Mahindra and Mahindra Guidance

Mahindra & Mahindra Ltd has announced the following Outlook:

Outlook:

The Indian Economy is performing reasonably well at present. Rainfall has been good, inflation is down to 3% and the GDP growth in Q1 F08 is estimated at around 9% by various agencies. However, worries due to moderation in bank finance to rural sector, sharply appreciating rupee, slowing world growth. and fluid, domestic and international financial conditions, are likely to persist, Interest rate cycle having peaked can be expected to move south in the near future and the industry is likely to gain momentum under its Influence. On balance our outlook for the rest of the year remains positive.

Note: Translation of rupee to dollar is a convenience translation at the respective period end exchange rate.