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Hindustan Times
an hour ago
- Automotive
- Hindustan Times
Indian EV space seeing good progress with entry of global players, says Mahindra
Mahindra believes that the Indian electric vehicle market is seeing good progress with the entry of new international players. The homegrown auto giant that launched its renewed EV offensive in the recent past, with models such as the XEV 9e and BE 6 , also stated that its own offerings stack up quite well against the competitors who are entering the segment. Mahindra's comment comes at a time when Tesla has just launched its first showroom in India earlier this month. Also, VinFast has started accepting pre-bookings for its VF6 and VF7 electric SUVs in the country. At a post-earnings analyst meeting, Mahindra & Mahindra (M&M) Group CEO & MD Anish Shah said that the Indian EV segment now has new players in the market share from a volume standpoint. "We believe that our goals should be around the revenue market share because our products will be at much higher revenue price points. We believe that more players will come in, and that is fundamentally the right direction for the country. We are seeing very good progress with new players coming in," he said in an apparent reference to global EV giant Tesla, which entered the domestic market earlier this month, with the launch of its Model Y crossover at ₹59.89 lakh (ex-showroom). Also check these Cars Find more Cars UPCOMING Mahindra e20 NXT 15 kWh 15 kWh 140 km 140 km ₹ 6 - 8 Lakhs Alert Me When Launched UPCOMING Tesla Model 3 82 kWh 82 kWh 555 km 555 km ₹ 40 Lakhs Alert Me When Launched UPCOMING VinFast VF3 210 km 210 km ₹ 9 - 12 Lakhs Alert Me When Launched Tesla Model Y 75 kwh 75 kwh 622 km 622 km ₹ 59.89 Lakhs Compare View Offers Mahindra XEV 9e 79 kWh 79 kWh 656 km 656 km ₹ 21.90 Lakhs Compare View Offers Mahindra BE 6 79 kWh 79 kWh 682 km 682 km ₹ 18.90 Lakhs Compare View Offers Watch: Mahindra XEV 9e review: New benchmark for EVs in India? | Range and road test | First impressions Speaking about the rising rivalry in the Indian electric vehicle space, M&M Executive Director & CEO (Auto and Farm Sector) Rajesh Jejurikar said that competition has always made the company stronger. "What we've seen is that competition has always made us stronger. One difference we see this time is that usually, in the past, when competition came in, we had to improve our offerings, which we did, and we were able to combat competition well," he said, while also adding, 'We will start now seeing a rapid growth in EV penetration in the same system structure that we make, and that will be in the next few months. Overall, it depends on the markets and the process." He also said that with the electric cars in its portfolio, Mahindra products actually stack up very well against its competitors coming in. Meanwhile, Mahindra also stated that while urban sentiment in terms of demand currently is weak across the country, the fundamentals remain strong. Earlier, the company posted a 24 per cent year-on-year increase in its consolidated net profit to ₹4,083 crore for the June quarter, driven by broad-based growth across business verticals. The company reported a net profit of ₹3,283 crore for the April-June quarter of the last fiscal. Total income from operations rose to ₹45,529 crore in the June quarter against ₹37,218 crore in the year-ago period, Mahindra said in a regulatory filing. The auto company stated that auto and farm businesses continue to deliver on growth and margins, with profits up by 20 per cent. Check out Upcoming EV Cars in India. First Published Date:
Times of Oman
4 hours ago
- Automotive
- Times of Oman
Mahindra & Mahindra Q1 profit jumps 24%, revenue grows 22%
Mumbai: Mahindra and Mahindra reported strong operating performance across businesses in the first quarter of 2025-26 with consolidated profit after tax (PAT) of Rs 4,083 crore, up 24 per cent year-on-year. The Board of Directors of Mahindra and Mahindra Limited on Wednesday approved the financial results for the quarter ended June 30, 2025. The consolidated revenue from operations during the April-June quarter rose 22 per cent to Rs 45,529 crore. Auto and farm segment continued to deliver on growth and margins with profits up 20 per cent, the Group said in its earnings statement. Financial services asset under management (AUM) grew at 15 per cent. Tech Mahindra continued its journey of margin expansion with EBIT improvement of 260 basis points. Mahindra Logistics showed strong revenue momentum with 14 per cent growth and Mahindra Holidays and Resorts India Ltd (MHRIL) has expanded room inventory by 10 per cent. Anish Shah, Group CEO and Managing Director, M&M Ltd., said, "Q1 F26 has been an excellent quarter, with broad-based growth across all our businesses. The operating excellence in our Auto and Farm businesses is evident in continued market share gains and margin expansion." Amarjyoti Barua, Group Chief Financial Officer, M&M Ltd, said, "We are pleased with the performance of the group in the quarter, despite several macro challenges including geo-political disruptions. It demonstrates the resilience of the group. With our continued focus on capital discipline & operational metrics, we remain committed to shareholder value creation."
Economic Times
13 hours ago
- Automotive
- Economic Times
Mahindra & Mahindra posts 24% rise in net profit as market share expands in auto and farm segments
Mahindra & Mahindra Ltd (M&M) posted a 24% year-on-year rise in consolidated net profit to ₹4,083 crore for the quarter ended June buoyed by robust operational performance of its farm and automotive verticals. ADVERTISEMENT Consolidated revenue expanded 22% to ₹45,529 crore, reflecting broad-based growth across core and group companies. The company's auto segment continued to gain momentum, with SUV volumes rising 22% and revenue market share touching 27.3%, up 5.7 percentage points year-on-year. It also retained its leadership in the light commercial vehicle (LCV) segment under 3.5 tonnes. In the farm equipment space, M&M expanded its tractor market share to 45.2%—the highest ever for a quarter—on the back of a 10% growth in sales volume."This was a strong quarter for cash generation. Despite infusing close to Rs2,500 crores into two subsidiaries via rights issues, our cash balance grew quarter-over-quarter,' Anish Shah, group CEO and managing director said in a quarterly earnings call with Q1FY26, the standalone entity contributed 74.5% to consolidated net sales and 84.5% to consolidated net profit, up by 2.1 and 4.9 percentage points respectively, underlying a stronger relative performance by the standalone business compared to the overall group ADVERTISEMENT "Our auto and farm businesses are firing on all cylinders," said Rajesh Jejurikar, Executive Director & CEO – Auto and Farm Sector. "We've seen significant market share gains in SUVs and tractors while continuing to deliver strong growth across categories."He said that the core tractor business for both domestic and exports, excluding farm machinery and power, achieved a PBIT margin of 20%. ADVERTISEMENT Beyond its core verticals, M&M's subsidiaries also contributed meaningfully. Mahindra Finance grew its assets under management by 15%, while Tech Mahindra reported an improvement in operating performance. Mahindra Lifespaces, Club Mahindra, and Mahindra Logistics also registered healthy traction, reinforcing the company's diversified growth sustained leadership in key product segments, new launches in the pipeline, and a focus on operational discipline, M&M remains well-positioned to build on its momentum through the rest of FY26, the company said. ADVERTISEMENT "Rural sentiment is stronger, particularly in the tractor business, while urban sentiment remains weak. However, fundamentals are solid, and with anticipated rate cuts and improved liquidity, we expect urban sentiment to recover,' said Shah. Jejurikar said M&M plans new establishments in markets like Australia and South Africa and has a strong sales optimism for the festive season. "The auto launch pipeline remains strong, with new variants and models planned for FY26 and FY27,' he said. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
13 hours ago
- Automotive
- Time of India
Mahindra & Mahindra posts 24% rise in net profit as market share expands in auto and farm segments
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mahindra & Mahindra Ltd (M&M) posted a 24% year-on-year rise in consolidated net profit to ₹4,083 crore for the quarter ended June buoyed by robust operational performance of its farm and automotive revenue expanded 22% to ₹45,529 crore, reflecting broad-based growth across core and group company's auto segment continued to gain momentum, with SUV volumes rising 22% and revenue market share touching 27.3%, up 5.7 percentage points year-on-year. It also retained its leadership in the light commercial vehicle (LCV) segment under 3.5 the farm equipment space, M&M expanded its tractor market share to 45.2%—the highest ever for a quarter—on the back of a 10% growth in sales volume."This was a strong quarter for cash generation. Despite infusing close to Rs2,500 crores into two subsidiaries via rights issues, our cash balance grew quarter-over-quarter,' Anish Shah, group CEO and managing director said in a quarterly earnings call with Q1FY26, the standalone entity contributed 74.5% to consolidated net sales and 84.5% to consolidated net profit, up by 2.1 and 4.9 percentage points respectively, underlying a stronger relative performance by the standalone business compared to the overall group"Our auto and farm businesses are firing on all cylinders," said Rajesh Jejurikar, Executive Director & CEO – Auto and Farm Sector. "We've seen significant market share gains in SUVs and tractors while continuing to deliver strong growth across categories."He said that the core tractor business for both domestic and exports, excluding farm machinery and power, achieved a PBIT margin of 20%.Beyond its core verticals, M&M's subsidiaries also contributed meaningfully. Mahindra Finance grew its assets under management by 15%, while Tech Mahindra reported an improvement in operating performance. Mahindra Lifespaces, Club Mahindra, and Mahindra Logistics also registered healthy traction, reinforcing the company's diversified growth sustained leadership in key product segments, new launches in the pipeline, and a focus on operational discipline, M&M remains well-positioned to build on its momentum through the rest of FY26, the company said."Rural sentiment is stronger, particularly in the tractor business, while urban sentiment remains weak. However, fundamentals are solid, and with anticipated rate cuts and improved liquidity, we expect urban sentiment to recover,' said said M&M plans new establishments in markets like Australia and South Africa and has a strong sales optimism for the festive season. "The auto launch pipeline remains strong, with new variants and models planned for FY26 and FY27,' he said.
News18
15 hours ago
- Automotive
- News18
India seeing good progress in EV space with entry of global players, says M&M
Mumbai, Jul 30 (PTI) Mahindra & Mahindra on Wednesday said that India is seeing 'good progress" in the domestic electric vehicle space with the entry of new international players while maintaining that its offerings stack up quite well against the competitors, who are coming in. At a post-earnings analyst meeting here, the company also said that while urban sentiment in terms of demand currently is weak, the fundamentals remain strong. Earlier, the company posted a 24 per cent year-on-year increase in its consolidated net profit to Rs 4,083 crore for the June quarter, driven by broad-based growth across business verticals. The company reported a net profit of Rs 3,283 crore for the April-June quarter of the last fiscal. Total income from operations rose to Rs 45,529 crore in the June quarter against Rs 37,218 crore in the year-ago period, the Mumbai-based company said in a regulatory filing. The company stated that auto and farm businesses continue to deliver on growth and margins with profits up by 20 per cent. 'Of course, we have new players in the market share from a volume stand point. We believe that, our goals should be around the revenue market share because our products will be at much higher revenue price points … believe that more players will come in and that is fundamentally the right direction for the country. We are seeing very good progress with new players coming in," Mahindra & Mahindra (M&M) Group CEO & MD Anish Shah said in an apparent reference to global EV giant Tesla, which entered the domestic market earlier this month. Tesla made its much-awaited debut with the launch of its Model Y at a price starting at Rs 59.89 lakh while opening its first experience centre in Mumbai BKC business district. 'We will start now seeing a rapid growth in EV penetration in the same system structure that we make, and that will be in the next few months. Overall, it depends on the markets and the process," Shah said. Stating that the company has had this question of competition for a few decades now, M&M Executive Director & CEO (Auto and Farm Sector) Rajesh Jejurikar said, 'What we've seen is that competition has always made us stronger. One difference we see this time is that usually, in the past, when competition came in, we had to improve our offerings, which we did, and we were able to combat competition well." " This time, with the electric … our products actually stack up very well against our competitors coming in, so we are in a better position to start with." Reiterating that the company is comfortably covered on the rare earth magnet issue, Jejurikar said there is no disruption in production. 'We have taken a series of actions. Some of it has been around, but we are covered comfortably at least for the coming quarter and the next quarter," he said. 'Urban (sentiment) continues to be weak. There are multiple reasons for that, but fundamentals are strong. So, on balance, I do believe that even everything that we have seen with regards to greater costs, greater liquidity and the overall sentiment being weaker will likely turn around even amongst, not just for rural but for urban," Shah said. PTI IAS MR MR view comments First Published: July 30, 2025, 22:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
