Mumbai, Jul 30 (PTI) Mahindra & Mahindra Ltd on Thursday reported a 34 per cent year-on-year jump in consolidated Profit After Tax (PAT) to Rs 5,455 crore in the June quarter.
The company had posted a net profit of Rs 4,083 crore in the first quarter of FY26, the automaker said in a release.
Revenue for the quarter under review stood at Rs 58,188 crore, up 28 per cent from Rs 45,529 crore in the year-ago period.
During a post-earnings media conference, the company projected mid-high-teens growth for the SUVs segment and high-single-digit growth for the commercial vehicles segment.
For the tractor business, M&M maintained a 5 per cent growth guidance for the current fiscal. “Despite a quarter marked by macro headwinds…The strength of our diversified
portfolio coupled with proactive actions to navigate through this challenging environment has enabled us to deliver strong results. Our Auto and Farm businesses continued to strengthen their leadership positions, despite this dynamic environment,” said Anish Shah, Group CEO & Managing Director, M&M Ltd.
Tech Mahindra and Mahindra & Mahindra Financial Services Ltd have made notable progress on their strategic priorities while our Growth Gems accelerated their growth momentum, he added. Auto and Farm segments continue to deliver on growth and margins with profits rising 18 per cent year-on-year, the company said.
During the quarter, the company sold a total of 3,04,000 vehicles, registering a growth of 23 per cent YoY, it said, adding that the sport utility vehicle volume touched 1,75,000.
Financial services Assets Under Management (AUM) grew at 13 per cent.
Tech Mahindra continued its journey of margin expansion with an improvement of 330 basis points in EBIT (Earnings Before Interest and Taxes). The company said Mahindra Logistics showed strong revenue momentum with 23 per cent growth and Mahindra Lifespace Developers registering a 2x growth in profit.
“Auto and Tractor business demonstrated strong resilience in Q1 F27. We have achieved a QoQ increase of 50 bps in SUV revenue market share and 150 bps in LCV (< 3.5T) volume market share. XEV 9S emerged as the highest-selling EV in India by volume,” said Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), M&M Ltd.
The company’s tractors business gained 280 basis points on a sequential basis to reach 44.9 per cent market share in Q1 F27.
“Auto business PBIT (profit before interest and tax ) margin excluding eSUV contract manufacturing is 8.3 per cent and core tractor PBIT margin is 19.2 per cent despite commodity inflation,” he said. The company said its electric SUV penetration reached 12 per cent in the quarter under review with the XEV 9S emerging as the country’s highest-selling ePV by wholesale volumes.
“Auto has been driven by an SUV volume growth of 15 per cent. We continue to be the number one SUV player from a revenue market share standpoint. E-SUV penetrations at 12 per cent now, a very healthy number and a very rapid growth over the last year,” said Shah. For the farm business, domestic volumes were up 18 per cent while exports grew 15 per cent, year-on-year.
The company is looking forward to enhancing SUV production capacity to 8,200 units per month in the second half of FY27 and 92,000 units by the end of FY28.
“Our supply chain teams have executed remarkably well to navigate through a very uneven environment, marked by significant commodity inflation. We remain committed to our path of value creation while maintaining a strong balance sheet,” said Amarjyoti Barua, Group Chief Financial Officer, M&M Ltd.
The company also said that it is driving 15 AI transformation projects across the group.
The company said its goal is to reduce the time for product development, which translates directly back into revenue and cost.
“We have 50-plus forward-deployed engineers and AI experts, 19 proprietary AI models that we have built for various applications and 1,900 of our associates trained at our Mahindra.AI academy,” it said. PTI IAS DR SHM
