Consolidated net profit rises 42% YoY to Rs 4,668 crore; revenue up 29%
Standalone profit beats estimates, driven by strong SUV and tractor demand
Board recommends ₹33 dividend; services segment sees 64% surge in PAT
Mahindra & Mahindra Ltd reported a 42% on-year rise in consolidated net profit to Rs 4,668 crore for the fourth quarter of FY26, compared with Rs 3,295 crore in the corresponding period last year.
Consolidated revenue for the quarter grew 29% YoY to Rs 54,982 crore from Rs 42,599 crore. Profitability also improved, with PAT margin expanding to 8.5% from 7.7% a year ago. The board has recommended a final dividend of Rs 33 per share for FY26.
1 May 2026
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Group CEO and Managing Director Anish Shah said FY26 was a defining year for the group, marked by strong execution and standout performance across businesses despite geopolitical headwinds and disruptions.
"TechM reported healthy traction in key new deal wins despite a challenging global environment. MMFSL pivoted to growth on the back of stable asset quality. Our Growth Gems have demonstrated significant momentum. The Group is well poised to accelerate in these uncertain times," Shah said.
On a standalone basis, net profit surged 53.3% YoY to Rs 3,737 crore, surpassing Street estimates of Rs 3,432 crore, supported by strong demand for its high-margin sport-utility vehicles and tractors. Standalone revenue rose 26.2% to Rs 39,554 crore.
EBITDA increased 18.8% to Rs 5,565 crore, although margins narrowed to 14.1% from 14.9% in the year-ago quarter.
Segment-wise, the automotive business remained the primary growth driver, with consolidated Q4 revenue climbing 32% YoY to Rs 34,294 crore and PAT jumping 49% to Rs 2,553 crore.
The farm equipment segment posted revenue of Rs 10,022 crore, up 26% YoY, while PAT stood at Rs 768 crore, marking a modest 1% increase.
The services segment delivered robust performance, with revenue rising 23% YoY to Rs 12,147 crore and PAT surging 64% to Rs 1,348 crore.
Operationally, total auto volumes stood at 307,000 units in Q4, up 21% YoY, while tractor volumes grew 36% to 120,000 units. The company attributed the performance to broad-based growth across its auto, farm, and services businesses, along with improved execution and operational discipline.
