Mahindra & Mahindra Ltd. (M&M) reported consolidated This autumn web revenue grew 4% to ₹2,754 crore from a yr earlier regardless of low rural demand resulting in decrease tractor gross sales and weaker profitability at Tech Mahindra.
This autumn Consolidated income grew 9% to ₹35,452 crore over the identical interval final yr. The agency’s consolidated web revenue grew 10% in FY24 to ₹11,269 crore and income grew 15% to ₹1,39,078 crore.
Anish Shah, MD & CEO, M&M Ltd. mentioned, “It has been a superb yr with mostof our companies delivering excessive degree of efficiency. Auto continued its excessive development trajectory, farmgained share in a troublesome market and Mahindra Finance delivered on asset high quality. Tech Mahindra was a weak spot, the turnaround has commenced with the brand new group in place.”
“Development gems are performing effectively,with Mahindra Susten and final mile mobility main the best way. We additionally made progress on sustainability, variety andgirls empowerment,” Mr. Shah added.
The auto phase reported 32% development in This autumn web revenue at ₹2,038 crore and annual development of 64% at ₹10,718 crore. Annual revenues grew 17% to ₹1,01,219 crore.
In FY24 the agency offered 8,24,939 automobiles, up 18% year-on-year (YoY). However tractor gross sales had been down 7% YoY to three,74,955 items.
The board has declared a dividend of ₹21.10 per fairness share with face worth of ₹5.
The corporate additionally introduced to take a position ₹37,000 crore within the subsequent three years to develop new fashions. Out of this ₹27,000 crore will probably be invested within the auto division – ₹14,000 crore for ICE automobiles and ₹12,000 crore for EVs.
By 2030 M&M will introduce seven ICE and EV SUVs in every of the segments. Manufacturing is being ramped up from 49,000 items a month in FY24 to 64,000 items a month in FY25 and 72,000 items a month in FY26.
The corporate which lately unveiled the XUV 3XO mentioned it acquired 50,000 bookings in a single hour. Apart from this, the corporate as on Could 1, 2024 had whole bookings of two,20,000 items of its numerous SUV fashions.
