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Informist, Wednesday, Feb. 11, 2026

 

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--M&M: Two light commercial vehicles in launch pipeline for calendar yr 2026 
--CONTEXT: M&M management's comments in post-earnings press conference 
--M&M: All BE-6 variants expected to qualify for PLI scheme 
--M&M: See strong demand for XUV 7XO, XEV 9S 
--M&M: Will not launch any new EV in calendar year 2026 
--M&M: Dealership inventory levels currently below desired 25-30 days 
--M&M: Recent 1% hike should cover impact from increase in commodity prices 
--M&M: Plan phased capacity addition of 100,000 tractors at Nagpur plant 
--M&M: Plan phased capacity addition of 500,000 SUVs at Nagpur plant 
--M&M: XUV 3XO, Bolero Neo at capacity limit

 

MUMBAI/NEW DELHI – Mahindra & Mahindra Ltd.'s current dealership inventory levels in the automotive segment are around 15-20 days depending on product line, below the level of 25-30 days desired by the company, Executive Director and Chief Executive Officer, automobiles and farm sector, Rajesh Jejurikar told a post-earnings press conference in Mumbai Wednesday.

 

"We have a very wide variety of products with versions...," Jejurikar said. "When you look at average stock it is also based on how much variety your product portfolio is offering, so typically we would expect our dealer stock to be close to 30 days, it is lower than that. So over a period of time we would want to bring our stock back up to higher levels."

 

The company reported a net profit of INR 39.31 billion for the December quarter, up around 33% on year. Its revenue from operations rose over 26% on year to INR 385.17 billion, the highest pace of on-year revenue growth in 11 quarters.

 

M&M is not planning to launch any new electric vehicle in the calendar year 2026. However, it has two light commercial vehicles and two internal combustion engine sport utility vehicles scheduled for launch in the year, the mangement said. The company is seeing strong demand for some of its products such as the XUV 7XO and XEV 9S, which are witnessing good response in north India. 

 

"...multiple things have worked for us, bringing in the three screen across all variants, a significant improvement in the ride quality through the Da Vinci suspension, the interiors have been very well received..." the management said.

 

All variants of M&M's XEV 9E have qualified for the production-linked incentive scheme and all variants of the BE 6 model are expected to get approval for the scheme by the first quarter of the financial year 2026-27 (Apr-Mar).

 

The company had recently announced that it would set up a factory in Nagpur, Maharashtra, to manufacture tractors and automobiles. The unit, which is expected to start production in 2028, will be developed across 1,500 acres, the management said. When fully operational, it will have an annual production capacity of 500,000 vehicles and 100,000 tractors. "We also will make a new portfolio of SUVs there which will move up to 500,000 over a period of time," the management said. "We will design the plant in a way that capacities can be set up in a phased and modular way."

 

M&M's XUV 3XO model, which is getting good traction in export markets, and the Bolero Neo model have reached capacity limits. The company is trying to look for de-bottlenecking in specific areas, either in its plants or in engine capacities, which is expected to unlock an additional capacity of around 3,000-5,000 per month, it said.

 

The rise in prices of commodities is not going to have much of an impact on the company as it had recently increased prices of its automobiles by 1%, the management said. "...we have just announced one percent approximately one percent price increase in auto which we believe will take care of this in the immediate short term."  End

 

Reported by Ashutosh Pati and Shakshi Jain

Edited by Rajeev Pai

 

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