Mumbai: Main sport utility automobile (SUV) and tractor maker Mahindra and Mahindra Ltd capped 1 / 4 of stable earnings progress for automotive companies, clocking a consolidated high line of over ₹50,000 crore for the primary time on the again of progress throughout its companies.
The corporate reported consolidated revenues of ₹52,100 crore, a fourth greater than the identical interval final yr. Consolidated revenue surged by a half year-on-year to ₹4,675 crore regardless of a ₹220 one-time hit as a result of implementation of latest labour codes.
“Auto and farm (segments) proceed to capitalize on their market management,” M&M’s group chief government officer and managing director Anish Shah stated throughout a post-earnings press convention.
The consolidated financials of M&M embrace the efficiency of not simply the corporate’s auto and farm divisions, but additionally its monetary companies unit, Mahindra Finance Ltd, and its info know-how arm, Tech Mahindra Ltd, together with a protracted tail of companies throughout actual property, hospitality, and logistics.
The corporate’s passenger automobiles enterprise, together with electrical automobiles, reported revenues of ₹30,370 crore, 30% increased year-on-year. The automotive section’s revenue earlier than curiosity and tax (PBIT) grew by an identical quantum to ₹2,607 crore.
The corporate offered 179,000 automobiles throughout the quarter, which was 26% greater than final yr. Gross sales have been barely inflated as a consequence of spillover from the previous quarter, when prospects delayed purchases in September 2025 to profit from an anticipated tax lower on new automobiles.
The farm gear enterprise, the place M&M is the nation’s largest tractor maker, reported revenues of ₹11,501 crore, a fifth greater than the identical interval final yr. PBIT, in the meantime, fell by 7% on-year to ₹1,259 crore.
Earlier, its friends, Maruti Suzuki Ltd and Tata Motors Passenger Automobiles Ltd, additionally reported that GST-cut pushed demand helped shore up their home revenues by over 1 / 4 in contrast with final yr. In the meantime, Hyundai Motor India Ltd reported year-on-year income progress of lower than a tenth.
EU, US commerce offers a chance
M&M was unfazed by the current commerce offers that India has signed with the European Union and the US, and earlier with the UK, Shah stated. It was unlikely for a European carmaker to provide automobiles in its dwelling nation and export them to India whereas nonetheless pricing them competitively with Indian carmakers like Mahindra, he stated.
In the meantime, calling the commerce deal an ‘alternative,’ he stated it opens up the European marketplace for corporations like M&M.
The corporate doesn’t presently make most of its common fashions in left-hand drive format, however it can accomplish that over the subsequent couple of years to discover gross sales in Europe, stated Rajesh Jejurikar, the chief director and chief government officer for auto and farm sector at M&M.
The commerce deal with the US would carry respite to the corporate as tractor exports to the US are a big enterprise for it, Jejurikar stated. The corporate has been transport solely the naked minimal portions required to the US to mitigate the affect of the 50% US tariffs. It additionally has gear saved in bonded warehouses within the US, which it can launch as soon as the chief order lowering tariffs on India to the brand new fee of 18% is signed, he stated.
In India, the corporate’s new fashions, specifically the XUV 7X0 and the XEV 9S, have been doing effectively, Jejurikar stated. The corporate’s dealerships are working low on inventory as a consequence of excessive demand, with inventories dipping to a median of 15-20 days, down from the norm of 30 days, he stated.
“Total, the demand outlook proper now appears very strong, and we’d count on to see excessive progress charges for the trade in addition to for us. I believe everybody goes to be constrained by capability, as a result of the demand proper now might be stronger than provide,” Jejurikar stated whereas addressing the media on the firm’s headquarters in Worli, Mumbai.
The shares of Mahindra & Mahindra closed flat on BSE on Wednesday at ₹3,674.65 according to a flattish benchmark Sensex. The outcomes have been disclosed throughout buying and selling hours.