Page 2 - Mahindra & Mahindra

Mahindra's Q3 net rises over two-fold on strong operational performance

M&M's tractor volumes during the quarter declined to 91,769 units over 100,696 units in the same period a year ago

M&M reports over two-fold increase in Q3 PAT at Rs 1,353 cr

Homegrown auto major Mahindra & Mahindra (M&M) on Thursday reported over two-fold increase in its standalone profit after tax (PAT) at Rs 1,353 crore for the quarter ended December 31, 2021. The Mumbai-based company had posted a standalone PAT of Rs 531 crore in the October-December period of previous fiscal. Revenue for the third quarter rose by 8 per cent to Rs 15,239 crore, as against Rs 14,057 crore in the year-ago period, M&M said in a regulatory filing. The company said it sold 1,18,174 vehicles during the period under review, down 2 per cent from 1,21,133 units in the third quarter of last fiscal. M&M tractor sales declined by 9 per cent to 91,769 units in the third quarter, as against 1,00,696 units in the year-ago period. On a consolidated basis, the Mahindra Group reported a PAT of Rs 1,987 crore, as compared to Rs 1,268 crore in the Q3 of 2020-21. Revenue rose to Rs 23,594 crore in the third quarter, as against Rs 21,626 crore in the year-ago period. "We ...

Mahindra & Mahindra total sales increase 20% in January

Mahindra & Mahindra (M&M) on Tuesday said its total sales increased by 19.55 per cent to 46,804 units in January 2022. The company's total sales stood at 39,149 units in January 2021. The Mumbai-based auto major's passenger vehicle sales in the domestic market stood at 19,964 units last month as against 20,634 units in January last year. Commercial vehicles sales increased to 23,979 units last month as compared with 16,229 units in January 2021. The company said its exports last month stood at 2,861 units as against 2,286 units in the same month last year. "We continued our growth trajectory with an overall growth of 20 per cent in January 2022...We continue to closely monitor the semi-conductor related parts issue and take corrective action as appropriate," M&M Automotive Division CEO Veejay Nakra said in a statement.

M&M records almost 100,000 bookings of XUV700, bills 14,000 units

Mahindra & Mahindra Ltd on Thursday said it has clocked almost one lakh bookings of its latest sports utility vehicle XUV700 besides billing the first 14,000 units of the vehicle by January, despite global supply chain issues. The company in a statement also said that while the dynamic supply chain issues continue to be a challenge in streamlining and ramping up production, it is doing its best and focusing on meeting its committed delivery timelines to customers. Given the unprecedented bookings and the continued strong demand for the vehicle, the waiting period for most variants stands at 6-10 months. However, the AX7 series has a waiting period of well over 12 months, it stated. The homegrown auto major had launched XUV700 in August last and opened bookings from early October. The deliveries of the XUV700, however, commenced only from October 30. Priced between Rs 12.95 lakh and Rs 23.79 lakh (ex-showroom), the five- and seven-seater XUV700 comes in two broad trims MX and AX ..

M&M top brass promises urgent remedial action in farmer humiliation row

Top brass of Mahindra & Mahindra Ltd on Tuesday promised urgent remedial action a day after it emerged that a farmer, who came to buy a pick-up truck of the company, was allegedly insulted by a sales staff at a showroom in Karnataka. A video of the incident that took place at Tumkur in Karnataka went viral wherein the farmer claimed that he had been told that he probably didn't even have "Rs 10 in his pocket" by a sales staff when he went to buy a Bolero pick-up truck, which "costs Rs 10 lakh". Reacting to social media posts, M&M Chairman Anand Mahindra said in a tweet, "The Core Purpose of @MahindraRise is to enable our communities & all stakeholders to Rise. And a key Core Value is to uphold the Dignity of the Individual. Any aberration from this philosophy will be addressed with great urgency." Similarly, M&M Managing Director and CEO Anish Shah also took to social media to announce that the company is dealing with the issue with urgency. "Customer centricity and ...

Stocks to Watch: HUL, Bajaj Auto, Mastek, Ceat, OFSS, SBI, M&M, RBL Bank

Asian Paints, Bajaj Finserv, Bajaj Holdings, Biocon, Century Textiles, Havells India, Hindustan Unilever, Bank of Maharashtra, MphasiS, Persistent Systems and Shoppers Stop to announce results today.

Commodity price hike hit company, unable to fully pass on to consumers: M&M

Firm will move first to alternative fuels before migrating to EVs, says top company exec

RIL, M&M bid for incentives under govt's Rs 18k-cr battery scheme: Report

India last year finalised an incentive program for companies to invest in local manufacturing of batteries as it looks to establish a domestic supply chain for clean transport and build storage for RE

Tata Motors, Eicher, Maruti: Will auto shares breakout for bigger gains?

Automobile shares may breakout after crossing significant resistances

M&M total sales rise 11% in December to 39,157 units

Mahindra & Mahindra (M&M) on Saturday reported an 11 per cent increase in total sales at 39,157 units in December 2021. The company had sold 35,187 units in December 2020, M&M said in a statement. In the domestic market, passenger vehicle sales were up 10 per cent to 17,722 units last month, compared to 16,182 units in December 2020. In the commercial vehicles segment, the company sold 18,418 vehicles in the domestic market last month as against 16,795 units in December 2020, an increase of 10 per cent. Exports increased by 37 per cent to 3,017 units in December 2021 compared to 2,210 units in the year-ago month. "We have seen growth in business segments, including Passenger Vehicles, Commercial Vehicles and International Operations, owing to continued strong demand across the product portfolio," M&M Chief Executive Officer Automotive Division Veejay Nakra said. The issues around semiconductor-related parts continue to be a challenge for the industry and remains a ...

M&M, TaMo aim to bolster product range, manage chip shortage next year

Riding on the success of their recent model launches, homegrown auto majors Mahindra & Mahindra and Tata Motors are looking to further strengthen their product portfolios in 2022. Both companies are also looking at ways to handle the semiconductor shortage in a better way next year so that the impact on the production is minimal. "We want to be the number one player in the core SUV segment, and the success across our product portfolio including the all new Thar, XUV300, Bolero Neo and the unprecedented response we have received for XUV700 is an indication that we are on the right track," Mahindra & Mahindra (M&M) Executive Director (Auto & Farm Sectors) Rajesh Jejurikar told PTI in an interaction. The company has already announced the launch of 13 new products by 2027, he added. "The next in line is the new Scorpio, which should come out next year, which will be our immediate focus," Jejurikar noted. The automaker has seen a strong demand rebound, especially for core, .

Stocks to Watch: RIL, M&M, Neogen, JBM Auto, Kopran, UBL, Voda Idea

The markets may consolidate after two days of strong gains for the benchmark indices

Mahindra PV sales up 8% amid chip crunch, tractors drop 17% in November

Firm says demand remains strong across product portfolio; momentum in exports continues with 90% growth

Amid chip shortage, M&M records 6% drop in Nov auto sales to 40,102 units

While domestic passenger vehicles sales rose 7% YoY to 19,458 units, domestic commercial vehicles sales fell 23% to 17,543 units in November 2021

Here's why Ajit Mishra recommends buying Birlasoft, Mahindra & Mahindra

However, the technical analyst from Religare Broking recommends to short sell Hindalco November futures

Auto shares in focus; Motherson Sumi, Varroc, Sharda Motor rally up to 10%

As of 10:09 AM, the S&P BSE Auto index was the top sectoral gainer up 1.1 per cent as compared to 0.31 per cent decline in the S&P BSE Sensex

Mahindra XUV700 gets 5-star adult safety rating in Global NCAP crash test

Mahindra & Mahindra (M&M) on Wednesday said its newly launched model XUV700 has received a 5-star adult safety rating for adult occupant protection in a crash test conducted by vehicle safety accreditation group Global NCAP. The model has received the highest combined safety score (adult + child) of 57.69 out of a total of 66.00 among the Indian vehicles tested so far by Global NCAP which makes XUV700 the safest Indian vehicle and the first full-size seven-seater SUV in the country to receive five-star rating, the home grown auto major said in a statement. The SUV has achieved an adult score of 16.03 out of 17 and a child safety score of 41.66 out of 49, the highest among all the vehicles in India tested by Global NCAP so far, it added. The official Global NCAP test for the Mahindra XUV700 was conducted in Germany last month. Five stars indicates the highest score while zero star rating points to the minimum score during the vehicle crash test. "When we were developing the ...

Mahindra Logistics acquires Meru Cabs from Mahindra & Mahindra

The third party logistics company, MLL is a 58.34 percent subsidiary of M&M.

Mahindra & Mahindra surges 7% in two days post Q2 results

With better availability of semi-conductors, the management hopes to maintain the volume growth momentum Q3 onwards

M&M draws aggressive 6-year plan for auto and farm equipment segments

Plans to launch 13 new SUVs by 2027, including eight EVs. By then it also sees at least 20% of total SUV volumes coming from EVs