ICICI Direct: M&M Logs Solid Q2 Delivery, Macros Conducive To Profitable Growth 
People walk past a Mahindra & Mahindra Ltd. showroom in Mumbai, India. (Photographer: Prashanth Vishwanathan/Bloomberg)

ICICI Direct: M&M Logs Solid Q2 Delivery, Macros Conducive To Profitable Growth 

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Mahindra and Mahindra Ltd. reported a healthy operational performance in Q2 FY21.

Standalone net sales were at Rs 11,711 crore (up 5.7% YoY), with average selling prices in automotive rising 1.6% QoQ to Rs 7.03 lakh/unit in tractor segment rising 1.9% QoQ to Rs 5.19 lakh/unit.

Standalone Ebitda in Q2 FY21 was at Rs 1,890 crore with corresponding Ebitda margins at 16.1% (up 358 basis points YoY).

The margin performance was attributable to lower other expenses (down 287 basis points YoY), employee costs (down 50 basis points YoY).

Click on the attachment to read the full report:

ICICI Direct Mahindra & Mahindra Q2FY21 Result Update.pdf

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