- Revenue: Rs13,127cr; up 24% yoy, led by 25% yoy volume growth and 1% yoy lower realization. The lower realization is due to GST sales accounting.
- EBITDA: Rs1,975cr; up 60% yoy. Company is expected to benefit from all round growth for all its segments, especially tractors and CVs.
- EBITDA margin: 15%; expansion of 339bps yoy. Price hikes taken by company to offset input cost pressure. Margins further driven by better operating leverage as volumes have stepped up.
- PAT: Rs1,104cr; up 26% yoy
*Numbers based on street estimates. MVML, Mahindra
Vehicle Manufacturers Limited is a 100% subsidiary of M&M that manufactures
utility vehicles, light transport vehicles, and commercial vehicles.
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