Mahindra & Mahindra on a consolidated basis, the company has reported a 34.89% rise in its net profit at Rs 2,762.19 crore for the fourth quarter ended March 31, 2023, as compared to Rs 2.047.75 crore for the same quarter in the previous year. The net sales of the company increased by 24.80% to Rs 32,365.60 crore in Q4FY23 as compared to Rs 25,934.40 crore in the same quarter last year and sequentially rose by 5.70%.
In FY23, on a consolidated basis, the total income of the company increased by 21% to Rs 91,208.21 crore as compared to Rs 75,376.24 crore for the previous year. Board recommended a Final Dividend of Rs 16.25 per equity share i.e.,325% of a face value of Rs 5 each.
Mahindra & Mahindra Limited (M&M) was established on October 2, 1945, when K.C. Mahindra visited the United States of America as Chairman of the India Supply Mission. The Mahindra brothers joined hands with a distinguished gentleman called Ghulam Mohammed. Mahindra & Mohammed was set up as a franchise for assembling jeeps from Willys, USA. M&M is mainly involved in automobile manufacturing. It is one of the leading auto companies in India.
Mahindra & Mahindra is currently trading at Rs 1,325.95, up by 44.10 points or 3.44% from its previous closing of Rs 1,281.85 on the BSE. The scrip opened at Rs 1,312.05 and has touched a high and low of Rs 1,350 and Rs 1,300, respectively. So far 1,24,639 shares were traded on the counter.
The BSE group ‘A’ stock of face value Rs 5 has touched a 52-week high of Rs 1396.00 on 16-Feb-2023 and a 52-week low of Rs 914.85 on 26-May-2022. The current market cap of the company is Rs 1,64,891.92 crore. The promoters holding in the company stood at 19.37%, while Institutions and Non-Institutions held 66.96% and 13.66% respectively.