Financial Statement Analysis of Mahindra and Mahindra

Analysts and investors were closely watching the initiatives taken by the automobile companies to prepare themselves for the downturn in FY2019-2020. They were analysing the past financials of all companies to understand the companies’ strengths and weaknesses. Amidst a weak forecast for automotive sales in FY2019-2020, M&M started the fiscal year by laying off its temporary employees (Refer to Exhibit III for M&M’s Segment-wise sales in FY17, 18 & 19).Continuing with the uncertainty in terms of decline in sales volumes, by the end of the first quarter of the fiscal year 2019-20, the number of temporary workers laid off was around 1500...