Mahindra & Mahindra Q4 results: Standalone net profit rises 53% YoY; board announces final dividend for FY26

Mahindra & Mahindra (M&M) reported a 53% jump in its standalone net profit on Tuesday, May 5, at ₹3,737 crore for the quarter ended March 31, 2026, as compared to ₹2,437 crore in the same quarter of the financial year 2025-26.

The automobile manufacturer’s revenue from operations climbed 26% to ₹39,554 crore in the January-March quarter of FY26 (Q4 FY26), compared to ₹31,353 crore in the year-ago quarter.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 38% to ₹5,463 crore in the quarter under review, as against 3,964 crore in Q4 FY25. The EBITDA margin improved to 13.81% in the Q4 FY26 in contrast to 12.64%.

Mahindra & Mahindra has also recommended a final dividend of ₹33 (660%) per ordinary equity share of face value ₹5 each for FY26. This compares with a dividend of ₹25.3 (506%) per ordinary equity share declared for the financial year ended March 31, 2025.

“The dividend for the financial year ended 31st March 2026, as recommended by the Board of Directors and if approved and declared at the ensuing Annual General Meeting (“AGM”) of the Company, will be paid after Thursday, 30 July 2026,” the company said in a regulatory filing.

M&M reported a strong performance in FY26, with consolidated revenue rising 25% to ₹198,639 crore. The auto major’s consolidated PAT increased 35% to ₹17,099 crore during the year. It also reported a return on equity (RoE) of 20.1% and earnings per share (EPS) of ₹152.2 for FY26.

“Mahindra & Mahindra delivered solid results across multiple businesses in F26 on the back of strong growth, execution and capital allocation discipline. Auto and Farm maintain market leadership in key segments, with 27% revenue growth and profits up 25%. Financial services AUM grew at 12%,” the company said in a statement.

It further said that Tech Mahindra secured key new deal wins across verticals and reported an EBIT improvement of 290 basis points. It also noted that the Growth Gems segment demonstrated strong momentum, delivering PAT growth of 50%.

Executive Director & CEO (Auto and Farm Sector) Rajesh Jejurikar said that in Q4 FY26, Mahindra & Mahindra’s SUV revenue share increased by 60 basis points year-on-year, helping it retain the top position. He added that the company became the fifth-largest exporter for PV and CVs in FY26, while the tractors business gained 90 basis points in Q4, with full-year market share at 43.6%, up 30 basis points, and achieved its highest-ever billing of over 5 lakh units. He noted that these market share gains were supported by strong margin performance.

M&M auto segment

Mahindra & Mahindra said its auto segment reported Q4 volumes stood at 307,000 units (including sales by LMM & MEAL), up 21%, with UV volumes at 184,000 units. The company’s Q4 SUV revenue market share rose to 24.5%, up 60 basis points. On a consolidated basis, Q4 revenue was ₹34,294 crore, up 32%, while PAT increased 49% to ₹2,553 crore.

For FY26, the company reported volume growth of 19%, with UV volumes rising 20%. Consolidated revenue for FY26 was ₹117,834 crore, up 30%, and PAT rose 33% to ₹7,842 crore.

Farm segment

M&M in its farm segment recorded Q4 volumes of 120,000 units, up 36%, with market share rising to 42.1%, up 90 basis points. Standalone Q4 PBIT stood at ₹1,643 crore, up 31%, while the PBIT margin was reported at 19.4%.

For FY26, the farm segment reported standalone PBIT of ₹7,206 crore, up 35%, with a PBIT margin of 19.9%, up 150 basis points. The company also undertook three international farm exits during the period, in line with its capital allocation discipline.

Commenting on the earnings, Dr Anish Shah, Group CEO & Managing Director, said, “FY26 has been a defining year marked by strong execution and breakthrough performance across several Group companies, despite geopolitical headwinds and several disruptions through the year. Auto & Farm further strengthened their leadership, supported by sustained customer demand for our differentiated products & operational discipline.”

Following the earnings, shares of M&M were seen at ₹3,125.90 apiece on the National Stock Exchange, rising 0.62%.