M&M’s Q1FY25 Financial Results

365Telugu.com online news,Mumbai, August 1st, 2024: The Board of Directors of Mahindra & Mahindra Limited today approved the financial results for the quarter ended 30^th June 2024.

Key financials: 

     Rs cr.

PAT is PAT after Non-Controlling Interest. For summary of standalone financials, refer Annexure 1

Mahindra & Mahindra reported strong operating performance across businesses in the first quarter of F25. Market share gains and continued margin expansion for Auto and Farm, profits up 18%^~. Financial services assets quality improvements yielding results, profits up 37%. TechM turnaround commenced, operating performance improving. Growth gems on track to 5x challenge.

Auto

.Highest ever Q1 volumes at 212k, up 14%; highest ever Q1 UV volumes at 124k

.SUV capacity increase from 49k pm (exit F24) to 64k pm (exit F25) on track

.Standalone PBIT Rs 1,798 cr., up 39% and PBIT margin 9.5%, up 180 bps

.Consolidated Revenue Rs 19,776 cr., up 16%

.Consolidated PAT Rs 1,330 cr., up 35% (excl. PY gains on KG Mobility)

Farm

.Highest ever quarterly volumes at 120k, up 5%

.Farm machinery Q1 revenue Rs 265 cr., up 34%

.Standalone PBIT Rs 1,506 cr., up 16% and PBIT margin 18.5%, up 100 bps

.Consolidated Revenue Rs 9,711 cr., flat  

.Consolidated PAT Rs 1,238 cr., up 4% (excl. PY gains on KG Mobility)

Services

.MMFSL AUM up 23%, GS3 at 3.6% improved by 80 bps, consolidated PAT up 37%

.Tech Mahindra EBIT margin improved by 170 bps, PAT up 23%

.Mahindra Lifespaces residential pre-sales of Rs 1,019 cr., up 3x

.Club Mahindra total income Rs 384 cr., up 8%; crossed cumulative member base of 3 lakh

.Mahindra Logistics revenue Rs 1,420 cr., up 10%

.Consolidated Revenue Rs 8,736 cr., up 9%

.Consolidated PAT Rs 715 cr., up 26% (excl. PY gains on KG mobility and MCIE sale)

Commenting on Q1 FY25 performance

Dr. Anish Shah, Managing Director & CEO, M&M Ltd. said, “We have started the F25 fiscal year with strong operating performance across all our businesses. Capitalising on leadership positions, Auto and Farm continued to expand market share and profit margins.

Transformation at MMFSL is yielding results as asset quality improves and transformation at TechM has commenced with margins as a key focus. With this momentum and relentless drive towards execution, we will continue to ‘deliver scale’ in F25.”

Mr. Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), M&M Ltd. said, “In Q1 F25, we gained market share in both Auto & Farm businesses. We achieved highest ever quarterly tractor volumes and also improved our Core Tractors PBIT margin by 110 bps YoY.

We retained market leadership in SUVs with 21.6% revenue market share and in LCVs < 3.5T, we crossed 50.9% volume market share. Auto Standalone PBIT grew by 39% with margin improvement of 180 bps YoY.”

Mr. Amarjyoti Barua, Group Chief Financial Officer, M&M Ltd. said, “We delivered robust margin expansion across our businesses through focussed execution. We continue to meet our external commitments. We have also commenced on our capital investment plans in line with what we communicated in May’24.”

Annexure 1

Summary of standalone financials:

                                                                                                                                                                                                       Rs cr.

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