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What is the story about?
Mahindra & Mahindra Ltd., the manufacturer of passenger and commercial vehicles, reported its March quarter results on Tuesday, May 5, that were in-line compared to analyst expectations.
M&M reported a net profit of ₹3,737.3 crore during the March quarter. A CNBC-TV18 poll had pegged the figure at ₹3,524 crore. The figure is 53% higher compared to the same quarter last year.
The company's revenue figure of ₹39,554 crore for the March quarter was higher than the ₹37,821 crore figure projected by the CNBC-TV18 poll. On a year-on-year basis, the revenue figure was up by 26.2% led by strong volume growth.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter increased to ₹5,565 crore, a 19% growth from last year and marginally higher than the CNBC-TV18 poll figure of ₹5,400 crore.
EBITDA margin narrowed by 80 basis points from 14.9% last year to 14.1% during the ongoing quarter. A CNBC-TV18 poll had projected the figure at 14.3%.
In its updates from the quarter, M&M reported a total growth of 27% in its overall volumes from the same quarter last year. On a sequential basis, the figure was down 5%.
Within the overall volumes, automobile volumes were up 23% during the quarter, while tractor volumes were up 36% from the last year's quarter.
During the March quarter, M&M's SUV revenue share increased by 60 basis points from the year-ago period. Tractors saw their revenue share increase by 90 basis points. Tractors also achieved the highest ever billing of over 5 lakh in financial year 2026, according to Rajesh Jejurikar, the Executive Director & CEO of Mahindra & Mahindra's Auto and Farm divisions.
The board of M&M has also approved a final dividend of ₹33 per share. Record date for the final dividend has been fixed as July 3, 2026.
On a consolidated basis, M&M's net profit went up by 42% from the same quarter last year to ₹4,667.6 crore, while revenue went up by 29.1% from last year to ₹54,982 crore.
EBITDA on a consolidated basis increased by 27.5% from last year to ₹10,127.3 crore, while margins remained steady at 18.4% from 18.6% earlier.
Shares of M&M have recovered from the lows of the day, currently trading 0.6% higher at ₹3,126.9. The stock is still down 17% so far in 2026.
M&M reported a net profit of ₹3,737.3 crore during the March quarter. A CNBC-TV18 poll had pegged the figure at ₹3,524 crore. The figure is 53% higher compared to the same quarter last year.
The company's revenue figure of ₹39,554 crore for the March quarter was higher than the ₹37,821 crore figure projected by the CNBC-TV18 poll. On a year-on-year basis, the revenue figure was up by 26.2% led by strong volume growth.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter increased to ₹5,565 crore, a 19% growth from last year and marginally higher than the CNBC-TV18 poll figure of ₹5,400 crore.
EBITDA margin narrowed by 80 basis points from 14.9% last year to 14.1% during the ongoing quarter. A CNBC-TV18 poll had projected the figure at 14.3%.
In its updates from the quarter, M&M reported a total growth of 27% in its overall volumes from the same quarter last year. On a sequential basis, the figure was down 5%.
Within the overall volumes, automobile volumes were up 23% during the quarter, while tractor volumes were up 36% from the last year's quarter.
During the March quarter, M&M's SUV revenue share increased by 60 basis points from the year-ago period. Tractors saw their revenue share increase by 90 basis points. Tractors also achieved the highest ever billing of over 5 lakh in financial year 2026, according to Rajesh Jejurikar, the Executive Director & CEO of Mahindra & Mahindra's Auto and Farm divisions.
The board of M&M has also approved a final dividend of ₹33 per share. Record date for the final dividend has been fixed as July 3, 2026.
Consolidated Numbers
On a consolidated basis, M&M's net profit went up by 42% from the same quarter last year to ₹4,667.6 crore, while revenue went up by 29.1% from last year to ₹54,982 crore.
EBITDA on a consolidated basis increased by 27.5% from last year to ₹10,127.3 crore, while margins remained steady at 18.4% from 18.6% earlier.
Shares of M&M have recovered from the lows of the day, currently trading 0.6% higher at ₹3,126.9. The stock is still down 17% so far in 2026.
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