Mahindra & Mahindra Q1 profit jumps 34% to ₹5,455 crore; revenue climbs 28%

Mahindra & Mahindra Ltd. reported a 33.58% year-on-year rise in consolidated net profit for the quarter ended June 30, supported by robust growth in its automotive, farm equipment and services businesses.

The automaker posted a consolidated net profit attributable to owners of the company of ₹5,454.54 crore for the first quarter of FY27, compared with ₹4,083.32 crore a year earlier. Revenue from operations rose 27.8% to ₹58,187.57 crore from ₹45,529.19 crore in the corresponding quarter last year.

Operational EBITDA increased 28.4% to ₹10,564.95 crore from ₹8,227.80 crore a year ago, while the EBITDA margin improved to 18.16% from 18.07%.

Auto, farm businesses remain growth drivers

Mahindra said it delivered a strong operating performance despite macroeconomic headwinds during the quarter. The company's SUV business retained its leadership position with a 25% revenue market share, while SUV volumes rose 15%. The farm equipment business maintained its leadership with a 44.9% market share, while tractor volumes increased 18% during the quarter.

"We are delighted to report a strong start to F27, 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," Group CEO and managing director Anish Shah said.

"Our Auto and Farm businesses continued to strengthen their leadership positions, despite this dynamic environment. TechM and MMFSL have made notable progress on their strategic priorities while our Growth Gems accelerated their growth momentum," Shah added.

Executive director and CEO (auto and farm sector) Rajesh Jejurikar said the company continued to gain market share across key segments despite significant commodity inflation.

"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 9e emerged as the highest-selling EV in India by volume," he said.

Services businesses support earnings

Mahindra Financial Services reported a 13% growth in assets under management during the quarter, while Tech Mahindra continued its margin expansion journey with a 330-basis-point improvement in EBIT margin. Mahindra Logistics recorded 23% revenue growth, while the group's consolidated services business posted a 31% increase in revenue and an 80% rise in profit.

Shares of Mahindra & Mahindra ended 2.26% higher at ₹3,294.60 apiece on the NSE. The stock has gained nearly 3% over the past year, outperforming the benchmark Nifty 50, which has declined more than 2% during the same period.