Mahindra & Mahindra Ltd. reported a strong start to FY27, posting a 34% year-on-year increase in consolidated profit after tax (PAT) at ₹5,455 crore for the quarter ended June 30, 2026. Consolidated revenue for the quarter rose 28% to ₹58,188 crore, while annualised return on equity stood at 23%.
The company’s performance was driven by growth across its auto, farm and services businesses. Mahindra retained its leadership position in SUVs with a revenue market share of 25%, while SUV volumes grew 15% during the quarter. The company also maintained its leadership in tractors with a 44.9% market share and in electric three-wheelers with a 39.5% market share.
The auto business reported quarterly volumes of 304,000 units, up 23% year-on-year, while consolidated revenue increased 32% to ₹34,387 crore. Consolidated PAT from the segment grew 21% to ₹2,129 crore.
The farm business registered tractor sales of 158,000 units, up 18%, with consolidated revenue rising 15% to ₹12,501 crore. Segment PAT stood at ₹1,520 crore, also up 15%.
Within the services portfolio, Mahindra Finance’s assets under management increased 13%, while Tech Mahindra expanded its EBIT margin by 330 basis points to 14.4%. Mahindra Logistics posted a 23% increase in revenue to ₹2,003 crore, with profit growing threefold.
Commenting on the performance, Dr. Anish Shah, Group CEO and Managing Director, M&M Ltd., said, “We are delighted to report a strong start to F27 despite macro headwinds. The strength of our diversified portfolio and proactive actions enabled us to deliver strong results.”
Rajesh Jejurikar, Executive Director and CEO, Auto and Farm Sector, said, “The auto and tractor businesses demonstrated strong resilience, with gains in market share across SUVs, LCVs and tractors.”
Amarjyoti Barua, Group Chief Financial Officer, added, “Our teams have navigated commodity inflation effectively while maintaining a strong balance sheet and focus on long-term value creation.”
