Mahindra & Mahindra Ltd.

Mahindra & Mahindra delivered a landmark Q3 FY26 performance, crossing ₹50,000 crore in consolidated revenue for the first time, marking 26% year-on-year growth.

Operating PAT surged 66% while reported PAT grew 47%, reflecting strong operational momentum. Both Auto and Farm segments recorded robust 23% volume growth, with Auto EBITDA margins expanding 90 basis points to 10.4% and Farm margins reaching near-best levels at 21.2%. The newly launched 7XO received exceptional response with 70% of bookings for top variants, creating waiting periods. Management outlined aggressive capacity expansion plans adding 15,000-16,000 units monthly by FY28, including dedicated EV capacity targeting 80,000+ annual volumes.

Mahindra Finance achieved breakthrough 97% operating profit growth and announced a strategic pivot to accelerated growth after successful asset quality turnaround. SUV market share strengthened to 24% revenue share while LCV dominance continued at 51.9%. Return on equity stood at 20.1%, above the 18% target. Management expressed high confidence citing strong demand fundamentals, judicious pricing strategy, and systematic cost management driving sustainable profitability.