Mahindra & Mahindra reported a five-fold increase in profits in the 4th quarter of 2021. This is due to the success of the Mahindra XUV700 and Thar.
Mahindra & Mahindra has many popular cars in the Indian market. This year it has started to attract more consumers. Now the company has announced a fivefold increase in personal income in its fourth quarter (ending March 31, 2022). This is 1192 million rupees. To explain the text, Mahindra and Mahindra earned ₹ 245 kroner a year ago. The dynamics of this profit can be attributed to various factors, but the success of new generation passenger cars, such as the Thar and XUV700, has played a role in this success.
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Mahindra May sales performance
In May 2022, Mahindra achieved great success. Its car sales increased by 236.13% over the year to 26,904 units. Most of them come from sales of 26,632 units of UV. This is obviously due to the high demand for the Mahindra XUV700 and Mahindra Thar. Both SUVs broke all records, the first selling 1 varnish in just 4 months. The waiting period for SUVs will last until 2024! Even Tar manages a waiting period of several months and is sold like hot cakes.
Vijay Nakra, President of Mahindra Automotive, said: “In May, all of our brands, such as the XUV700 and Thar, performed well and continued to grow. We are witnessing strong orders and have a reliable pipeline. We have announced the launch of Scorpio-N, which has generated a very high level of interest and promises to be another blockbuster from Mahindra. ”
According to the company, it earned Rs 4,935 crore (from Rs 984 crore for the fiscal year ended 31 March 2021). Compared to March 2020-21, revenue increased by 28% (to 17,124 million rupees) (13,356 million rupees). Most of the revenue can be attributed to the improvement of semiconductor supply in the 4th quarter. The last fiscal year also saw a significant increase in auto exports (annual growth of 77%).
Mahindra & Mahindra found that Rs 55,300 crore (29% higher than the previous year) for 22 FY2 had the highest self-revenue for the automotive and farm segments. Although the automotive business delivered the highest quarterly UV (work vehicle) volumes in the 4th quarter (42% annual growth), the share of the agricultural equipment sector (FES) tractor market for 22 FYs reached 40% (annual growth 1, 8%). ). Farm exports also reached 17,500 tractors (an increase of 66%, the highest in 22 fiscal years).
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Overall, the success of Mahindra & Mahindra is impressive, especially if you take into account the ongoing Kovid pandemic, semiconductor shortages, commodity prices and the conflict in Ukraine. Along with the automotive and farm segment, Mahindra & Mahindra was №1 in terms of market share in the SUV market in the 4th quarter and the second half of the 22nd fiscal year. This can easily be attributed to the high demand for the Mahindra XUV700 and Thar. Of course, traditional hot-sellers such as Bolero and Scorpio also played a role. In general, the demand for the portfolio of automotive products remains strong with more than 170 thousand orders.