More Stories

Informist, Tuesday, Nov. 4, 2025

 

Please click here to read all liners published on this story

--M&M Jul-Sept net profit INR 45.21 bln 
--Analysts saw M&M Jul-Sept net profit at INR 40.20 bln 
--M&M Jul-Sept revenue INR 350.80 bln 
--Analysts saw M&M Jul-Sept revenue at INR 339.69 bln 
--M&M Jul-Sept net profit INR 45.21 bln vs INR 38.41 bln year ago 
--M&M Jul-Sept revenue INR 350.80 bln vs INR 289.19 bln year ago 
--M&M Apr-Sept net profit INR 79.70 bln vs INR 64.54 bln year ago 
--M&M Apr-Sept revenue INR 692.23 bln vs INR 560.52 bln year ago 
--M&M Jul-Sept operating margin 18.44% vs 18.22% year ago 
--M&M Jul-Sept automotive revenue INR 249.29 bln vs INR 211.10 bln year ago 
--M&M Jul-Sept farm equipment revenue INR 85.40 bln vs INR 64.97 bln year ago 
--M&M Jul-Sept EBITDA INR 64.67 bln vs INR 52.70 bln year ago 
--M&M Jul-Sept auto EBIT INR 22.81 bln, up 14% on year 
--M&M Jul-Sept auto EBIT margin 9.2%, up 80 bps on year 
--M&M Jul-Sept farm equipment EBIT INR 16.84 bln, up 48% on year 
--M&M Jul-Sept farm equipment EBIT margin 19.7%, up 220 bps on year 
--M&M Q2 SUV revenue market share 25.7%, up 390 bps on year 
--M&M Jul-Sept farm ops market share 43%, up 50 bps on year 
--M&M Jul-Sept core tractor EBIT margin 20.6%, up 190 bps on year 
 

 

By Anjana Therese Antony

 

MUMBAI – Broad-based growth and higher market share across its various business verticals led Mahindra & Mahindra Ltd. to post double-digit growth in its key earnings metrics for the September quarter. The financial performance of the company also beat the Street's expectations by a wide margin. 

 

For the September quarter, the company's net profit rose almost 18% on year to INR 45.21 billion, beating the Street's estimate of over INR 40 billion. Its revenue grew 21% from the year-ago period to INR 350.80 billion, also higher than analysts' estimate of almost INR 340 billion. Sequentially, the bottom line increased 31% and the top line rose almost 3%. 

 

"Auto and Farm sustained their leadership with consistent gains in market share and profitability," Anish Shah, group chief executive officer and managing director, was quoted as saying in a press release. The company's core automotive segment's market share grew 390 basis points on year to 25.7% and that of the farm business grew 50 bps to 43%. 

 

During the reporting quarter, the auto manufacturer's earnings before interest, tax, depreciation, and amortisation increased 23% on year to INR 64.67 billion and the operating margin increased to 18.44% from 18.22% in the year-ago period. For the six months ended September, the Mumbai-based entity's bottom line and the top line both rose 24% on year to INR 79.70 billion and INR 692.23 billion, respectively. 

 

Following the higher-than-expected results, shares of M&M rose more and hit an intraday high of INR 3,632.80 on the National Stock Exchange. Its shares closed almost 1% higher on Tuesday at INR 3,581.20 on the National Stock Exchange. 

 

SEGMENTS

The company's revenue from the core automotive business, which accounted for over 70% of its overall top line in the reporting quarter, increased 18% from the year-ago quarter to INR 249.29 billion and the profitability of this vertical rose 14% to INR 22.81 billion. Its EBIT margin expanded 80 bps on year to 9.2%. During the quarter, M&M completed the acquisition of SML Isuzu Ltd. which is primarily engaged in manufacturing and selling light commercial vehicles and medium commercial vehicles. 

 

The company's sport utility vehicle volume was more than 145,000 units, higher than the 136,000 units sold in the year-ago quarter. In the electric vehicle industry, M&M said it had the highest market share of 37.9% during the six months ended September. 

 

Farm equipment, the company's second-biggest business division, posted a 31% on-year rise in revenue at INR 85.40 billion during the quarter. The segment's EBIT rose 48% to INR 16.84 billion and the EBIT margin expanded by 220 bps to 19.7% during the quarter. The core tractor operations' EBIT margin increased 190 bps to 20.6%. 

 

The EBIT margin for the standalone farm business increased to 1.97% from 17.5% a year ago. The sales volume of M&M's farm business increased 32% on year to 123,000 and reported its highest-ever market share in Apr-Sept at 44.1%, the company said in an investor presentation. Revenue from the farm machinery business increased 30% on year to INR 3.30 billion, its highest-ever quarterly revenue, the company said. 

 

The company's post-earnings call with analysts is scheduled at 1530-1700 IST. Investors will closely monitor the management's comments, including on the business outlook, demand trends, margin growth, and market share.  End

 

Edited by Avishek Dutta

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2025. All rights reserved.