Mahindra & Mahindra (M&M), a passenger, commercial and utility vehicles maker, will be announcing its second quarter financial results on Friday, Oct. 31, 2014.
Angel Broking expects M&M topline growth would be 4% yoy to Rs 89.83 billion. While the volumes would remain flat yoy, realization, vehicle is estimated to grow 3% yoy to Rs 508,102/vehicle. EBIDTA margin is estimated to decline marginally 40 bp yoy to 14.1% on cost pressures.
Higher depreciation and taxation would further impact profitability. We expect net profit to decline 6% yoy to Rs 9.65 billion. Currently we have Buy rating on the stock with a price target of Rs 1,524.
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