India’s largest agri equipment manufacturer Mahindra & Mahindra Ltd. has surpassed Bloomberg consensus estimates in seven out of the last 10 quarters, and in each of the last four quarters.
The company announces its first quarter results on Friday with revenue estimated to increase 7 percent on a year-on-year basis. The tractor business, which has been growing since last year, continues to remain in focus on healthy monsoons and farm loan waivers announced by four state governments so far. Margins may remain under pressure as the company compensated dealers ahead of the implementation of the Goods and Services Tax.
Forty one of the 47 analysts tracked by Bloomberg have a Buy rating on the stock.