M&M Q4 Results: Net profit jumps over four-fold to Rs 1,292 cr

Homegrown auto major Mahindra & Mahindra (M&M) on Saturday reported a 427 per cent jump in its standalone profit after tax (PAT) at Rs 1,292 crore, for the quarter ended March 31, 2022. The firm has recorded a standalone PAT (before exceptional items) of Rs 245 crore in the same quarter last year. 

Revenue for the quarter stood at Rs 17,124 crore, a 28 per cent jump over the corresponding quarter last year. In Q4FY21, the firm has reported a revenue of Rs 13,356 crore. EBITDA stood at 1,946 crore for the January-March quarter of FY22 as against Rs 1,955 crore in Q4FY21. 

The Board has recommended a dividend of Rs 11.55 per Ordinary (Equity) Share of the face value of Rs 5 each

Net profit for the entire year was up 401 per cent at Rs 4,935 crore against Rs 984 crore in the previous fiscal year. Revenue was up 29 per cent at Rs 57,446 crore compared to last year at Rs 44,630 crore. 

The firm sold 1,52,204 vehicles in Q4 of FY22, up 43 per cent from the same quarter of the previous fiscal year. Tractor sales during Q4Fy21 were recorded at 72,058, declining by 23 per cent from the same quarter last fiscal. 

The firm noted that it recorded the highest ever standalone revenue for Auto and Farm Segments at over Rs 55,300 cr for FY22, up 29 per cent. M&M also achieved the number one position in SUV Revenue Market Share in H2 FY22

Commenting on the performance of the firm, 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. All of our group companies are well positioned to capitalize on growth opportunities." 

Rajesh Jejurikar, Executive Director, M&M Ltd, 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," he added. 

Also read: M&M logs rise in overall auto sales in Apr; sells 45,640 vehicles