M&M Delivers Record ₹12,929 Crore Profit in Q4 FY25 Results, Driven by Auto and Farm Segments

Mahindra & Mahindra Ltd reported its highest-ever consolidated profit after tax (PAT) in FY25 at ₹12,929 crore, a 20% year-on-year rise (excluding the impact of KG Mobility). For Q4 alone, PAT stood at ₹3,295 crore, also up 20%. The company rewarded shareholders with a dividend of ₹25.3 per share, a 20% increase over last year.

Strong Revenue Growth Across the Board

The company recorded consolidated revenue of ₹1,59,211 crore for the full year, marking a 14% increase from FY24. Q4 consolidated revenue was ₹42,599 crore, up 20% year-on-year, reflecting solid performance across multiple businesses.

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Automotive Business Leads the Market

M&M maintained its leadership in the SUV segment with a revenue market share of 22.5%, up 210 basis points. It also dominated the light commercial vehicle (LCV under 3.5 tonnes) category with a 51.9% share, up 290 bps. Q4 vehicle sales rose 18% to 2.53 lakh units, while full-year volumes grew 14% to 9.41 lakh. The electric SUV (eSUV) launch drew strong interest with 30,179 bookings on Day 1 and 6,300 deliveries. FY25 auto PBIT rose 30% to ₹8,277 crore with a 9.5% margin.

Farm Segment Delivers Strong Performance

M&M remained the top player in the tractor segment, achieving a record full-year market share of 43.3%, up 170 bps. Tractor sales for Q4 stood at 87,138 units, a 23% increase, while full-year sales rose 12% to 4.2 lakh. Farm segment profits also surged, with FY25 PBIT at ₹5,371 crore, up 30%, and margins improving by 210 bps to 18.4%.

Financial Services and Technology Businesses Show Healthy Growth

In the financial services space, Mahindra Finance’s assets under management grew 17%, with profits rising 33% and GS3 maintained below 4%. Tech Mahindra showed a strong turnaround with an EBIT margin of 9.7%, up 360 basis points, and a 77% increase in Q4 PAT. Mahindra Lifespace Developers recorded its highest-ever project acquisitions (GDV of ₹18,000 crore) and achieved a 20% rise in residential sales to ₹2,804 crore.

Hospitality and Logistics Segments Expand

Mahindra Holidays (Club Mahindra) continued to grow its footprint, adding 520 new rooms—the highest addition so far—bringing total inventory to 5,847. In logistics, Mahindra Logistics posted an 8% rise in Q4 revenue to ₹1,570 crore, reflecting continued traction in the sector.

Standalone Financials Reflect Strong Core Performance

On a standalone basis, M&M posted ₹1,18,625 crore in revenue for FY25, a 17% increase, with PAT rising 11% to ₹11,855 crore. Q4 standalone revenue grew 24% to ₹31,609 crore, while PAT rose 22% to ₹2,437 crore. EBITDA for the year stood at ₹18,416 crore, up 22% from FY24.

Commenting on the performance, Dr. Anish Shah, Group CEO & MD of M&M, credited the strong growth to focused execution and disciplined capital allocation. He noted continued market share gains in Auto and Farm, margin improvements in Tech Mahindra, and steady scaling of high-potential subsidiaries. He reiterated the group’s commitment to building valuable businesses for stakeholders.

About Mahindra & Mahindra

Mahindra & Mahindra, based in Mumbai, Maharashtra, is a leading Indian automobile manufacturer. Founded in 1945 as Mahindra & Mohammed, it was later renamed Mahindra & Mahindra.

As of 12:21 PM IST on May 5, Mahindra & Mahindra share price was trading at ₹2,988, up ₹61.80 or 2.11% for the day. The stock opened at ₹2,948.90 and touched a high of ₹2,996.70 and a low of ₹2,937.70 during the session. The company has a market capitalisation of ₹3.59 lakh crore, a price-to-earnings (P/E) ratio of 27.00, and a dividend yield of 0.71%. Over the past 52 weeks, the stock has reached a high of ₹3,270.95 and a low of ₹2,160.00.

Conclusion

Mahindra & Mahindra’s stellar FY25 results highlight its strength in core businesses and the success of its strategic focus across diverse segments. With robust market share gains, growing profitability, and strong leadership confidence, M&M appears well-positioned to sustain momentum and drive long-term shareholder value.

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