M&M's stock races ahead on strong Q4 performance, outlook healthy

M&M is looking at expanding monthly UV capacity to 64,000 units by FY25-end and 72,000 units by FY26-end, from the present level of 49,000 units

Mahindra & Mahindra (M&M) reported very strong results for the January-March quarter of the last financial year (Q4FY24), beating consensus comfortably. The margins of the automobile business improved 170 basis points (bps) year-on-year (Y-o-Y) to 8.8 per cent, while FES (Farm Equipment Sector) margins improved to 15.8 per cent (up 60 bps Y-o-Y), despite a decline in volumes due to cost optimisation and lower raw material costs.

The market valuation of M&M hit the Rs 3.12 lakh crore mark for the first time on Friday, as the company's shares touched a 52-week high on the bourses. There is a strong