Mahindra & Mahindra Ltd Share Price – NSE /  BSE

Automobile, Mid Cap

The broker's bullish stance is underpinned by its engagement with M&M's management, who expressed strong confidence in the company's growth trajectory driven by an ambitious pipeline of new model launches. Analysts anticipate these launches to fuel growth in FY25-26.

M&M has strategically shifted its domestic passenger vehicle (PV) portfolio, increasing the SUV mix from 35% to 55% over the past five years. The company is now focusing on mid and premium SUV segments, aligning with the evolving consumer preferences towards feature-rich vehicles, even at a premium.

While EVs are expected to witness significant growth in the domestic market, analysts noted a potential slowdown in urban discretionary spending following three robust fiscal years up to FY24. However, M&M's strong product pipeline and strategic focus position it well to capitalize on the growing demand for SUVs and EVs.

In addition to its robust passenger vehicle business, M&M's strong tractor segment and improving automotive franchise continue to attract investor interest. A recent broker's note highlighted the potential for significant growth in the tractor industry, projecting a 13% volume CAGR and a 19% EPS CAGR for M&M over FY24-27E.

M&M Group enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India. It is the world's largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.

On consolidated basis, the company's net profit jumped 35.05% to Rs 3,170.72 crore on 10.13% rise in income from operations to Rs 37,923.74 crore in Q2 FY25 as compared with Q2 FY24. The company’s revenue from automotive segment was at Rs 21,755.21 crore (up 15.29% YoY) while revenue Farm Equipment sector (FES) stood at Rs 8,194.30 crore (down 2.14% YoY).

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Mahindra & Mahindra Ltd gained for a third straight session today. The stock is quoting at Rs 2972.45, up 4.41% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 1.25% on the day, quoting at 23745.85. The Sensex is at 78326.94, up 1.28%. Mahindra & Mahindra Ltd has slipped around 0.86% in last one month.

Meanwhile, Nifty Auto index of which Mahindra & Mahindra Ltd is a constituent, has slipped around 6.42% in last one month and is currently quoting at 23043.85, up 2.55% on the day. The volume in the stock stood at 24.4 lakh shares today, compared to the daily average of 39.42 lakh shares in last one month.

The benchmark November futures contract for the stock is quoting at Rs 2973.7, up 4.24% on the day. Mahindra & Mahindra Ltd is up 91.5% in last one year as compared to a 20.57% spurt in NIFTY and a 40.86% spurt in the Nifty Auto index.

The PE of the stock is 32.46 based on TTM earnings ending September 24.

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Mahindra & Mahindra announced its production, sales and export figures for month of October 2024.

Production stood at 88,250 units in October 2024 compared to 78,889 units in October 2023.

Sales were 93,142 units in October 2024 compared to 78,825 units in October 2023.

Exports were 3506 units in October 2024 compared to 1,854 units in October 2023.

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Net profit of Mahindra & Mahindra rose 35.05% to Rs 3170.72 crore in the quarter ended September 2024 as against Rs 2347.75 crore during the previous quarter ended September 2023. Sales rose 9.94% to Rs 37689.04 crore in the quarter ended September 2024 as against Rs 34281.20 crore during the previous quarter ended September 2023.

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