M&M’s Q2FY25 Results
M&M’s revenue grew 10% YoY
- 08 Nov 2024
- 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:
| (₹ crores) | Q2FY24 | Q1FY25 | Q2FY25 | QoQ (%) | YoY (%) |
|---|---|---|---|---|---|
Total income | 35,027 | 37,626 | 38,583 | 3% | 10% |
Total expenses | 31,680 | 33,330 | 34,309 | 3% | 8% |
Profit before tax | 3,568 | 4,621 | 4,740 | 3% | 33% |
Tax | 1,084 | 1,075 | 1,379 | 28% | 27% |
Profit after tax | 2,484 | 3,546 | 3,361 | -5% | 35% |
Earnings per share | 21.0 | 29.3 | 28.3 |
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
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