M&M Investor Presentation Handout

1
The following presentations is a compilation of individual presentations
made by
-Mr. V. S. Parthasarathy, Chief Financial Officer, Group CIO, EVP Group M&A,
Member of the Group Executive Board
-Mr. P. N. Shah, Chief Executive, Automotive Sector
-Mr. Rajesh Jejurikar, Chief Executive, Farm Equipment Sector
at Annual Analyst Meet held on 30
th
May, 2014
2
Theme
Green shoots
Hope
Performance amidst adversity
Standalone Financials
Consolidated Financials
Zero Trauma in Turbulence
Consistent Strong Financial Metrics
Value Creation
Milestone & Achievement
3
4
GDP Currency
2013 2012 2013 2012
Brazil 1.93 1.83 2.36 2.05
Russia 1.3 3.4 32.9 30.56
India 4.5 6.7 61.89 54.79
China 7.7 7.9 6.06 6.23
5
World economy outlook
2014 2015
World Output 3.6 3.9
USA 2.8 3.0
Euro Area 1.2 1.5
Brazil 1.8 2.7
Russia 1.3 2.3
India 5.4 6.4
China 7.5 7.3
Source: IMF world economic outlook April 2014
Recovery Strengthens, Remains Uneven
6
Stability in Indian environment
Exports showing traction
Rupee stable to strong
Rural economy as a driver
7
Glimmer of Hopes
Policy actions on FDI / Investments / GST etc. will it be fast tracked?
Financing Cost will reduce
Thrust on Infrastructure Investments
With emergence of stability, estimates of GDP (5.4%) may be bettered
The Return of Optimism
8
9
Mahindra
Tower
10
Mahindra
Tower
...in 10 business sectors...
Mahindra Partners (Steel,
Retail, Trade, Logistics, Boats,
Energy, Media)
Defence Systems
Automotive
Aftermarket
Financial Services
Hospitality
Systech
Information Technology
Real Estate
Farm Equipment
11
12
Life Insurance Corporation of India
First State Investments
Golboot Holdings Ltd (Goldman Sachs)
J P Morgan Group
Dodge & Cox
Capital Group
ICICI Prudential Life Insurance Ltd
Government of Singapore
Abu Dhabi Investment Authority
GIC, India
Top 10 Shareholders with > 1%
Shareholding Patternas on 31
st
March 2014
Promoter
and
Promoter
Group
25.3%
FII / NRI /
GDR
45.6%
Insurance
Cos.
14.3%
FI / MF /
Banks
1.5%
Individuals
13.3%
13
Industry Growth
Auto Industry in downward spiral
FY 14 FY 13 FY 12
Passenger Vehicle -6.1% 1.3% 4.7%
CVs -20.2% -2.0% 18.2%
3 Wheelers -10.9% 4.9% -2.4%
Industry (Excl. 2 Wheelers) -9.5% 1.7% 6.2%
Sharpest fall
since 1976
14
To stand against all adversity is the most sacred moment
of existence
15
Strong Growth Trajectory
Gross Revenue & Other Income
PAT
2,068
2,687
2,997
3,634
3,905
FY10 FY11 FY12 FY13 FY14
M&M + MVML (Standalone)
20,735
26,201
35,005
43,655 43,256
FY10 FY11 FY12 FY13 FY14
EBITDA
2,965
3,621
4,150
5,329
5,248
FY10 FY11 FY12 FY13 FY14
16
Strong Growth Trajectory
Gross Revenue & Other Income
PAT after MI
2,479
3,080 3,127
4,099
4,667
FY10 FY11 FY12 FY13 FY14
Consolidated Accounts
33,790
39,864
63,358
74,361
78,736
FY10 FY11 FY12 FY13 FY14
EBITDA
5,015
5,449
6,245
7,449
7,843
FY10 FY11 FY12 FY13 FY14
17
Generating robust EPS growth
Note: Adjusted for Bonus & Stock-split
2.7
2.2
3.1
7.5
11.5
19.0
22.6
23.1
15.9
38.0
46.6
51.0
61.6
66.2
2001 2004 2007 2010 2014
18
Our businesses are leaders in
their industries
19
XUV 5OO Quanto Xylo Scorpio
Thar Bolero Verito
Rexton
In UV Segment, Q4
Market Share @ 43.3%
20
21
22
Mahindra Holidays &
Resorts India Limited
23
24
25
26
Financials Snapshots
27
Mahindra Trucks & Buses
(MTBL)
De-merger Rationale
Operational efficiency
Financial benefits
Quarterly Performance M&M + MVML Snapshot
Total Income
EBIDTA
PAT 976
1,400
10,137
Q4 FY 14 Q4 FY 13
10,085
1,435
963
1.3%
2.4%
0.5%
Without MTBL
Merger
OPM 13.98% 14.38%
28
Quarterly Performance M&M + MVML Snapshot
Total Income
EBIDTA
PAT 976
1,400
10,137
Q4 FY 14 Q4 FY 13
10,085
1,435
963
1.3%
2.4%
0.5%
0.5%
26.1%
2.4%
Without MTBL
Merger
OPM 13.98% 14.38%
968
1,060
10,322
Q4 FY 14
With MTBL
10.38%
29
Yearly Performance M&M + MVML Snapshot
Total Income
EBIDTA
PAT 3,913
5,588
39,297
FY 14 FY 13
38,926
5,329
3,634
7.7%
4.9%
1.0%
Without MTBL
Merger
OPM 14.47% 13.89%
30
Yearly Performance M&M + MVML Snapshot
Total Income
EBIDTA
PAT 3,913
5,588
39,297
FY 14 FY 13
38,926
5,329
3,634
7.4%
1.5%
1.4%
Without MTBL
Merger
OPM 14.47% 13.89%
3,905
5,248
39,482
FY 14
With MTBL
13.52%
31
Performance Indicators
Particulars F 2014 F 2013
OPM (%) 13.52 13.89
ROCE (%) 22.16 26.77
Interest Coverage Ratio (x) 14.91 16.08
Debt / Service Ratio (x) 5.67 6.63
EPS (Basic) (Rs.) 66.15 61.63
Book Value (Rs.) 293.26 254.85
32
33 Copyright 2013 Mahindra & Mahindra Ltd. All rights reserved. 33
F-2014
Consolidated Result
Rs. 5,154 crs
Rs. 4,129 crs
25%
Financial Highlights
Total income
Rs. 78,736 crs
Rs. 74,361 crs
6%
M&M Consolidated FY 14 vs. FY 13
Rs. 7,843 crs
Rs. 7,449 crs
5%
EBIDTA
PAT before MI
34
Rs crs
Subsidiary Company Results
# includes share in profits of Associates
F 2014 F 2013
% Inc/
(Dec)
Net Revenue 40,249 35,813 9%
PAT before MI # 1,457 754 93%
PAT after MI # 972 596 63%
35
Listed companies continues to perform
F14 Rs.954 crs
F13 Rs.927 crs
F14 Rs 101 crs
F13 Rs 141 crs
F14 Rs.3,029 crs
F13 Rs.1,956 crs
F14 Rs.87 crs
F13 Rs.91 crs
36
Other unlisted companies growing in strength..
Last 5 years PAT. CAGR
Mahindra Rural Housing Finance 92%
Mahindra Insurance 40%
Mahindra South Africa 80%
Mahindra Engineering Service 11%
Mahindra World City Jaipur 32%
37
2281
2878 2934
3563
0
500
1000
1500
2000
2500
3000
3500
4000
2010 2011 2012 2013
Q1 CY 14 Performance
Revenue 14.5%
Operating loss reduced by 95.5% and
a net current profit of 10.7 billion won
SYMC continues upward journey
Revenue Billion won
38
Consolidated Segment Report
39
41798
44875
35000
37000
39000
41000
43000
45000
47000
2330
2358
1000
1500
2000
2500
13825
16884
10000
11000
12000
13000
14000
15000
16000
17000
18000
1828
2480
1000
1500
2000
2500
3000
Farm Equipment
4117
5306
3000
4000
5000
6000
1284
1461
500
1000
1500
2000
Segment Revenue
Segment Result
Automotive
FY13 FY14
FY13 FY14
Financial Service
FY13 FY14
FY13 FY14
FY13 FY14 FY13
FY14
7% 22%
29%
1% 36% 14%
40
727
817
500
1000
141
121
50
100
150
754
722
200
500
800
243
161
100
200
300
IDS
1423
1298
500
1000
1500
88
95
50
70
90
110
Hospitality
FY13 FY14 FY13 FY14
Steel Trading
FY13
FY14
FY13 FY14 FY13 FY14 FY13
FY14
12%
-4% -9%
-15% -34% 8%
Segment Revenue
Segment Result
41
2851
3208
2000
2500
3000
3500
-295
-502
100
200
300
400
500
600
Others
FY13 FY14
FY13 FY14
-70%
13%
Segment Revenue
Segment Result
42
Segment Revenue
Segment Result
-44
-27
10
40
70
100
4994
3812
2000
3000
4000
5000
6000
Systech
FY13 FY14
FY13 FY14
-24%
40%
222
30
-50
0
50
100
150
200
250
FY13 FY14
1494
292
200
500
800
1100
1400
IT Services
FY13 FY14
-80%
-86%
43
Segment Revenue
Segment Result
-50
0
50
100
150
200
250
-44
-27
10
40
70
100
1494
292
200
500
800
1100
1400
4994
3812
2000
3000
4000
5000
6000
Systech
FY14
FY14
IT Services
FY13
FY13
FY14 FY13
FY13
FY14
-24% -80%
40% -86%
14608
19123
12000
14000
16000
18000
20000
4994
5169
3000
3500
4000
4500
5000
5500
FY14
-44
-34
10
110
Systech
FY13
FY13 FY14
2702
3692
2300
2800
3300
3800
IT Services
FY13
FY14
FY13
FY14
4%
23% 37%
31%
44
Zero Trauma in Turbulence
Achieving Zero Trauma
45
30.9
28.1
23.3
24.7 23.6
25.5
20.3
15.7
17.6
17.2
10
15
20
25
30
35
40
2010 2011 2012 2013 2014
M&M + MVML M&M Consolidated
Healthy ROE
46
0.28
0.32
0.37
0.30 0.45
0.01
0.09
0.17
0.19
0.09
0.41
0.43
0.51 0.51
0.70
(0.25)
(0.05)
0.15
0.35
0.55
0.75
2014 2013 2012 2011 2010
M&M + MVML M&M + MVML (Net) M&M Consolidated
minimal leverage despite huge investments
Debt Equity Ratio
47
India Ratings
& Research
A Fitch Group Company
Top notch Credit Rating.
48
0.45
0.32
0.37
0.30
0.28
F 2010 F 2011 F 2012 F 2013 F 2014
DE Ratio
M&M + MVML
1.12
0.82
0.98
0.76
0.83
F 2010 F 2011 F 2012 F 2013 F 2014
Gearing Multiple
M&M + MVML
Robust Financial Risk Profile
49
50
51
Unlocking Shareholders Value Since 2005
Corporate Actions
Bonus Issue FY 2005
1:1
Stock Split FY 2011 1:2
Original Investment Cost Vs. CMP
31
st
March 2014 31
st
March 2013
Cost Market Value Cost
Market
Value
Listed Companies
Subsidiaries 2,735 15,029 2,994 11,090
Associates 651 11,178 649 6,592
Total 3,386 26,207 3,644 17,683
Rs crs
52
Recent
Value
Unlocking
53
Merger of MES with Tech Mahindra @ swap Ratio of 12:5
M&Ms investment value of Rs. 60 crs in MES is valued at Rs. 633 crs
Mahindra Engineering
Services (MES)
54
Mahindra Logistic
(MLL)
Divestment in MLL : Stake sale + PE Infusion
Investment of Rs. 200 crore for a significant minority stake from Kedaara
Capital.
55
Mahindra CIE Deal
Mahindra CIE Deal
Per Share CMP
Investment in Mahindra CIE Rs. 81 Rs. 106.7
Investment in CIE Spain 6 9.19
56
3.8
9.8
46.7
0.00 5.00 10.00 15.00 20.00 25.00 30.00 35.00 40.00 45.00 50.00
Gold
Sensex
M&M
Last 5 years
5.1
2.3
1.4
Note: Adjusted for Bonus & Stock-split
Ex Dividend price
Last 11 years
39.5
7.3
3.8
Last 21 years
As at 31
st
March 2014
Delivering consistent, long term value
$/Oz
57
IT 6x
40x
7x
4x
No.1 in Auto
Enhancing shareholders value best among all
Last 11 years
Banking
36x
Mfg. 27x
Pharma
45x
58
Global Leadership Framework
Leadership
Global Presence
Financial Returns
Innovation
59
Global Leadership Framework
Leadership
Global Presence
Financial Returns
Innovation
60
Finance and Accounts Milestones
50 Years Unsecured
NCD with bullet
payment
CIE
Strategic
Alliance
61
Clean sweep for M&M Group with Eight awards at the Fourth Annual CFO 100 Awards 2014
Finance and Accounts Awards
62
"No stars gleam as brightly as those which
glisten in the polar sky. No water tastes so
sweet as that which springs amid the desert
sand. And no faith is so precious as that which
lives and triumphs through adversity
- Charles H Spurgeon
63
Automotive Sector
64
Year of Prolonged Industry Slowdown
Industry down 9.6% (excl. 2W)
PU & 2W : only segments with growth
MHCV : lowest since F09
PV : lowest since F10
65
The Year that was Auto Industry
-14.0%
-6.9% -8.5% -9.6%
-20%
-10%
0%
10%
20%
30%
40%
1
9
7
4
-
7
5
1
9
7
5
-
7
6
1
9
7
6
-
7
7
1
9
7
7
-
7
8
1
9
7
8
-
7
9
1
9
7
9
-
8
0
1
9
8
0
-
8
1
1
9
8
1
-
8
2
1
9
8
2
-
8
3
1
9
8
3
-
8
4
1
9
8
4
-
8
5
1
9
8
5
-
8
6
1
9
8
6
-
8
7
1
9
8
7
-
8
8
1
9
8
8
-
8
9
1
9
8
9
-
9
0
1
9
9
0
-
9
1
1
9
9
1
-
9
2
1
9
9
2
-
9
3
1
9
9
3
-
9
4
1
9
9
4
-
9
5
1
9
9
5
-
9
6
1
9
9
6
-
9
7
1
9
9
7
-
9
8
1
9
9
8
-
9
9
1
9
9
9
-
0
0
2
0
0
0
-
0
1
2
0
0
1
-
0
2
2
0
0
2
-
0
3
2
0
0
3
-
0
4
2
0
0
4
-
0
5
2
0
0
5
-
0
6
2
0
0
6
-
0
7
2
0
0
7
-
0
8
2
0
0
8
-
0
9
2
0
0
9
-
1
0
2
0
1
0
-
1
1
2
0
1
1
-
1
2
2
0
1
2
-
1
3
2
0
1
3
-
1
4
Indian Auto Industry (excluding 2W)
Worst since 1976
Source: SIAM
66
The Year that was Auto Industry
Auto (total) and Personal Vehicle Industry
273
315
364
554
526
F10 F11 F12 F13 F14
Utility Vehicles Sales 000s
1,528
1,973 2,031
1,895
1,786
F10 F11 F12 F13 F14
Passenger Car Sales 000s
3996
3613
F13 F14
Auto Industry Sales (excld. 2W) 000s
Source: SIAM 67
The Year that was Auto Industry
Commercial Vehicle Industry
76
82
110
190 193
F10 F11 F12 F13 F14
LCV 2 to 3.5 T Sales 000s
137
191
251 247
167
F10 F11 F12 F13 F14
LCV < 2T Sales 000s
245
323
349
268
200
F10 F11 F12 F13 F14
MHCVs Sales 000s
440
526
513
538
480
F10 F11 F12 F13 F14
3W Sales 000s
Source: SIAM 68
26%
55%
51%
F
1
2
-
Q
1
F
1
2
-
Q
2
F
1
2
-
Q
3
F
1
2
-
Q
4
F
1
3
-
Q
1
F
1
3
-
Q
2
F
1
3
-
Q
3
F
1
3
-
Q
4
F
1
4
-
Q
1
F
1
4
-
Q
2
F
1
4
-
Q
3
F
1
4
-
Q
4
Increased MNC focus on UV Space
33%
34%
56%
58%
58%
39%
14%
21%
F
1
1
-
Q
1
F
1
1
-
Q
2
F
1
1
-
Q
3
F
1
1
-
Q
4
F
1
2
-
Q
1
F
1
2
-
Q
2
F
1
2
-
Q
3
F
1
2
-
Q
4
F
1
3
-
Q
1
F
1
3
-
Q
2
F
1
3
-
Q
3
F
1
3
-
Q
4
F
1
4
-
Q
1
F
1
4
-
Q
2
F
1
4
-
Q
3
F
1
4
-
Q
4
UV1: <4400mm, UV2: 4400 4700mm
Share of UV1 & UV 2
Change in Dynamics in UV segment
UV1% of Total UV
UV2 % of Total UV
UV % of PV
Share of MNCs in the UV segment
Source: SIAM
69
5.8%
7.5%
8.6%
9.2%
9.3%
18.5%
Company 4
Company 2
Company 3
Company 1
Industry
M&M
Commercial Vehicles
CAGR F04-14
Among top 5 manufacturers
F04-F14: M&M vs Industry
3.6%
9.6%
10.7%
11.3%
13.9%
20.0%
Company 4
Company 3
Industry
Company 2
M&M
Company 1
Passenger Vehicles
CAGR F04-14
Among top 5 manufacturers
Source: SIAM
M&M among the growth leaders over a decade
70
F14 F14
Actual Actual
UV Total 525,942 -5.0% 219,421 -16.9% 41.7% 47.7%
Cars (Verito) 346,524 31.1% 9,734 -36.6% 2.8% 5.8%
MPV Total 190,844 -19.6% 25,189 -19.9% 13.2% 13.2%
LCV < 2T 166,974 -32.5% 29,223 -26.8% 17.5% 16.1%
2T > LCV < 3.5T 192,911 1.3% 123,175 19.7% 63.9% 54.0%
3W Total 479,634 -10.9% 62,614 -4.4% 13.1% 12.2%
AD (Dom.) Total 1,902,829 -6.3% 469,356 -9.6% 24.7% 25.5%
LCV > 3.5 T Total 72,226 -16.7% 5,876 -34.2% 8.1% 10.3%
MHCV (Goods) 88,123 -24.2% 2,285 -23.2% 2.6% 2.6%
AS (Dom.) Total 2,063,178 -7.7% 477,517 -10.1% 23.1% 23.8%
Non Participating Segments - 0.0% - 0.0% 0.0% 0.0%
MHCV Passenger 38,709 -17.5%
MCV Goods 73,795 -30.1%
Cars (Excl. Super Compact) 1,440,375 -10.5%
AS (Dom.) Total 3,616,057 -9.5% 477,517 -10.1% 13.2% 13.3%
Segment
Industry M&M M&M Mkt. Share
Growth Growth CY PY
F14 Domestic Market Performance
71
Bolero No.1 SUV 8 years in a row
5
th
highest selling Passenger Vehicle
in India
Crosses 100,000 mark 3 years in a
row
72
Undisputed King in Pickup segment
Bolero Pick-up and BMT sells
staggering 120,000+
Y-o-Y growth >25%
Market Share of 64%
73
The Trimurti continues to Outperform
Sells 279000+ in FY 14. Y-o-Y growth at 5.6%
74
UV and Pick-Up Market Performance
Consistent Gain in PU Share
47.8%
46.0%
39.9%
38.2%
43.2%
30%
32%
34%
36%
38%
40%
42%
44%
46%
48%
50%
Q4 F13 Q1 F14 Q2 F14 Q3 F14 Q4 F14
UV Mkt. Share
50.4%
58.0%
58.8%
65.8%
72.2%
30%
35%
40%
45%
50%
55%
60%
65%
70%
75%
Q4 F13 Q1 F14 Q2 F14 Q3 F14 Q4 F14
Pik-Up Mkt. Share
41.7%
(F14)
63.9%
(F14)
75
13,025 13,229
10,957
12,242
14,521
4,000
6,000
8,000
10,000
12,000
14,000
16,000
Q4 F13 Q1 F14 Q2 F14 Q3 F14 Q4 F14
Scorpio Volume
10,380
5,774
6,429
7,879
9,925
4,000
6,000
8,000
10,000
12,000
14,000
16,000
Q4 F13 Q1 F14 Q2 F14 Q3 F14 Q4 F14
XUV Volume
Scorpio Gaining & XUV recovery
Scorpio posts highest volumes since launch
76
Market F14
Nepal + Bangladesh 87.1%
Peru 77%
Tunisia 69%
F14 Exports Performance
18,19
0
12,83
0
H1 F13 H1 F14
H1 F14
Growth Markets
14,26
6
16,82
9
H2 F13 H2 F14
H2 F14
Recovery in H2
32,45
6
29,65
9
F13 F14
F14
18%
29%
9%
77
F14 Performance Trucks & Buses
Weak performance due to prolonged Industry slowdown
116,18
9
88,123
F13 F14
HCV Industry
2,977
2,285
F13 F14
HCV M&M
80,816
67,834
F13 F14
LCV (Load+Pass) Industry
8,925
5,876
F13 F14
LCV (Load+Pass) M&M
78
Product Launches
Verito Vibe Bolero Pick Up Refresh
Bolero Maxi Truck Plus Xylo H Series
79
Among the leaders in Customer Satisfaction
JD Power CSI 2013
Highest ever score. Rank 4
Most improved brand over last 3 years Highest ever score. Rank 3
JD Power SSI 2013
Source: JD Power
80
All round improvement in Product quality
140
161
200
110
117 117
163
62
Scorpio Xylo Bolero Verito
J.D. Power IQS Score - 2013
2012 2013
Improvement more than 20% across Product range
Better
81
Strengthening Brand in India
Live Young, Live Free campaign 13 Mn+ FB fans, largest auto community on Facebook in
India
INRC SUV Champion of 2014 winning 4 out of 5 rounds
Indias first and only Off-Road Training Academy at
Igatpuri
82
Building brand in International markets
Top 6 Diesel Pickup Brands in Chile
Most improved SUV brand in South Africa
Scorpio Pikup: Best Budget Bakkie in South Africa
Strong brand equity in SAARC markets
277,000+ Facebook fans
83
Creating buzz at the 12
th
Delhi AutoExpo
AutoSHIFT technology in Quanto Hybrid XUV
Electric Sports Car - Halo 84
1200+ Primary Showrooms, 1500+ Secondary Showrooms
1400+ Primary Workshops, 1000+ Secondary Workshops
Enhanced Reach
Covering
70%+
Districts
Leveraging Technology & Innovation across every touch points
85
Strengthened position in the heartlands of India
Rural contributing to 24% of total sales
Shift of focus from District to Tehsils
Focusing on special target groups like Grape & Onion farmers in
Nashik, fishermen in Kerala etc.
Extensive tie-ups with Mahindra Finance, PSU Banks, RRBs & NBFCs
Leveraging synergy with Farm Sector and 1100+ Mahindra Finance
outlets
86
Super XUV 500 wins 12
th
edition of
Desert Storm
National Energy Conservation Award
ADs Nasik Plant bagged the Elite Excellence
Kaizen Award by CII.
Mahindra e2o wins the Green Car
of the Year Award at the Top Gear
Malayalam Awards
Awards & Accolades
8 Abbys won for Mahindra Autos Digital
Work
CII ITC Sustainability Award
Driven by Gaurav Gill, the Super XUV500 dominated the Indian National Rally Championship
(INRC) by being the fastest vehicle in 4 out of 5 INRC rallies.
Mahindra e2o was conferred the S.M.A.R.T Award at the Overdrive CNBC TV18 Awards
recently
XUV500 wins buzzy brand award at the Pitch Brands 50 awards 2013
Mahindra Automotive Sector wins the Dun & Bradstreet Corporate Award
87
F14 Financials Overview (AD+MVML)
26,489
24,434
F13 F14
Segment Revenue (crs)
3,118
2,770
F13 F14
Segment Result (crs)
(11.2)%
88
F14 Financials Overview AD+MVML+MTB
26,489
24,633
F13 F14
Segment Revenue (crs)
3,118
2,346
F13 F14
Segment Result (crs)
(11.2)%
F13 figures are AD+MVML
F14 figures are AD+MVML+MTB
89
May 2013
Mahindra Farm Equipment
Mahindra Farm Equipment
90
77312
64515
79217
146261
135970
245849
240195
215377
176404
226867
264271
318293
302241
303921
400203
480377
535210
525970
633656
(F73-F82)
CAGR:
14.7%
(F86-F92)
CAGR: 12%
CAGR:
10.4%
(F94-F00)
CAGR: 13.6%
(F04-F14)
Domestic Industry: Robust Growth
91
Domestic Industry: F14
In tractors
10 year CAGR: 13.6 %
527384
633656
F13 F14
20.2%
92
Increase in MSP
Good monsoon
Labor shortage
Availability of finance
Growth Drivers
93
No. 1 Tractor Company in
the World*
*M&M Ltd. is the largest tractor
company in the world by volume
94
Mahindra completes 31
years of Domestic Market
Leadership
95
Mahindra Domestic Volumes: F14
Volumes in tractors
Market Share grew by 0.5% to reach 40.6%
212555
258339
F13 F14
21.5%
96
Mahindra Exports Volumes: F14
Volumes in tractors
12289
10364
F13 F14
-15.7%
Inclusive of CKD nos. in F14
97
International Operations: F14
98
Implements Business: F14
120
232
F13 F14
Revenue in Crs
8,545
F13 F14
Rotary Tiller Volumes
93%
95%
16, 688
99
Customer Centricity
Product portfolio
Quality focus
Macro-micro marketing strategy
Operational excellence: Manufacturing, Cost
Drivers of Success
100
Operational Excellence:
Manufacturing
Zaheerabads
smooth ramp up
101
Financial Performance: F14
Rs. Cr.
11,990
14,334
F13 F14
19.6 %
Segment Revenue
Rs. Cr.
1858
2453
F13 F14
32 %
Segment Result
15.5%
17.1%
F13 F14
1.6 % points
Segment Result %
102
Stability in Volatility
0.6%
31.7%
20.0%
11.4%
-1.5%
20.2%
25.1%
46.9%
21.7%
10.1%
-4.7%
21.5%
11.0%
18.9%
17.5%
15.7% 15.5%
17.1%
F09 F10 F11 F12 F13 F14
Ind Grwth
FES Grwth
PBIT %
103
F15 Industry Outlook
104
Copyright 2012 Mahindra & Mahindra Ltd. All rights reserved. 105
Micro Irrigation
(EPC Industri
ltd.)
Fresh Produce
(Mahindra
Shubhlabh
Services ltd.)
Grapes
Banana
Apple
Citrus
Mahindra Univeg ltd.
Crop Care
Seeds
Seed Potato
Samriddhi
Drip & Sprinklers
Agri Pumps
Greenhouse
Agri Inputs &
Advisory
(M&M ltd.)
6X revenue in last 3 years
106
Disclaimer
Mahindra & Mahindra herein referred to as M&M, and its subsidiary companies provide a wide array of presentations and reports, with the contributions of various professionals.
These presentations and reports are for informational purposes and private circulation only and do not constitute an offer to buy or sell any securities mentioned therein. They do
not purport to be a complete description of the markets conditions or developments referred to in the material. While utmost care has been taken in preparing the above, we claim
no responsibility for their accuracy. We shall not be liable for any direct or indirect losses arising from the use thereof and the viewers are requested to use the information
contained herein at their own risk. These presentations and reports should not be reproduced, re-circulated, published in any media, website or otherwise, in any form or manner,
in part or as a whole, without the express consent in writing of M&M or its subsidiaries. Any unauthorized use, disclosure or public dissemination of information contained herein is
prohibited. Unless specifically noted, M&M or any of its subsidiary companies is not responsible for the content of these presentations and/or the opinions of the presenters.
Individual situations and local practices and standards may vary, so viewers and others utilizing information contained within a presentation are free to adopt differing standards
and approaches as they see fit. You may not repackage or sell the presentation. Products and names mentioned in materials or presentations are the property of their respective
owners and the mention of them does not constitute an endorsement by M&M or its subsidiary companies. Information contained in a presentation hosted or promoted by M&M is
provided as is without warranty of any kind, either expressed or implied, including any warranty of merchantability or fitness for a particular purpose. M&M or its subsidiary
companies assume no liability or responsibility for the contents of a presentation or the opinions expressed by the presenters. All expressions of opinion are subject to change
without notice.
Copyright 2012 Mahindra & Mahindra Ltd. All rights reserved.
Thank you
Visit us at www.mahindra.com
107