M&M’s Q2FY25 Results

• M&M reported a 3% quarter-on-quarter (QoQ) increase in its consolidated revenues for the quarter ended Sept (Q2FY25). On a year-on-year (YoY) basis, it witnessed a growth of 10%.
• Its expenses for the quarter were up by 3% QoQ and 8% YoY.
• The net profit reduced 5% QoQ and grew 35% YoY.
• The earnings per share (EPS) of M&M stood at 28.3 during Q2FY25.

M&M’s Financial Statements for Q2FY25:

Financials:

• #1 in SUVs with revenue market share at 21.9%, up 190 bps SUV volumes up 18% in Q2, 21% YTD Sep
• #1 in LCVs <3.5T: market share at 52.3%^ , up 260 bps
• #1 in Tractors: market share at 42.5%, up 90 bps
• #1 in electric 3 wheelers: market share at 43.6%
• MMFSL AUM up 20%, GS3 within range at 3.8%, end losses down to 1%
• Tech Mahindra EBIT up 490 bps, continued focus on margin expansion
• Consolidated Revenue at ₹37,924 cr., up 10%
• Consolidated PAT at ₹3,171 cr., up 35% (~ Excluding gains on KG Mobility listing and MCIE sale in Q1 F24 ^ Bolero Max Pickup 2T variant classified under LCV 2-3.5T)

Management Commentary:

Dr. Anish Shah (Managing Director & CEO):

• The company delivered strong operating performance for the quarter.
• Auto and Farm businesses gained market share and expanded margins.
• MMFSL GS3 remained under 4% at 3.8%, with structural improvements in end losses.
• TechM performed well, focusing on returning to past profitability.

Mr. Rajesh Jejurikar (Executive Director & CEO, Auto and Farm Sector):

• Market share increased across both Auto and Tractor segments in Q2 FY25.
• SUV volumes rose by 18% YoY, with revenue market share up 190 bps YoY driven by successful launches.
• LCVs <3.5T saw volume market share reach 52.3%, up 260 bps YoY.
• Tractor business recorded highest-ever Q2 market share at 42.5%, with standalone margins up 150 bps YoY.

Data Source: BSE, Company announcements The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results