Mumbai-headquartered automotive main Mahindra & Mahindra has introduced its monetary outcomes for This autumn FY2022 and the fiscal passed by.
In FY22, the corporate offered 455,57 automobiles (+31%) and 350,981 tractors respectively (-0.12%) YoY. This helped the corporate report its highest-ever annual standalone income at Rs 55,300 from its auto and tractor enterprise. At Rs 6,577 crore, the revenue after tax grew by 97 %.
For This autumn, the income was at Rs 17,124 crore (28% YoY), in comparison with Rs 13,356 crore for a similar interval final 12 months; PAT at Rs 2,237 crore (48% YoY).
Riding excessive on the Thar and XUV700, the Mahindra says it achieved the management place within the SUV Revenue Market Share in H2 FY22. The auto enterprise noticed its highest ever quarterly UV Volumes in This autumn with 42% development YoY; whereas the Farm Equipment Sector share in FY22 grew by 1.8 % YoY serving to it seize 40% share. The OEM additionally witnessed highest ever farm export quantity at round 17,500 tractors in FY22, up by 66% YoY.
Dr. Anish Shah, MD and CEO, Mahindra & Mahindra mentioned, “Our performance in Q4 and FY22 underscores the resilience of our business model. Despite significant challenges due to various factors like Covid, commodity prices, semiconductor shortages and the Ukraine conflict, we have delivered strong results at the consolidated level. All of our group companies are well positioned to capitalise on growth opportunities”.
Rajesh Jejurikar, Executive Director, Mahindra & Mahindra mentioned, “We recorded our highest income for Auto and Farm phase in FY22. M&M grew to become No.1 in SUV Revenue Market Share in This autumn and H2 FY22, whereas FES gained 180 foundation factors market share in FY22. With 170k+ bookings, the demand for the automotive product portfolio stays sturdy. FES delivered second highest full 12 months PBIT regardless of market slowdown and steep commodity inflation. Given the latest fiscal and financial measures by authorities of India and RBI, we foresee the fee pressures within the financial system to ease out “.
Manoj Bhat, Group CFO, Mahindra & Mahindra mentioned, “Our focus on capital allocation and improved financial metrics continues to deliver results. We continue on our journey towards 18% RoE”.
Source: www.financialexpress.com”