Mahindra South Africa doubles footprint with new vehicle assembly site
Initially announced in October 2024, the plant is situated at the Dube TradePort Special Economic Zone. It will be able to assemble over 1,000 Pik-Up models per month, more than doubling its production capacity. Additionally, the plant also offers the flexibility to accommodate new upcoming car models.
The new 14,000sqm facility, located close to its previous site, is both more technically superior and larger. It features advanced quality control systems, expanded production lines, and dedicated customisation zones for customers.
Rajesh Gupta, CEO of Mahindra South Africa, stated that the company's original facility 'played a pivotal role' in establishing its local footprint.
'As demand for our locally assembled Pik Up range continued to rise, we needed a facility with the scale, flexibility, and technology to meet future growth,' he added.
Sachin Arolkar, Head of International Operations at Mahindra & Mahindra, referred to South Africa as a cornerstone market in Mahindra's international growth strategy.
'This new facility strengthens our ability to serve local customers and also enhances our regional manufacturing capabilities,' he added.
eThekwini Mayor Cyril Xaba remarked that the new plant marked a significant milestone for Durban and KwaZulu-Natal. He also appreciated Mahindra's investment decision as it would boost local job creation.
"Mahindra South Africa doubles footprint with new vehicle assembly site" was originally created and published by Investment Monitor, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
18 minutes ago
- Business Upturn
S&P Global says US tariffs will not derail India's long-term growth prospects
By Aditya Bhagchandani Published on August 14, 2025, 14:51 IST S&P Global Ratings has stated that even if the United States imposes a 50% tariff on Indian imports, the impact on the country's long-term growth prospects will be minimal. The agency noted that while the US remains India's largest trading partner, the scale of exposure is relatively small in GDP terms. According to S&P, India's exports to the US account for around 2% of GDP. Once sectoral exemptions—particularly for pharmaceuticals and consumer electronics—are factored in, the share of exports that could be subjected to tariffs drops to 1.2% of GDP. This, the agency said, could lead to a short-term hit to growth but would not have a lasting effect on the country's economic trajectory. S&P further highlighted that despite potential revenue losses and slower gains from trade, India is on track to meet its FY26 fiscal deficit target. The government's commitment to fiscal consolidation, coupled with robust domestic demand and infrastructure spending, is expected to help offset any external shocks. The agency maintained its view that India's economic fundamentals—driven by strong investment momentum, policy stability, and resilient domestic consumption—remain intact, ensuring that the country's growth outlook stays positive in the medium to long term. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
2 hours ago
- Business Upturn
Ashok Leyland Q1 Results: Shares jump over 2% as Q1 earnings meets street estimates; posts record Q1 volumes and revenue
Shares of Ashok Leyland climbed 2.36% to ₹122.55 on the NSE by 12:55 PM on Wednesday, following the release of its Q1 FY26 results that closely aligned with market expectations. The company reported a net profit of ₹594 crore, marginally higher than the estimate of ₹593 crore, and up from ₹526 crore in the same quarter last year. Revenue came in at ₹8,725 crore, compared to the expected ₹8,822 crore and ₹8,599 crore in Q1 FY25. EBITDA stood at ₹970 crore versus the estimated ₹974 crore, while margins were steady at 11%, matching Street projections. Analysts had anticipated a 13% YoY rise in standalone profit, aided by improved volumes and realisations. The topline growth of 1.5% YoY, although slightly below estimates, was supported by steady demand in the commercial vehicle segment. At 12:55 PM, Ashok Leyland's market capitalisation stood at ₹35,636 crore. The stock traded between ₹119.29 and ₹121.73 during the day, with a year's range of ₹95.93 to ₹132.32. The scrip's P/E ratio is 22.97, with a dividend yield of 2.58%. The Indian flagship of the Hinduja Group reported its highest-ever quarterly performance in Q1 FY26, with commercial vehicle (CV) volumes hitting 44,238 units and revenue reaching Rs 8,725 crore. The company also posted record EBITDA and PAT of Rs 970 crore (up from Rs 911 crore YoY) and Rs 594 crore (up from Rs 526 crore YoY) respectively. Domestic medium and heavy commercial vehicle (MHCV) truck volumes, excluding defence, rose 2% YoY, lifting market share from 28.9% to 30.7%. MHCV bus TIV (excluding EVs) grew 5%, reinforcing the company's leadership in the segment. Light commercial vehicle (LCV) sales also reached an all-time high for Q1 at 15,566 units, while exports surged 29% YoY to 3,011 units. Strong performances in Power Solutions, Aftermarket, and Defence divisions further boosted results. EBITDA margin improved to 11.1% from 10.6% YoY. The company ended the quarter with Rs 821 crore in cash and remains cash positive. Chairman Dheeraj Hinduja credited the strong showing to efficient market execution and cost management, noting that electric mobility arm Switch Mobility has maintained positive EBITDA and continues to gain traction. Managing Director & CEO Shenu Agarwal highlighted sustained market share gains and profitability, with the company aiming for mid-teen EBITDA margins in the medium term. Ahmedabad Plane Crash
Business Upturn
2 hours ago
- Business Upturn
Ventive Hospitality Begins FY26 with Strong Q1 Results
Ventive Hospitality Ltd (BSE: 544321, NSE: VENTIVE) announced its consolidated financial results for Q1 FY 2026, ending June 30, 2025. Business Wire India Hospitality Revenue Growth of 23%; EBITDA Growth of 35%. Hospitality EBITDA Margin at 29%, up 3% points year on year. Ventive Hospitality Ltd (BSE: 544321, NSE: VENTIVE) announced its consolidated financial results for Q1 FY 2026, ending June 30, 2025. In Q1 FY 26, the company reported consolidated revenue of Rs. 520 crore, a growth of 18%1 year on year (yoy). Consolidated EBITDA2 was at Rs. 220 crore, a growth of 13% yoy. Consolidated EBITDA margin was at 42%. Profit after tax was Rs. 38 crore. Ventive's hospitality business generated revenue of Rs. 387 crore, a growth of 23% yoy. The hospitality business' EBITDA was at Rs. 111 crore, up 35% yoy. The hospitality business' EBITDA margin was 29%, an expansion of 3 percentage points yoy. Revenue from the company's India hospitality business grew 13%, while its EBITDA grew 28% yoy. Ventive's International hospitality business clocked revenue growth of 33% and EBITDA growth of 47%. Ventive's annuity business, consisting of prime commercial real estate and retail properties in Pune generated a steady revenue of Rs. 124 crore and EBITDA of Rs. 111 crore. Q1 Operational Performance The company's active asset management strategies helped increase the Average Daily Rate (ADR) by 10% yoy in its India business. Travel disruptions caused by geo-political tensions in May led to some occupancy slippage in the India Hospitality business, resulting in RevPAR growth of 7% yoy. Ventive's award-winning restaurants attracted significant external footfall, helping drive growth in F&B and other service revenues by 20% in the India hospitality business. Consequently, the company's Total Revenue per available Room (TRevPAR), which also includes F&B and other revenues, stood at Rs. 20,864 in Q1, a growth of 13% yoy. Its Indian hospitality business reported a TRevPAR of Rs. 12,946, up 13% yoy, while its Maldives resorts reported a TRevPAR of Rs. 54,354 (ex-Raaya) which is 11% higher compared to the prior year. Ranjit Batra, Chief Executive Officer, said: "We are starting off the year on a solid note, with our hospitality business clocking strong revenue growth and even stronger EBITDA growth. Our Indian business delivered double-digit revenue growth in Q1 despite global travel advisories and domestic airport closures in May, demonstrating the resilience of our luxury-focused portfolio. Amidst continuing global macroeconomic uncertainties, we see demand momentum sustained for the high-end, differentiated guest experiences that our hotels offer, positioning us well as we approach the seasonally strong second half of the year. In addition to pursuing robust growth on a same-store basis, we have moved forward on our longer-term vision to double our key count over the next five years by signing management contracts with Marriott International for seven new hotels. These will add 1,548 keys over five years, broaden our geographic footprint and help us address newer market segments to power the next leg of growth. ' Forward-Looking Statements Certain statements in this press release concerning our future prospects are forward-looking statements. Forward-looking statements by their nature involve a number of risks and uncertainties that could cause actual results to differ materially from market expectations. These risks and uncertainties include, but are not limited to macroeconomic factors, geopolitical events affecting tourism, regulatory environment, our ability to manage growth, competition within the industry, various factors which may affect our profitability, such as, our ability to attract and retain highly skilled professionals, reduced demand for office space, our ability to successfully complete and integrate potential acquisitions, political instability, legal restrictions on raising capital, cyclicality and operating risks associated with the hospitality sector. VHL may, from time to time, make additional written and oral forward-looking statements, including our reports to shareholders. These forward-looking statements represent only the Company's current intentions, beliefs or expectations, and any forward-looking statement speaks only as of the date on which it was made. The Company assumes no obligation to revise or update any forward-looking statements. 1All subsidiaries were acquired in August 2024. To enable comparisons with prior periods and measure growth, proforma financials have been prepared for FY 2024 and H1 FY 2025 using internal MIS data, including the revenues and costs of these entities, as if those acquisitions were effected on April 1, 2023. Growth percentages are based on these proforma financials. 2Earnings Before Interest, Tax, Depreciation and Amortization. Disclaimer: The above press release comes to you under an arrangement with Business Wire India. Business Upturn take no editorial responsibility for the same. Ahmedabad Plane Crash
