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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 PAT rose 34% year-over-year to ₹5,455 crore, with ROE at 23% and revenue up 28%, 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.
Tech Mahindra delivered a 28% profit increase, and Growth Gems profits tripled.
Strong execution and multiple growth engines delivered value despite 400-500bps commodity inflation headwinds.
Financial highlights
Revenue increased 28% year-over-year to ₹58,188 crore, with PAT up 34%, driven by Auto, Farm, Finance, and Tech segments.
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%.
Growth Gems (Real Estate, Logistics, Aerostructures) PAT tripled; Real estate GDV up 60% to INR 5,600 crore, pre-sales doubled.
Automotive segment revenue was ₹34,387.25 crore, Farm Equipment ₹12,500.77 crore, Financial Services ₹7,200.72 crore.
Basic EPS (not annualised) was ₹48.80, up from ₹36.58 in Q1 FY26.
Outlook and guidance
Plans to double SUV capacity by FY31, accelerate EV volume growth, and launch new INGLO platform models.
Farm segment to focus on new product launches, export acceleration, and fixing international execution.
Mahindra Finance to diversify into mortgage, SME, and insurance, aiming for a 70/30 wheels/non-wheels mix by 2031.
Tech Mahindra targeting 15% EBIT margin by FY27, with large deal wins and geographic diversification.
Real estate GDV pipeline at INR 50,000 crore, focus on premiumization and execution in key cities.
- 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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