| Metric | Value (₹ Cr) | Q2 FY26 | Q3 FY25 |
|---|---|---|---|
| Revenue | 52.1K | 13.0% | 25.6% |
| Total Income | 53.0K | 13.2% | 26.4% |
| Expenditure | 46.6K | 13.0% | 25.5% |
| PBT | 6.1K | 9.2% | 27.6% |
| Net Profit | 5.0K | 26.7% | 38.5% |
| OPM | 18.84% | 0.53pp | 17.60pp |
| NPM | 9.48% | 1.01pp | 1.56pp |
| EPS | 41.85 | 27.2% | 46.8% |
Mahindra & Mahindra Reports 54% Increase in Consolidated PAT for Q3 F26
11 Feb 2026 · 11 Feb, 12:02 pm
Summary
Mahindra & Mahindra Ltd. reported strong operating performance across businesses in the third quarter of F26 with consolidated PAT of Rs 4,675 cr., up 54%. Auto and Farm continue to deliver on growth and margins, with profits up 28%. Financial services delivered 97% growth in PAT, while maintaining strong asset quality. TechM continues its good traction with highest ever TCV deal wins and EBIT improvement of 290 bps. Breakout performance at two Growth Gems with first profitable quarter at Mahindra Logistics after 11 quarters and a 5x PAT growth at Mahindra Lifespaces.
Key Highlights
- 1
Consolidated PAT at Rs 4,675 cr., up 54%
- 2
Consolidated Revenue at Rs 52,100 cr., up 26%
- 3
RoE at 20.1% (annualized)
- 4
#1 in SUVs with revenue market share at 24.1%, up 90 bps
- 5
#1 in LCVs <3.5T: market share at 51.9%
- 6
#1 in Tractors: market share at 44.0%
- 7
#1 in electric 3 wheelers: market share at 38.6%
- 8
MMEFSL PAT up 97%
- 9
Tech Mahindra EBIT at 13.1% up 290 bps
- 10
Growth Gems: Logistics profitable after 11 quarters, 5X PAT growth at Lifespaces
Management Comments
Dr. Anish Shah
Group CEO & Managing Director
We are delighted to report solid operating performance across the group in Q3’F26, reflecting our strong focus on growth coupled with disciplined execution. Auto & Farm has maintained its leadership position on the back of steady customer demand, strong product acceptance and unwavering focus on operational excellence. TechM continues to make meaningful progress. Mahindra Finance delivered another solid quarter with meaningful PAT growth while maintaining strong asset quality. We are especially pleased to see breakout performance from two of our growth gems, Mahindra Logistics and Mahindra Lifespaces.
Mr. Rajesh Jejurikar
Executive Director & CEO (Auto and Farm Sector)
Auto and Farm businesses delivered strong performance in Q3’FY26. We have achieved a 90 bps YoY increase in SUV revenue share and 10 bps YoY increase in LCV (< 3.5T) market share in Q3. Our tractor business gained 20 bps YoY to reach an impressive 44.1% share for YTD FY26. Our new launches XEV 9S, and the XUV 7XO have received very positive response in the market.
Mr. Amarjyoti Barua
Group Chief Financial Officer
Our Q3 consolidated results reflects the strength and depth of our diversified portfolio. Our services businesses continue to increase their contribution to the overall results. Our results are also translating into a very strong Balance Sheet.
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