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| ECONOMIC PERFORMANCE |
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| Economics is a measure of efficient utilisation of resources to harness opportunities, expressed in monetary terms. Year over year, Mahindra has been posting excellent results on the economic front and this year too was no different. |
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| As the Indian economic juggernaut, contradicted the global slowdown and kept gaining momentum, Mahindra continued to accelerate the nation's growth story by significantly outperforming average industry growth rates. |
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Domestic MUV sales volumes grew by 39.4% as against the industry
MUV sales growth of 26%. We registered a staggering 46.3% growth in vehicles sales. Domestic tractor sales outperformed the industry by recording a growth of 46.9%. Even when exports from India continued to be under strain, our tractor exports grew by 27.5 %. |
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The cumulative impact of superior economic performance by most of our key revenue contributors saw the Group's gross revenues and other income for the year ended 31st March 2010 grow by 16.6 % to INR 337,901 million (USD 7.1 billion) from INR 289,920 million (USD 6.1 billion). The consolidated group profit for the year after exceptional items, prior-period adjustments and tax and after deducting minority interests rose to INR 24,786 million (USD 521.7 million) as compared to INR 14,054 million (USD 295.8 million) in the previous year – translating into a record
growth of 76.4 %. |
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These impressive bottom line growth is a manifestation of our rigorous
cost restructuring exercises, efficiency improvements, value engineering, optimisation of plant capacity utilisation and commitment to cost competitiveness in all areas. |
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| We have thereby enabled the Company to take full advantage of
the recovery in the economy. |
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