M&M’s Q2 results 2023 get thumbs up from analysts

There is a very great M&M strong Quarter 2 results. The Q2 results of M&M have gotten thumbs up from the analysts. The M&M automotive segment is expected to register good growth in some upcoming years. There is a segment of series of launches that is underway right now in several categories as it is supporting the growth of the farm Equipment segment. This has been officially claimed by the analysts. The revenue growth of the company has seen growth since the quarter ended September 2023 as it was officially driven by volume growth of 11% year-on-year whereas on the other hand, the Average Selling prices (ASP) were grown by 5% year-on-year. Now in this article, we are going to suggest whether should you buy M&M stock to not.

Q2

According to the source, the Mahindra & Mahindra (M&M) shares were traded flat on 13th November 2023, Monday after the auto major official gave a report in which there were very decent earnings for quarter 2 of FY24. M&M has registered a 66.9% year-on-year growth as there is a net profit of Rs. 3,451.88 crore the revenue from the operations in Q2FY24 has officially risen 15.7% to rs. 24,309.89 crore. The revenue growth of the company at the time of the quarter which ended in September 2023 is driven by the volume growth of 11% year-on-year as the Average Selling Prices have been raised by 5% year-on-year.

The automotive segment of the company has recorded a healthy double-digit growth during the time of the festive season when the farm equipment segment performance of the company has remained muted as the revenue fell to 0.4% year-on-year. According to the analyst’s reports, their reports have mentioned their view on the company on the back of great earning growth and the valuation of M&M shares. To know what brokerages have said, scroll down to the next paragraph of this article.

Also Read:  Siemens Energy weighs sale of stake in Indian-listed firm

The first brokerage, Motilal Oswal Financial Services has said that the outlook for the tractors remains stable situation but they are expecting the Auto business to be the main growth factor for some upcoming years. Then LKP Securities said that they are expecting a good SUV run so that it can continue as the semiconductor issue. Choice Broking has said that as the chip storage and some other supply chains are currently easing off the companies are going to expand their capacity. Prabhudas Lilladher has said the standalone numbers are completely mixed in the performance missing the revenue as it is on the margin lines.

Prakash Israni
Prakash Israni

Prakash, the content creator for Techballad, has built a solid reputation for himself over the course of more than ten years of blogging