* M&M Q2 PAT after EI at
* Consolidated PAT after EI at
* M&M Q2 Revenue
* XUV 7OO launch - an overwhelming response: 50,000 bookings in 3 hours, 70,000 plus to date
* XUV 7OO launch - an overwhelming response: 50,000 bookings in 3 hours, 70,000 plus to date
* Farm Equipment Sector (
* Farm Subsidiaries recorded 5th consecutive quarter of Positive PBIT; 2nd quarter over
* EV 3 wheelers volume with 68% market share up by 318% compared to Q2 FY2021
* Strong exports volumes: Farm up 105% (highest ever in H1); Auto up 86% compared to Q2 FY2021
Highlights of the financial results are:
M&M operating margin 12.5% despite rising commodity prices and shortage of semi-conductors
Strong growth in exports both in Auto and Farm businesses
Strong recovery across group companies ... Mahindra Finance NPA recovery on track
Porter, one of our new age digital platforms, valued at
Automotive
Very healthy booking pipeline and buoyant demand for the Company's products
Global shortage of semi-conductors has impacted the production and sales for another quarter
Overall 160k plus bookings with XUV7OO leading the way with 70k plus bookings
Stringent cost control measures have helped partially mitigate margin impact of commodity price increase
Farm Equipment
Farm Business delivered excellent performance with second highest Q2 in terms of (a) PBIT, (b) Domestic volumes, and (c) Export Volumes
Healthy growth of 1.9% in market share for M&M
Yuvo Tech+ tractors launched in 35, 39 & 42 HP range; powered by advanced 3-cylinder mZIP engine offering best in Class: Ergonomics, High precision lift capacity (up to 1700kg) and 6 years Warranty
Commenting on Q2 FY22 performance Dr.
Mr.
Mr.
Disclaimer:
All statements included or incorporated by reference in this media release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and projections about our industry, management's beliefs and certain assumptions made by us. Although M&M believes that the expectations reflected in such forward- looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Any forward-looking statement speaks only as of the date on which such statement was made, and M&M undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them.
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SVP, Group Communications
Email:chainani.varsha@mahindra.com
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