Mahindra & Mahindra (M&M) — concall transcript

📢 Key Event
Farm sector profit hit ₹1081 crores (+59% YoY) and Auto returned to profitability with ₹103 crores gain

🔄 What Changed
Farm business delivered highest-ever Q1 profit at ₹1081 crores; Auto returned to profit after previous loss; Mahindra Finance provisions rose to ₹2517 crores

🔮 What's Next
Mahindra Finance expects 80-90% reversal of ₹2124 crores ECL provision by Q3/Q4; ESG targets include carbon neutrality by 2040

💡 Investor Takeaway
Strong operational resilience in Farm and Auto offset financial sector stress, with consolidated PAT reaching ₹856 crores despite pandemic challenges

Mahindra & Mahindra reported strong Q1 FY22 results driven by Farm sector profit of ₹1081 crores (+59% YoY) and Auto recovery to ₹103 crores profit from a ₹584 crore loss, despite pandemic headwinds. Farm market share rose to 41.8% with 52% volume growth, while TechM delivered 39% PAT growth to [amount context mismatch] crores. Mahindra Finance faced elevated GNPA at 15.5% and ₹2517 crores provisions, but expects 80-90% reversal of ₹2124 crores ECL provision by Q3/Q4. Consolidated PAT after exceptional items reached ₹856 crores, with international subsidiaries turning profitable. Management highlighted ESG commitments, new product launches including XUV700, and focus on data-driven turnaround for Mahindra Finance.

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About Mahindra & Mahindra Ltd (M&M)

Automobile and Auto Components · Automobile · Listed on BSE

Market Cap: ₹3,82,254.55 Cr P/E: 18.6 ROE: 21.7% ROCE: 16.4% Div Yield: 1.07%

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"How will Mahindra Finance reverse 80-90% of its ₹2124 crores ECL provision by Q3?" "What specific cost controls drove Farm margins to 20.3% despite commodity inflation?" "When will XUV700 deliveries begin and what is the expected volume impact?"

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🔥 Also filed on 30 June 2021

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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