Mahindra & Mahindra Limited has informed the Exchange about Transcript
M&M · price
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M&M filed the transcript of its Q4 FY25 earnings call held on May 5, 2025. SUV volumes grew 20%, beating the mid-to-high teens guidance, with market share up 210 basis points to 22.5%. Auto margins rose 110 bps and Farm margins climbed 210 bps to 18.4%, with farm market share reaching a record 43.3%. Mahindra Finance standalone profit crossed INR 2,300 crore for the first time, up 33% YoY, with asset quality strong (GS3 below 4%). Tech Mahindra profits grew over 80% YoY. The company took INR 654 crore in write-offs related to category B businesses MAM-Mitsubishi (Japan) and Sampo (Finland), now being restructured. Management disclosed growth gem targets of $2-3 billion valuation each by FY30, announced a new auto platform vision for August 15, 2025, and reported strong cash generation of ~INR 10,000 crore for the year (cumulative INR 28,000 crore). EV bookings remain heavily skewed to top-end Pack 3 (>75%), with 6,300 vehicles delivered in 40 days.
The detailed transcript reinforces a positive outlook with broad-based margin improvement, strong cash generation, and credible multi-year growth targets across core and growth gem businesses. Shareholders can view the write-offs as one-time cleanup of non-core international operations, with management's FY30 growth gem valuation targets and capacity expansion plans providing longer-term upside visibility.