External broker reports(aggregated public sources), Emkay Global Financial Services Limited

Emkay

External broker reports(aggregated public sources)

Emkay Global Financial Services Limited

Emkay Global Financial Services Ltd. is a leader in the financial services sector, actively creating wealth for our clients for over two decades. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Motherson Sumi Wiring India / Equity Bottom-Up

<ul><li>Emkay Global Financial's research report onMotherson Sumi Wiring India We recently met the management at MSUMI, and visited the company’s Pune plant as well.</li><li>KTAs: a) MSUMI is making a strong breakthrough in several OEMs, particularly 2 large SUV-focused players, and has emerged as the sole supplier for a number of their key upcoming models (for both ICE as well as ‘born EV’ platforms).</li><li>b) Content per vehicle (CPV) would continue to grow strongly, with premiumization (up to 1.5x in SUVs vs sedans) &amp; electrification (up to 2.4x/5x in E-PVs/E-2Ws).</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Emkay Global Financial's research report onMotherson Sumi Wiring India We recently met the management at MSUMI, and visited the company’s Pune plant as well.KTAs: a) MSUMI is making a strong breakthrough in several OEMs, particularly 2 large SUV-focused players, and has emerged as the sole supplier for a number of their key upcoming models (for both ICE as well as ‘born EV’ platforms).b) Content per vehicle (CPV) would continue to grow strongly, with premiumization (up to 1.5x in SUVs vs sedans) &amp; electrification (up to 2.4x/5x in E-PVs/E-2Ws).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Motherson Sumi Wiring India - Strong Proxy Play on PVs with Major SUV Order-Wins

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>Mahindra &amp; Mahindra: M&amp;M Q4FY24 PAT at INR 21.6bn beat our estimate of INR 17.9bn, aided by better realisation and soft commodity prices</li><li>M&amp;M has shared its investment plan for FY25-27</li><li>The total investment planned in the auto division is INR 270bn, of which INR 85bn is for SUV ICE, INR 40bn for CV, and sustenance investment of INR 15bn</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Mahindra &amp; Mahindra: M&amp;M Q4FY24 PAT at INR 21.6bn beat our estimate of INR 17.9bn, aided by better realisation and soft commodity pricesM&amp;M has shared its investment plan for FY25-27The total investment planned in the auto division is INR 270bn, of which INR 85bn is for SUV ICE, INR 40bn for CV, and sustenance investment of INR 15bnContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Mahindra & Mahindra, Infoedge, Berger Paints, LIC Housing Finance

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Wiring harness acts as a nervous system of an automobile primarily used to transport an electronic signal. Content is pegged at ~2-3% of vehicle price</li><li>Content/vehicle is set to gain from increasing application of electronics (ADAS, TPMS, connected vehicle, etc.) in automobile &amp; even electrification</li><li>Content/vehicle in EV is pegged at ~1.5-2x of ICE vehicle</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Wiring harness acts as a nervous system of an automobile primarily used to transport an electronic signal. Content is pegged at ~2-3% of vehicle priceContent/vehicle is set to gain from increasing application of electronics (ADAS, TPMS, connected vehicle, etc.) in automobile &amp; even electrificationContent/vehicle in EV is pegged at ~1.5-2x of ICE vehicleContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Motherson Sumi Wiring India - Superlative Return Ratio Profile

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Motherson Sumi Wiring India (MSUMI), a JV between Sumitomo Wiring System (SWS) and Motherson Group, is a market leader in the Indian wiring harness industry with a market share of over 40%.</li><li>MSUMI enjoys superior profitability led by improved efficiency and economies of scale, as reflected in the industry leading gross/EBITDA/ EBIT margins</li><li>After the restructuring of Motherson Sumi Systems (MSS), MSUMI transformed into an India-based pure play wiring harness player with a focus on the domestic market</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Motherson Sumi Wiring India (MSUMI), a JV between Sumitomo Wiring System (SWS) and Motherson Group, is a market leader in the Indian wiring harness industry with a market share of over 40%.MSUMI enjoys superior profitability led by improved efficiency and economies of scale, as reflected in the industry leading gross/EBITDA/ EBIT marginsAfter the restructuring of Motherson Sumi Systems (MSS), MSUMI transformed into an India-based pure play wiring harness player with a focus on the domestic marketContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Motherson Sumi Wiring India - Simplicity in Complexity Drives Supernormal Profits

India

Motherson Sumi Wiring India Limited manufactures auto parts. The Company offers wiring harnesses and electrical components for heavy, medium, and light-duty commercial vehicles. Motherson Sumi Wiring serves customers worldwide.

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Motherson Sumi Wiring India (MSUMI IN)

Motherson Sumi Wiring India - Strong Proxy Play on PVs with Major SUV Order-Wins

Emkay Global Financial's research report onMotherson Sumi Wiring India We recently met the management at MSUMI, and visited the company’s Pune...

Emkay

HSIE Results Daily: Mahindra & Mahindra, Infoedge, Berger Paints, LIC Housing Finance

Mahindra & Mahindra: M&M Q4FY24 PAT at INR 21.6bn beat our estimate of INR 17.9bn, aided by better realisation and soft commodity...

HDFC Securities

Motherson Sumi Wiring India - Superlative Return Ratio Profile

Wiring harness acts as a nervous system of an automobile primarily used to transport an electronic signal. Content is pegged at ~2-3% of vehicle price

ICICI Securities Limited

Motherson Sumi Wiring India - Simplicity in Complexity Drives Supernormal Profits

Motherson Sumi Wiring India (MSUMI), a JV between Sumitomo Wiring System (SWS) and Motherson Group, is a market leader in the Indian wiring harness...

Motilal Oswal

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