Conference Call with Mahindra & Mahindra Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript.
Cars & utilities vehicle firm Mahindra & Mahindra announced Q3FY23 results: Q3FY23: Consolidated revenues at Rs 30,620 crore, up 30% Standalone revenue at Rs 21,654 crore, up 41% Auto and Farm achieve highest ever Q3 volumes M&M; continues to remain No.1 in SUV revenue market share (20.6%) in Q3FY23. Open bookings of SUV at 266k+ (as on February 1, 2023), reflecting continued strong automotive demand Farm: Q3F23 market share at 41.0% (gain of 160 bps vs PY) Successful launch of XUV 400 on Jan 26: Becomes the fastest booked eectric SUV in India with 15k+ bookings within 13 days Dr. Anish Shah, Managing Director & CEO, M&M; Ltd, said, “We have had another robust quarter led by the robust performance of our auto division. Our farm division also reported healthy growth with increased market share. Our capital allocation actions are continuing to show results and we remain committed to our journey of growth and returns.” Rajesh Jejurikar, Executive Director, M&M; Ltd, said, “Our efforts towards creating segment-leading products and improving operational efficiencies have led to the achievement of highest ever quarterly revenue and PBIT in Q3F23 for Auto and Farm sectors. In SUVs, we continue to be leaders in revenue market share for the 4th consecutive quarter and have celebrated another successful launch of the XUV4OO. In the tractor business, we have achieved 41% market share, the highest Q3 market share in the last 5 years." Manoj Bhat, Group Chief Financial Officer, M&M; Ltd, said, “Our operating margins improved by 130 basis points YoY, led by operating efficiencies and our focus on fiscal discipline. We recorded our highest ever quarterly group revenue reflecting strong growth across businesses.” Result PDF