| Metric | Value (₹ Cr) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 46.1K | 1.3% | 21.6% |
| Total Income | 46.8K | 0.7% | 21.3% |
| Expenditure | 41.2K | 0.2% | 20.1% |
| PBT | 5.6K | 8.2% | 30.8% |
| Net Profit | 4.0K | 9.4% | 17.9% |
| OPM | 19.37% | 1.30pp | 19.12pp |
| NPM | 8.47% | 0.95pp | 0.97pp |
| EPS | 32.90 | 10.1% | 15.7% |
Mahindra & Mahindra Reports 28% YoY Increase in Consolidated PAT for Q2 F26
04 Nov 2025 · 4 Nov 2025, 01:49 pm
Summary
Mahindra & Mahindra Ltd. reported strong operating performance across businesses in the second quarter of F26 with consolidated PAT of Rs 3,673 cr., up 28%. Auto and Farm continue to deliver on growth and margins. Financial services delivered 45% growth in PAT, while keeping asset quality strong. TechM continued its journey of margin expansion with EBIT improvement of 250 bps.
Key Highlights
- 1
Consolidated PAT at Rs 3,673 cr., up 28%
- 2
Consolidated Revenue at Rs 46,106 cr., up 22%
- 3
#1in SUVs with revenue market share at 25.7%, up 390 bps
- 4
#1 in LCVs <3.5T: market share at 53.2%
- 5
#1in Tractors: market share at 43.0%, up 50 bps
- 6
#1 in electric 3 wheelers: market share at 42.3%
- 7
MMEFSL PAT up 45%; stable GS3 <4%
- 8
Tech Mahindra EBIT at 12.1% up 250 bps
Management Comments
Dr. Anish Shah
We are pleased with the strong execution and solid performance delivered across the group in Q2’F26. Auto and Farm sustained their leadership with consistent gains in market share and profitability. TechM is progressing well on its transformation journey. MMFSL achieved a 45% PAT growth and remains committed to quality growth and digital transformation. Our Growth Gems are steadily advancing towards their ambitious goals, reinforcing our long-term value creation potential.
Mr. Rajesh Jejurikar
Strong performance of our Auto and Farm businesses continues in Q2’F26 reinforcing our leadership position, with a gain of 390 bps YoY in SUV revenue share, and 100 bps YoY in LCV (< 3.5T) market share. In Tractors, we gained 50 bps YoY to reach 43.0% market share. Our Auto Standalone PBIT margin (excl. e- SUV Contract Mfg.) improved by 80 bps to 10.3% and core Tractor PBIT margins improved by 190 bps to 20.6%.
Mr. Amarjyoti Barua
Our solid Q2 consolidated results reflects the strength of our diversified portfolio. We continue to deliver on our strategic priorities. We had strong cash generation in the first half, delivering over 10k crores of operating cash flow. We remain committed to sustainable growth and value creation.
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