Buy Mahindra & Mahindra, target price Rs 1590: ICICI Direct

ICICI Direct has buy call on Mahindra & Mahindra with a target price of Rs 1590. The current market price of Mahindra & Mahindra is Rs 1323.2.

Mahindra & Mahindra, incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 163044.70 Crore) operating in Auto sector.

Mahindra & Mahindra key Products/Revenue Segments include Automobile-Light, Medium & Heavy Commercial, Jeep, Passenger Car, Sale of services, Scrap, Other Operating Revenue for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 30076.98 Crore, up 5.06 % from last quarter Total Income of Rs 28628.39 Crore and up 38.37 % from last year same quarter Total Income of Rs 21735.96 Crore. Company has reported net profit after tax of Rs 2585.85 Crore in latest quarter.

The company’s top management includes Mr.Keshub Mahindra, Mr.Haigreve Khaitan, Ms.Shikha Sharma, Mr.T N Manoharan, Dr.Vishakha N Desai, Mr.Muthiah Murugappan, Ms.Nisaba Godrej, Mr.Vikram Singh Mehta, Mr.C P Gurnani, Mr.Rajesh Jejurikar, Dr.Anish Shah, Mr.Anand G Mahindra, Mr.Vijay Kumar Sharma. Company has B S R & Co. LLP as its auditors. As on 31-12-2022, the company has a total of 124 Crore shares outstanding.

Investment Rationale
The company is focused on prudent capital allocation, UV differentiation & EV proactiveness.