Page 38 - Mahindra & Mahindra

M&M reports 16% decline in Q4FY19 consolidated net profit at Rs 969 crore

Revenue for the period under review stood at Rs 13,808 crore - up 4.7% on a year on year basis

Mahindra keen to make South Africa hub for its exports in the continent

Mahindra wants to make South Africa the hub of its exports into the rest of the Africa, a senior official of the company has said. Arvind Mathew, Chief of International Operations at Mahindra & Mahindra, joined Rajesh Gupta, CEO of the company's local subsidiary, Mahindra SA, on Friday to launch two models in the 7500 series and three in the 6000 series of its tractors from its farming equipment range, which are very popular in India and several other countries. Africa is the future agricultural base of the world, Mathew told reporters and farming sector representatives at the event in the heart of the farming community in North West Province. In the15 years that Mahindra has been in South Africa, it is very well recognised in the automotive and information technology sectors, and today we are announcing our advent into this sector with our farming equipment, he added. Alongside the two tractors, the guests were also introduced to the entire range of farm equipment, including ...

M&M's XUV300 shines in compact SUV segment, bookings cross 13,000-mark

The brisk sales of the XUV300 is good news for M&M

Mahindra launches e-mobility platform 'Glyd' in bid to popularise EVs

Glyd has tied up with Vodafone-Idea, Cisco Systems and other service and content providers to launch the service in Mumbai

Higher tractor and auto sales drive Mahindra December quarter net up 7%

Operating margins during the quarter contracted to 13.2% from 14.7% a year ago, due to higher raw material costs that the company was unable to pass on to buyers

Mahindra & Mahindra hits 52-week low; cracks 15% so far in January

The stock was down 1.4 per cent at Rs 687, its lowest level since December 8, 2017, on the BSE.

M&M hikes stake in Ssangyong Motor to 74.65%, picks shares worth Rs 316 cr

Homegrown auto major Mahindra & Mahindra (M&M) Wednesday said it has increased stake in its South Korean arm Ssangyong Motor Company to 74.65 per cent with subscription of additional shares worth Rs 316.5 crore. In response to offer of shares made by Ssangyong Motor Company (SYMC), the company has agreed to subscribe to 1,18,90,606 equity shares of SYMC, M&M said in a regulatory filing. The subscription has been done at a price of KRW (South Korean won) 4,205 per equity share aggregating KRW 50 billion, equivalent to around Rs 316.5 crore, it added. "Pursuant to the above, the shareholding of the company (M&M) in SYMC would increase from 72.46 per cent to 74.65 per cent," M&M said. The transaction is expected to be completed by February 24, it said. In August 2010, M&M had first signed an agreement to acquire the then ailing SYMC and completed the acquisition with 70 per cent stake for USD 463 million in March 2011. Since then, it had gradually increased its ...

Mahindra sees 13% rise in tractor sales in Nov, says demand to rise in Q4

Mahindra & Mahindra (M&M) Monday reported 13 per cent increase in tractor sales at 25,949 units in November as against 22,994 units in the same month last year. In the domestic market, tractor sales stood at 25,159 units as compared to 21,271 units in November 2017, up 18 per cent, the company said in a statement. Exports, however, declined by 54 per cent to 790 units from 1,723 units in the year-ago month, it added. "Retail demand remained positive through the festive season," M&M President - Farm Equipment sector Rajesh Jejurikar said. On the outlook, he said, "We expect that structural factors such as government's continued focus on rural and agri spends and momentum on key crop prices will ensure the demand uptick for tractors continues into Q4 of the current fiscal.

Mahindra pitches eco-friendly electric skate-scooter for last-mile mobility

The electric skate-scooter will be offered as a one-person mobility solution that can be hired at low rates in order to navigate short distances across crowded streets

Mahindra & Mahindra Marazzo to get costlier by up to Rs 40,000 from Jan 1

Mahindra & Mahindra Friday said it will increase price of its newly launched multi-purpose vehicle (MPV) Marazzo by Rs 30,000 to Rs 40,000 from January 1, 2019. The Marazzo was launched in September with introductory prices starting at Rs 9.99 lakh and going up to Rs 13.90 lakh, depending on variants. "As mentioned at the launch, the price of Marazzo was an introductory one. Effective January 1, 2019, we will be taking a price hike on the Marazzo, after a reasonable period of four months from its launch," Mahindra and Mahindra Chief of Sales and Marketing Automotive Division Veejay Ram Nakra said in a statement. The new MPV has been been co-designed by the Mahindra Design Studio and Italian design house, Pininfarina. It has been engineered in collaboration with the Mahindra North America Technical Technical Centre and the Mahindra Research Valley, Chennai.

Margin pressure, revised volume outlook weigh on Mahindra & Mahindra stock

The stock of Mahindra & Mahindra (M&M) was down about 2.6 per cent on margin pressure and a revision in volume outlook for both the auto and tractor segments. While September quarter results were more or less in line with estimates, the company could see pressure on profitability, going ahead. Even in the quarter gone by, while overall margins were down 150 basis points (bps) to 14.5 per cent, segment margins for auto and tractors slid by 280 bps and 100 bps respectively. The sharper fall in auto segment margins was on account of higher raw material costs, attractive pricing for new launches, and higher marketing costs. While the company was able to pass on some of the raw material cost pressures, it had to absorb the rest. Segment level margins for the auto sector, which came in at 7.8 per cent, could come under pressure as the firm has lined up two launches in the December and March quarters. While M&M has not indicated whether it will take up price hikes, margins could .

M&M eyes No. 3 spot in heavy-duty truck market with 10% share in 2 years

A steady climb in volumes has helped the company double its market share in the segment to 5% in the first six months of the financial year from the year-ago period

M&M enters vehicle leasing business via tie-up with Orix, ALD Automotive

A leased vehicle will be available for up to five years, depending on city and model

Volume upgrades, rural uptick, new launches boost M&M earnings outlook

The new launches of Mahindra & Mahindra expected to improve market share, which has been lagging its key competitors

Mahindra XUV700 launch on October 9: What to expect from this 7-seater SUV

Codenamed the Y400, the SUV will be a rebranded version of the Ssangyong Rexton G4 with heavy customisations for the Indian market

Mahindra & Mahindra Financial Services net up 34% at Rs 2.69 billion

The company had registered a net profit of Rs 2.01 billion April-June quarter last year

M&M sales shoot up 10% in March, FY18 sales rise 8% at 549,154 units

Automaker Mahindra & Mahindra today reported a 10 per cent increase in total sales at 62,077 units in March as against 56,202 units for the same month last year. In the domestic market, M&M's sales also went up by 10 per cent to 58,653 units last month as against 53,493 units a year earlier, the company said in a BSE filing. Exports were up 26 per cent at 3,424 units as compared to 2,709 units in the same period a year ago. Sales of passenger vehicles stood at 26,555 units compared with 25,523 units in March 2017, up 4 per cent. Commercial vehicle sales also went up 11 per cent to 25,496 units last month against 22,908 units in year ago period, M&M said. Commenting on the outlook, M&M President, Automotive Sector, Rajan Wadhera said: "We are particularly buoyed by the growth of our truck business, which has outperformed the industry. With three of our critical new automotive launches lined up in 2018-19, we are confident of increasing our market share in the utility ...

Mahindra & Mahindra February sales up 19% to 51,127 units; exports rise 15%

Homegrown automaker Mahindra & Mahindra (M&M) today posted a 19 per cent growth in its February sales at 51,127 units. The company had sold 42,826 vehicles during the same month last year, M&M said in a statement. The passenger vehicles volumes (which includes UVs, cars and vans) grew 8 per cent at 22,389 units in February 2018 as against 20,717 units in February last year. Commercial vehicle sales during the month jumped 28 per cent to 20,946 units compared to 16,383 units in the same month of 2017. Commenting on the performance, M&M President, Automotive Sector, Rajan Wadhera said: "This performance comes on the back of a sustained momentum and demand, both in the personal and commercial vehicle segments, which we believe will also continue in the month of March." Domestic sales in February stood at 48,473 vehicle as against 40,526 units in the year-ago period, registering a growth of 20 per cent. Exports during the month grew 15 per cent to 2,654 units as against ..

Mahindra Group to invest Rs 9 bn more into electric vehicle venture

The current investment plan aims to take the capacity to 5,000 units a month

M&M Q3 standalone net up 12% at Rs 12.1 bn; tractor sales rise 6%

Mahindra & Mahindra today reported 12.49 per cent increase in standalone net profit at Rs 1,215.91 crore in the third quarter ended December 2017. The company had posted a standalone net profit of Rs 1,080.85 crore in the same period of the last fiscal, Mahindra & Mahindra said in a statement. Revenue from operations was at Rs 11,577.78 crore. It stood at Rs 11,843.74 crore in the year-ago period. The two figures are not comparable as revenue from operations under pre-GST regime included excise duty, which is now subsumed in GST. During the quarter, the company said, it sold a total of 1,21,786 vehicles, up 8 per cent from the same period last fiscal. Passenger vehicles reported a growth of 6.1 per cent, it added. Tractor sales were also up 6 per cent at 76,943 units in the third quarter, it said. "In Q3 F2018, normal north-east monsoons and good reservoir levels helped in boosting the rural sentiment and demand for tractors," M&M said. The healthy reservoir .