Page 32 - Mahindra & Mahindra

Mahindra Q2 PAT dips 88% to Rs 162 cr, shuts aircraft business in Australia

Mahindra & Mahindra (M&M) on Tuesday reported an 88 per cent drop in its profit after tax (PAT) to Rs 162 crore for the second quarter ended September 30, mainly on account of an impairment provision of Rs 1,149.46 crore for certain long-term investments. The auto major along with one unit, Mahindra Vehicle Manufacturers Ltd (MVML), had reported a PAT of Rs 1,355 crore during the July-September period of the previous fiscal. Its revenues, however, increased to Rs 11,590 crore in the second quarter as against Rs 10,935 crore a year ago, M&M said. The company announced the closure of its aircraft manufacturing business in Australia and putting it up for sale. "We have shut down our Gipps Aero business, which was into the manufacturing of 8- and 10-seater planes in Australia," Mahindra & Mahindra Deputy Managing Director and Group CFO Anish Shah told reporters in the post-earnings virtual media conference. "It is up for sale for someone who wants to buy it. But, if there .

M&M's margins to moderate in coming quarters as input costs weigh in

Volume growth expected to sustain for tractors and improve for auto business going ahead

Indices end at record high for 2nd day, Sensex gains 680 pts, tops 43K

All that happened in the markets today.

Mahindra & Mahindra commences deliveries of latest version of Thar SUV

Domestic auto major Mahindra & Mahindra on Saturday commenced the deliveries of the latest version of its iconic SUV, Thar, with the first vehicle going to auto component maker Minda Corporation's CEO Aakash Minda. Minda had placed the winning bid of Rs 1.11 crore in the six-day long online auction for the first unit of the vehicle in late September. Mahindra Group on Saturday handed over the all-new Thar to Aakash Minda, winner of the online auction for the very first vehicle, the company said in a release. Minda opted for the fully loaded LX petrol automatic transmission convertible variant of the latest version of the SUV, it said adding the vehicle was delivered to him in New Delhi. "I would like to congratulate Aakash Minda, as the very first owner of the All-New Thar. This is a historic moment, given the excitement the auction had created," said Veejay Nakra, CEO, Automotive Division at Mahindra & Mahindra Ltd. Mid-last month, Mahindra had announced raising production of

Mahindra reports 2% increase in tractor sales to 46,558 units in Oct

Mahindra & Mahindra (M&M) on Sunday reported a 2 per cent increase in its tractor sales at 46,558 units in October. The company had sold 45,433 units of tractors in October 2019, Mahindra & Mahindra (M&M) said in a statement. Domestic sales grew 2 per cent to 45,588 units in October this year compared to 44,646 units in the year-ago month, it added. Exports during the month stood at 970 units, as compared to 787 units in October last year, up 23 per cent, the company said. "We continue to witness unprecedented retail demand which is likely to be higher than wholesale numbers on back of expectations of a higher Kharif output and good cash flow in the market," M&M President - Farm Equipment Sector Hemant Sikka said. Auspicious festival days ahead, coupled with mechanisation requirements for ongoing Kharif harvesting and impending Rabi sowing season augurs well for the industry, he added.

Bank of Baroda inks pact with Mahindra & Mahindra for tractor finance biz

The lender, through its over 5,000 rural and semi-urban branch network, will provide tractor loan facility to customers of Mahindra and Mahindra

Mahindra & Mahindra rolls out BS-VI trims of Alfa three-wheeler

Mahindra & Mahindra (M&M) on Monday said it has launched BS-VI compliant variants of its three-wheeler brand Alfa, priced up to Rs 2.67 lakh (ex-showroom Mumbai). The three-wheeler brand comes with four trims to cater to both passenger and cargo segments. The price of cargo variants starts from Rs 2.59 lakh while that of the passenger trims begin from Rs 2.67 lakh. There has been some delay in launching BS-VI range of three-wheelers, given the supply chain disruptions due to COVID-19, M&M CEO Automotive Division Veejay Nakra said in a statement. With all of that behind us and the onset of the festive season, we see good demand in both load and passenger segments and we are gearing up our production accordingly to meet this demand. With these launches we are confident to regain our spot among the top three players in the three-wheeler segment," he added.

Car makers pull all stops to beat the pandemic blues ahead of festivals

The benefits range from cash discounts, attractive EMIs to Covid-19 cover

Car makers drive in top-of-the-line models in defiance of slowdown

Buyers have been lapping up new model launches, show booking and sales trends

Skoda drives into pre-owned car market as demand for owned vehicles soars

The used car market in India has been growing at more than 1.5 times that of new cars

Harley fails, Hyundai triumphs: India's auto market is unlike any other

The problems: taxation system favours smaller cars, expat CEOs don't always understand business landscape

M&M shares gain 4% as bookings for All-New Thar SUV cross 9,000 mark

Motilal Oswal Securities believes the new 'Thar' has the capability to lure fan base customers.

Mahindra commences bookings for the new Thar priced between Rs 9.8-13 lakh

The new generation Thar is available in 2-litre petrol and 2.2-litre diesel variants and deliveries will start from November 1

India first, tie-ups, long-term strategy will boost mfg sector: Mahindra MD

Pawan Goenka Calls for plug-and-play infrastructure of the kind that Vietnam has for large-scale manufacturing

Mahindra's Farm Equipment Sector rolls out Krish-e centres in Maharashtra

M&M's Farm Equipment Sector (FES), a part of the USD 19.4 billion Mahindra Group, on Friday said it has rolled out Krish-e centres in Maharashtra under its new 'Farming as a Service' business.

In pics: Mahindra unveils all-new Thar, price starts at Rs 9.8 lakh

Mahindra & Mahindra launched the all-new version of its sports utility vehicle Thar, price between Rs 9.8 lakh and Rs 13.75 lakh (ex-showroom)

Auto companies show signs of recovery, increase dispatches by 13%

Tractor sales also increased with largest tractor seller Mahindra & Mahindra selling 18 per cent more farm equipment indicating that a good monsoon was driving the rural economy

M&M raises Rs 1.11 crore by auctioning new Thar for Covid-19 relief work

Domestic auto major Mahindra & Mahindra Ltd on Wednesday said it has raised Rs 1.11 crore from online auctioning of the first unit of all-new version of SUV Thar, which is set to be launched on October 2. Mahindra has matched the amount raised at the auction and the total proceeds of Rs 2.22 crores will be donated towards coronavirus pandemic relief work, a release said. The idea of the auction was to harness Thar's iconic status to galvanise the country during this trying time and aid its fight against COVID-19 pandemic, it said. The online auction, which lasted for six days, witnessed almost 5,500 registrations from nearly 550 locations across the country. The auction reserve price was set at Rs 25 lakh, and the winning bid was placed at Rs 1.11 crore, M&M Ltd in the release. The winner has chosen Swades Foundation to receive the entire proceeds from the auction and support COVID-19 relief work, it added. "It is heartening to see the interest and generosity that this auction

Mahindra's latest drive, Thar, enters small segment of city off-roaders

Mahindra's move was overdue given that the city SUV segment has been aggressively targeted by competition

Ujjivan SFB makes foray into small CV financing for tier II, III cities

Ujjivan SFB said as part of the ''Raftaar Loans'' product mix, the customised offerings will be available across southern and eastern regions: Karnataka, Tamil Nadu, and West Bengal