Mahindra & Mahindra Ltd.

Mahindra & Mahindra (M&M) has revised upward the capital expenditure (capex) outlay for the three years cycle of FY22-FY24 to Rs 15,900 crore from Rs 15,075 crore. 

Of the Rs 15,900 crore revised capex for FY22-FY24 cycle, an additional Rs 1,600 crore will go into the ICE (Internal Combustion Engine) vehicles for the anticipated regulatory changes and capacity expansion while an additional Rs 1,125 crore for the electric vehicle segment to produce vehicles with changing requirements. Another Rs 500 crore has been earmarked for auto and farm investments.

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.