Page 17 - Mahindra & Mahindra

MG Gloster Blackstorm edition launched; prices start at Rs 40.30 lakh

To navigate through different terrains, the MG Gloster is equipped with seven drive modes namely, 'Snow', 'Mud', 'Sand', 'Eco', 'Sport', 'Normal' and 'Rock'

Mahindra & Mahindra rallies 5% on steady March quarter earnings

Record annual profit was driven by successful mega launches in automotive, steady growth at farm equipment, strong operating performance at financial services and value unlock through monetisation.

Healthy growth, valuations point to more gains for Mahindra & Mahindra

Auto segment to drive growth on the back of improving demand, new launches

Mahindra & Mahindra increases capex outlay for FY22-24 to Rs 15,900 cr

Mahindra & Mahindra on Friday said it has revised upward the capital expenditure (capex) outlay for the three years cycle of FY22-FY24 to Rs 15,900 crore from Rs 15,075 crore. An additional Rs 1,600 crore will go into the conventional ICE (Internal Combustion Engine) vehicles for the anticipated regulatory changes and capacity expansion, the company said. Of the Rs 15,900 crore revised capex for FY22-FY24 cycle, an additional Rs 1,600 crore will go into the ICE vehicles for the anticipated regulatory changes and capacity expansion while an additional Rs 1,125 crore for the electric vehicle segment to produce vehicles with changing requirements, the automaker said in a presentation. Another Rs 500 crore has been earmarked for auto and farm investments, said the Mumbai-based company which on Friday reported an 18 per cent jump in its consolidated profit at Rs 2,637 crore in the March 2023 quarter and highest-ever annual profit of Rs 10,282 crore in FY23. The company continued to ...

M&M Q4 results: PAT grows 18% to to Rs 2,637 crore on robust performance

Company announces dividend of Rs 16.25 per share for FY23

Mahindra Q4 PAT at Rs 2,637 cr; FY23 profit rises 56% to Rs 10,282 cr

Mahindra & Mahindra on Friday said its consolidated profit after tax increased by 18 per cent to Rs 2,637 crore for the fourth quarter ended March 31, riding on the back of robust performance across automotive, farm equipment and financial services business verticals. The Mumbai-based company had reported a profit after tax (PAT) of Rs 2,237 crore in the January-March quarter of 2021-22 fiscal. Revenue increased to Rs 32,366 crore for the fourth quarter of FY23, as compared to Rs 25,934 crore in the year-ago period. For the year ended March 31, 2023, the company posted a consolidated PAT of Rs 10,282 crore, up 56 per cent, from Rs 6,577 crore in FY22. The company said the FY23 profit is the highest-ever profit reported by the company in a fiscal year. Revenue rose to Rs 1,21,269 crore last fiscal, as against Rs 90,171 crore in 2021-22 fiscal, an increase of 34 per cent. "It has been a blockbuster year for the group. Auto led the way with record-breaking launches, as we regained .

Stocks to Watch today, May 26: Voda Idea, Hind Zinc, RIL, SAIL, Zee, Emami

Stocks to watch on May 26, 2023: BEML, BHEL, Grasim, M&M, ONGC, Shree Renuka Sugars, Sun Pharma and Wockhardt among prominent companies scheduled to announce Q4 results on Friday.

Indian armed forces express interest in buying Maruti's five-door Jimny

Unlike the Thar, which is also sold in two-wheel drive, Maruti Suzuki will offer the Jimny only in a four-wheel drive arrangement

Mahindra & Mahindra sells entire stake in Mahindra CIE at Rs 447.6 a share

MCIE is engaged in the business of production and sale of automotive components to original equipment manufacturers and other customers in India and overseas

Mahindra XUV700 fire: Company alleges tampering with original wiring

The visuals of the burning car had gone viral on social media. On May 22, Mahindra issued an official statement on the matter after conducting its preliminary investigation.

Automakers to invest $10 billion for enhancing EV manufacturing capacity

The capital expenditure will be allocated towards building green-field plants for EVs, better research and investment in battery plants, and support for grid charging infrastructure

Why is Tesla so confused about Indian market? Challenges and opportunities

Top Tesla officials are visiting India this week to speak with government officials and discuss local sourcing of parts and other issues

EV push, pent-up demand: Why auto exports fell in April amid healthy sales?

According to experts, it may take some time for auto exports to touch 2016 peak numbers

Mahindra & Mahindra vehicle sales up 36% in April, exports shrink 33%

The automaker saw a 54 per cent jump in passenger vehicles in April to 34,698 units from 22,526 units a year earlier

Mahindra and Mahindra gears up for EV play, niche e-farm products

M&M aims to make 200,000 EVs a year around 2027

Mahindra can't build Scorpio fast enough; plans a boost in production

Data for February 2023 shows the waiting period is around 25-26 months for some high-in-demand variants of the Mahindra Scorpio

Mahindra to fully utilise production capacity of CVs in 2-3.5 tonne range

Mahindra & Mahindra on Tuesday said it is looking to fully utilise its production capacity of commercial vehicles in the 2-3.5 tonne payload category in the current fiscal. The company may also look at adding some additional capacity as per the market situation. Mahindra currently rolls out around 17,500 units of vehicles with a payload capacity ranging between 2 and 3.5 tonnes per month from its plants in Kandivali and Chakan in Maharashtra. "Our current production capacity is 17,500 units a month for such vehicles (2-3.5 tonne). If market demand is there, we may take a call to increase it," Mahinda & Mahindra VP and National Sales Head (Auto Division) Baneswar Banerjee told reporters here. Mahindra sold around 2 lakh units last fiscal in the segment and aims to do better in the current fiscal, he added. The company already has a market share of 60 per cent in the segment. The total market for 2-3.5 tonne payload vehicles stood at around 3.31 lakh units in FY23. "We expect ...

Mahindra & Mahindra to increase LCV production capacity as demand rises

As per the SIAM data, M&M's domestic sales of LCVs in this segment reached 198,121 units in 2022-23, indicating that production capacity is almost fully utilized

Former Jio-bp executive Kedar Apte to head M&M's global farm business

Apte comes from Jio-bp (a joint venture between Reliance & bp for mobility in India). He was working as the chief marketing officer at Jio-bp

Oldest Indian billionaire, champion of education: Who was Keshub Mahindra?

Keshub Mahindra passed away on April 12 at the age of 99