M&M pips Tata Motors to become 2nd most valuable auto company in India

Mahindra & Mahindra (M&M) on Friday became the second most valuable auto company in India, surpassing Tata Motors.

M&M's market capitalisation surged to Rs 3,65,193 crore compared to Tata Motors' market cap of Rs 3,29,041 crore. The stock managed to surpass Tata Motors as it witnessed a 3% surge in price, reaching a fresh 52-week high of Rs 2,946.

The multibagger counter witnessed a strong rally over the last 12 months, rising by 112%. So far in 2024, its return stands at an impressive 72%, outperforming not only its sectoral index but also the broader Nifty50.


The Nifty auto index has surged by over 75% in the last 1-year and gained 38% on a year-to-date basis.

The company which boasts of SUVs like ScorpioN, Bolero, and Thar, reported a net profit of Rs 2,038 crore for the fourth quarter ended March 2024.
This was an increase of 32% year-on-year (YoY) from Rs 1,549 crore in the last year quarter. Revenue from operations in the reporting period rose 11% YoY to Rs 25,109 crore, compared with Rs 22,571 crore in the corresponding period of last year.

EBITDA for the March quarter jumped 22% YoY to Rs 3,446 crore against Rs 2,831 crore in the last year quarter. For the auto segment, the fourth quarter volumes increased to 21.5 lakh, with the highest-ever utility volumes at 1.26 lakh. The company currently has open bookings of SUVs at 2.2 lakh.