Q4F2018 – M&M + MVML Results

Q4 M&M + MVML Revenue at Rs. 13189 crore up by 26%

Q4 M&M + MVML PAT after (EI) at Rs. 1155 crore up by 50%

Mumbai, 29th May 2018: The Board of Directors of Mahindra and Mahindra Limited today announced the financial results for the quarter ended 31st March 2018 of the company and the audited results for the year ended 31st March 2018 for the company and the consolidated Mahindra Group.

Q4F2018 – M&M + MVML* Results
  Q4 F2018
Rs. Crore
Q4 F2017
Rs. Crore
Growth YOY
Revenues and Other Income 13355 10795 24%
Profit from ordinary activities before tax (before EI) 1672 931 80%
Profit from ordinary activities after tax (before EI) 1107 677 64%
Profit from ordinary activities after tax (after EI) 1155 770 50%
OPM 15.1 11.2  
Vehicles sold (Nos) 156453 130778 20%
Tractors sold (Nos) 66885 46583 44%
Exports (vehicles and tractors) (Nos) 12459 10939 14%

For the year F2018, improvement in overall economic sentiment, two consecutive years of normal monsoon, Government’s focus on development of Agri and Rural sectors, with continued investment in Infrastructure, coupled with easy availability of affordable finance, helped drive the demand for the automotive as well as the tractor industry.

For Q4 F2018, the domestic auto industry (excluding 2W) grew 19%, with the passenger vehicles reporting a growth of 7% and the UV segment a growth of 25%. The domestic tractor industry witnessed a very high growth of 44%. In Q4 F2018, the domestic Automotive volume for the company grew 20% while the domestic tractor volumes grew 44%.

For the full year F2018, the company continued to be the 3rd largest passenger vehicle company, the 2nd largest commercial vehicle company and the largest small commercial vehicle (LCV < 3.5T) company in India. Domestic sales crossed the 5,00,000 mark after a gap of five years. The company achieved its highest ever sales for Scorpio and Pik-Ups this year and Bolero volumes crossed 1 million since launch. Also, in F2018, the company recorded its highest ever tractor volumes for both domestic and export, and retained the leadership position for the 35th consecutive year.

Outlook:

Economic activity is expected to gather pace as the transitory effects of implementation of the goods and services tax (GST) recede. This outlook will also be lifted by tailwinds from normal rainfall with the weather bureau forecasting a ‘normal’ monsoon for the third successive year in its first stage long range forecast. While the spatial and temporal distribution remain to be seen, well spread out rainfall is likely to have a salutary impact on the overall demand conditions. However, rising crude oil prices, which have already risen noticeably, call for greater prudence.

Global growth backdrop too remains benign with the synchronised cyclical rebound. However, escalation in geo-political risks, trade frictions, tightening monetary conditions, and higher crude oil prices could pose downside risks to global trade and demand growth outlook.

F2018 – M&M + MVML Results
  F2018
Rs. Crore
F2017
Rs. Crore
Growth YOY
Revenues and Other Income 48529 42584 14%
Profit from ordinary activities before tax (before EI) 6182 4694 32%
Profit from ordinary activities after tax (before EI) 4190 3394 23%
Profit from ordinary activities after tax (after EI) 4623 3924 18%
OPM 14.8 13.1  

F2018 – M&M Standalone results
  Q4 F2018
Rs. Crore
Q4 F2017
Rs. Crore
F2018
Rs. Crore
F2017
Rs. Crore
Revenues and Other Income 13479 12358 50481 48729
Profit from ordinary activities after tax (before EI) 1011 528 3922 3113
Profit from ordinary activities after tax (after EI) 1059 622 4356 3643

The Board of Directors has recommended a post bonus dividend of Rs. 7.50 (150%) per share of face value Rs. 5.00 (previous year pre bonus Rs. 13.00 (260%) per share of face value Rs. 5.00 each) and will be paid to those shareholders whose names stand registered in the books of the company as on the book closure date.

F2018 – Group Consolidated Results
  F2018
Rs. Crore
F2017
Rs. Crore
Growth YOY
Revenues and Other Income 93896 89713 5%
Profit after tax after Non-Controlling Interest (before EI) 5050 3270 54%
Profit after tax after Non-Controlling Interest (after EI) 7510 3698 103%

A full summation of Gross Revenues and other income of all the group companies taken together for the whole year F2018 is Rs. 133,847crore (USD 20.7billion).

Note: Translation of rupee to dollar is a convenience translation at the average exchange rate for the twelve month period ended 31st March 2018.

About Mahindra

The Mahindra Group is a USD 19 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It enjoys a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume. It also enjoys a strong presence in agribusiness, aerospace, commercial vehicles, components, defence, logistics, real estate, renewable energy, speedboats and steel, amongst other businesses. Headquartered in India, Mahindra employs over 2,40,000 people across 100 countries.

Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise

Media contact information:
Mohan Nair
Vice President (Communications)
Mahindra & Mahindra Ltd.
Office Direct Line – + 91 22 28468510
Office Email Address – nair.mohan@mahindra.com

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