Mahindra & Mahindra’s Share Price in Red ThoughThar ROXX Breaks Records with 1.76 Lakh Bookings in 60 Minutes

Mahindra & Mahindra received 1.76 lakh bookings for the new model in just 60 minutes, marking the highest first-day bookings for any of its vehicles. 

The Thar ROXX is a 5-door SUV available in both petrol and diesel variants, with prices starting at ₹12.99 lakh. It offers manual and automatic transmission options, and deliveries are set to begin from Dussehra on October 12. In September, M&M reported a 24% year-on-year growth in SUV sales, reaching over 51,000 units, with exports rising by 25% to 3,027 units during the same period.

Financial Highlights

In Q1 results, the company’s revenue grew by 20.44%, and its profit increased by 38.74% compared to the same period last year. However, compared to the previous quarter, revenue was up slightly by 0.82%, while profit dropped by 25.76%. Selling, general, and administrative expenses rose by 5.63% quarter-on-quarter and by 5.94% year-on-year.

Operating income fell by 27.15% from the last quarter but saw a 45.19% increase year-on-year. The earnings per share (EPS) for Q1 is ₹7.39, showing a 13.7% rise from last year.

Mahindra & Mahindra Ltd. (M&M) reported total auto sales of 87,839 vehicles in September 2024, a 16% increase from 75,604 vehicles sold in the same month last year. M&M’s passenger vehicle (PV) sales in the domestic market reached 51,062 units, marking a 24% growth compared to 41,267 units in September 2023. In the utility vehicles segment, the company sold 52,590 units, including exports. Commercial vehicle (CV) sales rose by 6% year-on-year (YoY) to 33,750 units from 31,918 units.

M&M’s shares have surged over 11% in the past month and more than 80% year-to-date (YTD). Over the past year, the stock has doubled investors’ money with over 101% returns.

About Mahindra & Mahindra Ltd

Mahindra & Mahindra Ltd is one of India’s most diversified automobile companies, with a presence in various segments like 2-wheelers, 3-wheelers, passenger vehicles, commercial vehicles, tractors, and earthmovers. The company also operates in a wide range of industries through its subsidiaries and group companies. These include financial services, auto components, hospitality, infrastructure, retail, logistics, steel trading, IT, agriculture, aerospace, consulting, defence, energy, and industrial equipment.

On October 04, 2024, Mahindra & Mahindra Ltd’s share price opened at ₹3,127.05, touching the highest price of ₹3,157.60 as of 11:14 AM. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.