M&M Q4 net up 5% to Rs 153 cr

BS 200 SCORECARD

Mahindra & Mahindra (M&M) recorded a 5 per cent growth in net profit to Rs 152.67 crore for the fourth quarter ended March 31, 2004 against Rs 145.64 crore posted in the corresponding quarter of the previous year.

The company recorded net sales of Rs 1,910.68 crore for the fourth quarter, a growth of 27.31 per cent over the previous year's Rs 1,500.71 crore.

M&M achieved a net profit of Rs 512.7 crore for the year ended March 31, 2005. This is 47 per cent higher over is previous year's net profit of Rs 348.5 crore.

M&M's net sales and income from operations for the year ended March 31, 2005 stood at Rs 6,660.6 crore, a growth of 34 per cent compared to Rs 4,970.8 crore in the previous year.

The board has recommended a dividend of 100 per cent and a special dividend of 30 per cent aggregating Rs 13 a share. This will translate into an outgo of Rs 171.97 crore inclusive of tax (previous year Rs 117.79 crore).

The board also approved a proposal to increase the investment limit of foreign institutional investor's (FII) up to 49 per cent of the paid-up capital of the company. FII investment in M&M has reached 31 per cent against the present ceiling of 35 per cent.