M&M Q4 Results: PAT Rises 32% to ₹2,038 Cr, Dividend Of ₹21.10/Share

Mahindra & Mahindra Ltd (M&M) reported a 32% year-on-year (YoY) increase in standalone net profit to Rs 2,038 crore for the quarter ending March 31, 2024, up from Rs 1,549 crore in the same period last year. The company’s revenue from operations grew by 11.2% YoY to Rs 25,109 crore in Q4, compared to Rs 22,571 crore in the previous year's corresponding quarter. M&M's EBITDA for the quarter was Rs 3,119 crore, with an EBITDA margin of 12.4%. The auto segment's EBIT margin improved by 170 basis points (bps) YoY to 8.8%, while the farm segment's EBIT margin slipped by 80 bps YoY. The company's Q4 tractor market share was 39.4%, down 130 bps, but it had open bookings for 2.2 lakh SUVs as of May 1, 2024. M&M’s board recommended a dividend of Rs 21.10 per equity share (422% of the face value of Rs 5 each), subject to shareholder approval. For the full financial year 2024, M&M reported a net profit of Rs 10,718 crore. Additionally, the board approved a Rs 12,000 crore investment in its EV subsidiary (MEAL) over the next three years. Watch BTTV Managing Editor Siddharth Zarabi in conversation with Rajesh Jejurikar, ED and CEO, Auto and Farm Sector, M&M.