Conference Call with Mahindra & Mahindra Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.
Cars & utility vehicles company Mahindra & Mahindra announced Q1FY24 results: Revenue of Rs 33,892 crore in Q1FY24 compared to Rs 28,414 crore in Q1FY23, up 19% YoY PAT of Rs 3,508 crore in Q1FY24 compared to Rs 2,195 crore in Q1FY23, up 60% YoY No. 1 in SUV revenue market share for 6 consecutive quarters with Q1 share at 20.2%, up 310 bps No. 1 in in LCVs <3.5T: market share at 49.1%, up 480 bps; highest in last 5 years No. 1 in Farm Equipment: market share at 42.9%, up 20 bps No. 1 in electric 3 wheelers: market share at 65.5% RoE at 24.2%, higher than the committed level of 18% Anish Shah, Managing Director & CEO, M&M; said, “During Q1, our businesses across Auto, Farm and Services delivered a strong performance. Auto led the way by strengthening its market leadership position and doubling its operating profit. Farm continues to increase market share quarter on quarter and deliver double-digit profit improvements. In Services, MMFSL is on track to realise its full potential and transformation is underway at TechM. With this momentum, we are well on our way to Deliver Scale by transforming our core businesses and a 5x challenge for growth gems.” Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), M&M; said, “Our endeavour to deliver innovative product offerings with strong execution has enabled a strong overall performance. In SUVs, we continue to be leaders in revenue market share for the 6th consecutive quarter with SUV Volume crossing the 1L milestone. In the tractor business, we have achieved 42.9% market share, the highest since Q2FY20. Our E-3W business continued market leadership with 65.5% market share.” Result PDF