On Monday trade, Mahindra & Mahindra (M&M) Ltd shares had risen to a record high of Rs 1,006 on the Bombay Stock Exchange (BSE) Rs 1,192 crore for its fourth quarter that ended March 31, 2022. Revenue operation of consolidated net profit grew 28 per cent to Rs 17 124 crores in the period, compared to Rs 13,356 crore in the financial year 2021.

“M&M’s net realization improved, and volumes grew 13% YoY in 4QFY22. Contributions from subs/JVs/Associates continued to improve. Farm subsidiaries recorded the seventh consecutive quarter of positive EBIT. Semiconductor supplies improved in 4QFY22, resulting in the highest ever quarterly UV volumes,” said domestic brokerage Motilal Oswal while maintaining its buy tag on M&M share price.

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M&M said it achieved the highest ever standalone revenue for auto and farm segments at Rs 55,300 crore for FY22, which is 29 per cent higher than the previous year’s.

Revenue for auto and farm segments at Rs 55,300 crore for FY22, having more than 29 per cent in the financial year 2021, said M&M.

It also said the company’s auto business delivered the highest ever quarterly UV (utility vehicle) volumes in Q4 with 42 per cent year-on-year growth, while Farm Equipment Sector (FES) tractors market share for FY22 stood at 40 per cent. The semiconductor supplies improved in Q4, resulting in the highest quarterly UV volumes.

“Our performance in 4Q and FY22 underscores the resilience of our business model. Despite significant challenges due to Covid, commodity prices, semiconductor shortages and the Ukraine conflict, we have delivered strong results at the consolidated level. Our group companies are well-positioned to capitalize on growth opportunities,” said Anish Shah, Director and CEO of M&M.

The auto stock has risen over 23 per cent in a year, whereas it is up about 20% in 2022 (YTD) compared to a 5 per cent fall in benchmark Sensex during the period.