Mahindra & Mahindra Q1 Results FY27: Consolidated Net Profit Rises 33.6% To ₹5,454.54 Crore; Revenue Up 26.6%

Mahindra & Mahindra Q1 Results FY27: M&M reported its Q1 FY27 results on Thursday, July 30, 2026 during market hours. The company has businesses spanning automobiles, farm equipment and financial services.

India’s largest automakers, consolidated profit after tax attributable to owners rose 33.58% year-on-year to ₹5,454.54 crore for the April-June quarter, compared with ₹4,083.32 crore in the same period last year. Consolidated revenue from operations grew 26.62% YoY to ₹57,533.44 crore from ₹45,435.88 crore a year earlier.

On a standalone basis, net profit rose 7% YoY to ₹3,685 crore from ₹3,450 crore, while revenue increased 23% to ₹41,920 crore.

The company said the quarter was supported by healthy performance across its businesses. Combined profit from the Auto and Farm segments rose 18%, Mahindra Finance expanded its loan book by 13%, while Tech Mahindra reported a 330-basis-point improvement in EBIT margin.

Auto Business Leads Growth

The automotive business remained the largest contributor to growth during the quarter. Total vehicle sales rose 23% year-on-year to 3.04 lakh units, including contributions from LMM and MEAL. SUV sales increased 15% to 1.75 lakh units, helping M&M maintain its leadership in the segment with a 25% revenue market share. The company also retained a 52% market share in the sub-3.5-tonne light commercial vehicle segment.

Consolidated automotive revenue increased 32% YoY to ₹34,387 crore, while segment profit after tax rose 21% to ₹2,129 crore.

On a standalone basis, auto revenue grew to ₹31,033 crore from ₹24,949 crore a year earlier. Standalone PBIT remained broadly stable at ₹2,212 crore, resulting in a margin of 7.1%. Excluding the impact of the electric SUV contract manufacturing business, the underlying auto PBIT margin stood at 8.3%, down 170 basis points year-on-year.

Rajesh Jejurikar, Executive Director and CEO of the Auto and Farm Sector, said both businesses delivered a resilient performance during the quarter, with SUV revenue market share improving sequentially and market share in the sub-3.5-tonne light commercial vehicle category also strengthening.

Farm Equipment Business Posts Steady Gains

The farm equipment business also reported steady growth, supported by higher tractor sales and market share gains.

Tractor sales rose 18% year-on-year to 1.58 lakh units, helping the company maintain a 44.9% share of the domestic tractor market.

Consolidated revenue from the farm equipment business increased 15% to ₹12,501 crore, while segment profit after tax also rose 15% to ₹1,520 crore.

On a standalone basis, revenue increased to ₹10,947 crore from ₹9,186 crore a year earlier. Standalone PBIT grew 11% to ₹2,028 crore, although the margin declined 130 basis points to 18.5%. Jejurikar said the core tractor business continued to deliver a healthy PBIT margin of 19.2% despite commodity cost pressures.

Services Business Strengthen Earnings

The services business delivered the strongest growth among M&M's key segments during the quarter.

Consolidated revenue rose 31% year-on-year to ₹12,899 crore, while profit after tax increased 80% to ₹1,805 crore.

Mahindra Finance expanded its assets under management by 13% during the quarter, with gross Stage 3 assets at 3.45%. Tech Mahindra continued its operational improvement, reporting an EBIT margin of 14.4%, up 330 basis points year-on-year. Mahindra Lifespaces also reported strong residential pre-sales of ₹925 crore, while the gross development value of new land acquisitions increased 60% to ₹5,600 crore.

Mahindra & Mahindra Share Price

Mahindra & Mahindra shares opened at ₹3,223.15 on the BSE on Thursday. During the session, the stock touched an intraday high of ₹3,325 and a low of ₹3,193.75. On the NSE, the stock rose as much as 3.2% to ₹3,327 compared with its previous close of ₹3,221.80.

The stock has gained more than 337% over the past five years and around 121% over the last three years. However, it remains down 13.6% so far in 2026. As of Thursday's session, the company's market capitalisation stood at over ₹4.07 lakh crore.

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