Mahindra CIE rallies 9% to hit 52-week high on positive demand outlook

Overall positive performance in Q4, supported by growth and solid profitability in India, and big commercial efforts in Europe will help offset huge cost increases, said analysts

Shares of Mahindra CIE soared 9 per cent to Rs 423.90 and hit a 52-week high in Friday’s intra-day trade, after the company reported 96 per cent year-on-year (YoY) growth in consolidated profit after tax (PAT) of Rs 166.2 crore in the December quarter (Q4CY22).

Earnings before interest, taxes, depreciation, and amortization (Ebitda), too, grew 62 per cent year-on-year (YoY) to Rs 290 crore, whereas Ebitda margin came in at 13 per cent (up 270bp YoY/60bp QoQ). Net sales, on the other hand, rose 34.6 per cent YoY at Rs 2,247 crore.

The company said that the overall