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M&M to incur capital expenditure of Rs 15,300 crore in auto, farm equipment, EV businesses

31 May 2022 Evaluate

Mahindra and Mahindra (M&M) has planned to incur a capital expenditure of Rs 15,300 crore in the auto, farm equipment, and electric vehicle (EV) businesses over 2022-24. Of this, it has already pumped in Rs 3,200 crore in FY22, while the remaining Rs 12,100 crore will be done during FY23 and FY24. This is significantly higher than the capex done by the company in the recent past.

Prior to FY21, it was pumping in Rs 3,000-4,000 crore annually. The pandemic, coupled with chip shortage, made the company defer the expenditure. M&M’s aim is to fortify its position in the SUV and tractor segments and enter the electric passenger vehicle business with the ‘born EV’ platform from 2025.

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.

Mahindra & Mahindra Share Price

3329.50 -41.00 (-1.22%)
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