Auto major Mahindra & Mahindra Ltd (M&M) has reported 34% year-on-year (YoY) growth in consolidated net profit to ₹ 5,455 crore in the first quarter (Q1) ended June 30, 2026, supported by strong operating performance across the board.
Consolidated revenue grew 28% YoY to ₹58,188 crore in the review period.
Auto and farm sector businesses continued to deliver on growth and margins with profits up 18%, it said. During the quarter the company sold a total of 3,04,000 vehicles, registering a growth of 23% YoY with sport utility vehicle sales touching 1,75,000.
Financial services Assets Under Management (AUM) grew at 13%. Tech Mahindra saw margin expansion with Earnings Before Interest and Taxes (EBIT) improving 330 basis points (bps). Mahindra Logistics showed strong revenue momentum with 23% growth and Mahindra LifeSpace Developers Ltd doubled its net profit, it added.
The company’s auto business reported consolidated revenue of ₹34,387 crore, up 32% YoY. Consolidated net earnings grew 21% YoY to ₹2,129 crore.
With quarterly volume of 158,000 units, up 18% YoY, the farm business had market share at 44.9%. Consolidated revenues rose 15% YoY to ₹12,501 crore. The sector’s consolidated net profit was at ₹1,520 crore, growing 15% on a yearly basis.
Anish Shah, Group CEO & Managing Director, M&M Ltd., said, “We had a strong start to FY27 despite a quarter marked by macro headwinds. The strength of our diversified portfolio coupled with proactive actions to navigate through this challenging environment has enabled us to deliver strong results.”
“Our Auto and Farm businesses continued to strengthen their leadership positions, despite this dynamic environment. TechM and MMFSL have made notable progress on their strategic priorities while our Growth Gems accelerated their growth momentum,” he added,
Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), M&M Ltd. said, the business segment “demonstrated strong resilience in the quarter. We have achieved a QoQ increase of 50 bps in SUV revenue market share and 150 bps in LCV ( 3.5T) volume market share. XEV 9S emerged as highest selling EV (electric vehicles) in India by volume. Our Tractors business gained 280 bps QoQ to reach 44.9% market share in the quarter.”
Amarjyoti Barua, Group Chief Financial Officer, M&M Ltd. said, “Our supply chain teams have executed remarkably well to navigate through a very uneven environment, marked by significant commodity inflation. We remain committed to our path of value creation while maintaining a strong balance sheet”
Published – July 30, 2026 04:17 pm IST
