'Not a moment for incremental experimentation, but meaningful AI integration at scale': Mahindra Group MD & CEO Anish Shah

Mahindra Group will move beyond pilot projects and embed artificial intelligence (AI) across its businesses as it sharpens its focus on technology-led growth, with Group MD & CEO Anish Shah asserting that the current phase demands large-scale adoption rather than incremental experimentation.

In his message to shareholders in Mahindra & Mahindra's FY26 annual report, Shah said the conglomerate is preparing itself for a future where AI will fundamentally reshape industries, even as businesses navigate an increasingly uncertain operating environment marked by supply chain disruptions, volatile input costs and geopolitical challenges.

AI to become central to Mahindra's growth strategy

Calling artificial intelligence one of the biggest technological shifts of the decade, Shah said its influence extends well beyond automation.

"Artificial Intelligence is one of the most defining shifts shaping our world today. Its impact is redefining industries, decision-making, and the nature of work itself," he said.

"Our approach is clear: we must act with courage and intent. This is not a moment for incremental experimentation at the margins, but for meaningful integration at scale. Across the Group, we are embedding AI into how we think, operate, and serve our customers," Shah said, outlining Mahindra's technology roadmap.

He added that scaling AI successfully would require organisations to continuously learn, adapt and rethink conventional ways of working. "This requires a commitment to continuous learning and a willingness to challenge established ways of working. Those who move early and decisively will lead. We are determined to be among them," Shah said.

Record financial performance provides momentum

The AI push comes on the back of Mahindra Group's strongest financial performance to date. During FY26, the group reported consolidated revenue of ₹1,98,639 crore, up 25% year-on-year, while consolidated profit after tax (PAT) increased 32% to a record ₹17,099 crore.

SUV volumes rose 20%, tractor sales crossed the 5-lakh mark, and the company retained its leadership in electric three-wheelers with a 40% market share. Tech Mahindra improved its EBIT margin to 12.6%, while Mahindra Finance posted a 60% rise in operational PAT.

'Accelerate in uncertainty'

Despite the robust performance, Shah cautioned that businesses face an increasingly complex global landscape.

"The progress we have made gives us confidence, but the environment ahead demands greater resolve. We are well positioned to accelerate in uncertainty," he said.

According to Shah, rising logistics and foreign exchange costs, volatile commodity prices, energy and infrastructure constraints, uneven availability of key raw materials such as aluminium, and manpower shortages across partner ecosystems are reshaping cost structures and supply chains.

Yet, he maintained that Mahindra's response would be to press ahead with its long-term ambitions.

"In this context, our response is not to slow down, but to move forward with greater clarity and discipline. Across our businesses, we are setting our sights on global leadership. This marks a shift from strong performance to a more expansive ambition, one that demands we think bigger, act with conviction and move together as one organisation."

"Uncertainty will remain a constant. But we have never waited for certainty to act," Shah said.