Mahindra & Mahindra Q1 Result: Net profit grows 24%, revenue jumps to ₹45,436 crore YoY

The company’s revenue from operations also increased 23% year-on-year (YoY) to ₹45,436 crore as compared to ₹37,010 crore in the corresponding quarter of the previous fiscal year.

The carmaker said it has reported strong operating performance across businesses in the first quarter of FY26.

M&M’ operating profit, which is also known as earnings before interest, taxes, depreciation, and amortisation (EBITDA), jumped 15.6% at the end of the quarter to ₹8,135 crore as against ₹7,036 crore in Q1 FY25.

The margin, however, contracted to 18% in Q1 FY26 in contrast to 19% YoY.

Ahead of the earnings, shares of M&M settled at ₹3,225 apiece on NSE, rising 0.80%.

The carmaker’s auto and farm continue to deliver on growth and margins with profits up 20%. Its financial services AUM grew at 15%. Mahindra Logistics showed strong revenue momentum with 14% growth, and MHRIL has expanded room inventory by 10%.

Commenting on the earnings, M&M’s Group CEO & Managing Director Dr. Anish Shah said, “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. TechM is witnessing momentum on deal wins, sustaining cost discipline, and moving steadily towards its F27 margin objectives.

MMFSL’s calibrated approach to growth is manifesting in stable asset quality, with GS3 under 4% as committed. Our Growth Gems are progressing well on their value creation journeys.”

Mahindra & Mahindra has sold a total of 247,249 vehicles during the quarter under review as against 211,550 units YoY. The total number of tractors sold during the quarter was 132,964, in contrast to 120,492 units in Q1 FY25.

The auto major’ SUV revenue market share was at 27.3%, up 570 basis points (bps). Volume for the SUV segment rose 22% in the reporting quarter.

Explaining further, M&M Executive Director & CEO (Auto and Farm Sector) Rajesh Jejurikar said the businesses continue to lead with strong momentum in Q1 F26, with a gain of 570 bps YoY in SUV revenue share.

"In tractors, we gained 50 bps YoY to reach 45.2% market share, the highest ever in a quarter. Our Auto Standalone PBIT margin improved by 50 bps to 10%, and core tractor PBIT margins improved by 100 bps to 20.7%," Jejurikar said.

 “We are pleased with the performance of the group in the quarter, despite several macro challenges, including geopolitical disruptions. It demonstrates the resilience of the group. With our continued focus on capital discipline & operational metrics, we remain committed to shareholder value creation,” said Amarjyoti Barua, Group Chief Financial Officer, M&M.