MAHINDRA & MAHINDRA LTD
 |
| ANAND MAHINDRA MD & CEO |
RESULTS FOR Q2 FY
2013
SEP.2012
MAHINDRA & MAHINDRA
LTD has announced results for the quarter ending Sep,2012.
UN-AUDITED STAND
ALONE
FINANCIAL RESULTS
(M&M)
The Stand alone Results are presented
in the Table below along with QoQ difference (Percentage) and YoY difference
(Percentage). Net Profit has gone up by 24.28 % QoQ and 22.3% YoY.
Net Sales have gone up 4.45% QoQ and
33.34% YoY.
M&M
|
QE Sep12
|
QE Jun12
|
%DIF QoQ
|
QE Sep 11
|
%DIF YoY
|
Gross Sales
|
1041470
|
993650
|
4.81
|
785146
|
32.65
|
Less ED
|
75550
|
68856
|
9.72
|
60716
|
24.43
|
Net Sales
|
965920
|
924794
|
4.45
|
724430
|
33.34
|
OtherOptgIncome
|
15376
|
11945
|
28.72
|
11206
|
37.21
|
Total Income
|
981296
|
936739
|
4.76
|
735636
|
33.39
|
Expenses
|
|||||
MaterialsCost
|
528507
|
479072
|
10.32
|
469665
|
12.53
|
PurchaseOf SIT
|
253780
|
227104
|
11.75
|
89938
|
182.17
|
Incr.Of F,SIT,WIP
|
-46853
|
-2641
|
-25468
|
83.97
|
|
Employee Exp
|
47430
|
45160
|
5.03
|
42340
|
12.02
|
Depreciation
|
17839
|
15484
|
15.21
|
12571
|
41.91
|
Other Exp
|
86540
|
77101
|
12.24
|
70863
|
22.12
|
Total Exp
|
887243
|
841280
|
5.46
|
659909
|
34.45
|
Profit from Operations
|
94053
|
95459
|
-1.47
|
75727
|
24.2
|
Other Income
|
32289
|
5985
|
439.5
|
24844
|
29.97
|
Profti Bef.Fin Costs
|
126342
|
101444
|
24.54
|
100571
|
25.62
|
Finance Costs
|
4747
|
4602
|
3.15
|
3078
|
54.22
|
Profit Bef. Tax
|
121595
|
96842
|
25.56
|
97493
|
24.72
|
Provision For Tax
|
31415
|
24278
|
29.4
|
23755
|
32.25
|
Net Profit
|
90180
|
72564
|
24.28
|
73738
|
22.3
|
Paid-up Equity
|
29496
|
29467
|
0.1
|
29397
|
0.34
|
Reserves
|
|||||
BasicEPS
|
15.3
|
12.32
|
24.19
|
12.55
|
21.91
|
Dil.EPS
|
14.69
|
11.82
|
24.28
|
12.01
|
22.31
|
UNAUDITED COMBINED
FINANCIAL RESULTS OF
M&M
M&M
|
Q2 FY13 AMT
|
%of Net sales
|
Q2 FY12
|
%of Net Sales
|
Gross Sales
|
10460.72
|
113.06
|
7987.37
|
109.46
|
Less:ED
|
1208.14
|
13.06
|
690.42
|
9.46
|
Total Income
|
9252.58
|
100
|
7296.95
|
100
|
Material Costs
|
6570.69
|
71.01
|
5157.44
|
70.68
|
Empl. Costs
|
506.99
|
5.48
|
446.15
|
6.11
|
Depreciation
|
204.46
|
2.21
|
147.73
|
2.02
|
Other Exp
|
895.2
|
9.68
|
732.97
|
10.05
|
Total Exp
|
8177.34
|
88.38
|
6484.29
|
88.86
|
OPT
|
1075.24
|
11.62
|
812.66
|
11.14
|
Other Income
|
326.03
|
3.52
|
248.44
|
3.4
|
Fin.Costs
|
74.08
|
0.8
|
59.67
|
0.82
|
P.B.T.
|
1327.19
|
14.34
|
1001.43
|
13.72
|
Prov. For Tax
|
349.1
|
3.77
|
239.91
|
3.28
|
Net Profit
|
978.09
|
10.57
|
761.52
|
10.44
|
Mahindra
Vehicle Manufacturers Limited (MVML), located at Chakan near Pune, was set up
as a 100% subsidiary of the company with a view to sourcing contemporary products
for expanding the market offerings of the company. Hence it is a critical part
of its business and only the combined results of the company and MVML can provide
a comprehensive view of company’s performance.
Q2
FY 2013 – M&M + MVML results
The
Gross Revenues and Other Income of Mahindra & Mahindra Ltd. and MVML (Entity)
for the quarter ended 30th September 2012 is Rs. 10786.7 crore as against Rs.
8235.8 crore during the corresponding period last year – a growth of 31.0%.
The
Net Profit before tax for the current quarter is Rs. 1327.2 crore as against
Rs.1001.4 crore in Q2 previous year. After providing for tax the same is
Rs.978.1 crore against Rs. 761.5 crores in Q2 last year - a growth of 28.4%.
The
operating margin of the Entity for the current quarter is 13.8%.
The
growth in the profit despite the relentless increase in material costs is due
to good volume performance by Automotive Sector and tight control on expenses.
In
the Passenger Utility Vehicle segment, the Entity sold 62751 vehicles in the current
quarter - a growth of 32% over the numbers sold in Q2 last year. In the quarter
the entity launched the all new compact and versatile SUV Quanto to strengthen
its portfolio in the UV segment. Quanto generated 5000 bookings in just the
first three weeks of its launch. The Entity continued its leadership position
with a market share of 45.4%. In the Cars segment, the Entity sold 4899 Verito
Cars. The Entity also exported 10349 Vehicles in Q2 F2013 registering a growth
of 43.0% over 7239 vehicles exported in Q2 last year.
The
domestic tractor industry, in the wake of a below normal monsoon, witnessed a 12%
de-growth in sales in Q2. In this period, the Entity sold 47065 tractors in the
domestic market as compared to 54585 tractors in Q2 last year, with a domestic market
share of 40.3%. The Entity exported 3043 tractors in the quarter and its Engine
business revenue grew by 11.1% to Rs 231.3 crore in the same period.
Q2
F2013 – M&M Standalone results
The
Gross Revenues and Other Income of Mahindra & Mahindra Ltd. for the quarter
ended 30th September 2012 is Rs. 10891.4 crore as against Rs. 8212.0 crore during
the corresponding period last year – a growth of 32.6%. The Net Profit after
tax for the quarter is Rs. 901.8 crore as against Rs. 737.4 crore in the same period
last year – a growth of 22.3%.
H1 FY 2013
– M&M + MVML Results
The
Gross Revenues and other income of the entity during the half year ended 30th
September 2012 is Rs.20790.6 crore as against Rs.15635.8 crore in the corresponding
period previous year – a growth of 33.0%. The Profit after tax for the current
H1 is Rs 1756.6 crore as against Rs 1379.8 crores in H1 previous year – a
growth of 27.3%. The operating margin of the Entity for the first half of the year
is 13.9%.
H1 FY 2013
– M&M Standalone Results
The
Gross Revenues and other income of Mahindra & Mahindra Ltd. during the half
year ended 30th September 2012 is Rs.21007.2 crore as against Rs.15530.6 crore in
the corresponding period previous year – a growth of 35.3%. The Profit after tax
for the current H1 is Rs 1627.4 crore as against Rs 1342.3 crores in H1 previous
year – a growth of 21.2%.
Group
Consolidated Results
The
Board meeting to approve the Q2 F2013 accounts of Tech Mahindra is being held
in early Nov 2012. After the approval and announcement of Tech Mahindra results,
the company will separately release the information on Consolidated Group
Outlook:
Tight
macroeconomic and political constraints at home and worries about a second global
recession have taken a heavy toll on the Indian economy which grew by only 5.5%
in Q1 F2013. Also while the manufacturing activity stagnated and the country’s
fiscal and current account deficits worsened considerably in the first half of
the year, inflation remained stubbornly high and is set to breach 8% in the coming
months. In a determined bid to stem the tide, the government, after a long hiatus,
has announced a slew of major reforms in September including a hike in diesel
prices, disinvestment plans for the current year and allowing FDI in multi brand
retail. While these measures have helped bolster business sentiment, and are a
clear positive for our longer term growth prospects, the risks facing the
economy over the shorter term, emanating from the possibility of a meltdown in
the Euro Zone and escalating tensions in Middle East, remain high. The current
economic situation is quite challenging. However, the company through its
continuous focus on new product introduction, process innovation and cost
control, expects to rise to this challenge adequately.
September 2012 volumes
compared to September 2011
Auto and Farm Equipment Sector
Ø UV sales grow by 25% for the month.
Ø Total M&M 4W sales up by 16% for the month.
Ø LCV & M&HCV sales (through MNAL) for the
month are up by 2%.
Ø Total domestic Auto sales for the month up by 10%.
Ø Total sales (domestic + exports) for the month up by
10%.
Ø Tractor sales for the month are down by (-20%)
Ø Tractor exports for the month are up by 1%
AUTO SECTOR
|
Sep-12
|
Sep-11
|
%YoY
|
||
Total Passenger Veh(Uvs+Verito)
|
23808
|
19447
|
22%
|
||
Total PickUp(Gil,Maxximo)
|
14417
|
13419
|
7%
|
||
Total4W-Auto Div.
|
38225
|
32866
|
16%
|
||
3WIN (Incl. Alpha)
|
6048
|
7302
|
-17%
|
||
Total Domes.Veh-Auto Div.
|
44273
|
40168
|
10%
|
||
LCVs,m&CHVs(3.5T&>)
|
990
|
968
|
2%
|
||
Total Dom.Veh-Auto
sector
|
45263
|
41136
|
10%
|
||
UV+3W Exports
|
3079
|
3001
|
3%
|
||
Total Veh(Dom+Exp)
|
48342
|
44137
|
10%
|
||
FarmEquip.Sector
|
Sep-12
|
Sep-11
|
%YoY
|
||
Domestic
|
18908
|
23508
|
-20%
|
||
Exports
|
1177
|
1165
|
1%
|
||
Total Tractors(Dom+Exp)
|
20085
|
24673
|
-19%
|
||
Mahindra
Group ::
Business Leadership
5
Ø Market leader in Utility Vehicles in India
Ø Market leader in Tractors in India.
Ø Number One global manufacturer (Single legal entity)
Ø Mahindra Finance : Leader in rural financingMahindra & Mahindra
Ø TechMahindra : Leader in Telecom Software
Ø Mahindra Holidays : Leader in ‘Time Share’
FORTHCOMING LAUNCHES
Products
:: Time Line
“Quanto”
Compact SUV :: September 20, 2012
Rexton
:: Q3 FY2013
REVA
– NXR :: Q3 FY2013
Verito
– Sub 4m :: Q4 FY2013
* *
* E N D *
* *
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