Nomura has reiterated its buy rating on Mahindra & Mahindra (M&M) with a target price of ₹3,736 after the automaker unveiled its Global Vision 2027 strategy, positioning itself for long-term growth in the global SUV market. The centrepiece of the strategy is the all-new NU_IQ, a modular, multi-energy SUV platform designed as a strategic blueprint for the future of Mahindra SUVs globally.
As part of the launch, M&M showcased four new concept SUVs — Vision S, Vision T, Vision SXT, and Vision X — which are expected to go into production starting 2027. Nomura said the announcement underscores the company’s intent to expand its international footprint and strengthen its innovation-led approach in the SUV category.
The brokerage has maintained its FY26 and FY27 revenue estimates, with EBITDA margins forecast at 13.7% and 14.4% respectively, reflecting confidence in M&M’s ability to execute its growth strategy while balancing profitability. Nomura noted that the combination of new product launches, technological advancements, and a global growth roadmap positions M&M strongly for the medium to long term.
Disclaimer: The views and recommendations made in this article are those of Nomura. This article does not constitute investment advice. Investors should consult their financial advisors before making any investment decisions.
