FY19 likely to see turnaround for M&M's utility vehicles

Led by strong volumes for both automotive and farm equipment segments (FES or tractor business), Mahindra and Mahindra (M&M) ended the fiscal on a strong note. Net sales was up nearly 26 per cent largely on the back of a 40 per cent jump in tractor volumes and 20 per cent uptick in the auto space. 

The strong volume performance, price hikes and richer product mix also reflected on the margins as well as the bottom line. While margins came in at a strong 15.1 per cent, the bottom line was up nearly 50 per cent compared to the same period