M&M tractor segment market share touches 41.8% in Q1FY22, highest in the last 8 quarters

Farm Equipment Segment Revenue of Rs 5,319 crores and PBIT of Rs 1,081 crores
• The tractor industry witnessed strong demand growth (39%) during the quarter. The growth in company’s volume (48%) led to highest domestic market share in 8 quarters (41.8%)
• The Farm Business delivered excellent performance with highest ever first quarter PBIT and ROCE.

FES Market Share at 41.8%; highest in last 8 quarters

Commenting on Q1 FY22 performance …

Dr. Anish Shah, Managing Director & CEO, M&M Ltd,said, “Our focus on operational efficiency and financial discipline gives us the confidence that our core performance will continue. Our Farm business delivered yet another exemplary quarter result, while our auto business showed demand recovery. Our growth gems are seeing good momentum and we will continue our stringent focus on fiscal discipline.”

Mr. Rajesh Jejurikar, Executive Director, M&M Ltd, said, “We have embarked on the journey of bold, aggressive growth with a good start in Q1 FY2022. FES continued to deliver robust performance both in terms of market share and financial metrics. The demand for our key automotive products also remains strong. With upcoming launch of our most anticipated product XUV700, we plan to ride on the festive season with strong volume growth aided by rebound in Indian economy. However, commodity inflation and semiconductor supply issues continue to be of concern.”