Page 6 - Mahindra

Tata Motors, Mahindra gain certificates for production-linked payouts

Indian automakers Tata Motors and Mahindra and Mahindra have received domestic value certificates, a metric key to qualifying for payouts under the nation's production-linked incentive scheme

Mahindra launches 7 lightweight 4WD OJA tractors, beginning at Rs 5.64 lakh

The tractors were developed in collaboration with Mitsubishi at an investment amounting to Rs 1,200 crore

M&M jumps 3% as Q1 results impresses Street; brokerages remain bullish

In the recently concluded quarter, the company's consolidated revenue rose 19 per cent YoY to Rs 33,892 crore

Mahindra Thar, XUV300, Bolero selling at up to Rs 73,000 off in July 2023

Select Mahindra dealerships in India are offering high discounts on different car models from Rs 5,000 to 73,000, which includes cash discounts and other benefits

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 .

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.

Mahindra LMM holds ground-breaking ceremony of EV facility in Telangana

Mahindra Last Mile Mobility (LMM), a part of Mahindra & Mahindra (M&M), on Monday held a ground-breaking ceremony for a new manufacturing unit at its existing plant here. Telangana Minister for Industries K T Rama Rao was the chief guest, a press release from the automaker said. The initiative is pursuant to the announcement of the Rs 1,000 crore investment in Telangana that M&M made in February this year. With this new facility, the company aims to build a state-of-the-art battery assembly line, producing power packs and manufacture electronic as well as drivetrain components for electric 3 and 4-wheelers, it said. The facility would also create employment for 800 to 1,000 employees in the region. Rama Rao, said EVs are a focus area for the Telangana Government which is committed to develop the right infrastructure and ecosystem for promotion and adoption of electric vehicles. "This new facility will help in proliferation of EVs not just in Telangana but across India. ...

Origins by Mahindra signs Mitsubishi Electric for $222 mn Chennai project

The new unit will be Mitsubishi Electric's first air-conditioner and compressor manufacturing plant in India; is expected to begin operations by October 2025

Keshub Mahindra: A leading industrialist very different from the ultra-rich

He was close to his workers, the doors were always open for them, and he treated them as part of one big family

Mahindra & Mahindra to bring 40 tractor models under new OJA brand

Mahindra & Mahindra Ltd on Thursday said its tractor division will bring 40 new models under a new brand OJA, built on a lightweight global platform. The Mahindra OJA tractors will focus on both domestic and international markets including the US, Japan and South-East Asia, the company said in a statement. It will have four sub-tractor platforms the sub-compact, compact, small utility and large utility tractor categories, covering 40 models across various multiple HP points, it added. The new future-ready range of tractors has been developed under the global tractor programme, K2 through close cooperation between the engineering teams of Mitsubishi Mahindra Agriculture Machinery, Japan, and Mahindra Research Valley, India, the R&D centre for Mahindra's Auto and Farm sector, the company said. "Slated for launch later this year, the OJA is Mahindra's future-ready approach to tractorisation exemplified by numerous first best-in-class technologies for improved performance and ...

Mahindra records 21% rise in total sales to 66,091 units in March

Mahindra & Mahindra (M&M) on Monday said its total sales increased by 21 per cent year-on-year to 66,091 units in March. The company had dispatched 54,643 units to dealers in March 2022. In a statement, the Mumbai-based auto major said its utility vehicle wholesales rose by 31 per cent to 35,976 utility vehicles in March, as against 27,380 units in the year-ago period. It was the company's highest-ever utility vehicle wholesales in a month. M&M said its exports last month stood at 2,115 units, as against 3,160 units in the year-ago period, a drop of 33 per cent. For the last financial year, the company sold 3,56,961 utility vehicles, an increase of 60 per cent over 2,23,682 units in 2021-22. "Our SUV business recorded all-time high numbers, with a growth of 31 per cent in March 2023, while it recorded a 60 per cent overall growth in FY23, on the back of good demand across the portfolio," M&M President, Automotive Division Veejay Nakra said in the statement.

Ecofy, Mahindra Solarize team up for rooftop solar financing, installation

Promoted by Eversource Capital, Ecofy aims to be a catalyst in accelerating the transition towards a net zero carbon world

Maruti, Hyundai market share dips in Feb; Tata, Mahindra gain: FADA

Maruti Suzuki India and Hyundai Motor India saw a dip in their market share in February while Tata Motors, Mahindra and Kia India witnessed an year on year increase last month. As per the retail sales data collated by the Federation of Automobile Dealers Associations (FADA), Maruti Suzuki's retail sales last month stood at 1,18,892 units as compared with 1,09,611 units in February 2022. The auto major's market share however declined marginally to 41.40 per cent in February from 42.36 per cent in the year-ago period. Similarly, Hyundai Motor India's market share last month dipped to 13.62 per cent against 14.95 per cent in February 2022. The company retailed 39,106 units last month as compared with 38,688 units in the same month last year. As per FADA, Tata Motors retail sales rose to 38,965 units in February from 34,055 units in the year ago period. Its market share rose to 13.57 per cent last month from 13.16 per cent in February 2022. Similarly, Mahindra & Mahindra saw its ...

Mahindra Racing withdraws from Formula E due to rear suspension concerns

In a major setback to its championship hopes, Mahindra Racing on Saturday withdrew from the Formula E race here on Saturday due to safety concerns over rear suspension. Mahindra made the decision during the qualifying ahead of the Cape Town E-Prix, and following practice, where its driver Lucas di Grassi had pulled off the circuit with a broken rear suspension. The Indian manufacturer made the decision on safety grounds pending further investigation into the exact cause of the problem. It is the first time Mahindra have had to pull out from the race in the championship. Mahindra have been part of Formula E since the inaugural season in 2014. Customer team ABT CUPRA, which also runs the M9Electro, have also withdrawn from the weekend. "Mahindra Racing have confirmed their withdrawal from the ABB FIA Formula E World Championship qualifying sessions and the Cape Town E-Prix Round 5 due to rear suspension safety concerns," said Mahindra in a statement. "A thorough investigation on the

Mahindra launches all electric racing 'Gen3 Formula E race car' in India

The Mahindra Formula E and the Mahindra Advanced Design Europe (M.A.D.E.) teams collaborated on the livery design of the Gen3 car

Price war comes to EVs as Tata makes Nexon cheaper after M&M's new launch

Tata says the move was taken after the company received benefits from additional locations, government initiatives, and production efficiency

Tech Mahindra to come out with moonlighting policy this month: Report

Many employees working from home during the pandemic took up side jobs without the approval of their parent firm

'Not possible to do away with repossession agents': Mahindra Finance MD

'Specialised people' needed to ensure loan defaulters don't cheat company, says Ramesh Iyer in interview

Mahindra Lifespaces Developers logs net loss of Rs 8 crore in Q2

The company has also set a target of achieving annual residential sales of Rs 2500 crore and annual leasing of Rs 500 cr

NBFCs' recovery to be hit after RBI action against M&M Financial Services

Moreover, as lenders will not deploy their own staff for such activity, their operation costs may go up, said experts