Mahindra & Mahindra Limited (M&M), one of India's leading automotive and farm equipment manufacturers, has reported robust financial results for the first quarter, demonstrating strong growth across its business segments.

Financial Highlights

• Consolidated revenue increased by 22% year-over-year to Rs 45,529.00 crore
• Consolidated Profit After Tax (PAT) grew by 24% to Rs 4,083.00 crore
• Return on Equity (RoE) stood at 20.60%
• Earnings Per Share (EPS) reached Rs 36.40

Automotive Segment Performance

The automotive division of M&M showcased impressive growth:

• SUV volumes surged by 22% year-over-year
• SUV revenue market share expanded by 570 basis points to 27.30%
• Light Commercial Vehicle (LCV) market share in the <3.5T segment increased by 340 basis points to 54.20%

Farm Equipment Sector

The farm equipment sector also demonstrated strong performance:

• Tractor market share improved by 50 basis points to 45.20%
• Tractor volumes grew by 10% year-over-year

Operational Excellence

M&M maintained strong margins across its core businesses:

• Auto standalone PBIT (Profit Before Interest and Tax) margin, excluding e-SUV contract manufacturing, stood at 10.00%
• Farm equipment standalone PBIT margin improved to 19.80%

Services and Subsidiary Performance

• Mahindra & Mahindra Financial Services Limited (MMFSL) reported a 15% growth in Assets Under Management (AUM)
• Tech Mahindra showed progress in margin expansion, with EBIT margin improving by 260 basis points to 11.10%

Management Commentary

Dr. Anish Shah, Group CEO & Managing Director of M&M, commented on the results: "Q1 has been an excellent quarter, with broad-based growth across all our businesses. The operating excellence in our Auto and Farm businesses is evident in continued market share gains and margin expansion. TechM is witnessing momentum on deal wins, sustaining cost discipline and is moving steadily towards its margin objectives."

Mr. Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), added: "Our Auto and Farm businesses continue to lead with strong momentum in Q1, with gain of 570 bps YoY in SUV revenue share, and 340 bps YoY in LCV (< 3.5T) market share. In Tractors, we gained 50 bps YoY to reach 45.2% market share, the highest ever in a quarter."

Company Outlook

While the company did not provide specific future guidance, the strong performance across segments and continued focus on electric vehicles suggest a positive outlook. M&M's leadership in SUVs, tractors, and electric 3-wheelers positions it well for future growth in the evolving automotive and farm equipment markets.

The company's strategic investments in electric vehicles and focus on maintaining strong market presence in both electric and ICE vehicles indicate its commitment to adapting to changing market dynamics while maintaining profitability.

Mahindra & Mahindra (M&M), one of India's leading automotive and farm equipment manufacturers, has reported strong financial results for the first quarter, demonstrating resilience and growth across its key business segments.

Financial Highlights

• Consolidated revenue surged by 22% to Rs 45,529.00 crore
• Consolidated Profit After Tax (PAT) increased by 24% to Rs 4,083.00 crore
• Return on Equity (RoE) stood at 20.60%
• Earnings Per Share (EPS) reached Rs 36.40

Automotive Sector Performance

M&M's automotive division showcased impressive growth:

• SUV volumes grew by 22% year-on-year
• SUV revenue market share expanded by 570 basis points to 27.30%
• Light Commercial Vehicle (LCV) market share in the <3.5T segment increased by 340 basis points to 54.20%
• Auto standalone PBIT margin (excluding eSUV contract manufacturing) improved by 50 basis points to 10.00%

Farm Equipment Sector

The farm equipment sector also demonstrated strong performance:

• Tractor market share increased by 50 basis points to 45.20%, the highest ever in a quarter
• Tractor volumes grew by 10% year-on-year
• Core Tractor PBIT margins improved by 100 basis points to 20.70%

Services and Other Segments

• Mahindra & Mahindra Financial Services Limited (MMFSL) reported a 15% growth in Assets Under Management (AUM)
• Tech Mahindra showed progress in margin expansion, with EBIT margin improving by 260 basis points to 11.10%
• Mahindra Logistics demonstrated strong revenue momentum with 14% growth

Management Commentary

Dr. Anish Shah, Group CEO & Managing Director of M&M Ltd., stated, "Q1 has been an excellent quarter, with broad-based growth across all our businesses. The operating excellence in our Auto and Farm businesses is evident in continued market share gains and margin expansion."

Mr. Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), highlighted the strong momentum in Auto and Farm businesses, emphasizing the significant market share gains in SUVs, LCVs, and tractors.

Mr. Amarjyoti Barua, Group Chief Financial Officer, expressed satisfaction with the group's performance despite macro challenges, including geopolitical disruptions, and reaffirmed the company's commitment to shareholder value creation through continued focus on capital discipline and operational metrics.

Outlook

While the company did not provide specific forward-looking guidance, the strong performance across segments and management's positive commentary suggest a favorable outlook for Mahindra & Mahindra. The company's focus on electric vehicles, with a 31.80% market share in eSUV volumes, also positions it well for future growth in the evolving automotive landscape.

Mahindra & Mahindra's robust Q1 results demonstrate the company's ability to navigate challenges and capitalize on market opportunities, setting a positive tone for the future.