Mahindra & Mahindra Scales Up Production Capacity Amid Profits Surge

Mahindra & Mahindra plans to increase their production capacity by 4,000 units per month for the five-door Thar model. The company aims for a total exit capacity of 64,000 units per month for the fiscal year, including electric vehicles. M&M reported a 20% year-on-year rise in net profit, hitting Rs 3,283 crore in Q1 of this fiscal year.

Home-grown auto major Mahindra & Mahindra announced plans to boost production capacity by an additional 4,000 units per month for the five-door version of Thar, Thar Roxx, anticipated to launch next month.

The company is aiming for a total exit capacity of 64,000 units per month for the current fiscal year, encompassing models like the XUV 3XO/400 and electric vehicles.

M&M reported a robust 20% year-on-year increase in net profit for the quarter ending June, standing at Rs 3,283 crore. The automotive segment’s profit after tax surged 35% year-on-year to Rs 1,330 crore, while consolidated revenue grew 16% to Rs 19,776 crore. Rajesh Jejurikar, Executive Director & CEO, confirmed the capacity expansion in a statement.