Castings, Forgings & Fastners
Castings, Forgings & Fastners
from 680 today
MM Forgings’ EBITDA grew by 19% y/y to Rs750m in Q1FY27, above our estimate of Rs659m, due to more-than-expected gross margin, other operating income and DVS merger. We maintain BUY rating on the stock with an upwardly revised TP of Rs840, valuing it at 21x FY28e EPS.
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