M&M to counter COVID slump | Anish Shah of M&M To ET NOW
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Rural economy doing well; saw higher tractor sales in May 2020 vs May 2019. Tractors more or less back to pre-COVID level. For auto biz, it might take longer to recover. Grew market share by 1% last fiscal; expect to grow further this year. Gained market share in small CV biz too, continue to see good demand there too. Strength in large SUVs demonstrated over time. Will be looking at consolidating our strengths, which also included small CVs. Lessons from EV manufacturing also significant, EV market will take time to shape up in India. Whenever EV market picks up in India, M&M well positioned to tap on it. From 2002-18, Mahindra was among top performers on Nifty with 22% avg RoE. Losses in international ops mounted, though cash generation was still strong, EPS suffered. Made a clear path for all loss making subsidiaries. Auto & farm biz generated Rs 4,300 cr in FY20. Have been able to harness the value of investments made in key businesses. Aim to get back to 17-years' history & eliminate impact of last 2 years. Will look at every single biz with a fine scan, says Anish Shah. Listen in! Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3 Subscribe Now To Our Network Channels :- Times Now : http://goo.gl/U9ibPb The NewsHour Debate : http://goo.gl/LfNgFF To Stay Updated Download the Times Now App :- Android Google Play : https://goo.gl/zJhWjC Apple App Store : https://goo.gl/d7QBQZ Social Media Links :- Twitter - http://goo.gl/hA0vDt Facebook - http://goo.gl/5Lr4mC G+ - http://goo.gl/hYxrmj Website - www.etnownews.com
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