Mahindra & Mahindra (M&M) investor relations material

Executive summary

• Consolidated profit after tax rose 34% year-over-year to ₹5,455 crore, with ROE at 23% and revenue up 28% to ₹58,188 crore, reflecting strong growth across Auto, Farm, Finance, and Tech segments.

• Profit after tax attributable to owners reached ₹5,454.54 crore, and total comprehensive income was ₹5,512.16 crore.

• Multiple business segments delivered value despite 400-500bps commodity inflation headwinds and global/domestic uncertainties.

• Strong execution and growth engines across businesses, with major capacity expansions and AI initiatives underway.

Financial highlights

• PAT up 34% year-over-year to ₹5,455 crore; EPS at ₹48.80, up from ₹36.58; net profit margin improved to 10.31%.

• Auto segment PAT up 21% to ₹2,129 crore, Farm PAT up 15% to ₹1,520 crore, Mahindra Finance PAT up 78%, Tech Mahindra PAT up 28%.

• Auto revenue up 32% to ₹34,387 crore, Farm revenue up 15% to ₹12,501 crore, Financial Services revenue at ₹7,200.72 crore.

• Growth Gems (Real Estate, Logistics, Aerostructures) PAT tripled year-over-year.

• Basic EPS (not annualised) was ₹48.80, and inventory turnover increased to 6.84.

Outlook and guidance

• Plans to double SUV capacity and accelerate EV volume growth; Farm segment to focus on new launches and export acceleration.

• Tech Mahindra targets 15% EBIT margin by FY27; Mahindra Finance aims for 70/30 wheels/non-wheels mix by 2031 and a ₹3 lakh crore book.

• Cautiously optimistic outlook, with resilience built to navigate volatility and ongoing monitoring of regulatory changes such as ELV Rules.