Mahindra & Mahindra Q1 FY26 Earnings Results: Profit Surges 24% to ₹4,083 Crore

On July 30, 2025, Mahindra & Mahindra Ltd. (M&M) reported a strong Q1 performance for FY26, with consolidated profit after tax (PAT) rising by 24% year-on-year to ₹4,083 crore. Consolidated revenue also jumped 22% YoY to ₹45,529 crore, driven by robust growth in the auto, farm, and service businesses.

Mahindra & Mahindra Q1 FY26 Earnings: Segment-Wise Performance

Auto Business

• Total vehicle sales stood at 2.47 lakh units, up 17% YoY.
• SUV volumes were at 1.52 lakh units; SUV revenue market share rose sharply to 27.3%, up 570 bps.
• Standalone PBIT increased by 24% to ₹2,221 crore; PBIT margin improved to 8.9% (10% excluding electric SUV manufacturing).
• Consolidated auto revenue reached ₹25,999 crore (↑31%); PAT rose 32% to ₹1,760 crore.

Farm Equipment Business

• Tractor sales grew 10% to 1.33 lakh units; market share increased to 45.2%.
• Standalone PBIT rose 21% to ₹1,819 crore with a margin of 19.8% (↑130 bps).
• Consolidated revenue climbed 12% to ₹10,892 crore; PAT stood at ₹1,323 crore (↑7%).

Services and Subsidiaries

• Mahindra Finance: Assets under management (AUM) grew 15%; gross stage 3 (GS3) remained under 4%.
• Tech Mahindra: EBIT margin improved 260 bps to 11.1%; PAT surged 34%.
• Mahindra Lifespaces: Residential pre-sales at ₹449 crore; GDV of ₹3,500 crore, up 2.5x.
• Club Mahindra: 85% occupancy with a 10% increase in room inventory.
• Mahindra Logistics: Revenue rose 14% to ₹1,625 crore.
• Overall Services: Revenue up 13% to ₹9,874 crore; PAT up 40% to ₹1,000 crore.

Standalone Financial Highlights

• Standalone revenue rose 26% YoY to ₹34,143 crore.
• EBITDA increased 17% to ₹4,795 crore.
• Standalone PAT grew by 32% to ₹3,450 crore.

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Mahindra and Mahindra Share Price Movement

As of July 31, 2025, Mahindra and Mahindra share price (NSE: M&M) is trading at ₹3,161.90 with a market capitalisation of ₹3.79 lakh crore. The stock has a P/E ratio of 27.38 and a dividend yield of 0.80%. It has a 52-week high of ₹3,303.00 and a 52-week low of ₹2,425.00. The quarterly dividend amount is ₹6.32.

Conclusion

Mahindra & Mahindra delivered a robust Q1 FY26, with solid growth across all core and emerging businesses. With gains in market share, improved margins, and steady expansion across segments, the company remains well-positioned for continued growth throughout the fiscal year.

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