• Mahindra & Mahindra (M&M) reported solid set of numbers in Q4FY24. Revenue for the quarter is up 9% to 35,452cr, PAT up 4% to 2754cr. For full year FY24, Revenue was up 15% to 1,15,362cr and PAT was up 25% to 11,169cr on consolidated basis.
• Segment wise, Auto had another solid year with profits growing 2.5x, Auto highlights-
- Q4 volumes at 215k, up 14%; highest ever UV volumes at 126k
- Open bookings of SUVs at 220k (as on 1st May’24, includes 50k of XUV 3XO as on 15th May’24 11:00 AM)
- Q4 revenue SUV market share at 20.4%, up 80 bps and LCV < 3.5T market share at 47.5%, up 310 bps
- Consolidated Q4 Revenue Rs 20,908 cr., up 22%; FY24 Revenue Rs 76,156 cr., up 24%
- Consolidated Q4 PAT Rs 1,345 cr., up 3.0x; FY24 PAT Rs 4,714 cr., up 2.5x (excl. PY Trucks impairment).
• In Farm and farm equipment segment performance was subdued due to stress in rural areas.
- Q4 Tractor market share at 39.4%, down 130 bps
- Farm machinery Q4 revenue Rs 225 cr., up 44%; #2 in Rotavators, market share for FY24 at 20.3%
- Consolidated Q4 Revenue Rs 6,790 cr., down 22%; FY24 Revenue Rs 33,474 cr., down 2% (excl. PY SEL)
- Consolidated Q4 PAT Rs 588 cr., down 17%; FY24 PAT Rs 3,573 cr., up 2% (excl. PY SEL gain)
