M&M Feb production down over 55%

Mahindra & Mahindra said its production fell 55.96% to 25,643 units in February 2020 from 58,231 units in February 2019.

Sales declined 43.02% to 30,083 units in February 2020 from 52,799 units in February 2019.

Exports slumped 40.67% to 1,831 units in February 2020 from 3,086 units in February 2019.

Mahindra & Mahindra (M&M) in an exchange filing made after market hours on Wednesday (4 march 2020) announced that operations of the company in March 2020 have been further impacted due to supply disruptions of certain critical components for production of BS-VI vehicles on account of outbreak of Coronavirus and occurrence of fire at a plant of a major supplier in Chakan. The company anticipates that supply disruptions due to these factors could continue for part of April 2020 also before being set right.

M&M estimates reduction in production / sales volume of the company (automotive division) and Mahindra Vehicle Manufacturer (MVML), a wholly owned subsidiary of the company, by around 12,000 number of vehicles in March 2020.

M&M's segments include automotive, farm equipment, financial services, real estate, hospitality and others. Automotive segment comprises of sale of automobiles, spares, mobility solutions and construction equipment. Its farm equipment segment comprises of sale of tractors, implements and spares.

Shares of the auto maker ended 0.99% higher in yesterday's sessions at Rs 479.25.

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