Aug 12, 2013, 06.29 PM IST
Operating profit margin of Mahindra and Mahindra (M&M) may soar 120 bps Y-o-Y to 13 percent during the quarter due to higher mix of the tractor segment in the overall product mix (tractors account for 36.5 percent of volume, increased of 550 bps Y-o-Y).
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M&M Q1 standalone PAT may rise 20% to Rs 870 cr
Operating profit margin of Mahindra and Mahindra (M&M) may soar 120 bps Y-o-Y to 13 percent during the quarter due to higher mix of the tractor segment in the overall product mix (tractors account for 36.5 percent of volume, increased of 550 bps Y-o-Y).
Like this story, share it with millions of investors on M3
M&M Q1 standalone PAT may rise 20% to Rs 870 cr
Operating profit margin of Mahindra and Mahindra (M&M) may soar 120 bps Y-o-Y to 13 percent during the quarter due to higher mix of the tractor segment in the overall product mix (tractors account for 36.5 percent of volume, increased of 550 bps Y-o-Y).
Revenues may increase 9.5 percent to Rs 10,264 crore in June quarter from Rs 9,367.3 crore in a year ago period, driven by 7 percent volume increase and increase in average realizations.
Earnings before interest, tax, depreciation & amortisation (EBITDA) are likely to increase 19.5 percent on yearly basis to Rs 1,326 crore.
Also Read - M&M Q1 PAT seen up 17% at Rs 907.5 cr: Motilal Oswal
Operating profit margin may soar 120 bps Y-o-Y to 13 percent during the quarter due to higher mix of the tractor segment in the overall product mix (tractors account for 36.5 percent of volume, increased of 550 bps Y-o-Y).
Volume growth during the quarter will be led by strong tractor volume (up 25 percent Y-o-Y) and steady ramp up of pick-ups while utility vehicle (UV) volumes have witnessed a marginal volume decline in first quarter (for the first time in many quarters).
Favorable shift in mix towards more profitable tractor business (around 600 bps higher EBIT margins than auto) will boost EBITDA and profits during the quarter.
Raw material cost was stable in the quarter while net realisation per vehicle went up 5 percent Y-o-Y to 5.39 lakh per unit as against 5.14 lakh per unit.
Volume growth Q1FY14
Total volumes rose by 7 percent Y-o-Y at 1.94 lakh units from 1.82 lakh units.
Auto sales fell by 1.8 percent year-on-year to 1.20 lakh units while tractor sales increased by 25.2 percent Y-o-Y to 74,577 from 59,578 units.
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