Mahindra & Mahindra rallies 4%, hits 52-week high post Q4 results

Shares of Mahindra & Mahindra (M&M) hit a 52-week high of Rs 988, as they rallied 4 per cent on the BSE in Monday’s commerce after the corporate reported a 17 per cent year-on-year (YoY) rise in standalone revenue (earlier than distinctive objects) at Rs 1,167 crore for the March quarter (Q4FY22) in contrast with Rs 998 crore in the identical quarter final yr. After accounting for distinctive objects, revenue rose 427 per cent to Rs 1,292 crore from Rs 245 crore in the identical quarter final yr.

The inventory of passenger vehicles & utility autos maker has surpassed its earlier high of Rs 978.90 hit on November 17, 2021. It traded near its file high of Rs 992 touched on August 30, 2018.

At 09:25 am; M&M traded 1 per cent greater as in comparison with 1.5 per cent rise within the S&P BSE Sensex. In the previous one month, the inventory outperformed the market by gaining 3 per cent, as towards a 3 per cent decline within the benchmark index. In the final three months, the inventory has surged 20 per cent as in comparison with 0.5 per cent fall within the Sensex.

In Q4FY22, M&M’s standalone internet gross sales for the quarter stood at Rs 17,124 crore, up 28 per cent YoY, up 12.4 per cent QoQ. Standalone EBITDA de-grew 0.5 per cent YoY at Rs 1,946 crore with corresponding EBITDA margins at 11.4 per cent, down 327 bps YoY and down 50 bps QoQ.

M&M turned No.1 in SUV income market share in Q4 and H2FY22, whereas farm tools sector (FES) gained 180 foundation factors market share in FY22. With 170k+ bookings, the demand for the automotive product portfolio stays robust. FES delivered second highest full yr PBIT regardless of market slowdown and steep commodity inflation.

Given the latest fiscal and financial measures by Government of India and RBI, the administration foresees the associated fee pressures within the economic system to ease out.

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