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