Page 38 - Mahindra & Mahindra

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 .

Mahindra & Mahindra sells 22% stake in JV Mahindra Sanyo for Rs 1.46 bn

Mahindra & Mahindra today said it will sell 22 per cent of its stake in joint venture firm Mahindra Sanyo to Sanyo Special Steel Co Ltd for Rs 146.32 crore. "The company has today agreed to sell 26,36,401 equity shares of Rs 10 each held by the company in Mahindra Sanyo Special Steel Pvt Ltd (MSSSPL), aggregating 22 per cent of the paid-up equity share capital of MSSSPL, to Sanyo Special Steel Co., Ltd. for a consideration of Rs 146.32 crore," Mahindra & Mahindra (M&M) said in a BSE filing. MSSSPL is a joint venture (JV) between M&M (51 per cent) India, Sanyo Special Steel Co Ltd (29 per cent) Japan and Mitsui & Co Ltd (20 per cent) Japan. "Following the sale, company's shareholding in MSSSPL would come down to 29 per cent from 51 per cent of its share capital, and MSSSPL will cease to be a subsidiary of the company," Mahindra & Mahindra added. The transaction is expected to be completed by March 31 depending upon receipt of requisite ...

Mahindra's automotive division making shift from showrooms to small outlets

Mahindra & Mahindra's automotive division, known for its sports utility vehicles, plans to deepen service network in rural geographies by as much as 50 per cent in 18 months, instead of focussing on dealerships with integrated service centres.The company will expand its Mahindra Mitra Technician (MMT) network, started three-and-a-half years ago. The asset-light model, which has small two-bay service centres owned by local entrepreneurs, will expand from 3,000 touch-points to 5,000.The rural push comes on the back of a three-pronged strategy of increasing presence in rural regions, urban areas and on highways. Around 350,000 villages have access to the MMT network, officials said.This is part of M&M's overall network strategy was put in place three years ago when officials realised that the addition of 20 large-format dealerships every year was expensive and unable to match demand."Showrooms at bigger cities aren't affordable. The days of having a facility with 20 vehicles on ..

Spread too thin? Fewer businesses might make M&M a better conglomerate

When a large group spreads itself too thin, it dilutes focus on core businesses

Rural recovery powering growth for Mahindra's tractor, UV business

The stock of Mahindra & Mahindra (M&M) has gained nearly 10 per cent over the last three weeks and in the process touched its all-time high on expectations of strong volume growth given its rural-heavy portfolio. Almost 56 per cent of the company's standalone revenues and 72 per cent of its profit comes from the rural markets. The company, which has gained market share in tractors, is expected to benefit from the upcoming launches in the utility vehicle (UV) space as well as electric vehicle initiatives.Tractors growing rapidlyThe biggest trigger for the company will come from its tractor portfolio, which saw a 32 per cent year-on-year increase in volumes in November on the back of a healthy monsoon, robust kharif output and increased minimum support prices for crops. The company, which has increased its tractor market share from 41 per cent in FY16 to 46 per cent currently with gains across key states, is expected to benefit from rising rural incomes, push to direct benefit ..

M&M launches Detroit's first car manufacturing facility in 25 years

Indian automobile giant Mahindra & Mahindra has opened a new USD 230 million plant for an off- highway vehicle in Detroit, the world's car capital, which got its first automotive production facility in 25 years. The new plant will create 250 new jobs in the US, the world's top automotive market. "This is an exciting day for Mahindra...," Mahindra Group Chairman Anand Mahindra said. "This building opening represents our company's growing presence in North America and locally in the Metro Detroit area where we have tripled our workforce during the past 18 months. We are committed to growing the Mahindra brand in North America and Michigan," he said. "It is pretty rare and extraordinary," said Michigan Lieutenant Governor Brian Calley at the Mahindra automotive plant launch event yesterday in Detroit metropolitan area. "You are an important and vital part of the resurgence of Detroit," he told Mahindra employees and top officials of the company. In few weeks, the new .