Page 14 - Mahindra & Mahindra

Hero MotoCorp shuts plants from Aug 15-18, says market situation to blame

Company says while the closure of plants has been partly due to holidays for Independence Day and Raksha Bandhan, it also reflects the prevailing market demand scenario

Tata Motors, Mahindra cut production to align with tapering market demand

Home grown auto majors Tata Motors and Mahindra & Mahindra (M&M) are suspending automobile manufacturing in order to adjust production with market demand. M&M on Friday said it will be suspending production for 8-14 days in the ongoing quarter while Tata Motors also confirmed taking steps to align manufacturing with tapering demand. In a regulatory filing, M&M said it would be observing 'no production days' in various plants for 8-14 days during the second quarter of 2019-20. When contacted, a Tata Motors spokesperson said,"as indicated earlier, external environment remains challenging, leading to demand contraction. We have aligned our production to actual demand and adjusted the number of shifts and contractual manpower". The companies are announcing production suspension at a time when the domestic auto industry has been going through one of the longest sales slumps. In April-July, M&M's total domestic vehicles sales dipped 8 per cent to 1,61,604 units as ...

Auto sector slowdown: Anand Mahindra calls for short-term booster dose

I believe the government's measures to push the auto industry towards change are sincere and far-sighted, Mahindra said

Mahindra warns of job losses in auto sector, seeks government's help

A slump in sales is also triggering massive job cuts in the sector that employs 35 million people directly and indirectly

Tata Motors MD draws over two times more salary than M&M's in FY19

Homegrown auto majors Tata Motors and Mahindra & Mahindra are close rivals in the automotive market but when it comes to remuneration of their top honchos, the former is miles ahead of the latter. Tata Motors Managing Director and CEO Guenter Butschek's total remuneration was at Rs 26.29 crore, an increase of 1.57 per cent from the previous year, according to the company's annual report for 2018-19. On the other hand, Mahindra & Mahindra (M&M) Managing Director Pawan Goenka's total remuneration for FY2018-19 was at Rs 12.19 crore, which was at a marginal decline of 0.16 per cent from the previous fiscal, its annual report for 2018-19 showed. Tata Motors said Butschek's remunerations included performance bonus and long-term incentive plan of Rs 9.23 crore and retirement benefits of Rs 32,02,494. The performance bonus of EUR 5,94,000 (at conversion rate of Rs 77.67 as on March 31, 2019) will be paid during FY 2019-20, the company said, adding his remunerations also .

Anand Mahindra to ban plastic bottles from boardrooms after Twitter advice

Mahindra was replying to a woman who pointed out the plastic bottles at a boardroom meeting

Mahindra picks up 11.25% stake in Swiss agriculture technology firm Gamaya

Gamaya, which works in Brazil India, Ukraine and other countries, uses imagery to give farmers information about the state of their fields and crops

Bumpy road ahead: Poor demand, higher costs may hit M&M's profitability

Despite the pressure on profitability, margins were ahead of Street estimates

M&M reports 16% decline in Q4FY19 consolidated net profit at Rs 969 crore

Revenue for the period under review stood at Rs 13,808 crore - up 4.7% on a year on year basis

Mahindra keen to make South Africa hub for its exports in the continent

Mahindra wants to make South Africa the hub of its exports into the rest of the Africa, a senior official of the company has said. Arvind Mathew, Chief of International Operations at Mahindra & Mahindra, joined Rajesh Gupta, CEO of the company's local subsidiary, Mahindra SA, on Friday to launch two models in the 7500 series and three in the 6000 series of its tractors from its farming equipment range, which are very popular in India and several other countries. Africa is the future agricultural base of the world, Mathew told reporters and farming sector representatives at the event in the heart of the farming community in North West Province. In the15 years that Mahindra has been in South Africa, it is very well recognised in the automotive and information technology sectors, and today we are announcing our advent into this sector with our farming equipment, he added. Alongside the two tractors, the guests were also introduced to the entire range of farm equipment, including ...

M&M's XUV300 shines in compact SUV segment, bookings cross 13,000-mark

The brisk sales of the XUV300 is good news for M&M

Mahindra launches e-mobility platform 'Glyd' in bid to popularise EVs

Glyd has tied up with Vodafone-Idea, Cisco Systems and other service and content providers to launch the service in Mumbai

Higher tractor and auto sales drive Mahindra December quarter net up 7%

Operating margins during the quarter contracted to 13.2% from 14.7% a year ago, due to higher raw material costs that the company was unable to pass on to buyers

Mahindra & Mahindra hits 52-week low; cracks 15% so far in January

The stock was down 1.4 per cent at Rs 687, its lowest level since December 8, 2017, on the BSE.

M&M hikes stake in Ssangyong Motor to 74.65%, picks shares worth Rs 316 cr

Homegrown auto major Mahindra & Mahindra (M&M) Wednesday said it has increased stake in its South Korean arm Ssangyong Motor Company to 74.65 per cent with subscription of additional shares worth Rs 316.5 crore. In response to offer of shares made by Ssangyong Motor Company (SYMC), the company has agreed to subscribe to 1,18,90,606 equity shares of SYMC, M&M said in a regulatory filing. The subscription has been done at a price of KRW (South Korean won) 4,205 per equity share aggregating KRW 50 billion, equivalent to around Rs 316.5 crore, it added. "Pursuant to the above, the shareholding of the company (M&M) in SYMC would increase from 72.46 per cent to 74.65 per cent," M&M said. The transaction is expected to be completed by February 24, it said. In August 2010, M&M had first signed an agreement to acquire the then ailing SYMC and completed the acquisition with 70 per cent stake for USD 463 million in March 2011. Since then, it had gradually increased its ...

Mahindra sees 13% rise in tractor sales in Nov, says demand to rise in Q4

Mahindra & Mahindra (M&M) Monday reported 13 per cent increase in tractor sales at 25,949 units in November as against 22,994 units in the same month last year. In the domestic market, tractor sales stood at 25,159 units as compared to 21,271 units in November 2017, up 18 per cent, the company said in a statement. Exports, however, declined by 54 per cent to 790 units from 1,723 units in the year-ago month, it added. "Retail demand remained positive through the festive season," M&M President - Farm Equipment sector Rajesh Jejurikar said. On the outlook, he said, "We expect that structural factors such as government's continued focus on rural and agri spends and momentum on key crop prices will ensure the demand uptick for tractors continues into Q4 of the current fiscal.

Mahindra pitches eco-friendly electric skate-scooter for last-mile mobility

The electric skate-scooter will be offered as a one-person mobility solution that can be hired at low rates in order to navigate short distances across crowded streets

Mahindra & Mahindra Marazzo to get costlier by up to Rs 40,000 from Jan 1

Mahindra & Mahindra Friday said it will increase price of its newly launched multi-purpose vehicle (MPV) Marazzo by Rs 30,000 to Rs 40,000 from January 1, 2019. The Marazzo was launched in September with introductory prices starting at Rs 9.99 lakh and going up to Rs 13.90 lakh, depending on variants. "As mentioned at the launch, the price of Marazzo was an introductory one. Effective January 1, 2019, we will be taking a price hike on the Marazzo, after a reasonable period of four months from its launch," Mahindra and Mahindra Chief of Sales and Marketing Automotive Division Veejay Ram Nakra said in a statement. The new MPV has been been co-designed by the Mahindra Design Studio and Italian design house, Pininfarina. It has been engineered in collaboration with the Mahindra North America Technical Technical Centre and the Mahindra Research Valley, Chennai.

Margin pressure, revised volume outlook weigh on Mahindra & Mahindra stock

The stock of Mahindra & Mahindra (M&M) was down about 2.6 per cent on margin pressure and a revision in volume outlook for both the auto and tractor segments. While September quarter results were more or less in line with estimates, the company could see pressure on profitability, going ahead. Even in the quarter gone by, while overall margins were down 150 basis points (bps) to 14.5 per cent, segment margins for auto and tractors slid by 280 bps and 100 bps respectively. The sharper fall in auto segment margins was on account of higher raw material costs, attractive pricing for new launches, and higher marketing costs. While the company was able to pass on some of the raw material cost pressures, it had to absorb the rest. Segment level margins for the auto sector, which came in at 7.8 per cent, could come under pressure as the firm has lined up two launches in the December and March quarters. While M&M has not indicated whether it will take up price hikes, margins could .

M&M eyes No. 3 spot in heavy-duty truck market with 10% share in 2 years

A steady climb in volumes has helped the company double its market share in the segment to 5% in the first six months of the financial year from the year-ago period