Motilal Oswal Recommends 'BUY' on Mahindra & Mahindra Financial, Sets Rs 450 Target
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Moneycontrol•30-01-2026, 10:02
Motilal Oswal Recommends 'BUY' on Mahindra & Mahindra Financial, Sets Rs 450 Target
- •Mahindra & Mahindra Financial (MMFS) reported a 42% QoQ PAT growth to INR8.1 billion in 3QFY26, exceeding expectations by 9%.
- •Net Interest Income (NII) increased by 21% YoY to INR23 billion, while other income surged 90% YoY to INR3.6 billion.
- •Operating Expenses (Opex) rose 28% YoY to INR11.2 billion, with a cost-income ratio of 42%, including a one-time INR1.2 billion impact from new labor codes.
- •Motilal Oswal maintains a 'BUY' rating for MMFS with an unchanged target price of INR450.
- •The target price is based on 2.1x December’27E Book Value, projecting a PAT CAGR of 19% over FY25-28E and RoA/RoE of 2.2%/14% in FY28E.
Why It Matters: Motilal Oswal recommends buying Mahindra & Mahindra Financial, citing strong Q3 results and positive future outlook.
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