The Board of Administrators of Mahindra & Mahindra Restricted in the present day authorized the monetary outcomes for the quarter and half 12 months ended September 30, 2022 of the corporate and the consolidated Mahindra Group.
Mumbai, November 11, 2022: The Board of Administrators of Mahindra & Mahindra Restricted in the present day authorized the monetary outcomes for the quarter and half 12 months ended September 30, 2022 of the corporate and the consolidated Mahindra Group.
Highlights of the monetary outcomes are:
- Highest ever quarterly income and PAT for M&M standalone
- M&M working margin at 12.0%
- Exports for each automobiles and tractors stays sturdy
- M&M stays market chief in SUVs for 3 consecutive quarters (income market share)
- LCV 2-3.5T: Achieved 60% market share in Q2 F23 (uptick of 10.8% YoY)
- E-3Ws: Achieved highest ever quarterly billing of 10,625 items
- H1 market share at 41.5%: Uptick of 0.5% YoY
- 2nd highest Q2 home volumes (~88k tractors)
- Highest Q2 exports (4.6k tractors)
Commenting on Q2 FY23 efficiency Dr Anish Shah, Managing Director and CEO, M&M Ltd, mentioned, “Our sturdy monetary outcomes mirror the progress we’ve got made on our strategic imperatives. Whereas the auto phase has led progress, we’ve got seen regular efficiency throughout our group firms. Our journey of making worth and offering progress capital continued by way of the Susten-OTPP transaction and the BII transaction.”
Mr Rajesh Jejurikar, Government Director, M&M Ltd, mentioned, “It has been an action-packed quarter with a number of product launches and new merchandise throughout segments, along with partnership bulletins with BII and Volkswagen. We recorded our highest quarterly income for auto and farm segments. In SUVs, we proceed to be the income market share chief. Festive gross sales have been sturdy this 12 months throughout auto and farm sectors. With the disclosing of the XUV4OO and our Born Electrical Imaginative and prescient, we enter the electrical SUV phase and goal to determine management place sooner or later.”
Mr Manoj Bhat, Group Chief Monetary Officer, M&M Ltd, mentioned, “Our sturdy income progress coupled with the give attention to operational metrics and value administration have enabled us to document our highest standalone income ever.”