Basic HTML Version
50
MOTORINDIA
l
July 2012
cles, registering a growth of 19.5 per
cent in F12. The company continued
its dominant position with a market
share of 55.1 per cent.
In the cars segment, the company
sold 17,839 Verito units, register-
ing a robust growth of 78.2 per cent
over the previous year, with a mar-
ket share of 9.5 per cent. It exported
29,176 vehicles during the year as
against 17,138 vehicles in F2011,
registering a growth of 70.2 per cent.
SAARC, South America and South
African markets extended healthy
support to the company products.
For the third consecutive year,
the company was the single larg-
est tractor company in the world
by volume, with sales of 2,36,666
units against 2,14,325 units sold last
year, up 10.4 per cent. This includes
domestic sales of 2,22,944 tractors
against 2,02,513 tractors sold last
year. With 41.4 per cent market
share in the domestic tractor mar-
ket, the company celebrated its 29
th
consecutive year of domestic mar-
ket leadership. Also, its exports dur-
ing the year grew by 16.2 per cent
to 13,722 tractors as compared to
11,812 tractors exported in the pre-
vious year.
The Board of Directors has rec-
ommended a dividend of Rs. 12.50
(250 per cent) per share of face value
Rs. 5 which will absorb Rs. 868.61
crores, inclusive of tax, against the
previous year’s Rs. 11.50 per share
of Rs. 802.64 crores, inclusive of
tax.
The consolidated gross revenues
and other income for the year ended
March 31, 2012 grew by 58.9 per
cent to Rs. 63,357.8 crores ($13.3
billion) from Rs. 39,864.4 crores
($8.3 billion) in the last year. The
consolidated profit for the year after
exceptional items and after deduct-
ing minority interests is Rs. 3,126.7
crores ($654.5 million) as compared
to Rs. 3,079.7 crores ($644.7 mil-
lion) earned in the previous year – a
growth of 1.5 per cent. The com-
mendable growth in group revenues
during the year is due to the inclu-
sion of the turnover of Ssangyong
Motor Company Ltd. during the
year. The sluggish growth in group
profits is also to some extent due to
the inclusion of Ssangyong results.
Excluding Ssangyong, the growth in
consolidated gross revenues is 28.1
per cent and that in profits 14.5 per
cent.
During the year, some of the ma-
jor group companies like Mahindra
Finance, Mahindra Lifespace De-
velopers and Mahindra Forgings
significantly improved their per-
formance over the previous year.
The performance of Mahindra Fi-
nance with a 43 per cent growth in
consolidated revenues and a 30 per
cent increase in profits and that of
Mahindra Forgings with a 27 per
cent growth in consolidated rev-
enues and a 12.8 times profit growth
deserve special mention.
With global risks escalating and
continued weakness in the domestic
macro environment, the near-term
outlook for the economy is quite
challenging. However, with its con-
tinuous focus on new product in-
troduction, process innovation and
cost control, the company expects to
meet this challenge with a projected
pick-up in the second half of 2012-
13.
w
vehicle zone
The group at the end of the year com-
prised 114 subsidiaries, six joint ven-
tures and 11 associates. A full sum-
mation of gross revenues and other
income of all the group companies
taken together for the whole year is
Rs. 73,556.8 crores ($15.4 billion).