Mahindra & Mahindra's Q2 Production Rises 24%, Exports Up 44%

Mahindra & Mahindra Ltd.'s automobile production surged by 24.4% in in the second quarter of this financial year, according to an exchange filing on Thursday.

The company produced 99,758 units of vehicle during the quarter as compared to 80,179 units in the same period last year. The company sold 97,744 units in quarter ended September, 14% higher than 85,800 units sold in the same quarter of the previous fiscal. This includes the sale of 28,494 units of commercial vehicle as against 24,694 units last year.

M&M's total exports in the second quarter stood at 4,458 units, marking an uptick of 44% from 3,094 units exported in the same quarter last year. The company exported 1,918 units of commercial vehicles during the month under review, up 43.5% as against 1,337 units exported in quarter ended September 2024.

Among top models, the company's sales of Scorpio Diesel car stood at 17,182 units as compared to 13,469 units in the same period of the previous fiscal. This is followed by three-wheeler passenger vehicle Treo with the total sales for the period at 10,624 units.

In the second quarter Utility vehicle XUV3XO was the most exported model by the auto company.

The business update was shared after market hours. The stock settled 0.48% higher at Rs 3,442.90 apiece on the NSE, compared to a 0.54% advance in the benchmark Nifty 50. The shares earlier during the day rose as much as 1.42% to Rs 3,475 per share.

Mahindra & Mahindra's shares have risen 9.19% in the last 12 months and 11.71% year-to-date.

Out of 43 analysts tracking the company, 41 maintains a 'buy' rating and two recommend a 'hold', according to Bloomberg data. The average 12-month consensus price target of Rs 3,909.92 implies an upside of 13.6%.