Mahindra & Mahindra (M&M) — concall transcript

📢 Key Event
Q2 FY22 PAT before EI up 29% to ₹1,687 crores; PAT after EI up 9x to ₹1,432 crores

🔄 What Changed
PAT before EI up 29% (₹1,687 crores); PAT after EI up 9x (₹1,432 crores); standalone revenue up 15%; auto PBIT down due to 32,000 unit volume loss

🔮 What's Next
Target 15-20% CAGR by 2025; 30%+ farm machinery market share by 2027; 13 new SUV launches by 2027 with 20% electric share; CAPEX focused on growth segments; OPM cost reduction target of 3% YoY

💡 Investor Takeaway
Strong PAT growth driven by core business resilience and Mahindra Finance recovery, but margin pressure from commodity and semiconductor headwinds requires cost discipline to sustain growth momentum.

Mahindra & Mahindra reported strong Q2 FY22 results with standalone PAT before EI up 29% to ₹1,687 crores and PAT after EI up nearly 9x to ₹1,432 crores, driven by resilient core businesses and recovery in Mahindra Finance. Despite commodity inflation, semiconductor shortages, and freight cost pressures, revenue grew 15% standalone and 13% consolidated, with farm revenue up 4% but PBIT down 14% due to input cost inflation. Auto revenue surged 23% but PBIT declined due to 32,000 unit volume loss from semiconductor constraints. The company highlighted robust demand for XUV700 with 160,000 cumulative bookings and strong international subsidiary turnaround, while announcing strategic growth targets including 15-20% CAGR by 2025, 30%+ farm machinery market share, and 13 new SUV launches by 2027 with 20% electric share.

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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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🔥 Also filed on 30 September 2021

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

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