ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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ACC-Hit by Recession

EPW Research Foundation MAHINDRA AND MAHINDRA Market Leader MAHINDRA AND MAHINDRA, the market leader in utility vehicles and tractors, has shown a significant growth in income and profits for the year 1993-94. While net sales increased by 19 per cent over the previous year, the company's operating profits improved by 62 per cent and its net profit soared by 184 per cent from Rs 23.88 crore in 1992-93 to Rs 67.85 crore. Though the company provided for a net non-operating loss of Rs 13.2 crore and a tax provision of Rs 14.7 crore (1992-93 nit), the rise in overall net profit was aided by a 5.5 per cent fall in interest charges and a more 9 per cent rise in depreciation provision. Encouraged by its performance, the company has increased its dividend rate from 30 per cent last year to 45 per cent on a higher equity base.

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