News: Mahindra CIE reported steady set of numbers in Q2CY22. Consolidated revenue came in at ₹2,707 crores up 4.6% QoQ. EBITDA for the quarter stood at ₹304.4 crores up 2.5% QoQ with corresponding EBITDA margins at 11.2% down 22 bps QoQ. PAT for the quarter came in at ₹189 crores up 17% QoQ
Views: Margin performance was largely on account of recovery being witnessed at European operations. Management expects H2CY22 to be better than H1CY22 amidst strong sales forecast by IHS for <6T segment in the European region. The company is also a key beneficiary of strong product demand at its key client i.e. M&M
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