Mahindra to observe no production days for upto 17 days in second quarter
Mahindra and Mahindra said that as part of aligning its production with sales requirements, it would be observing No Production Days during the second quarter of the Financial Year 2019-2020.
New Delhi: Mahindra and Mahindra (M&M) has said that it has revised its number of no production days for the second quarter of this fiscal.
In a BSE filing the company said that it has increased the number of days by three additional days in the second quarter, from the previously stated period.
“We refer to our letter dated 9th August, 2019 wherein we have intimated about ''No Production Days'' ranging from 8 - 14 days in various plants of the Company in the Automotive Sector and Mahindra Vehicle Manufacturers Limited, a wholly owned subsidiary of the Company ("MVML") during the second quarter of the Financial Year 2019-2020.”
The company said that as part of aligning its production with sales requirements, it would be observing No Production Days during the second quarter of the Financial Year 2019-2020 in various plants of the company, as mentioned below:
- Automotive Sector: Ranging between 8 - 17 days i.e. additional 3 days as compared to the disclosure made on 9th August 2019
- Farm Equipment Sector: Ranging between 1-3 days
“The Management does not envisage any adverse impact on availability of vehicles in the market due to adequacy of vehicle stocks to serve the market requirements,” the M&M said.
Earlier, Maruti Suzuki India and Ashok Leyland had also announced to observe no production days in their respective plants owing to the slowdown in auto sales.