Watch Anand Mahindra, Chairman, Mahindra Group, speak at the annual general meeting held on August 6, 2021.

The Board of Directors of Mahindra & Mahindra Limited (M&M Ltd.) approved the financial results for the quarter ended 30 June 2021 of the Company and the consolidated Mahindra Group.

Key highlights below:

Here’s what our leaders had to say about the 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.”

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 the upcoming launch of our most anticipated product, XUV700, we plan to ride on the festive season with strong volume growth aided by a rebound in the Indian economy. However, commodity inflation and semi-conductor supply issues continue to be of concern.”

Manoj Bhat, Group Chief Financial Officer, M&M Ltd., said, “Our capital allocation actions delivered resilient financial results, despite significant headwinds of the pandemic and high commodity price inflation.”