M&M Q2 PAT up 46% at Rs2,090 crore Q2 Consolidated PAT at Rs2,773 crore up 44%

MUMBAI, 11 November 2022: The Board of Directors of Mahindra & Mahindra Limited today approved the financial results of the company and the consolidated Mahindra Group for the quarter and half year ended 30 September 2022.

Financial highlights include:

• Record Quarterly Earnings and PAT for M&M Standalone
• M&M’s operating margin is 12.0%
• Exports of both passenger cars and tractors remain strong

Automobile

• M&M Remains Market Leader in SUVs for Third Consecutive Quarter (Revenue Market Share)
• LCV 2-3.5T: Achieved 60% market share in Q2 F23 (+10.8% YoY)
• E-3Ws: Achieved record quarterly sales of 10,625 units

farm equipment

• 41.5% market share in the first half: +0.5% year-on-year
• Second highest Q2 domestic sales (~88,000 tractors)
• Highest second quarter exports (4.6k tractors)

Commenting on the second quarter 2023 results, Dr. Anish Shah, Managing Director and CEO of M&M Ltd said: The automotive segment has been the growth driver, but the performance of the group companies as a whole is solid. Our journey of creating value and providing growth capital continued through the Susten-OTPP deal and his BII deal. “

Rajesh Jejurikar, Executive Director of M&M Ltd said: Highest quarterly earnings in automotive and farm segments. In SUVs, it continues to be the revenue market share leader. This year’s festive sales were strong across the automotive and agricultural sectors. With the launch of XUV4OO and Born Electric Vision, we are entering the electric SUV segment and aim to establish a leadership position in the future. “

Manoj Bhat, Group Chief Financial Officer of M&M Ltd, said:

sauce: Mahindra