 "Mahindra")
India Ratings and Research (Ind-Ra) has assigned Mahindra & Mahindra (M&M) non-convertible debentures (NCDs) a final rating of AAA with a stable outlook.
Ind-Ra said M&M has maintained its leadership position in the domestic tractor market with 40 per cent market share in volume terms from FY09 to FY19. The company is also the number one player in the light commercial vehicle (goods carriers) segment with around 42.6 per cent market share in 11M FY20.
M&M has a diversified business profile with presence across farm equipment, auto and automotive components, defence, information technology, hospitality, steel trading, infrastructure and aerospace.
