Mahindra & Mahindra (M&M Ltd) has reported a strong operating performance across businesses in Q3 of FY25 with a consolidated PAT of INR 31.81 billion, up 20 percent. Auto and Farm Divisions continue to deliver growth and margins. Profits have been up 16 percent. The Financial services AUM grew at 19 percent and TechMahindra achieved good traction in deal wins, seeing its EBIT improve 480 bps.
Claiming to be Number one in SUVs with revenue market share at 23 percent, up 200 bps, Mahindra & Mahindra reported that SUV volumes in Q3 FY25 rose 20 percent. The company reported that it has retained its number one position in LCVs below 3.5 tonne GVW with a market share of 51.9 percent, up 230 bps. The company also reported that it has retained its number one position in tractors with the market share of 44.2 percent, up 240 bps. 
While the market share of the group in electric vehicles is at 41.8 percent, the market share of MMFSL AUM has increased by 19 percent. TechMahindra EBIT has rose 480 bps with continued focus on margin expansion. The consolidated revenue was reported at INR 414.7 billion, up 17 percent. Consolidated PAT was reported at INR 31.81 billion, up 20 percent. Year-To-Date FY25 RoE was reported at 18.4 percent and EPS at 86.0.
Speaking about the development, Dr Anish Shah, Managing Director and CEO, M&M Ltd. said, “Our businesses continue to demonstrate strength in execution. Auto and Farm delivered solid performance on market share and margins, on the back of focused execution. The transformation at TechMahindra is gathering momentum. MMFSL continues to balance asset quality and growth priorities, with GS under four percent on the back of strong AUM growth. Our Growth Gems are demonstrating steady progress towards their long-term objectives.”
Rajesh Jejurikar, Executive Director and CEO (Auto and Farm Sector), M&M Ltd, averred, “The launch of our flagship electric origin SUVs, the BE 6 and XEV 9e set a new benchmark in global innovation. Thar ROXX won the Indian Car of the Year (ICOTY) as well as Autocar car of the year. In Q3 F25, we were Number one in SUV revenue market share with 200 bps YoY increase. LCV less than 3.5-tonne volume market share is at 51.9 percent, a gain of 230 bps. The Auto segment PBIT is up by 120 bps YoY. We achieved highest ever Q3 tractor market share at 44.2 percent, a gain of 240 bps YoY, and farm PBIT is up by 260 bps YoY.”
 
 

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Zuno General Insurance has launched Fuel Guard, an industry-first car insurance add-on. As per the new-age digital insurer, the product offers extra protection amid India’s growing adoption of approved blended fuels.

Fuel Guard covers specified engine and fuel-system components against accidental and unforeseen damage caused directly by manufacturer-approved blended fuel. It is available for private cars registered on or after 1 April 2023, provided the manufacturer has approved the fuel used.

Vehicles must follow the prescribed maintenance schedule and have no unauthorised engine or fuel-system modifications. The cover can be added to applicable private car package, standalone own damage and bundled policies, including three-year long-term policies. Zuno said the launch reinforces its customer-focused motor protection strategy, following offerings such as Zuno SmartDrive.

Shanai Ghosh, MD & CEO, Zuno General Insurance, said, "At its core, Fuel Guard is built around a simple idea: as the mobility ecosystem evolves, insurance protection needs to evolve with it. At Zuno, we continuously look at how changes in mobility are shaping customer expectations and ownership experiences. Fuel Guard reflects our effort to translate those insights into simple, practical solutions that make protection more relevant in everyday life."

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Chennai-headquartered electric vehicle company Raptee.HV has opened an electric mobility Centre of Excellence at Rajalakshmi Engineering College, establishing an industry-academia partnership focused on electric vehicle technology.

The new facility, inaugurated on World EV Day, is spread across 3,000 square feet and will operate under the Raptee.HV Academy initiative will introduce industrial exposure and prototyping tools to academic institutions.

The project represents an INR 5 million investment and accompanies a Memorandum of Understanding signed between Raptee.HV and Rajalakshmi Engineering College. The agreement covers industrial training, site visits, guest lectures, internships, academic courses and research projects.

It is designed for students across electrical, electronics and automotive engineering; the laboratory contains a Raptee.HV T30 motorcycle, core electric vehicle components, a stripped motorcycle fitted with digital twin technology and equipment for testing battery packs, electric motors, power electronics, charging systems, vehicle communications and diagnostics.

Dinesh Arjun, Co-Founder and CEO, Raptee.HV, said, "The next generation of mobility will be built by engineers who understand the machine from the cell to the software. But you cannot build that understanding from a classroom alone. You have to get your hands dirty, take systems apart, question how they work, experiment and build again. The HV Lab is our attempt to bring that experience into engineering education. If even a few students walk out of this lab wanting to build the next great EV technology, we have done our job."

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Zuno General Insurance has launched Fuel Guard, a car insurance add-on offering financial protection against component damage caused by manufacturer-approved blended fuels.

The policy addition targets private motor vehicles in India as alternative and blended fuel adoption expands across the country. The coverage applies to specified engine and fuel-system parts in cases of accidental or unforeseen damage arising directly from approved blended fuel use.

At present, the insurance cover eligibility is restricted to private cars registered on or after 1 April 2023, provided the vehicle manufacturer has endorsed the specific fuel blend used. Vehicle owners must adhere to the manufacturer's prescribed maintenance schedule without making unauthorised modifications to the engine or fuel system. Fuel Guard can be added to private car package policies, standalone own-damage coverage, bundled options and three-year long-term policies.

Shanai Ghosh, Managing Director and CEO, Zuno General Insurance, said, "At its core, Fuel Guard is built around a simple idea: as the mobility ecosystem evolves, insurance protection needs to evolve with it. At Zuno, we continuously look at how changes in mobility are shaping customer expectations and ownership experiences. Fuel Guard reflects our effort to translate those insights into simple, practical solutions that make protection more relevant in everyday life."

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JSW Group and Volkswagen Group have signed a non-binding memorandum of understanding (MoU) for a proposed 51:49 alliance involving JSW Green Mobility Limited and Skoda Auto Volkswagen India Pvt Ltd. No official statement or press release has been issued by either the JSW Group, Skoda/Volkswagen yet regarding the development. 
“The signing of the non-binding MoU has actually taken place,” claimed an industry source. Pointing at the news in Economic Times, he said, “The non-binding MoU paves way for further negotiations between the two organisations in terms of valuation and other factors.” 
“The non-binding MoU would explore setting up of a strategic joint venture in India that would develop, manufacture and sell passenger vehicles for the domestic as well as international markets,” he added. 
Stating that the nature of vehicles would include ICE, electric and hybrid powertrain ones, the source averred, “The non-binding MoU would pave the way for internal approvals, regulatory clearances and other nitty-gritties such as sourcing, manufacturing, technology, localisation, management etc. before a concrete structure is engineered by both the companies and the groups that control them by the end of this year or early next year. 
Entering India is 2000, Skoda, the Czech passenger vehicle arm of the Volkswagen Group has been driving activities for Volkswagen and Skoda brand of vehicles in India. While the Chakan (Pune) plant has been under Volkswagen, the Shendre MIDC (Chhatrapati Sambhaji Nagar) plant has been under Skoda. The Volkswagen Group premium luxury vehicles of the Volkswagen, Skoda and Audi brand are assembled at the Shendre MIDC facility. It has been some time that the Volkswagen Group is looking to turn the Indian operations into a regional hub catering to the immediate neighbouring markets among others. 
Holding a 35 percent stake in JSW MG Motor India, which involves SAIC Motors and is separate from JSW Green Mobility, the JSW Group has presence across steel, infrastructure, energy, cement, paints and automobiles. While there have been reports indicating plans to increase its holding to 45 percent in JSW MG Motor India, the Group has committed up to USD 3 billion over five years in investment in its automotive arm, which includes the building of a greenfield manufacturing footprint at Chhatrapati Sambhaji Nagar. 
The development about the non-binding MoU between JSW Group and Volkswagen Group, the source claimed, has taken place at around the same time the CEO of Skoda Auto, Klaus Zellmer, and the CEO of Volkswagen, Thomas Schäfer, were visiting India. 
 

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