• Sensex   32200.59   595.37  sensex_up_arr
  • Nifty   9490.10   175.15   sensex_up_arr
  • Bank Nifty   19169.80   2.45   sensex_up_arr
  • BSE Midcap   11622.06   1.34  sensex_up_arr
  • USDINR   76.01   0.16   sensex_up_arr
Hot Pursuit
Home >> Markets >> Equity >> News >> Hot Pursuit Detailed News
M&M firms up after Q2 result
(14:39, 08 Nov 2019)

M&M witnessed 24% decline in combined profit after tax (after EI) to Rs 1,355 crore on a 15% decline in revenues to Rs 10,935 crore in Q2 September 2019 over Q2 September 2018.

The company reported a combined operating margin of 14.1% in Q2 FY20 as against 14.5% in Q2 FY19.

The company sold 1.10 lakh vehicles in Q2 FY20, lower by 21% from 1.41 lakh units in Q2 FY19. The total tractors sales decrease by 6% to 68,359 units in Q2 FY20 as against 73,012 units in Q2 FY19. Total exports slumped 21% to 10,540 units in Q2 FY20 as compared to 13,377 units in Q2 FY19.

The results include the combined results of M&M and Mahindra Vehicle Manufacturers (MVML), which is a manufacturing unit of M&M.

The Indian auto industry, in particular, is undergoing a challenging period with all industry segments declining for two consecutive quarters for the first time in the last 15 years. Despite such a challenging environment, the company with strong emphasis on cost management, ensured that the EBITDA drop was in line with the revenue decline. The company also successfully increased its market share in tractors as well as passenger vehicles. This has enabled the company to achieve its highest OPM margin in the last four quarters. Q3 has started on a positive note with good deliveries (retails) both in the automotive as well as tractor segments.

In its outlook, M&M said that the government has also announced several sector specific measures over the last months to support economic activity. The announced sectoral measures, a pickup in fiscal spending and the lagged effect of interest rate cuts should help support revive consumption demand and growth going forward. However, any sharp pruning of government expenditure to meet fiscal targets at the fag end of the year or a sharp deterioration in the global environment remain the big risk factors.

M&M operates in automotive segment comprising of sales of automobiles, farm equipment and sale of spare parts.

Powered by Capital Market - Live News

Adani Ports & Special Economic Zone Ltd     331.80   Up   5.15 (1.58%)   Asian Paints Ltd     1,643.60   Up   24.15 (1.49%)   Axis Bank Ltd     390.95   Up   3.95 (1.02%)   Bajaj Auto Ltd     2,600.00   Up   19.45 (0.75%)   Bajaj Finance Ltd     1,947.70   Up   11.25 (0.58%)   Bajaj Finserv Ltd     4,285.95   Up   27.90 (0.66%)   Bharat Petroleum Corporation Ltd     326.45   Down   -3.00 (-0.91%)   Bharti Airtel Ltd     562.75   Down   -0.35 (-0.06%)   Bharti Infratel Ltd     223.85   Up   7.15 (3.30%)   Britannia Industries Ltd     3,323.25   Up   102.95 (3.20%)   Cipla Ltd     628.35   Down   -4.70 (-0.74%)   Coal India Ltd     133.90   Up   3.10 (2.37%)   Dr Reddys Laboratories Ltd     3,887.75   Up   4.75 (0.12%)   Eicher Motors Ltd     16,236.50   Up   1,269.55 (8.48%)   GAIL (India) Ltd     89.10   Up   0.50 (0.56%)   Grasim Industries Ltd     576.50   Up   9.85 (1.74%)   HCL Technologies Ltd     542.65   Up   11.70 (2.20%)   HDFC Bank Ltd     945.25   Up   41.60 (4.60%)   Hero Honda Motors Ltd     2,298.10   Up   122.45 (5.63%)   Hindalco Industries Ltd     138.40   Up   5.10 (3.83%)   Hindustan Unilever Ltd     2,009.95   Up   11.85 (0.59%)   Housing Development Finance Corporation Ltd     1,623.70   Up   53.30 (3.39%)   ICICI Bank Ltd     326.85   Up   8.00 (2.51%)   Indian Oil Corporation Ltd     77.70   Up   0.15 (0.19%)   IndusInd Bank Ltd     386.85   Up   17.90 (4.85%)   Infosys Technologies Ltd     707.40   Up   1.95 (0.28%)   ITC Ltd     190.65   Down   -1.50 (-0.78%)   JSW Steel Ltd     184.15   Down   -0.65 (-0.35%)   Kotak Mahindra Bank Ltd     1,229.45   Up   11.90 (0.98%)   Larsen & Toubro Ltd     905.50   Up   54.65 (6.42%)   Mahindra & Mahindra Ltd     440.40   Up   7.90 (1.83%)   Maruti Suzuki India Ltd     5,468.35   Up   223.95 (4.27%)   Nestle India Ltd     16,989.15   Up   272.65 (1.63%)   NIFTY (S&P CNX)     9,490.10   Up   175.15 (1.88%)   NTPC Ltd     95.70   Up   1.00 (1.06%)   Oil & Natural Gas Corpn Ltd     78.85   Up   0.90 (1.15%)   Power Grid Corporation of India Ltd     157.25   Up   0.10 (0.06%)   Reliance Industries Ltd     1,472.25   Up   26.70 (1.85%)   Shree Cement Ltd     20,808.90   Up   331.35 (1.62%)   State Bank of India     158.20   Down   -0.40 (-0.25%)   Sun Pharmaceuticals Industries Ltd     459.10   Up   8.20 (1.82%)   Tata Consultancy Services Ltd     2,004.30   Down   -1.00 (-0.05%)   Tata Motors Ltd     87.00   Up   2.45 (2.90%)   Tata Steel Ltd     295.50   Up   7.55 (2.62%)   Tech Mahindra Ltd     529.70   Up   5.95 (1.14%)   Titan Company Ltd     899.45   Up   13.60 (1.54%)   UltraTech Cement Ltd     3,809.20   Up   81.80 (2.19%)   UPL Ltd     391.10   Up   3.30 (0.85%)   Vedanta Ltd     89.95   Up   2.05 (2.33%)   Wipro Ltd     199.35   Down   -1.90 (-0.94%)   Zee Entertainment Enterprises Ltd     180.70   Up   16.25 (9.88%)      NSE Data  -  www.nseindia.com (5 minutes delayed) syndicated by www.cmots.com

Want Us to Call You?