Mahindra & Mahindra Ltd (M&M) reported a robust set of numbers for both October and the September quarter, with strong gains across its core automotive and farm equipment businesses.
According to a stock exchange filing on Saturday, total sales in October rose 24.8 percent year-on-year to 1.18 lakh units, compared with 93,875 units a year earlier. Total production was up 5.7 percent at 94,637 units, while exports climbed 14.1% to 4,079 units from 3,574 units last year.
For the July–September quarter (Q2 FY25), M&M’s consolidated revenue grew 21.3 percent to Rs 33,421.6 crore from Rs 27,553.3 crore, while net profit rose 18 percent to Rs 4,520.5 crore, beating analysts’ expectations of Rs 3,978.9 crore, according to Bloomberg data.
Operating income (EBITDA) grew 23 percent to Rs 4,809.2 crore, with margins improving slightly to 14.4 percent from 14.2 percent a year earlier. On a standalone basis, revenue climbed to Rs 35,079.8 crore, while EBITDA surged to Rs 6,467.4 crore.
SUV, LCV and tractor segments shine
The company’s automotive division continued to lead performance, with total quarterly volumes of 2.62 lakh units, up 13 percent year-on-year. Utility vehicle (SUV) volumes hit 1.46 lakh units, helping M&M expand its SUV revenue market share to 25.7 percent, a gain of 390 basis points.
In the light commercial vehicle (LCV) category (under 3.5 tonnes), M&M maintained leadership with a 53.2 percent share, up 100 basis points from last year.
The farm equipment business also delivered strong growth, with tractor volumes up 32 percent year-on-year to 1.23 lakh units. The company’s tractor market share rose to 43 percent, up 50 basis points, supported by healthy rural demand and improved festive-season sentiment.
M&M also strengthened its position in the electric three-wheeler segment, commanding a 42.3 percent market share, reflecting growing adoption of its Treo range.
Stake sale in RBL Bank
Separately, Mahindra & Mahindra (M&M) reportedly sold its entire 3.45 percent stake in the private sector lender RBL Bank through a block deal worth around Rs 678 crore, marking a complete exit from the bank a little over a year after its investment.
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