M&M Q3 Results: Key insights and analysts review on share price
M&M reported its December quarter numbers on Friday. For Auto plus Farm, the company reported the highest ever revenue. M&M stock price closed 0.67% lower on Friday at Rs 1362.95 per share. In the last one year, M&M's share price has surged by 60%, and in the past five years, the share has gained 83.25%. Let us look at how Mahindra And Mahindra performed in the December quarter. Click here to view share.
M&M Q3 Results: Highlights
- Consolidated Revenue: Rs 30,620 crore, up 30% YoY
- Consolidated Profit: Rs 2,677 crore, up 35% YoY
- EBITDA: Rs 2,814 crore, up 56% YoY
M&M Q3 Results: Key Points
M&M Revenue Rises: For the December quarter, the company reported a consolidated revenue of Rs 30,620 crore, a growth of 30% year on year. In the same period last year, the company reported a consolidated revenue of Rs 23,594 crore. The Auto segment grew at 52%, while FES grew by 16% year on year. The company reported its highest-ever quarterly group revenue reflecting strong growth across businesses.
M&M Profit Soars: The consolidated profit for Q3FY23 stood at Rs 2,677 crore, up 35% year on year. In the same period, the company reported a profit of Rs 1987 crore.
The standalone net profit stood at Rs 1,528 crore during Q3FY23, up from Rs 1,335 crore in the same quarter of the previous fiscal.
M&M Operating Profit Increases: Earnings before interest, tax, depreciation, and amortization (EBITDA) were up 56% at Rs 2,814 crore from Rs 1,803 crore and the margin was up at 13% against 11.7% YoY. The Mumbai-based firm's operating margins improved 130 basis points at 13% in the said quarter.
M&M Q3 Results: Vehicle sold: The automaker sold 1.76 lakh vehicles in the December quarter, 45% higher than the corresponding period last year. The company's tractor sales also went up by 14% YoY during Q3FY23.
M&M Q3 Results: EV Update: Mahindra sees huge potential for EVs. As per the company, about 20 to 30% of their SUVs will be EVs by 2027. The EV plant to come up as part of the Rs 1,000 crore expansion at its Zaheerabad unit in Telangana would also be fast-tracked, and work is likely to commence in about three months.
M&M Management Commentary: “We have had another robust quarter led by the robust performance of our Auto division. Our farm division also reported healthy growth with increased market share. Our capital allocation actions are continuing to show results, and we remain committed to our journey of growth and returns.”, Dr. Anish Shah, MD & CEO, M&M Ltd.
This is not investment advice. Investments in the securities market are subject to market risk, read all the related documents carefully before investing. Past performance is not indicative of future returns.