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Time of India
05-05-2025
- Automotive
- Time of India
Mahindra & Mahindra Q4 results: Profit rises 13.34 per cent to Rs 3,542 crore on auto, farm sector strength
NEW DELHI: Mahindra & Mahindra Ltd reported a 13.34 per cent year-on-year increase in consolidated net profit to Rs 3,541.85 crore for the fourth quarter ending March 31, 2025, up from Rs 3,124.94 crore in the same period last fiscal. The performance was driven by robust growth in its automotive and farm equipment segments. Consolidated revenue from operations for the quarter rose to Rs 42,585.67 crore, marking a strong 20.4 per cent increase from Rs 35,373.34 crore in the corresponding quarter last year. Total expenses also climbed to Rs 39,113.61 crore, up from Rs 32,172.17 crore. For the full fiscal year FY25, Mahindra & Mahindra posted a consolidated profit after tax of Rs 14,073.17 crore, a 14.7 per cent rise over Rs 12,269.82 crore in FY24. Consolidated revenue surged to Rs 1,58,749.75 crore from Rs 1,38,279.30 crore. The company's auto segment continued its growth trajectory with Q4 sales volume rising 18 per cent to 2.53-lakh units, including 1.49-lakh SUVs. Tractor sales also recorded a robust 23 per cent jump to 87,138 units, contributing to a Q4 market share high of 41.2 per cent in the segment. Electric vehicle traction also gained momentum, with over 6,300 units of its new EVs – the EV 9e and BE 6 – delivered within just over a month. While urban demand showed signs of pressure, rural markets remained a key growth driver. Looking ahead, Mahindra is targeting a ramp-up in monthly vehicle output from 61,500 to 85,000 units by the end of FY26, pushing its annual installed capacity beyond one million units. It also aims to increase production capacity for its XUV3X0 and Thar ROXX models by 3,000 units this fiscal, while Chakan, Pune, will see an additional 1.2-lakh unit platform capacity. A new passenger vehicle manufacturing plant is planned to be operational by March 31, 2028. While the location is yet to be finalised, financial provisions have been made as part of the company's capital expenditure. The plant will focus primarily on passenger vehicles, though it may support other segments depending on future strategy and state-level incentives. A new vehicle platform will be unveiled on August 15, 2025. By 2030, the company aims to have a diversified portfolio that includes ICE SUVs, five battery electric vehicles (BEVs), and five light commercial vehicles (LCVs). The board has recommended a final dividend of Rs 25.30 per share, reflecting the company's strong cash generation of nearly Rs 10,000 crore in FY25, as highlighted by Group CFO Amarjyoti Barua. Group CEO & Managing Director Anish Shah attributed the strong results to excellent execution and continued gains in market share and profitability across the automotive and farm equipment sectors. "We have delivered strong growth on the back of stellar execution in F25. Auto and Farm continue to gain market share and expand profitability. TechM is making commendable progress towards its dual objectives of strengthening client positioning and margin expansion," he said. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Reuters
05-05-2025
- Automotive
- Reuters
India's Mahindra & Mahindra posts quarterly profit miss on one-time charge
May 5 (Reuters) - Indian automaker Mahindra & Mahindra ( opens new tab reported a smaller-than-expected fourth-quarter profit on Monday, weighed down by a one-time charge and higher production costs for rolling out its new range of electric vehicles. The 'Scorpio' SUV manufacturer's profit rose 22% to 24.37 billion rupees ($290 million) in the January-March quarter but fell short of analysts' expectation of 25.23 billion rupees, per data compiled by LSEG. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. Mahindra is India's top SUV maker by revenue and leads sales of tractors in the country. During the quarter, SUV sales were up 18%, while those of tractors increased 23%. While higher farm incomes have boosted tractor sales in recent months, a large order book for Mahindra's newer SUVs, the 'XUV 3X0', and the five-door version of its popular 'Thar' has helped the company clock industry-leading growth. During the quarter, Mahindra recorded a one-time charge of 6.45 billion rupees related to the international operations of its tractor business. The company did not share any further details. Revenue from Mahindra's automotive business – its biggest segment that accounts for nearly three-fourths of overall revenue – rose 25% to 24.98 billion rupees. The business includes the sale of SUVs as well as small and large trucks and buses. The smaller, but more profitable farm business, which includes tractors that are cheaper to manufacture, clocked revenue growth of 23% and pre-tax profit growth of 51%. Overall revenue rose 25% to 313.53 billion rupees, topping analysts' expectations of 301.38 billion rupees. ($1 = 84.1570 Indian rupees)
News18
03-05-2025
- Automotive
- News18
Weak April Sales Hit Most Top Indian Carmakers As Demand Cools, Check Details
Last Updated: Maruti has held up better due to SUV demand and fleet sales, while Hyundai and Tata have struggled amid fewer new launches as they derive two-thirds of their sales from SUVs. News18 Three of India's top four carmakers reported weak sales to dealers in April, company data showed on Thursday, as buyers delayed purchases amid concerns about slowing economic growth. Market leader Maruti Suzuki posted a marginal 0.6% year-on-year rise, while Hyundai Motor India and Tata Motors clocked declines of 11.6% and 5.1%, respectively. Mahindra & Mahindra, in contrast, reported a near 28% jump in monthly sales, aided by strong demand for its 'XUV 3X0' and five-door 'Thar' SUVs. That helped the 'Scorpio' maker overtake Hyundai and Tata Motors to the no. 2 spot in India's car market for the second time this year. The four automakers together account for 80% of a market that saw record sales of 4.3 million units last year. Their combined sales were up about 1.4% in April, led largely by Mahindra. WHY IT MATTERS India's auto sector makes up 7% of GDP and is a major employer. The country's economic growth is seen slowing down, with the central bank projecting full-year GDP growth of 6.5% for fiscal 2025, lower than the 9.2% recorded the year before. KEY CONTEXT Car sales are cooling as the post-pandemic pent-up demand, which propelled sales to record highs in past years, has faded. Growth slowed to 2% in financial year 2025, from 8% the previous year and 27% in fiscal 2023, with industry experts attributing the moderation to a broader economic slowdown. Manufacturers expect car sales to grow 1%-2% this year, although some analysts expect growth to pick up by June or September on lower interest rates and a cut in personal income tax. Phillip Capital said that buyers were postponing purchases, with the trend likely to continue for up to four months. Maruti has held up better due to SUV demand and fleet sales, while Hyundai and Tata have struggled amid fewer new launches as they derive two-thirds of their sales from SUVs. First Published:
Mint
02-05-2025
- Automotive
- Mint
April auto sales: SUVs race ahead while small cars lose momentum
April auto sales: Three out of India's four leading passenger vehicle makers reported weak sales to dealers in April amid a continued slowdown in urban consumer demand, impacted by falling wages and rising prices, prompting budget-conscious buyers to postpone their vehicle purchase plans. Entry-level cars, which are generally smaller, simpler, and more fuel-efficient, witnessed a sharp drop in sales during April, while the utility vehicle segment continued to race ahead at full throttle. The sustained decline in demand for budget-friendly cars in recent months has also prompted companies to alter their production plans. Maruti Suzuki, the country's leading car manufacturer, reported a 45% drop in sales of mini-segment cars, comprising the Alto and S-Presso. The company dispatched 6,332 units to dealers in April, compared to 11,519 units in the same month last year, according to its April sales update. The consistent fall in entry-level car sales also led the company to reduce production to 9,714 units in April from 13,702 units a year earlier. Maruti Suzuki has repeatedly voiced concerns about the decline in small car sales. 'Growth in the domestic market has been very limited. For a country with such low penetration of cars, the growth rate of 2–3% is not going to increase it at all. It is a matter of some worry,' said R.C. Bhargava, chairman of Maruti Suzuki, during a post-results media briefing. The major concern, according to Bhargava, is that those who can afford small cars now find them expensive. 'Unless something changes, the domestic market will remain muted. In this current year, sales of small cars have declined by about 9%. If there is such a decline in the sales of cars that can be afforded by 88% of people earning, how can we expect growth?' he asked. Indians bought 4.3 million cars during the last financial year—the highest ever in any fiscal, led by SUVs, but the overall growth remained muted compared to FY24. The growth is also expected to remain under pressure in the ongoing financial year amid domestic growth challenges. Manufacturers expect car sales to grow 1%-2% this year, although some analysts expect growth to pick up by June or September. According to market experts, the extended drop in domestic car sales is due to a combination of affordability constraints, fading pent-up demand post-COVID, and the high base effect from previous years—all of which have weighed on overall growth. Analysts hope the income tax cuts introduced in the 2025 budget will provide some relief and boost domestic car sales. While entry-level cars face continued setbacks, demand for SUVs continues to emerge as a top choice among millennials. Mahindra & Mahindra reported a nearly 28% jump in monthly sales in April, driven by strong demand for its XUV 3X0 and five-door Thar SUVs. That helped the Scorpio maker overtake Hyundai and Tata Motors to claim the No. 2 spot in India's car market for the second time this year. With no sedans or hatchbacks in its lineup, the company has positioned itself entirely around SUVs and compact SUVs — a strategy that has delivered strong, sustained sales momentum. Maruti Suzuki also reported a slight increase of 4.3% in UV (utility vehicle) sales in April. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions. First Published: 2 May 2025, 01:40 PM IST
Business Recorder
02-05-2025
- Automotive
- Business Recorder
Weak April sales hit most top Indian carmakers as demand cools
NEW DELHI: Three of India's top four carmakers reported weak sales to dealers in April, company data showed on Thursday, as buyers delayed purchases amid concerns about slowing economic growth. Market leader Maruti Suzuki posted a marginal 0.6% year-on-year rise, while Hyundai Motor India and Tata Motors clocked declines of 11.6% and 5.1%, respectively. Mahindra & Mahindra, in contrast, reported a near 28% jump in monthly sales, aided by strong demand for its 'XUV 3X0' and five-door 'Thar' SUVs. That helped the 'Scorpio' maker overtake Hyundai and Tata Motors to the no. 2 spot in India's car market for the second time this year. The four automakers together account for 80% of a market that saw record sales of 4.3 million units last year. Their combined sales were up about 1.4% in April, led largely by Mahindra. India's auto sector makes up 7% of GDP and is a major employer. The country's economic growth is seen slowing down, with the central bank projecting full-year GDP growth of 6.5% for fiscal 2025, lower than the 9.2% recorded the year before. Car sales are cooling as the post-pandemic pent-up demand, which propelled sales to record highs in past years, has faded. Growth slowed to 2% in financial year 2025, from 8% the previous year and 27% in fiscal 2023, with industry experts attributing the moderation to a broader economic slowdown. Manufacturers expect car sales to grow 1%-2% this year, although some analysts expect growth to pick up by June or September on lower interest rates and a cut in personal income tax. Phillip Capital said that buyers were postponing purchases, with the trend likely to continue for up to four months. Maruti has held up better due to SUV demand and fleet sales, while Hyundai and Tata have struggled amid fewer new launches as they derive two-thirds of their sales from SUVs.
