Mahindra & Mahindra Limited Hits New High on Robust April Sales

Shares of Mahindra and Mahindra Limited soared over 2 per cent to ₹2,204 on May 2, marking a new 52-week high for the company. This uptick follows the announcement of a significant uptick in overall sales, with a 13 per cent jump to 70,471 vehicles in April.

Mahindra & Mahindra Impressive Stock Performance:

The company’s shares have witnessed a remarkable rally of 27 per cent over the last three months, underscoring investor confidence in its growth trajectory.

M&M reported robust performance across its key segments. In the Utility Vehicles segment, domestic sales surged by 18 per cent, totaling 41,008 vehicles.

Farm Equipment Business:

Within the farm equipment business, domestic sales remained robust, recording 35,805 units in April compared to 35,398 units in the corresponding period last year. Total tractor sales witnessed a healthy uptick to 37,039 units, up from 36,405 units in April 2023.

The company’s export figures also demonstrated resilience, with April exports standing at 1,234 units, a notable increase from 1,007 units reported in the same period last year.

Strategic Outlook by M&M:

Rajesh Jejurikar, Executive Director and CEO- Auto and Farm Equipment Sector at M&M, expressed optimism regarding the company’s position in the utility vehicles segment. 

He stated, “We are number five in that sub-segment that is the size of 6 lakh and we hope to get number two or number one position in that,” highlighting the ambitious growth aspirations of M&M

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