M&M Q4 results: PAT rises 32% to Rs 2,038 crore; dividend announced

Mahindra & Mahindra Ltd (M&M) on Thursday reported a 31.58 per cent jump on a year-on-year (YoY) basis in its standalone net profit of Rs 2,038.21 crore in the quarter ended on March 31, 2024. The company's bottomline came in at Rs 1,548.97 crore in the year ago period.
 

The homegrown automaker's revenue from operations grew 11.25 per cent to Rs 25,108.97 crore YoY in the fourth quarter of the year ended on March 31, 2024. The company's topline stood at Rs 22,571.37 crore in the same quarter previous financial year.
 

Mahindra & Mahindra's Ebita for the quarter came in at Rs 3,445.9 crore with an Ebitda margin of 13.5 per cent for the March 2024 quarter. The company's auto Ebit stood 8.8 per cent for the quarter, improving 170 bps YoY. However, farm ebit slipped 80 bps YoY.
 

Following the announcement of quarterly earnings, shares of M&M surged more than 3.13 per cent to Rs 2374.80, hitting its new 52-week highs. The total market capitalization of the company stood close to Rs 3 lakh crore.
 

The blue-chip auto maker's Q4 tractor market share came in at 39.4 per cent, down 130 basis points (bps). However, it had open bookings for 2.2 lakh SUVs as on May 1, 2024.
 

The company board of M&M also recommended a dividend of Rs 21.10 per equity share, or  422 per cent, of the face value of Rs 5 each. However, it is subject to approval from shareholders of the company.
 

For the entire financial year 2024, M&M reported a net profit of Rs 10,717.80 crore, rising 63.66 per cent YoY from Rs 6,548.64 crore in the previous year. Revenue from operations rose 16.24 per cent YoY to Rs 98,763.42 crore in FY24 from Rs 84,960.26 crore in FY23.
 

M&M also announced an investment of Rs 12,000 crore in MEAL to fund our EV journey over the next three years. M&M and its auto division expect to generate sufficient operating cash to satisfy all our capital investment needs and are not looking to raise additional capital.