Mahindra & Mahindra - Focus On Scaling Up The Core Businesses: Nirmal Bang

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Nirmal Bang Report.We recently hosted the management of Mahindra and Mahindra Ltd., as part of the two-day investor conference. The management highlighted the steps taken by the company in the last few years towards value creation. M&M has exited several loss-making ventures and has successfully turned around others. Initially, the management had targeted earnings per share growth of 15-20% and return on equity of 18% for FY23. It ended up achieving remarkable revenue growth of 34% in FY23, exceeding its guided range of 15- 20%. Over the past two years, M&M has also expanded its market share in farm segment by 3%. Furthermore, its farm machinery segment clocked strong growth of 38% in FY23. The company holds a dominant market position in the sports utility vehicle and light commercial vehicle segments, with market share of 19% and 45%, respectively. In the EV segment, M&M has started delivering XUV400; commercial production for its XUV will commence from December 2024 and the battery electric vehicle range will come to the market by April 2025-end. In the internal combustion engine segment, the company has no plans for new launches, but will focus on expanding production capacity and reducing existing order backlogs. Looking ahead, the management sees significant growth opportunities in the farm machinery segment as well, with an expected growth rate of 40%. It also plans to expand its international business by 1.6 times by FY26-end. We estimate 12% compound annual growth rate in revenue over FY23-FY25. .Click on the attachment to read the full report:.Landmark Cars - Beneficiary Of Domestic Car Premiumisation: ICICI Securities Initiates Coverage.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Mahindra & Mahindra - Focus On Scaling Up The Core Businesses: Nirmal Bang

The management sees significant growth opportunities in the farm machinery segment, with an expected growth rate of 40%.

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Mahindra & Mahindra - Focus On Scaling Up The Core Businesses: Nirmal Bang

The management sees significant growth opportunities in the farm machinery segment, with an expected growth rate of 40%.

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