Page 39 - Mahindra & Mahindra

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 .

Mahindra Group launches 'Prerna' empowerment project for women farmers

Mahindra & Mahindra today said it has launched a programme, Prerna, to empower women working in the agriculture sector by promoting efficient and ergonomic farm tools and equipment. "The project will be initially launched in the state of Odisha, with the intention to positively impact the lives of over 1,500 families across 30-plus villages," Mahindra & Mahindra said in a statement. The company, which is part of the USD 19 billion Mahindra Group, yesterday celebrated the 'Mahila Kisan Diwas' with the launch of this programme. The first project under Prerna is a collaboration between Mahindra & Mahindra, the Central Institution for Women in Agriculture (CIWA), a department of the Indian Council of Agricultural Research (ICAR), and the NGO Pradan (Professional Assistance for Development Action). The company said that there are 100 million women and many of them work long hours in the fields, often with tools and equipment not suited for women. The first project

Haven't made any decision on phase two of contract with EESL: M&M MD

Mahindra & Mahindra (M&M) today said it is yet to take a call on taking part in the second phase of tender bidding for supplying 9,500 electric vehicles (EVs) to the state-run Energy Efficiency Services Ltd (EESL), saying it would lose money with the present cost structure. The orders for supply of 9,500 electric cars in the second phase will be issued after the completion of deliveries of 500 EVs in the first phase. Mahindra & Mahindra will supply 30 per cent of the 500 cars in the first phase of the tender as it is finding it difficult to match the price being offered per unit by Tata Motors. The utility vehicle major said it will have to take a "hard look" at how it could justify participating in the next phase of the tender. In the first phase, Tata Motors would supply 250 cars while M&M would pitch in with 150 units of e-Verito. "We were offered 50 per cent of the tender (500 units) in the first phase but we opted for 30 per cent as we would be ...

M&M bags EESL contract to supply 150 e-sedans; matches TaMo's Tigor price

EESL to source 150 eVeritos in phase I while Tata Motors will supply the remaining 350 electric Tigors

M&M to drive ahead on tractor growth, low valuations

Volumes in UVs also expected to rise with new launches next year

M&M to buy Turkish tractor firm for Rs 815 crore

Firm to acquire firm's foundry business for Rs 328 cr

M&M to acquire tractor manufacturing, foundry firms in Turkey for Rs 735 cr

Mahindra & Mahindra (M&M) today said it has signed pacts with Turkey-based Erkunt group to acquire its tractor manufacturing and foundry businesses from for about Rs 735 crore. M&M said it will acquire Erkunt Traktor Sanayii for Rs 478 crore, a move which is aimed at entering the fourth largest tractor market in the world. Besides, it has inked a share purchase agreement to acquire 80 per cent stake in Erkunt Sanayi AS for Rs 257 crore. The entity is engaged in production of engine blocks, cylinder heads and transmission cases. M&M said it will acquire 100 per cent share capital of Erkunt Traktor thus giving it access to Turkish market. "Through this acquisition, the company would also acquire a wide product portfolio," M&M said in a regulatory filing. The transaction is expected to be closed by November 30, 2017. Established in 2003, Erkunt Traktor manufactures and markets tractors under Erkunt brand in Turkey. It also exports ...

M&M sales up 3.75% at 42,116 units in August

Auto major Mahindra & Mahindra today reported a 3.75 per cent increase in total sales at 42,116 units in August. The company had sold 40,591 units in the same month last year, the company said in a statement. In the domestic market, sales were up 7.01 per cent at 39,534 units last month as compared to 36,944 units in August 2016. Exports were down 29.72 per cent at 2,582 units in August against 3,674 units in the same month last year. Sales of passenger vehicles, including Scorpio, XUV500, Xylo, Bolero and Verito, were up 5.91 per cent at 19,325 units as compared to 18,246 units in the same month last year. Commercial vehicle sales were up 16.50 per cent at 16,303 units in August against 13,993 units in the year-ago period, M&M said. M&M President Automotive Sector Rajan Wadhera said the upsurge in demand has been due to good monsoons and rural penetration. "Our brands continue to gain traction despite several external challenges. As we get into festive season, we ..

Mahindra launches new tractor brand Trakstar from Gujarat arm

Trakstar will be offered in five segments within 30-50 horse power category

Mahindra & Mahindra vehicles to get smarter with Android Auto

The automaker has joined hands with Google to better the connectivity options for its users

M&M: Tractors to keep growth engine going

Muted June quarter marred by GST compensation, one-offs and utility vehicle underperformance

M&M overall July sales rise 6% at 41,747 units

Leading SUV manufacturer Mahindra & Mahindra (M&M) on Tuesday reported an increase of six per cent in its overall sales for July.

M&M rallies 6% post Q4 on robust outlook for FY18; top index gainer

The company has a robust outlook for FY18, assuming a favourable global and domestic backdrop

M&M: Tractor sales help beat Street estimates

Robust outlook for segment masks weak UV prospects

Mahindra & Mahindra Q4 PAT rises about 20%

REUTERS - Automaker Mahindra & Mahindra Ltd posted a nearly 20 percent rise in fourth-quarter profit after tax on Tuesday, beating analysts' estimate.

GST: M&M to set up new battery assembly unit near Pune after 12% levy

Automaker will invest in building long-range electric vehicles, high-power battery packs