Mahindra & Mahindra will hold its 80th Annual General Meeting on July 30, 2026, at 3:00 p.m. IST through video conferencing. The Board has recommended a dividend of ₹33 (660%) per Ordinary (Equity) Share of face value ₹5 each for FY26, subject to shareholder approval. The equity dividend outgo would absorb ₹4,103.65 crore, representing a payout of 26.2% of standalone net profit. The Company released its Integrated Annual Report for Financial Year 2025-26, reporting a 25% rise in consolidated income from operations to ₹1,98,639 crore and a 32% increase in Profit After Tax (PAT) to ₹17,099 crore. The record date for dividend is Friday, July 3, 2026, and dividend will be paid after July 30, 2026, subject to shareholder approval.

Financial Highlights for FY26

Mahindra & Mahindra delivered a strong financial performance in FY26, with consolidated income from operations rising 25% over FY25 and standalone income from operations growing 25% over FY25. The following table summarises the key financial metrics:

The standalone profit before Depreciation, Finance Costs, Share of Profit of Associates and Joint Venture, Exceptional items and Taxation increased by 25.5% to Rs. 25,264.66 crore. The consolidated profit before exceptional items, share of profit of associates and joint ventures and tax for the year is Rs. 23,513 crore as compared to Rs. 17,542 crore in the previous year, registering an increase of 34.0%.

Business Performance

The Automotive Sector posted total sales of 11,17,698 vehicles, registering a growth of 18.8% over the previous year. In the domestic market, the Company crossed the 1 million mark for the first time, achieving record domestic volumes of 10,76,668 vehicles. The Company ranked No. 1 in SUV revenue market share with a 25.3% share, up 260 bps, and emerged as India's No. 1 E-SUV player by revenue market share with a 37.4% share. EV penetration within the SUV portfolio reached 9.6% in Q4 FY26, with E-SUVs achieving an end-to-end EBITDA margin of 9.1% in their first full year of operations.

The Farm Equipment Sector recorded total sales of 5,26,403 tractors, registering a growth of 24.0% over the previous year. The Company achieved its highest ever domestic market share of 43.6%, retaining market leadership for the 43rd consecutive year. Farm Machinery revenue grew 32% to ₹1,354 crore.

In February 2026, the Company announced its largest ever integrated manufacturing facility in Nagpur with an investment of ₹15,000 crore over ten years. Once fully operational, the facility will have an annual production capacity of over 5 lakh vehicles and 1 lakh tractors. The Company also acquired a 58.97% stake in SML Mahindra Limited (formerly SML Isuzu Limited), doubling the combined market share in trucks and buses to 6%.

Key Subsidiary Performance

Tech Mahindra Limited reported a consolidated operating revenue of Rs. 56,815 crore in the current year as compared to Rs. 52,988 crore in the previous year, registering an increase of 7.2%. Mahindra & Mahindra Financial Services Limited reported a consolidated operating revenue of Rs. 21,005 crore, registering an increase of 13.8%, with closing business AUM of Rs. 1,34,096 crore, a growth of 12.1%. Mahindra Lifespace Developers Limited reported a consolidated operating revenue of Rs. 1,178 crore as compared to Rs. 372 crore in the previous year, registering an increase of 216.7%. Mahindra Logistics Limited reported a consolidated operating revenue of Rs. 6,999 crore, registering an increase of 14.6%, and returned to PAT profitability.

AGM Agenda

The 80th AGM will transact the following key items of business:

E-voting Schedule and Procedures

The Company has engaged KFin Technologies Limited to provide remote e-voting facilities. Shareholders whose names appear in the Register of Members or the Register of Beneficial Owners as on the cut-off date of July 23, 2026, are entitled to vote and participate.

Votes cast during the remote e-voting period cannot be changed subsequently. Members who have not voted remotely may participate in e-voting during the AGM via the integrated platform. The facility for appointing proxies is not available since the meeting is held via video conferencing. The results of the voting will be declared within two working days from the conclusion of the meeting and will be available on the Company's website and the stock exchanges.

Mahindra & Mahindra reported total vehicle sales of 1,06,207 units in June 2026, registering an overall growth of 37% including exports. The company's Utility Vehicles segment sold 60,393 units in the domestic market, a growth of 28%, while overall sales including exports stood at 61,504 units. Domestic sales for Commercial Vehicles stood at 26,076 units, a growth of 35%. The total vehicle sales include SUVs, LCVs (<3.5T), 3-wheelers, and export volumes.

Automotive Division Performance

Nalinikanth Gollagunta, CEO, Automotive Division, Mahindra & Mahindra Ltd, attributed the performance to robust growth across the portfolio. The company achieved SUV sales of 60,393 units and LCV <3.5T segment sales of 26,076 units, delivering growth of 28% and 35%, respectively. Total exports for the month stood at 5,918 units, a significant increase of 125% compared to the previous year.

Farm Equipment Business

The Farm Equipment Business (FEB) sold 58,177 tractors in the domestic market during June 2026, registering a growth of 12% over the previous year. Total tractor sales, including exports, stood at 59,935 units against 53,392 units in the same period last year, surpassing the market estimate of 56,000 units, a growth of 12%. Exports for the month were 1,758 units, a growth of 8%. Veejay Nakra, President – Farm Equipment Business, noted that government interventions like sustained fertilizer subsidies are expected to mitigate risks to farmers.

Trucks & Buses Business

The Trucks & Buses business (CV > 3.5T) reported overall sales of 3,249 vehicles in June 2026, a year-on-year growth of 5%. This business comprises the Mahindra Trucks & Buses division (MTBD) and SML Mahindra Limited (SML). Vinod Sahay, Executive Chairman – SML, highlighted that while infrastructure-led demand supports the industry, recent increases in fuel prices have tempered fleet expansion decisions.