M&M Q1 Results: Profit rises 24.39% to Rs 4,083.32 crore; Auto and Farm biz drive growth

Mahindra & Mahindra Ltd on Wednesday released its fiscal fourth quarter earnings report with profit at Rs 4,083.32 crore, surpassing estimates. This was 24.39 per cent higher than Rs 3,282.63 crore recorded during the corresponding quarter of FY25. It posted revenue from operations at Rs 45,435.88 crore, up 22.77 per cent in comparison to Rs 37,010.06 crore during the first quarter of previous financial year. The company eBITDA stood at Rs 4,736 crore.

According to a CNBC TV18 poll, M&M was expected to post Q1 profit at Rs 3,174 crore and revenue for the quarter was estimated at Rs 33,963 crore. 

M&M’s Auto and Farm business vertical continued to deliver on growth and margins with profits up 20 per cent. Financial services AUM, meanwhile, grew at 15 per cent. TechM posted margin expansion with an EBIT improvement of 260 bps. Mahindra Logistics showed strong revenue momentum with 14 per cent growth and MHRIL expanded room inventory by 10 per cent.

Dr Anish Shah, Group CEO & Managing Director, M&M Ltd, said, “The operating excellence in our Auto and Farm businesses is evident in continued market share gains and margin expansion.”

Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), M&M Ltd, said, “Our Auto and Farm businesses continue to lead with strong momentum in Q1FY26, with gain of 570 bps YoY in SUV revenue share, and 340 bps YoY in LCV (< 3.5T) market share. In tractors, we gained 50 bps YoY to reach 45.2 per cent market share, the highest ever in a quarter. Our Auto Standalone PBIT margin (excl. eSUV contract mfg.) improved by 50 bps to 10.0 per cent and core tractor PBIT margins improved by 100 bps to 20.7 per cent.”

M&M Q1 Results: Performance across business verticals

Mahindra & Mahindra’s auto segment delivered a strong performance in the first quarter of FY26, driven by robust volume growth and improved profitability. The company reported a standalone PBIT of Rs 2,221 crore, posting a growth of 24 per cent year-on-year. Notably, the PBIT margin stood at 8.9 per cent, and excluding the impact of eSUV contract manufacturing, margins improved by 50 basis points to 10 per cent.