MM completes merger of trucks, buses division with itself

The Bombay High Court had approved the scheme of arrangement between M&M and MTBL on March 7. The Mumbai-based firm had last year approved the de-merger of its trucks and buses operations from MTBL into M&M to derive greater synergies

Mahindra & Mahindra has completed the merger of trucks and buses vertical of its subsidiary MTBL with itself for greater synergy with the group business. The vertical was first demerged from Mahindra Trucks and Buses Ltd and then merged with M&M. In a filing to the BSE today, M&M said the scheme of arrangement has become effective from March 30, 2014.

As per the approved scheme, all assets and liabilities of MTBL have been transferred to M&M. MTBL had registered an accumulated loss of Rs 920 crore till FY'13, which will get into M&M account. M&M shares were trading at Rs 978.20 a piece on the BSE in afternoon trade, up 1.13 per cent from the previous close.

M&M stock price

On March 31, 2014, at 14:15 hrs Mahindra and Mahindra was quoting at Rs 980.20, up Rs 12.95, or 1.34 percent. The 52-week high of the share was Rs 1054.00 and the 52-week low was Rs 741.50.

The company's trailing 12-month (TTM) EPS was at Rs 60.90 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 16.1. The latest book value of the company is Rs 238.22 per share. At current value, the price-to-book value of the company is 4.11.

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