Mahindra & Mahindra's expenditure on research and development (R&D) has grown nearly 30 times, while its revenue rose by 10 times in the last four years. The company is putting a significant amount of energy and money behind R&D, says company's top official.

Pawan Goenka, Managing Director, M&M, who was in Chennai to announce FISITA World Automotive Congress 2018, which he says is the Olympics of automotive technology in the world, said that companies must spend more and more in R&D to remain functional.

Auto major Mahindra & Mahindra today reported 2.92 per cent decline in total sales at 42,714 units in February. The company had sold 44,002 units in the same month last year, M&M statement said. In the domestic market, sales were down 2.26 per cent at 40,414 units last month compared to 41,348 units in February 2016, it added. Exports were down 13.33 per cent at 2,300 units in February against 2,654 units in the same month last year.

3QFY17 volumes increased ~2% y-o-y (+7% q-o-q), driven by growth of 22% y-o-y (+24% q-o-q) in tractors but 8% y-o-y decline in automobile sales. Realisations declined 2.5% q-o-q (-1% y-o-y) to R536k (est. of R530k). Net revenues grew 16% y-o-y to R101.7b

M&Ms volume growth moderated to 2% y-o-y (+7% q-o-q). The robust 22% y-o-y (+24% q-o-q) growth in tractors was partially offset by weak automobile sales that fell 8% y-o-y. The impact of demonetisation led to weaker automobile sales, while tractor growth too moderated in December.

Mahindra Aerostructures today said it has partnered with French firm Segnere SAS to collaborate on airframe manufacturing opportunities and expand capabilities for the global aerospace market. Mahindra Aerostructures, part of $17.8 billion Mahindra Group, operates a 25,000 sq mt manufacturing facility near Bengaluru.

The partnership with Segnere, which was announced at the 11th edition of the five-day biennial air show Aero India, supports Mahindra’s intent to expand its existing capabilities to produce hard-metal parts (titanium, inconel and aerospace steels) and then to collaborate on other technologies, the company said in a release.

That the Street was not happy with Mahindra & Mahindra Ltd’s performance for the December quarter was seen by its stock closing lower on Friday, when the benchmark BSE Sensex closed higher. In any case, the stock was beaten down badly by investors as auto sales volume crumbled in the last two months.

For the quarter, the auto division’s sales fell by 7.7% year on year. The hope that prices could compensate for the lower volume was also negated, as net revenue of the division slid by 8%, mirroring weak realizations during the quarter.

Mahindra and Mahindra (M&M), country’s largest utility vehicle manufacturer, on Friday reported a 33.29% y-o-y increase in its standalone net profit to R10,860.05 crore for the quarter ended December 31 as a result of an exceptional gain of R363.78 crore from the sale of investments in subsidiary companies.

The company had reported a net profit of R834.47 crore in the corresponding period last fiscal.

Mahindra & Mahindra (M&M) on Friday said that it has acquired a majority stake in Turkey-based farm equipment company Hisarlar Makina Sanayi ve Ticaret Anonim irketi (Hisarlar) for around $19 million (nearly R129 crore), thus foraying into the European nation. Under the transaction, which is expected to close by April 2017, M&M will acquire 75.1% stake in Hisarlar. “The association will help in growing the farm equipment business in Turkey and Europe,” M&M said in a statement.

Mahindra & Mahindra Ltd (M&M) has forayed into Turkey through the acquisition of 75.1 percent stake in Hisarlar Makina Sanayi ve Ticaret Anonim Sirketi - a farm equipment maker - for approximately $ 19 million (about Rs 130 crores). As part of the transaction, Darby Converging Europe Fund II will exit its investment. European Bank for Reconstruction & Development (18.7 percent) and the founder Turker family (6.2 percent) are the other stakeholder in the company.

It took long but automobile major M&M has brought its South Korean subsidiary, SsangYong, on the road to financial turnaround.

SsangYong, acquired by the Indian utility vehicle and tractor major for Rs 2,100 crore in 2010, has reported a net profit of 23 billion South Korean won (Rs 128 crore) during the nine months ended September — the first time since 2007. In 2015 (Jan-Dec), the loss was 61.9 billion won.

From January 2017, Mahindra will increase its passenger vehicle prices by upto Rs 26,500, while the small commercial vehicles prices will be increased by Rs 6,000. The lowest price hike on its passenger vehicle range will be of Rs 3,000. In addition to this, the prices of the small commercial vehicles ( Bolero Pick up,Jeeto and Supero etc) will also see a price hike up to Rs 6,000. The company has attributed the hike in prices to the rising cost of production. Due to this, various car manufacturers such as Toyota, Tata Motors, Nissan, Hyundai Motors and Mercedes Benz have decided to increase its prices from January 2017.

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