Driven by the shared purpose of empowering everyone along the way, the Q1 2018 financial results of the Mahindra Group companies reflect a significant growth in performance.
M&M and Mahindra Vehicle Manufacturers (MVML)
- Revenue at Rs. 13,358 crores, up by 23%
- PAT (after EI) at Rs. 1,257 crores, up by 67%
The Mahindra & Mahindra journey began in 1945 as a steel company. Today it is a USD 20.7 billion global federation of companies, operating in 20 key industries. From our popular rugged and reliable automobiles, lifestyle four and two-wheelers, to innovative IT solutions, holidays, and homes, and a commitment to rural prosperity, M&M’s insightful and ingenious solutions cover every aspect of humanity. Here is a glimpse of the key performance of some of our group companies.
Tech Mahindra represents the connected world, offering innovative and customer-centric information technology experiences, enabling enterprises, associates and the society to Rise™. This arm of Mahindra group is constantly focusing on bringing tomorrow’s technology to businesses today.
- Revenue at Rs 8,276 crores, up by 12.8 % YoY
- (PAT) at Rs 898 crores, up by 12.4% YoY
C.P. Gurnani, MD & CEO, Tech Mahindra, says, “The overall business growth trajectory for the FY19 is on track. While business seasonality has affected the current quarter, our Run Change Grow Strategy with strong focus on digital transformation is keeping the business buoyant. The changing demand landscape for next generation technologies is going to fuel the digital business further."
Pininfarina designs, engineers and manufactures high-end technology, extreme performance, luxury electric vehicles for the most discerning global customers.
- Value of production increased by 39.6%, compared to the figures on June 30, 2017
- Net profit of 3.1 million euros which compares with the net loss of 0.6 million euros last year.
Silvio Pietro Angori, CEO, Pininfarina, says, "Consolidated data for the first half of 2018 shows record results for Pininfarina compared with those of the first half of 2017: increase in production value and strong growth in EBITDA, EBIT and net profit period.”
Mahindra & Mahindra Financial Services Ltd. is one of India’s leading non-banking finance companies. Focused on the rural and semi-urban sector, they have over 5.5 million customers. They are the leading vehicle and tractor financier and offer fixed deposits and loans to SMEs.
- Income at Rs.1940 crores up by 29% YoY
- PAT at Rs.269 crores up by 34% YoY
Mahindra Holidays and Resorts India Ltd.
Mahindra Holidays & Resorts India Limited is India’s leading player in the leisure hospitality industry. They offers quality family holidays primarily through vacation ownership memberships.
- Income at Rs. Rs. 295.4 crores up 8.0% YoY
- PAT at Rs 36.8 crores up 13.8% YoY
Commenting on the results, Kavinder Singh, MD & CEO, Mahindra Holidays & Resorts India Ltd., says, “Our strategy of enhancing our resort experiences, member engagement and digitization of customer facing processes has yielded significant growth in all key operational and financial metrics e.g. member additions, resort income, high occupancies and improved profit margins.”
Mahindra Logistics Ltd.
Mahindra Logistics Ltd. (MLL) is one of India’s largest 3PL solutions providers. Founded more than a decade ago, MLL serves over 350 corporate customers across various industries like automobile, engineering, consumer goods and E-commerce.
- Revenue at Rs.928 crore up by 9%
- PAT at Rs. 24 crores up by 61%
CEO of Mahindra Logistics Pirojshaw Sarkari (Phil) says, “We continue to focus on improving profitability. This quarter, the profit growth was significantly higher because of expansion in gross margins, increase in other income, and nil strategic consulting fees compared to last year. We remain buoyant on the logistics sector potential and will continue our endeavor to shape the industry and expand our business.”
Mahindra Lifespace Developers Limited (MLDL) the real estate and infrastructure development business of the Mahindra Group has recorded a profit of 26.7 crore for Q1F19.
- The consolidated total income for the quarter was Rs. 175.8 crores as against Rs. 148.7 crores in Q1 FY18 and Rs. 180.6 crores in Q4 FY18.
- The consolidated PAT, post minority interest, stood at Rs. 26.7 crores for the quarter as against Rs 13.8 crores in Q1 FY18 and Rs. 47.8 crores in Q4 FY18.
Anita Arjundas, MD, Mahindra Lifespace Developers Ltd., says, “This has been a transitionary quarter in terms of shifting to new standards that are based on completion of contracts and hence the financial numbers are not directly comparable with previous periods. Strong collections, the launch of ‘Roots’ at Kandivali, and the multi-product SEZ at Jaipur are key milestones for the quarter. Multiple new projects that are targeted for launch during the year will further strengthen operational throughput and performance.”