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Raw material price shadow on M&M’s Q4; outlook positive

M&M is looking to launch an EV model of XUV 300 in Q3/Q4 of FY23

May 31, 2022 / 10:26 AM IST
Raw material price shadow on M&M’s Q4; outlook positive

The next-gen Mahindra Scorpio has been in development for a long, long time now and the company has fnally taken the wraps off the SUV, but only for the exteriors. Fortunately, Mahindra has also told us when the Scorpio is set to be commercially launched, so we have something to finally look forward to. Initially codenamed Z101, Mahindra has now christened the new SUV the Scorpio-N. Mahindra has also announced that the Scorpio will go on sale alongside the current-gen Scorpio which will then be called Scorpio Classic. This would essentially position the Scorpio-N just above the Scorpio Classic and below the XUV700 which means lower trim levels could overlap with the higher trim levels current-gen Scorpio while higher trim levels could be in line with the lower trim levels of the XUV700. (Image: auto.mahindra.com)

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Commodity-linked inflation pressure and the shortage of semiconductor chips have impacted the financial performance of Mahindra & Mahindra (M&M) (CMP: Rs 1,000; M cap: Rs 1.20 lakh crore) in Q4FY22. However, what has come to its rescue is the strong performance by the automobile segment, driven by product launches in the fiscal gone by. Order booking and demand continue to be buoyant from the medium- to long-term perspective. This, coupled with the company’s strong leadership in farm equipment, positive rural sentiment,...

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