M&M Q1 standalone net profit rises 7% to ₹3,685 crore; revenue jumps 23%
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Mahindra & Mahindra Ltd (M&M) on Thursday reported a 7% year-on-year rise in standalone net profit to ₹3,685 crore for the quarter ended June 30, 2026, while revenue from operations increased 23% to ₹41,920 crore.
Standalone EBITDA rose 5% to ₹5,111 crore, compared with ₹4,884 crore in the year-ago period. However, the company’s operating margin declined to 12.2% from 14.3% a year earlier.
The company reported standalone profit after tax of ₹3,684.97 crore, compared with ₹3,449.84 crore in Q1 FY26. Revenue from operations stood at ₹41,919.74 crore, against ₹34,083.23 crore a year earlier.
Auto, farm businesses remain key drivers
M&M’s automotive segment recorded revenue of ₹31,033 crore during the quarter, compared with ₹24,949 crore a year earlier. Farm Equipment revenue stood at ₹10,947 crore, up from ₹9,186 crore in the corresponding period last year.
The company said its automotive business continued to strengthen its position in the market. Quarterly volumes across the auto business stood at 304,000 units, up 23%, while SUV volumes increased 15%. The company reported an SUV revenue market share of 25% in Q1 FY27.
In the farm equipment business, volumes rose 18% to 158,000 units, while market share reached 44.9%. Standalone PBIT for the segment increased 11% to ₹2,028 crore, although its PBIT margin declined 130 basis points to 18.5%.
Management flags macro headwinds
Commenting on the performance, Anish Shah, group CEO and managing director, M&M, said the company had delivered a strong start to FY27 despite a challenging environment.
“We are delighted to report a strong start to F27, despite a quarter marked by macro headwinds,” Shah said.
Rajesh Jejurikar, executive director and CEO of the auto and farm sector, said the businesses had demonstrated resilience during the quarter despite commodity inflation. He said the company’s core tractor PBIT margin stood at 19.2%, while auto PBIT margin excluding eSUV contract manufacturing was 8.3%.
M&M’s consolidated performance was stronger, with revenue rising 28% to ₹58,188 crore and PAT increasing 34% to ₹5,455 crore.
Shares of Mahindra & Mahindra rose as much as 3.3% to an intraday high of ₹3,327 on Thursday following the company’s Q1 FY27 results.