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Business News/ Markets / Stock Markets/  M&M shares rally to record high post strong Q4 show
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M&M shares rally to record high post strong Q4 show

 Mahindra & Mahindra (M&M) reported nearly five-fold jump in its standalone Q4 net profit at ₹1,192 crore

An employee walks past a Mahindra TUV300 car at a showroom in Mumbai, India. File Photo (REUTERS)Premium
An employee walks past a Mahindra TUV300 car at a showroom in Mumbai, India. File Photo (REUTERS)

Shares of Mahindra & Mahindra (M&M) rose to record high of 1,006 apiece on the BSE in Monday's early deals after the automaker reported a five-fold jump in standalone profit at 1,192 crore for its fourth quarter that ended March 31, 2022.

The Mahindra Group company's revenue grew 28% to 17,124 crore in the period under review as compared with 13,356 crore in March quarter 2020-21.

“M&M’s net realization improved and volumes grew 13% YoY in 4QFY22. Contributions from subs/JVs/Associates continued to improve. Farm subsidiaries recorded the seventh consecutive quarter of positive EBIT. Semiconductor supplies improved in 4QFY22, resulting in the highest ever quarterly UV volumes," said domestic brokerage Motilal Oswal while maintaining its buy tag on M&M share price.

M&M said it achieved the highest ever standalone revenue for auto and farm segments at 55,300 crore for FY22, which is 29% higher than previous year's.

It also said the company's auto business delivered highest ever quarterly UV (utility vehicle) volumes in Q4 with 42% year-on-year growth while Farm Equipment Sector (FES) tractors market share for FY22 stood at 40%. The semiconductor supplies improved in Q4 resulting in highest ever quarterly UV volumes.

“Our performance in 4Q 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," said Anish Shah, Director and CEO of M&M.

The auto stock has risen over 23% in a year's period whereas it is up about 20% in 2022 (YTD) so far as compared to a 5% fall in benchmark Sensex during the period.

The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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Published: 30 May 2022, 11:55 AM IST
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