The Board of Directors of Mahindra & Mahindra Limited approved the financial results for the quarter that ended March 31, 2021, of the Company and the consolidated Mahindra Group.

Commenting on the FY21 performance, Dr Anish Shah, Managing Director & CEO, M&M Ltd., said, “Our associates deserve all the credit for an outstanding performance in a tough year. Our primary focus has been ‘people first’, keeping our associates and our communities safe. We have delivered our promise on capital allocation actions and have seen very positive results. We are now focused on growth across our core businesses, growth gems and digital platforms.”

Rajesh Jejurikar, Executive Director, M&M Ltd., said, “Our approach of ‘walk-run-fly’ has delivered strong financial returns in FY21. The strong margins and turnaround of global subsidiaries in FES, along with a robust automotive demand momentum through the focused SUV strategy, has set the ground for us to now accelerate to fly. New products and technologies, farm machinery opportunity, Krishe and cost management set us up for a bold, aggressive growth trajectory.”

Manoj Bhat, Chief Financial Officer, M&M Ltd., said: “Our journey towards our goals of streamlining capital allocation and delivering superior returns has begun well. We are delighted by the robust operating cash flow in a year which saw the impact of the pandemic as well as multiple supply-side challenges.”

Key highlights below

• Farm Equipment Sector revenue up 60 per cent in Q4FY21…with highest-ever fourth-quarter domestic volumes, PBIT and PBIT margins.
• Auto Sector revenue up 43 per cent in Q4FY21…with a strong booking pipeline for its key products. However, supply constraints limit production and sales.
• Strong operating performance for full year FY21…consolidated operating profit up 36 per cent at INR 4,610 crore.
• Announces a dividend of 175 per cent of face value (INR 8.75 per share) for FY21, which is a 3.7x F20 dividend. This is the highest-ever in the history of M&M, in light of the strong financial performance and to commemorate the 75th year of the Company.