Mahindra & Mahindra reported a robust first quarter for FY26, with consolidated Profit After Tax (PAT) rising 24% to ₹4,083 crore. The group recorded strong performance across its core businesses—automotive and farm equipment—along with healthy growth in financial services, logistics, and hospitality.
Profits from the Auto and Farm segments increased by 20%, while the financial services arm reported a 15% increase in assets under management. Tech Mahindra delivered an EBIT margin improvement of 260 basis points, reflecting progress in its ongoing margin enhancement strategy. Among the group’s high-potential businesses, Mahindra Logistics achieved 14% revenue growth, and Club Mahindra expanded its room inventory by 10%.
In the automotive segment, Mahindra’s standalone Profit Before Interest and Tax (PBIT), excluding electric SUV contract manufacturing, stood at 10%, a 50 bps increase year-on-year. The company sold 247,000 vehicles during the quarter, including volumes from LMM and MEAL, marking a 17% increase. SUV sales reached 152,000 units, and Mahindra’s SUV revenue market share climbed to 27.3%, up 570 bps. The auto division recorded standalone PBIT of ₹2,221 crore (up 24%) and consolidated revenue of ₹25,999 crore (up 31%), while consolidated PAT came in at ₹1,760 crore (up 32%).
In the farm equipment division, Mahindra achieved a quarterly market share of 45.2%, up 50 bps, with volumes reaching 133,000 tractors—a 10% growth. The standalone PBIT for the farm segment rose to ₹1,819 crore, up 21%, with an improved margin of 19.8%, up 130 bps. Consolidated revenue for the segment stood at ₹10,892 crore (up 12%), and PAT increased to ₹1,323 crore (up 7%). These figures highlight continued strength in Mahindra’s agricultural machinery business despite external challenges.
The services portfolio delivered a solid performance as well. Mahindra Finance’s AUM rose 15%, with GS3 assets maintained below 4%, indicating sound asset quality. Tech Mahindra’s EBIT margin rose to 11.1%, with PAT up 34%. Mahindra Lifespaces posted pre-sales of ₹449 crore and added projects with a Gross Development Value of ₹3,500 crore—more than double from the previous period. Club Mahindra recorded 85% occupancy, while Mahindra Logistics posted ₹1,625 crore in revenue.
Overall, the services segment achieved ₹9,874 crore in revenue (up 13%) and ₹1,000 crore in PAT (up 40%). Group leadership expressed confidence in the sustained performance across verticals, highlighting market share gains, margin improvements, and strong execution amid a challenging global environment.
Founded in 1945, the Mahindra Group is one of the largest multinational conglomerates, with a presence in over 100 countries and a workforce of 260,000 employees. The group is a leader in farm equipment, utility vehicles, IT services, and financial services in India, and is the world’s largest tractor manufacturer by volume. It also has a strong presence in renewable energy, agriculture, logistics, hospitality, and real estate, with a focus on driving positive change in communities globally.
