Profit before tax (PBT) increased 1.94% to Rs 3,406.22 crore in Q1 FY25 as compared with Rs 3,341.35 crore in Q1 FY24.

M&M sold 2,11,550 units in Q1 FY25 (Includes 22,982 vol sold by separate entity “MLMML”, which was demerged from Sep’23 onwards. Revenue in standalone results do not include realisation from these volumes) recording growth of 14% as compared with Rs 16,138 units sold in corresponding quarter last year. Total tractors stood at Rs 120,492, up 5% year on year.

On consolidated basis, the company’s net profit declined 6.44% to Rs 3,282.63 crore during the quarter as compared with Rs 3,508.41 crore posted in corresponding quarter last year. Revenue from operations jumped 10% YoY to Rs 37,218 crore in Q1 FY25.

The company’s revenue from automotive segment was at Rs 19,776 crore (up 16% YoY) while revenue Farm Equipment sector (FES) remained flat at Rs 9,711 crore.

Dr. Anish Shah, managing director & CEO, M&M, said, “We have started the F25 fiscal year with strong operating performance across all our businesses. Capitalising on leadership positions, Auto and Farm continued to expand market share and profit margins. Transformation at MMFSL is yielding results as asset quality improves and transformation at TechM has commenced with margins as a key focus. With this momentum and relentless drive towards execution, we will continue to ‘deliver scale’ in F25.”

Rajesh Jejurikar, executive director & CEO (Auto and Farm Sector), M&M, said, “In Q1 F25, we gained market share in both Auto & Farm businesses. We achieved highest ever quarterly tractor volumes and also improved our Core Tractors PBIT margin by 110 bps YoY. We retained market leadership in SUVs with 21.6% revenue market share and in LCVs < 3.5T, we crossed 50.9% volume market share. Auto Standalone PBIT grew by 39% with margin improvement of 180 bps YoY.”

Amarjyoti Barua, group chief financial officer, M&M, said, “We delivered robust margin expansion across our businesses through focussed execution. We continue to meet our external commitments. We have also commenced on our capital investment plans in line with what we communicated in May’24.”

M&M Group enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India. It is the world's largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.

The scrip rose 0.29% to Rs 2,929.90 on the BSE.