No price hike on the cards: M&M

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No price hike on the cards: M&M

M&M September total sales stand at 15,976 units, excluding tractors. Gautam Nagwekar, Executive VP at M&M says that for September, they have got a total growth of 37% and for the first half their cumulative growth is 29%, both domestic and exports put together.

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Excerpts from Midcap Radar on CNBC-TV18 Watch the full show » RELATED NEWS Bullish on Mahindra and Mahindra: Edelweiss Buy Mahindra and Mahindra: P-sec M&M showcases its new range at Paris Motor Show ALSO READ See latest News about Mah and Mah See previous management interviews See what other Experts & Brokerages are saying about Mah and Mah Mah and Mah BSE | NSE 25/05/12 Are Mutual Funds betting on Mah and Mah?

Mahindra & Mahindra September total sales stand at 15,976 units, excluding tractors.

Gautam Nagwekar, Executive VP at M&M says that for September, they have got a total growth of 37% and for the first half their cumulative growth is 29%, both domestic and exports put together.

He adds that they expect October and November to be good months as this is the onset of the festive season. He also mentions that right now there is no price increase that they have on the cards and so their margins are stable as per planned. 

Excerpts from CNBC-TV18's exclusive interview with Gautam Nagwekar:

Q: Give us a perspective on how you expect the sales to pan out in this festive season and percentage wise, what is the run-rate that you expect in sales?

A: Percentage wise, I may not be able to really give you a low down, but as one has seen in September, we have got a total growth of 37% and for the first half our cumulative growth is 29%, both domestic and exports put together.

This is the onset of the festive season so we expect at least October and November to be good months. I will not be able to put a number to it, but clearly going forward, the mood is upbeat.

Q: Can you give us an idea on margins and how you expect those to pan out? Would you be offering some sops in the festive season or do you think that you will be able to spike prices as well, given the uptake you are currently seeing in sales?

A: Right now there is no price increase that we have on the cards, so our margins are stable as per planned. For the festive season, we don't have any massive programme that we have outlined, but market-specific initiatives are being taken by local teams, which are typically at the state level. Therefore, I don't see any concern going forward.

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