CMP: ₹1,315.40
The corporate has reported 4.1 per cent y-o-y progress in income in Q4FY24, and rise in working revenue by about 18 per cent (y-o-y), to ₹75.26 crore from ₹64.01 crore in This fall-FY23. The income of MM Forgings grew by 8.1 per cent in FY24 to ₹1,527.08 crore from ₹1,412.78 crore in FY23.
The yr noticed a better abroad demand main to fifteen per cent surge in exports as in comparison with final yr. The home enterprise contributed about 65 per cent to the income.
Contribution of merchandise in income combine being 81 per cent from industrial automobile, 10 per cent from passenger automobile and relaxation from off-highway.
The inventory is at present buying and selling at 17.7x FY25 EPS of ₹71.81 and 16.2x FY26 EPS of ₹78.35. The corporate anticipates a progress of practically 10 per cent in each home and export gross sales in FY25. Value optimisation and product diversification could be seen as main income progress drivers going forward.
Worth addition would play a key position as investments in machining are being ramped up; although spasmodic nature of CV trade wants little mentioning. MMFL is pulling over all stops to spice up exports.
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