M&M Q2 Review - Playing On The Core Strengths: Prabhudas Lilladher

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..Prabhudas Lilladher Report.Mahindra and Mahindra Ltd. posted a decent operating performance amidst challenging raw material scenario. Q2 FY22 Ebitda margin came below our estimates and impacted raw material inflation as well as weak mix. Despite sharp price hikes taken by the company, tractor segment’s Ebit margin came in at 18.7% (down 570/down 160 basis points YoY/QoQ) while automotive segment was at 2.7% (down 380/down 100 bps YoY/QoQ). However, new product launches in automotive segment are seeing good traction with ~70,000 plus bookings for XUV700 and overall orderbook of ~160,000 units. M&M mentioned that due to erratic monsoons, price hikes and higher base tractor demand is seeing some moderation and expect flat to low single digit growth in FY22. Thus focus is on farm machinery segment with an intention to make it ~10 times by FY27..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

M&M Q2 Review - Playing On The Core Strengths: Prabhudas Lilladher

M&M Q2 Review - Playing On The Core Strengths: Prabhudas Lilladher

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