MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2023-24 22 Strategic Imperatives The Auto segment aims to deliver significant scale through actions focused on: ICE SUV Leadership Continue to fortify leadership in ICE SUV segment with robust brands like Scorpio, Bolero, XUV700, XUV 3XO and Thar. Product Launches Committed to 23 product launches by 2030 across ICE, BEVs and LCVs. E-SUVs Based on our in-house developed INGLO platform create a new category of e-SUV. Maintain LCV Leadership With continuous innovation and product enhancements. Scaling International Operations Scale international operations multi fold. Strengthening Brand and Customer Obsession Build a legacy of SUV leadership and customercentric innovations. Key Highlights Ÿ Revenue CAGR of 43.1% since F21 Ÿ Scaling up of international operations 1 MS - 6.2% in South Africa, 5% in Australia. Ÿ Top of brand affinity and CSAT – SUV Brand Power #1 in F23 and F24. Ÿ RoCE at 42% for F24 Achievements in F24 Ÿ Achieved highest ever annual sales volume of 825K units, 18% YoY growth Ÿ Continues to dominate the SUV segment being #1 by revenue market share in SUVs, with revenue market of 20.4% (130 bps YoY growth) Ÿ LCV < 3.5T market share stood at 49% an increase of 350 bps YoY despite the industry being flat through the year. This was made possible by launch of new range of Pickups. Ÿ Open Bookings of SUVs at 220K as on 1 May, 2024* indicated a significant reduction from previous year levels, demonstrating improved production capacity and deliveries Ÿ SUV capacity augmentation to 49K per month FARM Indian tractor industry with annual sales volume of 876K units witnessed a YoY decline of 7.4%. However, the long-term growth outlook for the domestic industry remains positive. The key growth drivers include improved affordability, demand for farm mechanisation, newer technologies in farm sector and continued focus of government spend in the sector. Mahindra, with its core brands Mahindra and Swaraj, continues to lead the industry, maintaining its market leadership. New product launches combined with other initiatives like financing, digitisation, service quality, dealer penetration, supply chain ramp up and thoughtful pricing have helped maintain our market position. Farm machinery continues to be a high potential segment owing to concerns on farm productivity and labour shortage. The segment is ramping up with launch of rotary tillers and harvesters for domestic market and various tractor driven implements for export market. The Company also plans to leverage the Centers of Excellence (CoE) in Turkey, Finland and Japan to launch implements and farm machinery in the country. Q4 MS in addressable market Our commitment to pioneering technology and leveraging global partnerships ensures that we remain at the forefront of agricultural advancements. th * Includes 3XO as on 15 May, 2024, 11:00 am
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