Consolidated income expanded 22% to ₹45,529 crore, reflecting broad-based development throughout core and group firms.
The corporate’s auto phase continued to achieve momentum, with SUV volumes rising 22% and income market share touching 27.3%, up 5.7 proportion factors year-on-year. It additionally retained its management within the mild business car (LCV) phase underneath 3.5 tonnes.
Within the farm tools house, M&M expanded its tractor market share to 45.2%—the very best ever for 1 / 4—on the again of a ten% development in gross sales quantity.
“This was a powerful quarter for money technology. Regardless of infusing near Rs2,500 crores into two subsidiaries by way of rights points, our money stability grew quarter-over-quarter,” Anish Shah, group CEO and managing director stated in a quarterly earnings name with reporters.
In Q1FY26, the standalone entity contributed 74.5% to consolidated web gross sales and 84.5% to consolidated web revenue, up by 2.1 and 4.9 proportion factors respectively, underlying a stronger relative efficiency by the standalone enterprise in comparison with the general group”Our auto and farm companies are firing on all cylinders,” stated Rajesh Jejurikar, Govt Director & CEO – Auto and Farm Sector. “We have seen vital market share beneficial properties in SUVs and tractors whereas persevering with to ship robust development throughout classes.”He stated that the core tractor enterprise for each home and exports, excluding farm equipment and energy, achieved a PBIT margin of 20%.
Past its core verticals, M&M’s subsidiaries additionally contributed meaningfully. Mahindra Finance grew its property underneath administration by 15%, whereas Tech Mahindra reported an enchancment in working efficiency. Mahindra Lifespaces, Membership Mahindra, and Mahindra Logistics additionally registered wholesome traction, reinforcing the corporate’s diversified development engine.
With sustained management in key product segments, new launches within the pipeline, and a give attention to operational self-discipline, M&M stays well-positioned to construct on its momentum by the remainder of FY26, the corporate stated.
“Rural sentiment is stronger, notably within the tractor enterprise, whereas city sentiment stays weak. Nevertheless, fundamentals are stable, and with anticipated price cuts and improved liquidity, we anticipate city sentiment to get well,” stated Shah.
Jejurikar stated M&M plans new institutions in markets like Australia and South Africa and has a powerful gross sales optimism for the festive season. “The auto launch pipeline stays robust, with new variants and fashions deliberate for FY26 and FY27,” he stated.
