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MarketScreener Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF INDIA  >  Mahindra and Mahindra Ltd    M&M   INE101A01026

MAHINDRA AND MAHINDRA LTD (M&M)
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Mahindra and Mahindra : First Choice Services Forays into Branded Generic 2-Wheeler Spare Parts

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02/12/2018 | 05:31am EST

Mumbai, February 12, 2018: Mahindra First Choice Services (MFC Services), India's largest chain of multi-brand car service workshops, and a fully owned subsidiary of the USD 19 billion Mahindra Group, has announced its foray into branded generic 2-wheeler spare parts. MFC Services has a strong foothold in the 4-wheeler spare parts segment with its branded spare parts label - MFC Spares. MFC Spares will now expand its existing portfolio of 4-wheeler spares to include a comprehensive list of fast-moving 2-wheeler spares like filters, horns, oil and electrical relays, among others.

The automotive spares market is currently pegged at INR 56,098 crores as per the Indian Automotive Aftermarket ACMA report (2016-17).

MFC Services is India's largest chain of multi-brand car workshops with over 340 workshops, present in 250+ towns across 24 states. MFC Spares has been offering branded generic auto spares, sourced from quality suppliers, at competitive rates, through its country-wide network of 60 distributors in 25 States. With this new product line, MFC Services plans to increase its footprint to 200 distributors by FY-2020. The Company is currently engaged with 3000 retailers and 8000 mechanics across the country. It aims to establish a country-wide network of over 1000 workshops.

Commenting on the new product line YVS Vijay Kumar, CEO, Mahindra First Choice Services said, 'MFC Spares was set up to address the challenge of availability of high-quality auto-spares, at competitive prices and with faster delivery timelines. These parts are very popular in our 340 workshop strong 4-wheeler franchise service network, as well as with our bazaar distribution channel. Our foray into the 2-wheeler spares segment was a natural progression, on the back of the success of the 4-wheeler spares business over the last three years. This new foray marks yet another step that will take us closer to our vision of creating a transparent & trust-worthy eco-system for the vehicle after-market in India,' he further added.

MFC Spares will offer spare parts of leading 2-wheeler brands like Yamaha, Hero, Honda, Bajaj, Suzuki, Royal Enfield, TVS, among others. Spare parts will be available for Scooters (non-geared) as well as geared 2- wheelers.

Focused on maximizing the Profit and Output of all in the value chain, MFC Services operates on a unique sales and supply chain model - M-PRO. The company focuses on Natural Demand Generation and Pull rather than the Push method which is the traditional model. It ensures very high ROI for its distributors and retailers by keeping low inventories but increased availability so that the material turns around much faster.

The MFC Spares brand stands for smart replacement and is targeted at customers who want quality and value for money spares for their cars.

MFC Services supports its franchisees nation-wide with a robust supply chain for spare parts through its cluster warehouse network. Each cluster warehouse supplies parts as per the daily requirements of the Franchisee Owned Franchisee Operated workshops, thus reducing the need to maintain huge inventories at the workshop.

About Mahindra First Choice Services

Mahindra First Choice Services (MFCS) is a wholly owned subsidiary of the USD 19 billion Mahindra group and is India's largest chain of multi-brand car workshops with over 340 workshops, present in 250+ towns across 24 states.

Marching towards its vision - to be amongst the top 3 service providers for out of warranty cars by 2018, MFC Services is aggressively making inroads in the Indian car service market, which has historically been shared by OEM dealers and Independent Garages. The company aims to establish a country wide network of over 1000 workshops.

MFC Services entered the business of private label spare parts for all brands of cars under the 'MFC' brand name. MFC Services has also launched a unique digital initiative, Carworkz - an innovative car servicing workshop aggregator. Targeted at all car owners, this mobile and web based platform, enables them to find the best and nearest workshops for servicing their car. They can get service estimates through the innovative service estimator tool, avail of exclusive offers and conveniently book appointments on the go.

Mahindra First Choice Services is also certified as a 'Great Place to Work' organization.

Visit us at www.mahindrafirstchoiceservices.com

About Mahindra

The Mahindra Group is a USD 19 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It has a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world's largest tractor company, by volume. It also enjoys a strong presence in agribusiness, aerospace, commercial vehicles, components, defence, logistics, real estate, renewable energy, speedboats and steel, amongst other businesses. Headquartered in India, Mahindra employs over 2,40,000 people across 100 countries.

Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise

Media contact information:
Metabelle Lobo
General Manager, Group Communications
Mahindra & Mahindra Ltd.
Mahindra Towers, Worli,
Mumbai - 400018
Phone: +91 22 24975178
Email: lobo.metabelle@mahindra.com

Mahindra & Mahindra Ltd. published this content on 12 February 2018 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 12 February 2018 10:30:05 UTC.

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Financials (INR)
Sales 2019 546 B
EBIT 2019 58 246 M
Net income 2019 49 128 M
Finance 2019 49 662 M
Yield 2019 1,24%
P/E ratio 2019 17,30
P/E ratio 2020 15,32
EV / Sales 2019 1,45x
EV / Sales 2020 1,20x
Capitalization 841 B
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Average target price 962  INR
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NameTitle
Pawan Kumar Goenka Managing Director & Executive Director
Anand Gopal Mahindra Executive Chairman
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Ulhas Narayan Yargop Group CTO & Group President-IT Sector
Keshub Kailash Mahindra Chairman-Emeritus
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