Mumbai-headquartered automotive major Mahindra & Mahindra has announced its financial results for Q4 FY2022 and the fiscal gone by.
In FY22, the company sold 455,57 vehicles (+31%) and 350,981 tractors respectively (-0.12%) YoY. This helped the company report its highest-ever annual standalone revenue at Rs 55,300 from its auto and tractor business. At Rs 6,577 crore, the profit after tax grew by 97 percent.
For Q4, the revenue was at Rs 17,124 crore (28% YoY), compared to Rs 13,356 crore for the same period last year; PAT at Rs 2,237 crore (48% YoY).
Riding high on the Thar and XUV700, the Mahindra says it achieved the leadership position in the SUV Revenue Market Share in H2 FY22. The auto business saw its highest ever quarterly UV Volumes in Q4 with 42% growth YoY; while the Farm Equipment Sector share in FY22 grew by 1.8 percent YoY helping it grab 40% share. The OEM also witnessed highest ever farm export volume at around 17,500 tractors in FY22, up by 66% YoY.
Dr. Anish Shah, MD and CEO, Mahindra & Mahindra said, “Our performance in Q4 and FY22 underscores the resilience of our business model. Despite significant challenges due to various factors like Covid, commodity prices, semiconductor shortages and the Ukraine conflict, we have delivered strong results at the consolidated level. All of our group companies are well positioned to capitalise on growth opportunities”.
Rajesh Jejurikar, Executive Director, Mahindra & Mahindra said, “We recorded our highest revenue for Auto and Farm segment in FY22. M&M became No.1 in SUV Revenue Market Share in Q4 and H2 FY22, while FES gained 180 basis points market share in FY22. With 170k+ bookings, the demand for the automotive product portfolio remains strong. FES delivered second highest full year PBIT despite market slowdown and steep commodity inflation. Given the recent fiscal and monetary measures by government of India and RBI, we foresee the cost pressures in the economy to ease out “.
Manoj Bhat, Group CFO, Mahindra & Mahindra said, “Our focus on capital allocation and improved financial metrics continues to deliver results. We continue on our journey towards 18% RoE”.