Hold Mahindra & Mahindra Financial Services, target price Rs 230: Prabhudas Laladhar | Tech US News

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Prabhudas Laladhar calls on Mahindra & Mahindra Financial Services with a target price of Rs 230. Current market price of Mahindra & 215.3 is Rs.

Mahindra & Mahindra Financial Services Limited, incorporated in the year 1991, is a large company (having a market cap of Rs. 26922.20 crore) operating in the NBFC sector.

Major Products/Revenue Segments of Mahindra & Mahindra Financial Services Limited include Interest, Fee and Commission Income, Income from Sale of Shares and Securities, Rental Income for the year ended 31-March-2022.

Finance

For the quarter ended 30-09-2022, the company reported a total revenue of Rs 3029.28 crore, which is 3.96% higher than the total revenue of Rs 2913.95 crore in the previous quarter and the total of the corresponding quarter last year. Revenue is up 2.67% from Rs.2950 crore. The company reported a profit after tax of Rs 480.19 crore in the latest quarter.

Investment rationale
The brokerage maintains ‘Hold’ rating on the stock and raises the price target to Rs 230 from Rs 200 as we value MMFS at 1.9x PABV Sep’24E.

Promoter/FII Holdings
Promoters held 52.16 per cent stake in the company as on 30-Sep-2022, while FIIs held 18.7 per cent, DIIs 15.81 per cent.

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