PL Stock Update – MAHINDRA & MAHINDRA — Monthly volume performance - OCT-23

PL Stock Update – MAHINDRA & MAHINDRA — Monthly volume performance - OCT-23 – Himanshu Singh – Research Anlyst, Prabhudas Lilladher Pvt Ltd

MAHINDRA & MAHINDRA — Monthly volume performance - OCT-23

Utility Vehicles grew YoY by 35.6% to 43,708 units, and MoM by 5.9%

Total CV grew YoY by 22.6% to 25,715 units, and MoM by 7.2%

3Ws (including electric 3Ws) grew YoY by 85% to 9,402 units, and MoM by 18.7%

Total Exports grew YoY by 48.6% to 2,755 units, and MoM by 13.9%

Total Automotive grew YoY by 35.5% to 81,580 units, and MoM by 7.9%

Domestic tractor contracted YoY by -2.4% to 49,336 units, grew MoM by 17.4%

Total tractor contracted YoY by -3% to 50,460 units, grew MoM by 16.8%

UV mix in Automotive was flattish YoY by 6bps to 53.6%, contracted MoM by -101bps

Tractor mix in total volumes contracted YoY by -812bps to 38.2%, expanded MoM by 185bps