M&M reports Q3FY22 results, export volumes up by 58.3% on a YoY basis

resr 5paisa Research Team 13th December 2022 - 12:25 pm
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The overall performance has improved compared to the corresponding quarter last year but has deteriorated sequentially.

Mahindra & Mahindra Ltd, one of the leading auto companies in India with a leadership position in utility vehicles, announced its Q3FY22 results yesterday.

During the quarter, on a consolidated basis, the net revenue was up by 9.10% YoY to Rs 23594.46 crore. The PBIDT (ex OI) surged by 28.54% YoY by declining by 7.47% to Rs 4526.19 crore. The corresponding margin expanded by 290 bps YoY but contracted by 360 bps sequentially to 19.18%.

The sequential decline and contraction in the margin were driven by a rise in commodity price and operating leverage. To tackle the challenge of rising commodity prices, the company has undertaken stringent cost control measures.

The PAT increased by a stellar 184.76% YoY but a mere 1.73% sequentially to Rs 2066.60 crore. Similarly, the PAT margins expanded by 540 bps YoY but contracted sequentially by 70 bps to 8.76%.

The company’s auto business continues to register a strong booking pipeline for its key models. Its export volumes went by 58.3% on a YoY basis. Also, the company's XUV 700 received a strong response from the markets. It received booking for more than 1 lakh units in 4 months.

Moreover, the company’s EV segment seems to be gaining traction as it registered its highest ever quarterly billing for EV 3 wheelers, an increase of 170.2% YoY.

While the global shortage of semi-conductors / ECUs impacted production and sales during this quarter too, the supplies have increased. Owing to this, there is a sequential rise in volumes.

At 3.07 pm, the share price of Mahindra & Mahindra Ltd was trading at Rs 854.85, an increase of 0.21% from the previous day’s closing price of Rs 853.10 on BSE.


Also read: Mahindra & Mahindra Shares Q3 Results

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