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Target: ₹1,998
CMP: ₹1,835.55
Mahindra & Mahindra standalone revenue from operations grew by 16.8 per cent y-o-y/4 per cent q-o-q, mainly driven by strong Automotive sales as well as premium mix of products in the Farm Equipment (FE) segment. Amongst segments, Automotive revenue grew by 25.5 per cent y-o-y/0.9 per cent q-o-q to ₹18,577 crore, consequently, Farm Equipment (FE) revenue grew by 7.3 per cent y-o-y/13.8 per cent q-o-q to ₹6,735 crore.
The strong operational performance led PAT to grow by 60.6 per cent y-o-y to ₹2,454 crore.
M&M continues to post healthy volume across its Auto Division mainly led by the UV and 3-wheeler category which has led to consistent growth in its revenue and realisations.
Going ahead, the management expects its UV portfolio to outpace the industry growth which shall result in revenue and margin expansion as well as maintain its leadership position in the revenue market share. Additionally, market share growth, new products and improvement in segmental profitability in FE business shall prove to be positive for the company.
Further, the monetisation of its EV business could turnout to be the next leg of growth for the company.
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