Mahindra & Mahindra
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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.
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Q1 26/27 earnings summary30 Jul, 2026

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.

Assess impact of End-of-Life Vehicles Rules 2025
Detail gain from sale of associate investment
Analyze Debt Service Coverage Ratio decline
Nagpur greenfield plant strategic rationale
Roadmap for international farm PBIT recovery
Real estate GDV 50K cr target execution plan
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Q2 26/273 Nov, 2026
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