Mahindra & Mahindra (M&M), one of India's leading automotive and farm equipment manufacturers, has reported a strong financial performance for the first quarter of fiscal year 2026, with significant growth across key business segments.

Impressive Financial Results

The company's consolidated net profit for Q1 FY26 jumped 24% year-on-year to Rs 4,083.00 crore, up from Rs 3,283.00 crore in the same period last year. This impressive growth was accompanied by a 22% increase in consolidated revenue, which reached Rs 45,436.00 crore compared to Rs 37,010.00 crore in Q1 FY25.

Stellar Performance in Auto and Farm Sectors

M&M's auto and farm equipment sectors continued to be the primary drivers of growth:

• Automotive Segment: The company achieved the top position in the SUV segment with a 27.3% revenue market share, representing a significant increase of 570 basis points. SUV volumes grew by 22%.
• Farm Equipment: M&M maintained its leadership in the tractor segment with a 45.2% market share, up by 50 basis points.

Strong Market Position Across Segments

The company demonstrated its market strength across various segments:

• Light Commercial Vehicles (LCV): M&M led the LCV segment with a 54.2% market share, an increase of 340 basis points.
• Electric 3-wheelers: The company captured a 38.7% market share in this growing segment.

Segment-wise Performance

Management Commentary

Dr. Anish Shah, Group CEO & Managing Director of M&M, stated, "Q1 F26 has been an excellent quarter, with broad-based growth across all our businesses. The operating excellence in our Auto and Farm businesses is evident in continued market share gains and margin expansion."

Mr. Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), added, "Our Auto and Farm businesses continue to lead with strong momentum in Q1 F26, with gain of 570 bps YoY in SUV revenue share, and 340 bps YoY in LCV (< 3.5T) market share. In Tractors, we gained 50 bps YoY to reach 45.2% market share, the highest ever in a quarter."

Financial Services and Other Businesses

Mahindra & Mahindra Financial Services Limited (MMFSL) reported a 15% growth in Assets Under Management (AUM), with Gross Stage 3 (GS3) maintained below 4%. Tech Mahindra showed improvement in EBIT margin, which increased by 260 basis points.

Outlook

With strong performance across its core businesses and growth in emerging sectors like electric vehicles, Mahindra & Mahindra appears well-positioned for continued success in the coming quarters. The company's focus on market leadership and operational excellence is likely to drive further growth and profitability.

As M&M continues to strengthen its position in the automotive and farm equipment sectors while expanding into new areas, investors and industry observers will be keenly watching the company's future moves and strategies in the evolving Indian market.

Mahindra & Mahindra , a leading Indian multinational automotive manufacturing corporation, has announced strong quarterly results for Q1 and the unfortunate passing of its Lead Independent Director.

Financial Performance

Mahindra & Mahindra reported robust financial results for the quarter:

• Consolidated Profit After Tax (PAT) grew by 24%
• Revenue increased by 22%
• Auto segment showed SUV volume growth of 22% with revenue market share reaching 27.30%
• Farm segment achieved 10% volume growth with a market share of 45.20%
• Tech Mahindra's EBIT margin recovered to 11.10%
• Mahindra & Mahindra Financial Services Limited (MMFSL) maintained stable asset quality with 15% AUM growth
• The company's Return on Equity (ROE) reached 20.60% on an annualized basis

Passing of T.N. Manoharan

Mahindra & Mahindra announced the passing of Lead Independent Director T.N. Manoharan on July 30. Manoharan, a Padma Shri awardee, had served as an Independent Director since November 2016 and as Lead Independent Director since August 2024.

Board Meeting and Results Announcement

The company had previously announced a change in its schedule for the Q1 results announcement, moving it forward by one day to July 30. The Board of Directors meeting was held on this date to consider and approve the unaudited standalone and consolidated financial results for the quarter ended June 30.

Market Expectations

Prior to the results announcement, market analysts and brokerages had anticipated strong year-on-year growth in both revenue and profit. This optimistic outlook was primarily driven by expectations of robust volume growth in Mahindra & Mahindra's automotive and tractor segments.

Trading Window Closure

Despite the change in the Board meeting date, the company had clarified that there would be no alteration to the Trading Window Closure period. The trading window remains closed from July 1 to August 2 (both days inclusive), in accordance with the company's Code of Conduct for Prevention of Insider Trading in Securities.

Recent Corporate Developments

In a separate development, Mahindra & Mahindra recently executed amendment agreements related to its proposed acquisition of SML Isuzu Limited. On July 29, the company signed amendment agreements with Sumitomo Corporation and Isuzu Motors Limited, modifying certain provisions of their respective Share Purchase Agreements dated April 26.

These amendments primarily involve:

1. Appointment of Mahindra & Mahindra's nominee as a 'key managerial personnel' of SML Isuzu on the closing date
2. Modifications in the delivery schedule for procuring supply of certain identified parts
3. Changes in timelines and procedures for effecting the name change of SML Isuzu

The strong quarterly results, coupled with ongoing strategic moves in the automotive sector, demonstrate Mahindra & Mahindra's robust performance and growth trajectory in the face of challenging market conditions.