Mahindra & Mahindra Ltd. has released its financial results for the June quarter, showing a mixed performance. While the company’s net profit declined by 5% to ₹2,613 crore, it achieved significant growth in revenue and EBITDA.
Key Financial Highlights
– Net Profit: ₹2,613 crore (down 5% year-on-year)
– Revenue: ₹27,039 crore (up 12% year-on-year)
– EBITDA: ₹4,023 crore (up 22% year-on-year)
– EBITDA Margin: Expanded to 14.9% (expected to be 13.8%)
The EBITDA margin improved by 120 basis points from the previous year, driven by a favorable product mix. EBITDA exceeded expectations, reflecting robust operational efficiency.
Business Segment Performance
– Automotive Business:
– Revenue: ₹18,947 crore (up 13% year-on-year)
– Volume Growth: 13%
– EBIT Margin: Increased to 9.5% from 7.7% last year
– Farm Equipment Business:
– Revenue: ₹8,144 crore (up 9.8% from ₹7,455 crore last year)
– Volume Growth: Nearly 6%
– EBIT Margin: Expanded to 18.5% from 17.5% last year
Market Share and Production Capacity
– Market Share:
– LCV Segment: Increased by 160 basis points to 50.9%
– Tractors Business: Increased by 180 basis points to 44.7%
– SUV Production Capacity: On track to increase to 64,000 units per month by FY2025, up from 49,000 units per month at the end of FY2024.
| Metric | Value |
|---|---|
| Net Profit | ₹2,613 crore |
| Net Profit Change | -5% year-on-year |
| Revenue | ₹27,039 crore |
| Revenue Change | +12% year-on-year |
| EBITDA | ₹4,023 crore |
| EBITDA Change | +22% year-on-year |
| EBITDA Margin | 14.9% |
| Expected EBITDA Margin | 13.8% |
| Automotive Revenue | ₹18,947 crore |
| Automotive Revenue Growth | +13% year-on-year |
| Automotive Volume Growth | +13% |
| Automotive EBIT Margin | 9.5% |
| Farm Equipment Revenue | ₹8,144 crore |
| Farm Equipment Revenue Growth | +9.8% year-on-year |
| Farm Equipment Volume Growth | +6% |
| Farm Equipment EBIT Margin | 18.5% |
| Market Share in LCV Segment | 50.9% |
| Market Share in Tractors Business | 44.7% |
| SUV Production Capacity | 64,000 units per month by FY2025 |
| SUV Production Capacity (FY2024) | 49,000 units per month |
Management Commentary
Group CFO Amarjyoti Barua highlighted the company’s focus on margin expansion and meeting external commitments. “We delivered robust margin expansion across our businesses through focused execution. We continue to meet our external commitments. We have also commenced our capital investment plans as communicated in May 2024,” he said.
Mahindra & Mahindra’s June quarter results reflect a strong operational performance despite a dip in net profit, and the shares were trading 0.92% higher at ₹2,949.10 on NSE.
