Mahindra & Mahindra (M&M) has deferred its planned capex of around Rs 1,000 crore by a year, owing to the slowdown in the automobile industry.
The company that recently underwent a plant shut-down exercise to adjust production also said that if sales do not pick up in the festive season, it may have to undertake the exercise again in October.
M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.
