING CALL: BUY...

Read More

M&M

POSITIONAL CALL: BUY M&M...

Read More

Subscribe to newsletter

Request a call back

DISCLAIMER: Investment in markets is subject to market risk, the views and investment tips expressed by our research entity on arihantcapital.com are product of their own. Whilst meticulous care has been taken to ensure that the facts stated are accurate and opinions given are fair and reasonable, neither the analyst nor any employee of our company is in any way is responsible for its contents and nor is its accuracy or completeness guaranteed. ArihantCapital.com offers the views and opinions for assistance only and these are not intended and must not be alone taken as the basis for an investment decision. We advise the users to check with certified experts before taking any investment decisions. The investments discussed in this material may not be suitable for all investors. The recipient alone shall be fully responsible/are liable for any decision taken on the basis of this material.