The Mahindra Group on Thursday outlined an ambitious road map for its automotive business, targeting a nearly threefold growth in revenue by FY30. It also aims to become the world’s fastest-growing SUV brand, supported by upcoming launches and a broader portfolio expansion.
At the company’s Investor Day, 12 group CEOs laid out their strategic plans, but the automotive business stole the spotlight with a revenue guidance of Rs 2.27 lakh crore by FY30, a nearly threefold increase from Rs 90,825 crore in FY25. Mahindra’s FY20 auto revenue stood at Rs 28,408.63 crore, implying an eightfold growth in revenue by FY30 at a compound annual growth rate (CAGR) of 23% over 10 years.
Mahindra’s performance so far
Compared with FY25, Mahindra’s auto revenue will grow at a CAGR of 20% over five years, experts said, driven by a global-ready architecture, higher capacity utilisation and export-driven scale. Market share gains are also expected to support Mahindra’s momentum into the future. In the light commercial vehicle segment below 3.5 tonne, for instance, Mahindra expects its market share to rise from 51.7% in FY25 to 54.1% in FY26. In sports utility vehicles (SUVs), the company is eyeing an increase from 22.7% in FY25 to 26.4% in FY26.
Mahindra also said that its next wave of products will be built on two global platforms. This includes the NU_IQ for future internal combustion engine (ICE) SUVs and INGLO for electric vehicles (EVs). Mahindra plans to launch a suite of “world-beating” SUVs from 2027, including next-generation monocoque models, 4G adventure-ready variants and a new Global Pik Up designed for both right-hand-drive and left-hand-drive markets.
A significant pillar of the revenue strategy is predicated on international expansion. Mahindra has confirmed readiness to go global, targeting right-hand-drive markets in the UK, Australia, New Zealand and South Africa, besides left-hand-drive markets in Europe.
Mahindra on EV plans
The automaker also said it aims to electrify India’s last-mile mobility with a million EVs on road by 2031. The group plans to expand its electric commercial vehicle exports to over 10 markets globally, it said. On the farm equipment business, the group revised its tractor sales outlook for FY25-30. The CAGR forecast has been increased from 7% to 9%, supported by the group’s push to “democratise technology” and enhance the livelihoods of farmers globally.
For Tech Mahindra, the turnaround is expected to be completed by FY27 and the long-term aspiration is to drive profitable and sustainable growth higher than peer averages, it said. Mahindra & Mahindra Financial Services, meanwhile, is positioning itself as one of the most trusted financial services providers for rural India. The company is targeting fivefold growth in assets under management by FY30, driven by expansion in under-penetrated Bharat markets and a deeper integration of digital lending tools.