M&M's Q3 revenues may rise up to 42% YoY, fall in RM prices to aid margins

On the bourses, shares of M&M declined 1.4 per cent in Q3FY23, whereas peers like Maruti Suzuki, and Tata Motors slipped up to 4 per cent

Auto major Mahindra and Mahindra (M&M) is likely to clock up to 42.5 per cent year-on-year (YoY) growth in revenues to Rs 21,712 crore in the October-December quarter (Q3FY23), brokerages estimate. In the year-ago period, the company reported revenues at Rs 15,238 crore. The tractor-to-SUV maker will announce results on Friday, February 10.

According to estimates, softening raw material prices, coupled with volume growth are likely to help Ebitda (earnings before interest, tax, depreciation, and amortisation) margins expand up to 60 basis points (bps) to 12.6 per cent in Q3FY23 from 11.9 per cent in Q3FY22. Adjusted profit-after-tax (PAT), meanwhile,