Mahindra & Mahindra declares dividend of Rs 16.25 per share

Mahindra & Mahindra has recommended a dividend of Rs 16.25 per equity share, which is 325% of its face value. The decision was made during a board meeting to approve the company’s quarterly results. The Q4 result showed a 22% YoY rise in standalone net profit to Rs 1,549 crore and revenue jumped 31% to Rs 22,571.37 crore. The company achieved an all-time high profit of Rs 10,282 crore on a consolidated level in FY23, driven by successful automotive launches, farm equipment growth, strong financial services, and monetisation/partnerships. CEO and MD Anish Shah said it was a “blockbuster year” for the group.