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Mahindra & Mahindra (M&M) investor relations material
Mahindra & Mahindra Q1 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.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 performances across Auto, Farm, Finance, and Tech segments.
Auto profits rose 21%, Farm profits up 15%, Mahindra Finance profits surged 78%, and Tech Mahindra delivered a 28% profit increase year-over-year.
Growth Gems (Real Estate, Logistics, Aerostructures) profits tripled, driven by real estate, Accelo, and logistics.
Strong execution and operational excellence across all businesses, with multiple growth engines delivering value despite 400-500bps commodity inflation headwinds.
Total comprehensive income attributable to owners reached ₹5,512.16 crore, up from ₹4,329.76 crore in Q1 FY26.
Financial highlights
Revenue up 28% year-over-year to ₹58,188 crore; PAT up 34% to ₹5,455 crore; EPS grew to ₹48.80.
Auto segment revenue grew 32% to ₹34,387 crore, Farm 15% to ₹12,501 crore, Mahindra Finance had a strong quarter, and Growth Gems grew 39%.
Auto PBIT grew 28%, PAT by 21%; Farm PBIT up 9% after impairment, 12% before impairment, and PAT up 15%.
Free cash flow at Tech Mahindra up 94%; Real Estate GDV additions up 60%, residential pre-sales doubled.
Net profit margin improved to 10.31% from 9.61% year-over-year.
Outlook and guidance
Plans to double SUV capacity and accelerate EV volume growth; Farm segment to focus on new product launches and export acceleration.
Mahindra Finance targets a 70/30 split between wheels and non-wheels business by 2031, aiming for a INR 3 lakh crore book.
Lifespaces aims for INR 10,000 crore pre-sales by FY 2030, focusing on premium residential in Mumbai, Pune, and Bangalore.
Logistics expects continued momentum, with express logistics nearing EBITDA positive.
The company continues to monitor the impact of new Environment Protection (End-of-Life Vehicles) Rules, 2025, with potential financial implications yet to be determined.
- Q4 profit up 42% YoY, 35% full-year growth, strong Auto/Farm, robust cash, and higher dividend.M&M
Q4 25/26 - Record revenue and 47% PAT growth, with strong margins and robust segment performance.M&M
Q3 25/26 - Aggressive growth plans aim for multi-fold expansion in revenue and market leadership by 2030.M&M
Investor Presentation - PAT up 28% and revenue up 22% YoY, with leadership in farm, auto, and EV segments.M&M
Q2 25/26 - PAT up 24% YoY, revenue up 22%, ROE at 20.6%, strong segment growth and cash generation.M&M
Q1 25/26 - PAT up 35% YoY to ₹3,171 crore, with strong margins, robust growth, and positive outlook.M&M
Q2 24/25 - Q1 FY25 profit after tax up 20% YoY to Rs 3,283 crore, with revenue up 11% and higher margins.M&M
Q1 24/25 - Strong growth, record market shares, and Rs. 25.3 dividend despite global headwinds.M&M
Q4 24/25 - Q3 FY25 saw 20% profit growth, margin expansion, and strong auto and farm performance.M&M
Q3 24/25
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