Hello and welcome. You're watching Business Today Television. I'm Sakshi Batra and this is our earning special edition. We're going to be putting the spotlight on M&M, which is reported yet another strong quarter. We've seen about a 34% year-on-year growth in the consolidated net profit for the company. That's come in over 5455 crores in a Q1. We've also seen the consolidated revenue grow by 28% year-on-year to over 58,188 crores. On the standalone basis as well, we've seen the net profit rise by 6.8% revenue has increased by 23% for the company at over 41,920 crores as well. We've also seen the revenue from the automotive segment increase by 32% year-on-year and the company's SUV revenue market share now stands at 25%. Even the farm business has delivered robust business with volumes rising 18% as well. Let's dive straight in and welcome the top management. We have Mr. Rajesh Jejurikar joining in. He's the Executive Director and CEO of auto and farm sector for M&M. Welcome to you, sir. Thank you so much for taking the time out. We'll start off with the big drivers for this quarter, sir, and how much of this quarter's growth has driven by largely the higher volumes vis-a-vis better realizations or premiumization of the product mix, sir.
Sakshi, thanks for having me on the show and it's always a pleasure to be with you on this post earnings call. So, I just want to cover three points. One is around our performance. You covered some of those points as you just spoke. It was a very robust performance. It's not an easy economic or geopolitical environment in which to operate. A lot of uncertainties, some supply chain disruptions, but I think we were able to deliver a very strong performance on the volume side. Just want to quickly say the SUV segment grew by 15%. That was in spite of some shortages. The LCV segment grew by 20% and tractors grew by 18%. So, you know, this is a very strong robust performance in what was not an easy environment.
We also had a strong profit growth at a PAT level both auto, you know, profits grew by 21% and the farm profits grew by 15%. So, you know, we feel good about the performance on a stand on a basis. We also had a very strategic announcement the day before yesterday, which was the merger of the Mahindra trucks and buses business with SML. Mahindra acquired a while back and you know, we believe this is a very important strategic opportunity for us to grow in the CV business with, you know, the potential merger of the two entities. We straight away get to a 6% market share, so we become a roughly 6,000 crore revenue player with a 6% market share in a very, very important segment of the economy.
And late last evening, we also kind of said that, you know, our electric three-wheeler business has been doing extremely well. It has a 40% share and most interestingly, it has had EV penetration in that segment has gone from 12% 2 years back to something like 40% over a 2-year period. So, you know, huge increase in EV penetration and we are a leader in that segment with 39.5% market share. So, that business has had a fundraise which has valued the business at 10,800 odd crores, making it a unicorn. So, you know, three three sets of kind of points I thought I'll just put it out to your viewers as, you know, two strategic inputs or actions. One is the last mile mobility valuation, which is the three-wheeler business plus the trucks and buses, setting us up well on two new segments for the future while the current segments continue to do well.
Absolutely, sir. So, that's our congratulations to you on the EV three-wheeler businesses well, growing substantially. Now, standalone becoming a unicorn. Let's start out by understanding on the points that you mentioned on the supply chain issues, the shortages that this quarter faced. What is the outlook, sir? Is there still going to be some more shortage to be faced in the couple of quarters that are coming ahead or a largely is the situation now stabilizing?
Yeah, so you know this is a very tough question to ask because it's really daily work management as one calls it in the old Japanese jargon, which is how do you get, you know, your supply chain robust and resilient in what is what in the environment sees a lot of disruption for some reason or the other. I'll maybe quickly touch upon the point of capacities. You know, so we are have been investing and have been investing in ramping up our capacities. 53,500 was our SUV. 56,000, you know, as we ended in March. We hope that to 60,000 per month and then by March end we're going to add our capacities further into buckets. So, one is 10,000 a month for preparing for a new product which we'll launch in the next year. And then another 4,000 a month of EV capacity for a new product that we'll launch, which will really take us from 60 to 10 in the ice SUVs, which is 70. And 12,000 in the electric capacity, right? So, that will be 8 plus 12. That will take us to 82,000 per month as the capacity in SUV. Then we will add another 10,000 for the phase two of for new IQ platform from Jaguar. And then we add 20,000 per month in two phases in the calendar year 2029, middle of 2029 in in the new green field plant in Nagpur. So, we're almost going to be doubling our capacities in the SUV space over the next between now and 2030.
Okay. And sir, if you could help us understand with these increasing capacities, what is the kind of product pipeline over the next 12 to 18 months and launches within various segments you talked about that investors can look for?
Yeah, so we've already put out our schedule of you know, new products to 2030. Specifically, you know, we normally don't share what we're going to launch in the immediate short term because you know, everyone should have some element of surprise. But, there are two products that we will definitely do as a significant new launches in the next calendar. One is an SUV which will come out of the first SUV that will come out of the new IQ platform which we had showcased last year on 15th August. And one new electric SUV. So, you know, two new products, so all new products literally that we'll see in the next calendar year.
Okay. Sir, you've constantly strengthened your leadership in SUV. Help us understand on the market share gains that you're looking at. Is there further room for building on to that? And does your current order book provide enough visibility for the next few quarters?
Yeah, we have a strong order book and most of our products have are in very good demand momentum. Our strategy all along over the last five years has been to focus more on how do we get more people to buy into the SUV proposition. And then by increasing the size of the opportunity, we are actually ending up gaining market share. So, the approach really is to say let's get more people to buy SUVs.
And there is an intrinsic value proposition for customers in that. And as that happens, because, you know, we we are creating products which are very in a very emotional way connecting with customers.
Then our market share also, you know, has been improving because we are helping grow the category while we gain market share. So, we will go with that strat- continue with that strategy of launching products which connect very deeply with customers.
Fair point. So, when we talk about the margins, if you could highlight for us both the headwinds and the tailwinds, you know, leading to the kind of margins we've seen this quarter, and what is the outlook going forward since the commodity inflation continues to be on the volatile front, how are you looking at dealing with it? You've already taken some price hikes in the April to June quarter. One you've announced in July as well. What's the going to be the strategy to deal with commodity inflation and the outlook on margins, sir?
