"M&M Q4 Result Revealed: Rs 2,038 Crore Net Profit!"

Mahindra & Mahindra Ltd (M&M) Financial Performance Summary

In the fourth quarter of FY24, Mahindra & Mahindra Ltd (M&M) posted a net profit of Rs 2,038.21 crore, marking a 31.6 percent increase from Rs 1,548.97 crore in the same period last year.

During Q4FY24, the company's revenue from operations rose by 11.24 percent to Rs 25,108.97 crore from Rs 22,571.37 crore YoY.

EBITDA for the March quarter increased by 12 percent YoY to Rs 3,119 crore from Rs 2,789 crore, with the EBITDA margin remaining steady at 12.4 percent.

Anish Shah, Managing Director & CEO of M&M Ltd, commented, "The automotive sector continued its strong growth, while the agricultural segment gained market share despite challenging conditions. Additionally, Mahindra Finance maintained its asset quality."

In Q1FY24, M&M's automobile segment sold 215,280 units, a 14 percent increase YoY. However, tractor sales in the farm equipment segment declined by 20 percent YoY to 71,039 units.

Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector) of M&M Ltd, stated, "We retained our position as the top SUV player by revenue and expanded our market share in the LCVs < 3.5T category by 3.5 percent. Furthermore, we enhanced our Auto Standalone PBIT margin by 190 basis points. In the tractor segment, we achieved a market share of 41.6 percent, up by 40 basis points in FY24, and improved our core tractor PBIT margins by 30 basis points. Our farm machinery segment also experienced robust revenue growth of 32 percent."

M&M Dividend Declaration

The board of directors proposed a dividend of Rs 21.10 per equity share, amounting to 422 percent of the face value of Rs 5 each. The record date for the dividend is July 5, 2024, with the dividend scheduled for payment after July 31, 2024.