Mahindra & Mahindra's Q1 Farm Machinery registers revenue of INR 181 Crore, Up by 24%

11 Aug, 2023

Mahindra & Mahindra’s Farm Machinery unit has been performing excellently since its inception. The recent Q1 results proved this once again. The unit bagged an astonishing revenue of INR 181 Crore.

This exceptional milestone stands as a testament to our commitment to excellence, strategic prowess, and the unwavering support of our valued stakeholders. While Mahindra & Mahindra grows in every operational domain, we’re going to talk about its Farm Machinery in this blog.

So, let’s take you on a journey of Mahindra & Mahindra’s success. 

Key Highlights 

As the Q1 results are out, it shows that the Farm Equipment body of Mahindra & Mahindra set new highs with 

#1 spot in India’s Farm equipment domain 

#2 in Rotavator market 

- Market share of farm equipment at 42.9%

- Farm machinery revenue of INR 181 crore 

- Consolidated PAT INR 1,198 crore 

Reaching Heights Making Records- This is Mahindra & Mahindra  

Mahindra & Mahindra is a renowned tractor manufacturer in India and across the globe. Its tractors are best known for best-of-breed technologies, high-end fuel efficiency, and great transmission.

This is why tractors and farm equipment always remain the first choice of farmers and the Q1 sales results confirm it. 

Recently, the company released the Q1 results and its performance is astonishing. According to the report:

- The Farm Equipment unit of M&M managed to bag the 2nd highest quarterly volume of all time in Q1 FY 24 with sales of 114 K units. 

- The revenue of the Farm machinery unit touched the mark of INR 181 crore, which is 24 % high as compared to Q1 23.  

- Recorded Rotavators Market Share of 23.5 % at No.2 position, which is a great number for sure. 

- The standalone PBIT of the company was recorded as INR 1,303 cr. As compared to FY 23, this is 16%. The PBIT margin of Q1 FY 24 is 17.5%, up 160 bps. 

- The consolidated PAT is INR 1,198 Crore, an astonishing high of 21%, as compared to Q1 FY 23. 

- The consolidated revenue of the company remained INR 9,710 Crore, which is 9% up as compared to Q1 FY 23.

Speaking on the phenomenal performance of the company,  Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), M&M Ltd, said:“ Our endeavour to deliver innovative product offerings with strong execution has enabled a strong overall performance. In SUVs, we continue to be leaders in revenue market share for the sixth consecutive quarter with SUV volume crossing the one lakh milestone. In the tractor business, we have achieved 42.9% market share, the highest since Q2 F20. Our E-3W business continued market leadership with 65.5% market share.”

More is Yet to Come 

Q1 is over. But, the success journey of Mahindra & Mahindra is still going on as the company is taking many other initiatives that will take this sale to all-new highs. With the release of the Q1 result, the company also announced the global launch of Mahindra Oja, the inventive and lightweight tractor series of the company, on August 15, 2023. 

According to confirmed sources, this series is likely to feature 40 models of various categories like sub-compact tractors, small utility tractors, large utility tractors, and compact tractors. These tractors will have multiple HP ranges.  

The global launch is likely to feature only seven models. As this tractor series is anticipated to be one of the most inventive ones, we’ve no qualms to admit that this launch will boost-up the sales of Mahindra & Mahindra.

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