VS Parthasarathy, Group CFO, Mahindra & Mahindra believes that the Indian economy has not turned around completely yet.
In a bid to cash-in on the upcoming festive season, auto major, Mahindra & Mahindra will be launching new tractor and Scorpio. Speaking to CNBC-TV18 about the latest happenings in the company, Group CFO VS Parthasarathy says that M&M expects its market share in the utility vehicle (UV) segment to go rise gradually.
M&M, which launched ‘Scorpio Refresh’ this month, will be offering multiple products over next 12-15 months. The company also aims to unveil Ssangyong X100 in Q1CY15.
Recently, the company has secured ‘AAA’ rating from all the four major ratings agencies. The AAA rating from all agencies comes after 12 years, Parthasarathy adds.
Meanwhile, M &M reported 7.18 percent decline in total sales at 35,175 units in August . It had sold 37,897 units in the same month last year. M&M’s domestic sales went down by 5.72 percent to 33,145 units last month as against 35,159 units a year earlier. Sales of passenger vehicles, including Scorpio, XUV 500, Xylo, Bolero and Verito, stood at 14,140 units compared with 15,821 units in August 2013, down 10.62 percent.
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M&M stock price
On September 29, 2014, at 13:50 hrs Mahindra and Mahindra was quoting at Rs 1385.90, down Rs 7.75, or 0.56 percent. The 52-week high of the share was Rs 1421.00 and the 52-week low was Rs 815.50.
The company’s trailing 12-month (TTM) EPS was at Rs 59.61 per share as per the quarter ended June 2014. The stock’s price-to-earnings (P/E) ratio was 23.25. The latest book value of the company is Rs 270.60 per share. At current value, the price-to-book value of the company is 5.12.