Mahindra and Mahindra Q4 Results Highlights: Net profit rises 32% YoY to ₹2,038 crore, dividend announced

• Revenue- ₹25,436 crore (12% YoY)
• EBITDA- ₹3,446 crore (22% YoY)
• PAT- ₹2,038 crore (32%)
• Vehicles sold: 2,15,280
• Tractors sold: 71,039

• #1 in SUV: Revenue market share at 20.4%, up 130 bps
• #1 in LCVs <3.5T$: Market share at 49.0%, up 350 bps
• #1 in Tractors: Market share at 41.6%, up 40 bps

• Re-appointment of Haigreve Khaitan as an Independent Director of the company for a second term of five consecutive years commencing from August 8, 2024 to August 7, 2029 (both days inclusive).
• Re-appointment of Shikha Sharma as an Independent Director of the company for a second term of five consecutive years commencing from August 8, 2024 to August 7, 2029 (both days inclusive).
• Re-appointment of Dr Anish Shah as Managing Director and Chief Executive Officer of the company designated as Group CEO and Managing Director with effect from April 1, 2025 to March 31, 2030.
• Re-appointment of Mr. Rajesh Jejurikar (DIN: 00046823) as Whole-time Director of the Company designated as Executive Director and CEO (Auto and Farm Sector) with effect from April 1, 2025 to June 24, 2029 (both days inclusive).

Dr Anish Shah, Managing Director and CEO, M&M Ltd. said, "It has been an excellent year with most of our businesses delivering high level of performance. Auto continued its high growth trajectory, Farm gained share in a tough market and Mahindra Finance delivered on asset quality. TechM was a weak spot, the turnaround has commenced with the new organization in place. Growth gems are performing well, with Susten and LMM leading the way. We also made significant progress on sustainability, diversity and our efforts on women empowerment".

Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), M&M Ltd. said, “We demonstrated stellar performance across Auto & Farm segments in FY24. We continue to be #1 SUV player by revenue and gained 3.5% market share in LCVs < 3.5T category. We also improved our Auto Standalone PBIT margin by 190 bps during this period. In tractors, we achieved a market share of 41.6%, a gain of 40 bps during FY24 and improved our core tractor PBIT margins by 30 bps. Our farm machinery segment continued to have robust revenue growth of 32%".

Manoj Bhat, Group Chief Financial Officer, M&M Ltd. said, “Our disciplined capital allocation and sharp focus on operating metrics helped generate record cashflows in FY24. We also repaid debt of 3.1k crore. and delivered RoE of 18.4%. Through these steps, we have built a foundation to support the next phase of our growth".

• Q4 volumes at 215k, up 14%; highest ever utility vehicle (UV) volumes at 126k
• Open bookings of SUVs at 220k (as on May1, 2024, includes 50k of XUV 3XO as on May 15, 2024 11:00 am)
• Q4 revenue SUV market share at 20.4%, up 80 bps and light commercial vehicle (LCV) < 3.5T market share at 47.5%, up 310 bps
• Standalone Q4 PBIT ₹1,751 crore, up 49% and PBIT margin 8.8%, up 170 bps
• Standalone FY24 PBIT ₹5,989 crore, up 61% and PBIT margin 8.1%, up 190 bps
• Consolidated Q4 Revenue ₹20,908 crore, up 22%; FY24 Revenue ₹76,156 crore, up 24%
• Consolidated Q4 PAT ₹1,345 crore, up 3.0x; FY24 PAT ₹4,714 crore, up 2.5x

Mahindra & Mahindra is India’s no 1 electric 3 wheeler manufacturer company with the flagship Treo. The company also sells electric XUV 400.

• Share price: ₹2,297 (-0.23%)
• Open: ₹2,319
• High: ₹2,337
• Low: ₹2,292
• Previous close: ₹2,302
• Total m-cap: ₹2,85,644 crore
• Free float m-cap: ₹2,20,070 crore

Mahindra vehicles lineup include SUVs, electric SUVs, pick-ups, electric vehicles (EVs), trucks, small commercial vehicles, and buses.

Mahindra and Mahindra has a widespread global presence in regions like APAC, South Central America and Africa & Middle East. Its footprint spans across Bangladesh, Australia, Bhutan, Nepal, Sri Lanka, Indonesia, New Zealand, UAE, Kenya, Morocco, South Africa, Mozambique, Tunisia, Guatemala, Chile and Peru.

Established in 1945 by JC and KC Mahindra and Ghulam Mohammed, Mahindra and Mohammed began as a steel trading company and later ventured into manufacturing and selling larger MUVs. It was renamed Mahindra & Mahindra in 1947. Today, Mahindra Automotive is one of India's leading manufacturers of passenger and commercial vehicles.

• Anand Mahindra- Chairman, Mahindra Group
• Dr Anish Shah- Group CEO and MD
• Rajesh Jejurikar- ED & CEO, Auto & Farm Sectors
• Vikram Singh Mehta- Lead Independent Director
• TN Manoharan- Independent Director
• Shikha Sharma- Independent Director
• Haigreve Khaitan- Independent Director
• Nisaba Godrej- Independent Director
• Muthiah Murugappan- Independent Director

Established in 1945, Mahindra and Mahindra is one of India's largest vehicle manufacturers by production. Mahindra's farm equipment division is a leading producer of tractors worldwide. Its competitors in the Indian market include Tata Motors, Hyundai, and Maruti Suzuki India.