The Board of Directors of Mahindra & Mahindra Limited approved the financial results for the quarter and half year that ended September 30, 2022, of the company and the consolidated Mahindra Group.

Highlights of the financial results

• Highest ever quarterly revenue and PAT for M&M standalone
• M&M operating margin at 12.0%
• Exports for both vehicles and tractors remains strong

Automotive

• M&M remains market leader in SUVs for 3 consecutive quarters (revenue market share)
• LCV 2-3.5T: Achieved 60% market share in Q2 F23 (uptick of 10.8% YoY)
• E-3Ws: Achieved highest ever quarterly billing of 10,625 units

Farm equipment

• H1 market share at 41.5%: Uptick of 0.5% YoY
• 2nd highest Q2 domestic volumes (88k tractors)
• Highest Q2 exports (4.6k tractors)