Mahindra & Mahindra (M&M) has sharply expanded its intellectual property footprint over the last decade, with the automaker reporting a 20-fold jump in granted patents between FY16 and FY26. The company said patents granted rose from 56 in FY16 to 1,334 in FY26, underscoring a sustained ramp-up in research output across its automotive and farm equipment businesses.

The cumulative number of patent applications filed stood at 2,728 as of March 2026, reflecting what the company described as a steady expansion in its innovation pipeline. Of the total granted patents, 60% are linked to the automotive business while 40% originate from the farm equipment vertical, indicating a relatively balanced R&D focus across its core segments.

Conversion efficiency sees sharp improvement

Alongside the rise in filings and grants, Mahindra reported a significant improvement in its patent conversion efficiency. The conversion rate of applications to granted patents has climbed from just 8% in FY16 to over 65% in applications filed over the past decade.

This steep improvement suggests tighter screening, stronger documentation quality and a more structured R&D-to-IP workflow, even as global automakers increasingly compete on software-led innovation, electrification and precision engineering.

The company also noted that its patent portfolio includes filings from Mahindra Electric Automobile Ltd., signalling increasing overlap between its legacy automotive operations and its newer electric mobility push.

R&D push aligned with Make in India strategy

Mahindra said the expansion in its IP base reflects deeper investment in research and development, aligned with its broader manufacturing and localisation strategy. While the company did not break up R&D spending, the rising patent output points to sustained engineering activity across vehicle platforms and agricultural machinery.

Over the past year, the company has also secured multiple industry recognitions, including the CII IP Award for Best Patent Portfolio and inclusion among India’s Top 50 Innovative Companies 2025, according to industry bodies.

The group’s broader strategy continues to position innovation as a core lever across its automotive, farm and emerging mobility businesses, even as competition intensifies in electric vehicles, software-defined platforms and agri-tech solutions.

Founded in 1945, Mahindra & Mahindra is part of the Mahindra Group, which operates across automotive, farm equipment, financial services and technology, with a presence in over 100 countries.