M&M shares rally to record high post strong Q4 show
The Mahindra Group company's revenue grew 28% to ₹17,124 crore in the period under review as compared with ₹13,356 crore in March quarter 2020-21
Shares of Mahindra & Mahindra (M&M) rose to record high of ₹1,006 apiece on the BSE in Monday's early deals after the automaker reported a five-fold jump in standalone profit at ₹1,192 crore for its fourth quarter that ended March 31, 2022.
The Mahindra Group company's revenue grew 28% to ₹17,124 crore in the period under review as compared with ₹13,356 crore in March quarter 2020-21.
M&M said it achieved the highest ever standalone revenue for auto and farm segments at ₹55,300 crore for FY22, which is 29% higher than previous year's.
It also said the company's auto business delivered highest ever quarterly UV (utility vehicle) volumes in Q4 with 42% year-on-year growth while Farm Equipment Sector (FES) tractors market share for FY22 stood at 40%.
The semiconductor supplies improved in Q4 resulting in highest ever quarterly UV volumes.
The auto stock has risen over 23% in a year's period whereas it is up about 20% in 2022 (YTD) so far as compared to a 5% fall in benchmark Sensex during the period.