Mahindra & Mahindra will hold a meeting of the Board of Directors of the Company on 16 May 2024Powered by Capital Market - Live News

Mahindra & Mahindra  has received a record 674 patents in FY24, the most of any Indian 4-wheeler automobile/farm equipment manufacturer. This is a 380% increase in the number of patents issued to M&M over FY23.The company said, M&M is constantly pushing the boundaries of innovation by investing in research and the use of cutting-edge technology. Our strategy of prioritizing R&D has helped us to come up with futuristic automotive brands with world-class features. We firmly believe that by staying at the forefront of technology, we can deliver the loftiest expectations of our customers. So far, we have been conferred 1185 patents across multiple geographies, and we currently have 193 applications awaiting patent approval, as of 31st March 2024. Cumulatively, we have filed 2212 patent applications to date. The patent portfolio also includes fillings of M&M`s subsidiary, Mahindra Electric Automobile Ltd. In addition to our patents, we have also got 115 designs registered and 178 new applications filed. This record-breaking achievement is a testament to our cutting-edge research prowess.Powered by Capital Market - Live News

Mahindra & Mahindra`s farm equipment sector sold 37,039 tractors in month of April 2024 compared to 36,405 units in April 2023, recording a growth of 2%. Domestic tractors sales were at 35,805 units, higher by 1%. Exports rose 23% to 1,234 units over last year. Commenting on the performance, Hemant Sikka, President � Farm Equipment Sector, Mahindra & Mahindra Ltd. said �We have sold 35805 tractors in the domestic market during April 2024, a growth of 1% over last year. Government`s Wheat procurement operations are going on in full swing with good mandi arrivals, keeping the rural cash flows healthy. IMD`s forecast of above normal monsoon rains and festivals in the month of April have helped bring positivity in the rural sentiments. Terms of trade continue to stay positive and good cash flows from Rabi harvest are likely to boost tractor demand in the coming months. In the exports market, we have sold 1234 tractors a growth of 23% over last year.�Powered by Capital Market - Live News

Mahindra & Mahindra reported total sales of 70,471 units in month of April 2024 compared to 62,294 units in April 2023, recording a growth of 13%. Total sales includes domestic PV sales of 41,008 units (higher by 18%) and domestic CV and 3-wheeler sales of 27,606 units (higher by 7%). Exports rose 2% to 1857 units. Powered by Capital Market - Live News

Mahindra & Mahindra announced that the company currently operates in Mexico through various channels including the distributor channel wherein it continues to operate, sell and service its products including tractors and other farm machinery. The company`s sale of tractors in Mexico has increased by CAGR of 41% over the last 3 years ending FY 2023.The company, through its wholly owned subsidiary Mahindra USA Inc. (MUSA) has a step-down subsidiary Mahindra Mexico S. De. R. L. (Mahindra Mexico) which has been non-operating for over two years. As a part of the organisational structure simplification, Mahindra Mexico had filed for voluntary liquidation.MUSA has today intimated to the Company at 12.57 p.m. that the voluntary liquidation of Mahindra Mexico, has received final approval by the Members of Mahindra Mexico effective 28 March 2024. Consequent to the above, Mahindra Mexico has ceased to be a subsidiary of MUSA and that of the company with effect from 28 March 2024. Upon liquidation of Mahindra Mexico, MUSA is entitled to receive approximately MXN 3.8 million (equivalent to Rs 1.82 crore) as distribution towards 99.99% of shareholding held by MUSA in Mahindra Mexico.Powered by Capital Market - Live News