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Investing.com - Investec raised its price target on Mahindra & Mahindra Financial Services Ltd. (MMFS:IN) to INR330.00 from INR300.00 on Friday, while maintaining a Hold rating on the stock.
The price target adjustment follows M&M’s investor day where MMFS outlined its FY25-FY30E aspirations, including an 18-20% AUM CAGR, 1.3-1.7% credit costs, and 2.2-2.5% ROE targets.
MMFS currently holds market leadership in tractors and maintains a top 4 position in cars and LCVs with a strong rural presence, according to Investec’s analysis.
The company has expressed plans to diversify by scaling its mortgages and SME loan books, which stood at Rs70bn each as of September 2025.
Investec views the current valuation of 1.6x P/B and 13x P/E on FY27E as fair given its growth and ROE expectations of approximately 16% and 13%, respectively.
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