Mahindra & Mahindra announced its financial results for Q4 FY2022, and the homegrown manufacturer reported a 28 per cent year-over-year (YoY) growth in the Q4 revenues, helped by the auto business delivering its highest ever quarterly volumes with a 42 per cent YoY growth. Mahindra & Mahindra also saw strong growth in export volumes in both auto and farm equipment sectors in FY2022. The passenger vehicles export volumes saw a 77 per cent growth over FY2021, and export of tractors also stood at over 17,500 units in FY2022, up by 66 per cent over FY2021.
Mahindra & Mahindra also reported a revenue of ₹ 17,124 crores in Q4 FY2022, which was 28 per cent higher than the Q4 revenues of FY2021. The profit after taxes (before exceptional items) also saw 17 per cent YoY increment, and went up from ₹ 998 crores to ₹ 1,167 crores. As for FY2022, Mahindra & Mahindra saw a YoY revenue growth of 29 per cent, with revenues going up to ₹ 57,466 crores generating a profit after tax (before exceptional items) of ₹ 5,144 crores, a figure that saw a 26 per cent growth over FY2021.
Commenting on the performance in FY2022, Anish Shah, Managing Director & CEO, M&M Ltd, 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”.
“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”, Rajesh Jejurikar, Executive Director, M&M Ltd added.
Mahindra passenger vehicles sold 1,52,204 vehicles in Q4 FY2022, which was 43 percent higher than the sales in Q4 FY2021, as the sales figures are recovering from the global pandemic. The sale of tractors however, saw a decline in Q4 FY2022 with the figures dropping by 23 per cent over Q4 FY2021 down to 72,058 units sold in Q4 FY2022, bringing the total units sold by the group up to 2,24,262 units in Q4 FY2022. Over the course of FY2022, Mahindra’s passenger vehicles division sold 4,55,570 units, which was 31 per cent higher than the 3,48,621 units sold in FY2021. The sale of tractors saw a marginal decline, with 3,50,981 units sold in FY2022, as opposed to 3,51,431 units sold in FY2021. Mahindra Automotive also has over 1.70 lakh open bookings, with XUV700 leading the way at over 78,000 open bookings.
Highlights
- M&M reported a YoY increase in revenue by 28% in Q4 FY2022.
- The company saw a profit of Rs. 5,144 in FY2022, 26% higher than FY2021.
- M&M sold 4,55,570 passenger vehicles and 3,50,981 tractors in FY2022.
Keyword: Mahindra Releases Q4 FY2022 Results: Reports 28% Growth In Revenues