Mahindra & Mahindra Q2 Result: Net profit rises 16% YoY to ₹3,673 crore, revenue up 21.75%

Mahindra & Mahindra (M&M) on Tuesday, November 4, reported a consolidated net profit of ₹3,673 crore for the second quarter of the current fiscal year (Q2 FY26), up 15.8% year-on-year (YoY) against ₹3,171 crore.

The company's revenue from operations jumped 21.7% YoY to ₹45,885.40 crore during the September quarter, as compared to ₹37,689.04 crore in Q2 FY25.

The automobile major's earnings before interest, taxes, depreciation and amortisation (EBITDA) stands at ₹8,708 crore for the September quarter, up 26.2% from ₹6,899 crore in the year-ago period. Margin is at 18.9%, against 18.3% a year ago.

“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," said Anish Shah, Group CEO & Managing Director, M&M Ltd.

On a standalone basis, the company's net profit grew by 18% YoY to ₹4,521 crore in Q2 FY26 from ₹3,841 crore in Q2 FY25.

Auto segment

Mahindra & Mahindra’s auto segment reported quarterly volumes of 2,62,000 units, including sales by LMM & MEAL, marking a 13% YoY growth. The UV volumes were at 1,46,000, and the company's Q2 SUV revenue market share increased to 25.7% (up 390 bps).

The auto segment's consolidated net profit was at ₹1,536 crore, up 8% YoY, and revenue was up 25% YoY at ₹27,171 crore.

Farm segment

The farm segment reported its highest-ever market share at 43%, up 50 bps. The volumes stood at 1,23,000 units, up 32% YoY. This segment's consolidated revenue rose by 25% YoY to ₹10,225 crore, and consolidated profit grew by 45% YoY to ₹1,163 crore.

M&M shares

At 2:16 pm on Tuesday, shares of Mahindra & Mahindra were trading 0.8% up at ₹3,577.20 apiece on the NSE. The company's market capitalisation stands at ₹4.29 lakh crore.

The stock was at its 52-week high of ₹3,723.80 per share on September 9, 2025, while it was at its 52-week low of ₹2,425 apiece on April 7, 2025.

Over the last five days, the scrip has added 1.1%, and is currently up 3.03% as against a month ago. In the last six months, M&M shares have soared 18.3%, and the year-to-date rise stands at 16.07%.