{"id":12595,"date":"2022-11-12T13:48:45","date_gmt":"2022-11-12T08:18:45","guid":{"rendered":"https:\/\/univest.in\/blogs\/?p=12595"},"modified":"2022-11-16T10:41:50","modified_gmt":"2022-11-16T05:11:50","slug":"mm-mahindra-mahindra-lic-of-india-and-ashok-leyland-q2fy23-results","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/mm-mahindra-mahindra-lic-of-india-and-ashok-leyland-q2fy23-results\/","title":{"rendered":"M&#038;M (Mahindra &#038; Mahindra), LIC of India, and Ashok Leyland Q2FY23 results"},"content":{"rendered":"<p>Results declared for M&amp;M (Mahindra &amp; Mahindra), LIC of India, and Ashok Leyland on 11th November 2022. Here are some of the key takeaways from the results.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/mm-mahindra-mahindra-lic-of-india-and-ashok-leyland-q2fy23-results\/#M_M_%E2%80%93_Reports_highest_quarterly_standalone_and_quarterly_revenue\" title=\"M&amp;M \u2013 Reports highest quarterly standalone and quarterly revenue\">M&amp;M \u2013 Reports highest quarterly standalone and quarterly revenue<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/mm-mahindra-mahindra-lic-of-india-and-ashok-leyland-q2fy23-results\/#Management_Speak\" title=\"Management Speak\">Management Speak<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/mm-mahindra-mahindra-lic-of-india-and-ashok-leyland-q2fy23-results\/#LIC_of_India_%E2%80%93_Profits_rise_multifold_this_quarter\" title=\"LIC of India \u2013 Profits rise multifold this quarter\">LIC of India \u2013 Profits rise multifold this quarter<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/mm-mahindra-mahindra-lic-of-india-and-ashok-leyland-q2fy23-results\/#Ashok_Leyland_%E2%80%93_Robust_demands_drives_massive_profit_growth\" title=\"Ashok Leyland \u2013 Robust demands drives massive profit growth\">Ashok Leyland \u2013 Robust demands drives massive profit growth<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/mm-mahindra-mahindra-lic-of-india-and-ashok-leyland-q2fy23-results\/#Management_Speak-2\" title=\"Management Speak\">Management Speak<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/mm-mahindra-mahindra-lic-of-india-and-ashok-leyland-q2fy23-results\/#ABOUT_THE_AUTHOR\" title=\"ABOUT THE AUTHOR\">ABOUT THE AUTHOR<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"M_M_%E2%80%93_Reports_highest_quarterly_standalone_and_quarterly_revenue\"><\/span>M&amp;M \u2013 Reports highest quarterly standalone and quarterly revenue<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><span data-preserver-spaces=\"true\">M&amp;M\u2019s standalone revenues in Q2FY23 stood at Rs 20,839 crore, up 57% on a YoY basis.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">M&amp;M\u2019s consolidated revenues in Q2FY23 stood at Rs 29,870 crore up 39% on a YoY basis.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">The vertical FES (farm equipment sector) achieved the highest Q2 volume.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">M&amp;M reported a profit after tax of\u00a0Rs 2,090 crore, up 46% YoY from\u00a0Rs 1,433 crore a year earlier.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Total vehicles sold were 75% higher from a year ago to 174,098 units, while it had open bookings for more than 260,000 SUVs.<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Management_Speak\"><\/span>Management Speak<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Dr. Anish Shah, Managing Director &amp; CEO, of M&amp;M Ltd, said,\u00a0\u201c Our robust financial results reflect the progress we have made on our strategic imperatives. While the auto segment has led growth, we have seen steady performance across our group companies. Our journey of creating value and providing growth capital continued through the Susten-OTPP transaction and the BII transaction.\u201d<\/p>\n<p>Mr. Rajesh Jejurikar, Executive Director, M&amp;M Ltd, said,\u00a0\u201cIt has been an action-packed quarter with multiple product launches and new products across segments, in addition to partnership announcements with BII and Volkswagen. We recorded our highest quarterly revenue for the Auto and Farm segments. In SUVs, we continue to be the Revenue market share leader. Festive sales have been strong this year across the Auto and Farm sectors. With the unveiling of the XUV4OO and our Born Electric Vision, we enter the Electric SUV segment and aim to establish a leadership position in the future.\u201c<\/p>\n<p style=\"text-align: right;\"><em>You may also like:<\/em> <a href=\"https:\/\/univest.in\/blogs\/tech-mahindra-and-sun-pharmaceuticals-results-declared\/\"><em>Tech Mahindra and Sun Pharmaceuticals results declared<\/em><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"LIC_of_India_%E2%80%93_Profits_rise_multifold_this_quarter\"><\/span>LIC of India \u2013 Profits rise multifold this quarter<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><span data-preserver-spaces=\"true\">LIC reported a net profit of Rs 15,952 crore for Q2FY23, a manifold increase from Rs 1,433 crore in Q2FY22.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">First-year premium, an indication of business growth, came in at Rs 9,124.7 crore for Q2FY23 as compared to Rs 8198.30 crore in Q2FY22.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Single premium increased sharply by 62% YoY to Rs 66,901 crore in Q2FY23.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Net premium income was Rs 1.32 lakh crore in Q2FY23, compared with Rs 1.04 lakh crore in Q2FY22.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">LIC settled claims to the tune of Rs 84,269.04. crore during Q2FY23.<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Ashok_Leyland_%E2%80%93_Robust_demands_drives_massive_profit_growth\"><\/span>Ashok Leyland \u2013 Robust demands drives massive profit growth<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><span data-preserver-spaces=\"true\">Ashok Leyland\u2019s revenue from operations grew\u00a0a massive 85% YoY at\u00a0Rs 8,266\u00a0crore in\u00a0Q2FY23 compared to Rs 4,458 crore aided by\u00a0significant growth in\u00a0sales of trucks on the back of\u00a0robust\u00a0demand in the market.\u00a0\u00a0<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Ashok Leyland has posted a net profit of Rs 199 crore for Q2FY23,\u00a0 against a net loss of Rs 83 crore in Q2FY22.\u00a0<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">The company reported an EBITDA of Rs 537 crore in Q2FY23 when compared with an EBITDA of Rs 135 crore in Q2 FY22.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">The domestic medium and heavy commercial vehicle sales rose 113% at 25,475 units in Q2FY23 compared with 11,988 units in Q2FY22.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">LCV volumes were higher by 28% at 17,040 units in Q2FY23 as against 13,328 units in Q2FY22.<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Management_Speak-2\"><\/span>Management Speak<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\u201cWhile we will pursue growth, we want to do it profitably and sustainably, the team continues its focus on operating costs and margins. We have been driving our other businesses like aftermarket, power solutions, defense, and digital customer solutions which have contributed increasingly to our revenue,\u201d said Gopal Mahadevan, Director &amp; CFO,\u00a0of Ashok\u00a0Leyland<\/p>\n<p>\u201cDespite global recessionary trends, the Indian commercial vehicle market continues to grow well, the industry has seen strong volumes in Q2 FYI23 over the same period last year. We see the demand continuing in all segments of trucks and passenger vehicles and we remain confident and optimistic about the future,\u201d\u00a0said Dheeraj Hinduja, Executive Chairman, of Ashok Leyland.<\/p>\n<h4><span class=\"ez-toc-section\" id=\"ABOUT_THE_AUTHOR\"><\/span>ABOUT THE AUTHOR<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Ketan Sonalkar (SEBI Rgn No INA000011255<\/p>\n<p>Ketan Sonalkar is a certified SEBI registered investment advisor and head of research at\u00a0<a href=\"https:\/\/univest.in\/\">Univest<\/a>. He is one of the finest financial trainers, with a track record of having trained more than 2000 people in offline and online models. He serves as a consultant advisor to leading fintech and financial data firms. He has over 15 years of working experience in the finance field. He runs Advisory Services for Direct Equities and Personal Finance Transformation.<\/p>\n<p><em>Note \u2013 This channel is for educational and training purpose only &amp; any stock mentioned here should not be taken as a tip\/recommendation\/advice<\/em><\/p>\n<p><em>You may also like: <a href=\"https:\/\/univest.in\/blogs\/dr-reddys-reported-robust-q2fy23-numbers\/\">Dr. Reddy\u2019s reported robust Q2FY23 numbers<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Results declared for M&amp;M (Mahindra &amp; Mahindra), LIC of India, and Ashok Leyland on 11th November 2022. Here are some of the key takeaways from the results. M&amp;M \u2013 Reports highest quarterly standalone and quarterly revenue M&amp;M\u2019s standalone revenues in Q2FY23 stood at Rs 20,839 crore, up 57% on a YoY basis. M&amp;M\u2019s consolidated revenues<\/p>\n","protected":false},"author":10,"featured_media":26920,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[655,654,656,658,657,659,651,653,652],"class_list":["post-12595","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market","tag-ashok-leyland-growth","tag-ashok-leyland-q2fy23-results","tag-ashok-leyland-revenue","tag-lic-of-india-growth","tag-lic-of-india-results","tag-lic-of-india-revenue","tag-mm-mahindra-mahindra","tag-mahindra-mahindra-growth","tag-mahindra-mahindra-results"],"metadata":{"_edit_lock":["1668575371:10"],"_edit_last":["10"],"_nectar_gallery_slider":["off"],"_nectar_quote_author":[""],"_nectar_quote":[""],"_nectar_link":[""],"_nectar_video_m4v":[""],"_nectar_video_ogv":[""],"_nectar_video_poster":[""],"_nectar_video_embed":[""],"_nectar_audio_mp3":[""],"_nectar_audio_ogg":[""],"_post_item_masonry_sizing":["regular"],"_nectar_header_bg":[""],"_nectar_header_parallax":["off"],"_nectar_header_bg_height":[""],"_nectar_page_header_bg_alignment":["top"],"_nectar_header_bg_color":[""],"_nectar_header_font_color":[""],"_wpb_vc_js_status":["false"],"_yoast_wpseo_focuskw":["M&M (Mahindra & Mahindra) LIC of India Ashok Leyland Q2FY23 results"],"_yoast_wpseo_title":["M&M (Mahindra & Mahindra), LIC of India, Ashok Leyland"],"_yoast_wpseo_metadesc":["Results declared for M&M (Mahindra & Mahindra), LIC of India, and Ashok Leyland on 11th November 2022. 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