Whalesbook
Toh bhai log, M&M ka game abhi results par atka hai. 5 May ko company apna Q4 FY26 aur poore saal ka hisaab-kitaab pesh karegi. Aur haan, issi meeting mein board dividend recommend karne par bhi विचार kar sakta hai.
Pichle saal ke hisaab se toh growth achhi lag rahi hai, par iss saal ab tak stock ka performance thoda slow raha hai. Lagbhag 16.94% stock neeche gira hai, abhi ₹3,094.20 ke aas paas trade ho raha hai. Mazedaar baat yeh hai ki jabki automotive sector mein sab achha chal raha tha aur M&M ne Q3 FY26 mein Revenue 26.45% aur Net Profit 38.5% badhaya tha, stock phir bhi gira. Matlab investors sirf saal bhar ki performance nahi, balki kuch aur bhi dekh rahe hain.
Sector ki baat karein toh Indian auto sector ne FY26 acche se finish kiya, sabhi categories mein record sales hui. Aur M&M ka farm equipment business bhi dhamakedaar raha, domestic tractor sales FY26 mein 23% badhi. M&M is market mein 43.61% share ke saath lead karta hai aur apni sales 24% badhaai hai. Lekin ab aa rahi hai maheengai ki maar! Steel, aluminium, copper jaise raw materials ke daam badh gaye hain, jisse companies ke profit par pressure aa raha hai. Analysts expect kar rahe hain ki tractor demand mein seasonal drop hone ki wajah se M&M ka revenue aur profit pichle quarter (Q4 FY26) se kam ho sakta hai.
Upper se EV mein investment aur sales badhne se bhi margin par thoda pressure aa sakta hai. M&M ko EV market mein entry aur investment karni padegi, jismein profit margins kam ho sakte hain. Aur bhai, EV market mein competition bhi badhti jaa rahi hai. Tata Motors bhi full power mein hai. Tractor mein toh M&M king hai, par passenger vehicle aur EV mein usko dher saare bade competitors se ladna padega.
Brokerages abhi bhi M&M ko lekar optimistic hain. Unka kehna hai ki 12 mahine mein stock ₹3,965 se ₹4,234 tak jaa sakta hai, matlab 28% se 36.7% tak ka upside dikh raha hai. Sabse important hoga M&M ka FY27 ke liye guidance aur woh kaise rising costs ko control karte hain aur EV sector mein kaise perform karte hain. Investor sentiment FY27 ke outlook par aur Q4 mein current quarter ke challenges ko kaise manage karte hain, us par depend karega.