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Autos and FMCG Log Robust Q3 Prints as Demand Rebounds and Big Capex Plans Advance

One‑off labour‑code costs alongside HUL’s ice‑cream demerger distorted reported profits.

Overview

  • Mahindra & Mahindra posted consolidated PAT of Rs 5,021.47 crore with revenue topping Rs 50,000 crore for the first time, while booking a Rs 292.94 crore labour‑code charge.
  • Hindustan Unilever’s net profit came in at Rs 6,603 crore largely due to a one‑time gain from the Kwality Wall’s demerger, with continuing‑operations PAT down about 30% to Rs 2,118 crore and portfolio moves including buying the remaining 49% of OZiva and exiting Nutritionalab.
  • Eicher Motors’ PAT rose 21% to Rs 1,420.61 crore as Royal Enfield and VECV volumes grew, and the board cleared Rs 958 crore to expand Cheyyar capacity by 5.4 lakh units with a phased ramp from Q1 FY2026‑27 through FY2027‑28.
  • Ashok Leyland reported consolidated revenue of Rs 14,830 crore and net profit of about Rs 862 crore, with an exceptional loss of roughly Rs 325 crore tied to the new labour codes and double‑digit growth in MHCV and LCV volumes.
  • Investment plans gathered pace as M&M outlined a Rs 15,000 crore, 10‑year integrated facility at Nagpur to add modular capacity, while reported volumes highlighted a demand recovery across SUVs, tractors, motorcycles and commercial vehicles.