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Informist, Wednesday, Jul. 30, 2025

 

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--M&M Apr-Jun core tractor margin 20.7%, up 100 bps on year
--M&M: Saw broad-based growth across all businesses in Apr-Jun
--M&M Apr-Jun SUV revenue market share 27.3%, up 570 bps on year
--M&M Apr-Jun farm ops market share at 45.2%, up 50 bps on year
--M&M Apr-Jun farm equipment EBIT margin 19.8% vs 18.5% year ago
--M&M Apr-Jun farm equipment EBIT INR 18.19 bln vs INR 15.06 bln year ago
--M&M Apr-Jun automotive EBIT margin 8.9% vs 9.5% year ago
--M&M Apr-Jun automotive EBIT INR 22.21 bln vs INR 17.98 bln year ago
--M&M Apr-Jun EBITDA INR 47.95 bln vs INR 41.16 bln year ago
--M&M Apr-Jun farm equipment revenue INR 91.86 bln vs INR 81.44 bln year ago
--M&M Apr-Jun automotive revenue INR 249.49 bln vs INR 189.47 bln year ago
--M&M Apr-Jun total expenses INR 304.03 bln vs INR 239.84 bln year ago
--M&M Apr-Jun revenue INR 341.43 bln vs INR 271.33 bln year ago
--M&M Apr-Jun net profit INR 34.50 bln vs INR 26.13 bln year ago
--Analysts saw M&M Apr-Jun net profit at INR 31.15 bln
--M&M Apr-Jun net profit INR 34.50 bln

 

By Narayana Krishna

 

HYDERABAD - Mahindra & Mahindra Ltd. has reported healthy growth in its June quarter earnings, beating estimates, due to a strong sales performance and higher double-digit growth in market share in automotive and farm segments.

 

The company reported a 32% on-year growth in its net profit to INR 34.50 billion, much above the estimates of INR 31.15 billion. The growth in net profit is also the highest in four quarters. The company's June quarter revenue rose 26% on year to INR 341.43 billion, the highest growth in nine quarters. Analysts had estimated M&M revenue growth at 25% on year to INR 337.99 billion.

 

"Q1 F26 has been an excellent quarter, with broad-based growth across all our businesses. The operating excellence in our auto and farm businesses is evident in continued market share gains and margin expansion," the company said, quoting Anish Shah, group chief executive officer and managing director, Mahindra & Mahindra. 

 

M&M reported its automotive segment revenue at INR 249.49 billion against INR 189.47 billion a year ago, recording nearly 32% on-year growth. The farm equipment segment revenue saw an on-year growth of nearly 13% to INR 91.86 billion against INR 81.44 billion a year ago.

 

M&M's automotive segment growth was mainly led by the expansion of its sports utility vehicles market. The company said its SUV category market share by revenue was up by 570 basis points on year to 27.3%. SUV volumes for the quarter were up by 22% on year, the company said.

 

The farm equipment segment, mainly led by tractors, registered a market share of 45.2%, up 50 basis points on year. In the electric three-wheeler segment, the company achieved a market share of 38.7%.

 

Despite macro challenges, including geopolitical disruptions, the company maintained broad-based growth with resilience. M&M said the tractor segment saw its highest-ever quarterly growth, while the auto segment continued its strong growth momentum.

 

EBITDA Growth

M&M reported nearly 16% on-year growth in its June quarter earnings before interest, tax, depreciation and amortisation, or EBITDA, at INR 47.95 billion against INR 41.16 billion a year ago. Analysts had expected M&M's June quarter EBITDA at INR 49.01 billion. While the automotive segment's EBIT improved to INR 22.21 billion against INR 17.98 billion a year ago, the EBIT margin in this segment shrank by 60 basis points on year to 8.9%.

 

The farm segment EBIT for the quarter was at INR 18.19 billion against INR 15.06 billion, while its margins improved by 130 basis points on year to 19.8%. The core margin in tractors alone improved by 100 basis points on year to 20.7%, the company said.

 

M&M's total expenses for the June quarter were up by nearly 27% on year to INR 304 billion. Other expenses were up by nearly 4% on year to INR 19.8 billion. The company's finance cost for the June quarter was up by nearly 6% on year to INR 559 million. Input costs for the quarter were up by 36% on year to INR 250 billion. Employee costs for the June quarter were also up by nearly 11% on year to INR 13 billion.

 

On Wednesday, shares of M&M closed at INR 3,208.90 on the National Stock Exchange, up 0.30% from its previous close.  End

 

Edited by Deepshikha Bhardwaj

 

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