Latest news with #HemantSikka
Time of India
01-05-2025
- Business
- Time of India
Mahindra Farm Equipment posts 8% rise in April tractor sales
Mahindra & Mahindra Ltd. 's Farm Equipment Sector (FES) reported a 8 per cent increase in domestic tractor sales for April 2025, with 38,516 units sold during the period compared to 35,805 units in April 2024. Its total sales, including domestic and exports numbers, rose to 40,054 units in April 2025, from 37,039 units in the same period last year, driven by strong retail momentum and positive economic factors, according to the company's announcement on Thursday. The company attributes the strong performance to several factors, including the ongoing harvest season, the Chaitra Navratri festival, good crop prices, and high procurement at Mandis. Hemant Sikka , President – Farm Equipment Sector, Mahindra & Mahindra Ltd., said 'We have sold 38,516 tractors in the domestic market during April 2025, a growth of 8 per cent over last year. The harvest season is progressing very well and is expected to conclude shortly. Bolstered by the Chaitra Navratri festival in the first week of April, retail momentum is very strong. This is well supported by good crop prices and high procurement at Mandis, leading to good cash flows with farmers. IMD's prediction of above normal southwest monsoon is hugely positive for the overall Agri economy and tractor industry. Financing continues to remain strong. In the exports market we have sold 1538 tractors, a growth of 25 per cent over last year.'
Time of India
01-05-2025
- Automotive
- Time of India
M&M auto sales rise 19 pc to 84,170 units in Apr
Mahindra & Mahindra Ltd on Thursday reported a 19 per cent year-on-year increase in overall auto sales to 84,170 units in April 2025. In the passenger vehicles segment, the company said its utility vehicles sales surged 28 per cent to 52,330 units in the domestic market last month against 41,008 units in the year-ago period, up 28 per cent. #Pahalgam Terrorist Attack Nuclear Power! How India and Pakistan's arsenals stack up Does America have a plan to capture Pakistan's nuclear weapons? Airspace blockade: India plots a flight path to skip Pakistan Domestic sales for commercial vehicles stood at 22,989 units, M&M said in a regulatory filing. "Building on the strong momentum of last year's performance, we began the year on a strong note in April by achieving SUV sales of 52,330 units, a growth of 28 per cent and total vehicle sales of 84,170 units, a 19 per cent growth over the same month last year. These numbers indicate the strength of our portfolio and customer offerings," M&M Ltd President, Automotive Division, Veejay Nakra said. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. In the farm equipment sector (FES), the company said its total tractor sales (domestic and exports) during April 2025 rose 8 per cent to 40,054 units against 37,039 units in the year-ago month. In the domestic market, tractor sales grew 8 per cent to 38,516 units last month compared to 35,805 units in April 2024. Live Events Exports rose 25 per cent to 1,538 units from 1,234 units in April 2024. "The harvest season is progressing very well and is expected to conclude shortly. Bolstered by the Chaitra Navratri festival in the first week of April, retail momentum is very strong. This is well supported by good crop prices and high procurement at Mandis, leading to good cash flows with farmers," M&M President Farm Equipment Sector Hemant Sikka said. On the outlook, he said, "IMD's prediction of above normal southwest monsoon is hugely positive for the overall agri economy and tractor industry. Financing continues to remain strong".
Business Upturn
01-05-2025
- Business
- Business Upturn
Mahindra & Mahindra's Farm Equipment Sector reports 8% YoY growth in Tractor sales in April 2025
By Aman Shukla Published on May 1, 2025, 15:31 IST Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES), a part of the Mahindra Group, reported an 8% year-on-year growth in tractor sales for April 2025. The company sold 38,516 tractors in the domestic market, up from 35,805 units recorded in April 2024. Total tractor sales, which include both domestic and export markets, reached 40,054 units in April 2025. This marks an increase from 37,039 units sold in the same month last year. Export sales rose to 1,538 units, reflecting a 25% growth over the 1,234 units exported in April 2024. Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. commented, 'We have sold 38516 tractors in the domestic market during April 2025, a growth of 8% over last year. The harvest season is progressing very well and is expected to conclude shortly. Bolstered by the Chaitra Navratri festival in the first week of April, retail momentum is very strong. This is well supported by good crop prices and high procurement at Mandis, leading to good cash flows with farmers. IMD's prediction of above normal southwest monsoon is hugely positive for the overall Agri economy and tractor industry. Financing continues to remain strong. In the exports market we have sold 1538 tractors, a growth of 25% over last year.' The data reflects continued demand in the domestic market, coupled with a notable rise in international shipments. These figures represent cumulative sales for April and indicate a steady start to the fiscal year 2025–26. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Business Standard
22-04-2025
- Business
- Business Standard
Mahindra Logistics climbs as Q4 net loss narrows to Rs 7 cr
Mahindra Logistics jumped 3.45% to Rs 318.25 after the company's consolidated net loss narrowed to Rs 6.75 crore in Q4 FY25 as compared with net loss of Rs 12.85 crore in Q4 FY24. Revenue from operations jumped 8.19% YoY to Rs 1,569.51 crore in Q4 FY25. The firm reported pre-tax profit of Rs 0.95 crore in Q4 FY25 as against pre-tax loss of Rs 9.22 crore posted in corresponding quarter last year. EBITDA stood at Rs 78 crore in Q4 FY25, registering the growth of 36.84% as compared with Rs 57 crore posted in Q4 FY24. Total expenses increased 7.38% to Rs 1,570.75 crore in Q4 FY25 as compared with Rs 1,462.86 crore in Q4 FY24. Operating expenses was at Rs 1,358.76 crore (up 9.62% YoY), employee benefit expenses stood at Rs 95.63 crore (up 1.97% YoY) and finance cost was at Rs 20.55 crore (up 17.9% YoY) during the period under review. On financial year basis, the company reported consolidated net loss of Rs 35.85 crore in FY25 as compared with net loss of Rs 54.74 crore in FY24. Revenue from operations jumped 10.88% YoY to Rs 6,104.83 crore in FY25, driven by strong performance in 3PL, Last Mile Delivery (LMD), and Cross Border services. Rampraveen Swaminathan, managing director and CEO of Mahindra Logistics, said, During the quarter, we saw positive trend of revenue growth, with YoY growth of 8% driven by growth in 3PL contract logistics and Express. For the full year, revenue grew by 11% driven by account additions, new offerings and new launches. The B2B express business demonstrated volume recovery in the quarter, combined with cost management. Cross-border continues to see volatility in pricing. We are on track with new warehousing additions in Maharashtra, West Bengal, Guwahati & Tripura. We remain focused on expanding margins through share of solutions, cost management, and turnaround of the express business. Meanwhile, the companys managing director (MD) and chief executive officer (CEO), Rampraveen Swaminathan has resigned with effect from 4 May 2025 and he has decided to move on to pursue other professional interests and his last day of employment at the company would be 20 July 2025. Further, the companys board approved the appointment of Hemant Sikka as managing director (MD) and chief executive officer (CEO) for a period of five years with effect from 5 May 2025 to 4 May 2030 (both days exclusive), subject to approval of the shareholders of the Company at the ensuing 18th AGM of the company. Furthermore, the companys board has recommended a final dividend of Rs 2.50 per equity share for FY25, subject to the members approval at the ensuing 18th Annual General Meeting (AGM) of the company. If approved and declared at the ensuing AGM, will be paid/dispatched by the company in permitted modes after Tuesday, 22 July 2025. The company has fixed record date as Friday, 11 July 2025. Mahindra Logistics (MLL) is an integrated third-party logistics (3PL) service provider, specializing in supply chain management and enterprise mobility.
Time of India
22-04-2025
- Business
- Time of India
Stocks in news: HCL Tech, Waaree Energies, HUL, Tata Power, Mahindra Logistics
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The market kicked off the week on a strong note, extending last week's momentum with gains of over one percent. In today's trade, shares of HCL Tech Waaree Energies , HUL, Tata Power Mahindra Logistics among others will be in focus due to various news developments and fourth quarter of HCL Tech, Waaree Energies and Tata Communications will be in focus as the companies will announce their quarterly results on company Hindustan Unilever (HUL) completed the acquisition of 90.5% stake in uprising science for Rs 2,706 Enterprises signed a joint development agreement (JDA) development project in Malur, East Bengaluru spanning approximately 20 acres. Gross development value of the project is around Rs 175 Power arm 'Tata Power Renewable Energy' signed a power purchase agreement (PPA) with Tata Motors to set up a 131 MW wind-solar hybrid Group announced senior leadership appointments across businesses Hemant Sikka, President of Farm Equipment Biz, is appointed Mahindra Logistics India signed an MoU with Damodar Valley Corporation to set up 2x800 MW Ultra Supercritical Power Plants in arm 'Paytm Money' reduced interest rates and revised brokerage for pay later (MTF) to drive affordability and accessibility for received Punjab Government's formal approval for setting up a new manufacturing facility in Sundra, Punjab. This unit will focus on the manufacturing of health and wellness equipment.
