{"id":7241,"date":"2015-04-09T17:21:33","date_gmt":"2015-04-09T11:51:33","guid":{"rendered":"https:\/\/blog.fundsindia.com\/blog\/?p=7241"},"modified":"2015-04-17T18:14:19","modified_gmt":"2015-04-17T12:44:19","slug":"mahindra-cie-automotive-ltd-mahindra-cie","status":"publish","type":"post","link":"https:\/\/fundsindia.com\/blog\/equities\/mahindra-cie-automotive-ltd-mahindra-cie\/7241","title":{"rendered":"Mahindra CIE Automotive Ltd (Mahindra CIE)"},"content":{"rendered":"<p style=\"text-align: justify;\">Mahindra CIE Automotive Ltd (Mahindra CIE) is an automotive component\u00a0supplier, formed by the alliance of CIE Automotive, a Spanish automotive\u00a0component major and Mahindra &amp; Mahindra\u2019s (M&amp;M) Systech division. The\u00a0company is engaged in the business of manufacturing forged and machined\u00a0products for automotive, agriculture, railway, mining, construction and\u00a0other industries. With a presence across Latin America, Europe and India,\u00a0Mahindra CIE is one of the world\u2019s largest forgers.<\/p>\n<div class=\"blog-highlight\" style=\"clear: both; background: #2baae2; border: none; width: 60%; text-align: center; box-shadow: 0 5px 5px rgba(0, 0, 0, 0.5);\"><a style=\"text-decoration: none;\" href=\"http:\/\/www.fundsindia.com\/content\/jsp\/LP\/equity\/equities1.do?ref=blog-button\" target=\"_blank\"> <span style=\"color: #fff; font-weight: bold;\">Open<\/span> <span style=\"color: #fff; font-weight: bold; text-decoration: none;\"> a FREE Equity Account Now! <\/span><\/a><\/div>\n<p style=\"text-align: justify;\"><strong>Valuation and view<\/strong><\/p>\n<p style=\"text-align: justify;\">Following the association with CIE, Mahindra CIE emerged as a\u00a0global automotive ancillary player with focus on Asian markets\u00a0across all CIE\u2019s product verticals and its global forging\u00a0operations. With the synergy in terms of wider spread across\u00a0geographies, broad product base under one umbrella and\u00a0better technology integration &#8211; the company is expected to\u00a0drive growth. We expect company\u2019s total income to grow at a\u00a0CAGR of ~13% during FY14-FY17E and also expects that the\u00a0company would reap returns by the end of FY16E.<\/p>\n<p style=\"text-align: justify;\">We initiate BUY rating on Mahindra CIE. At a current CMP of Rs\u00a0217.8, Mahindra CIE is currently trading at an EV\/EBITDA of\u00a014.4x FY16E and 13.1x FY17E. Considering the company\u2019s\u00a0strong fundamentals, we recommend \u2018BUY\u2019 with a target price\u00a0of Rs 261.2, which implies potential upside of ~19.9% to the\u00a0CMP from a 1 year perspective.<\/p>\n<p><a href=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2015\/04\/Research-Report-Mahindra-CIE-Ltd.pdf\">Research Report Mahindra CIE Ltd<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mahindra CIE Automotive Ltd (Mahindra CIE) is an automotive component\u00a0supplier, formed by the alliance of CIE Automotive, a Spanish automotive\u00a0component major and Mahindra &amp; Mahindra\u2019s (M&amp;M) Systech division. The\u00a0company is engaged in the business of manufacturing forged and machined\u00a0products for automotive, agriculture, railway, mining, construction and\u00a0other industries. With a presence across Latin America, Europe and [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[59],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mahindra CIE Automotive Ltd (Mahindra CIE)<\/title>\n<meta name=\"description\" content=\"Find the latest research report on Mahindra CIE Automotive Ltd. on FundsIndia Marketplace.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fundsindia.com\/blog\/equities\/mahindra-cie-automotive-ltd-mahindra-cie\/7241\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mahindra CIE Automotive Ltd (Mahindra 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