M&M drives into profit with Q4, lines up Rs 17K cr capex

MUMBAI: Home-grown farm equipment and utility vehicles major Mahindra & Mahindra Ltd (M&M) on Friday posted a consolidated profit-after-tax (PAT) from continuing operations at Rs 1,635 crore for the fourth quarter ended March 31, 2021.

The company had reported a consolidated net loss from continuing operations of Rs 588 crore in the same period of the last fiscal, M&M said.

The consolidated revenue from operations stood at Rs 21,456 crore during the January-March quarter under review as against Rs 16,315 crore in the corresponding period of the last fiscal, it added.

For the entire 2020-21 fiscal, the company reported a consolidated PAT of Rs 3,702 crore as compared with Rs 2,713 crore in 2019-20.

Revenue from operations stood at Rs 74,278 crore for the financial year, as against Rs 75,382 crore in 2019-20.

On a standalone basis, the automaker reported a PAT of Rs 48 crore for the fourth quarter ended march 31, 2021. The Mumbai-based firm had reported a net loss of Rs 2,502 crore in the March quarter of FY20.

Its revenue from operations during the quarter stood at Rs 13,512 crore as against Rs 9,144 crore in the same quarter of FY20.

Its board recommended a dividend of Rs 875 (175%) per share of the face value of Rs 5 each for FY21.

The company is planning to deploy Rs 17,000 crore over the next three years, including capex on new models and investments in group companies besides its auto and farm sector businesses.

The company plans to launch total 23 models in passenger vehicles segment and light commercial vehicles (LCV) category by 2026 and 37 models in the farm equipment vertical.