Mahindra aims to roll out 1.2 lakh more vehicles a year from new Chakan platform

Mahindra & Mahindra on Monday announced a new platform capacity of 1.2 lakh per annum in Maharashtra’s Chakan, while announcing its Q4 results. The capacity for the XUV3XO and Thar Roxx in F26 has been increased by 3,000 units.

M&M said more on the same will be announced on August 15.

The company is also planning a new greenfield plant for SUVs for FY28 and beyond.

Mahindra reported a smaller-than-expected fourth-quarter profit on Monday, weighed down by a one-time charge and higher production costs for rolling out its new range of electric vehicles.

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The ‘Scorpio’ SUV manufacturer’s profit rose 22% to 24.37 billion rupees ($290 million) in the January-March quarter but fell short of analysts’ expectation of 25.23 billion rupees, per data compiled by LSEG.Mahindra is India’s top SUV maker by revenue and leads sales of tractors in the country. During the quarter, SUV sales were up 18%, while those of tractors increased 23%.While higher farm incomes have boosted tractor sales in recent months, a large order book for Mahindra’s newer SUVs, the ‘XUV 3X0’, and the five-door version of its popular ‘Thar’ has helped the company clock industry-leading growth.

During the quarter, Mahindra recorded a one-time charge of 6.45 billion rupees related to the international operations of its tractor business. The company did not share any further details.

Revenue from Mahindra’s automotive business – its biggest segment that accounts for nearly three-fourths of overall revenue – rose 25% to 24.98 billion rupees. The business includes the sale of SUVs as well as small and large trucks and buses.

The smaller, but more profitable farm business, which includes tractors that are cheaper to manufacture, clocked revenue growth of 23% and pre-tax profit growth of 51%.

Overall revenue rose 25% to 313.53 billion rupees, topping analysts’ expectations of 301.38 billion rupees.

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