The revenue from operations was posted at Rs 45,885.40 crore, against Rs 37,689.04 crore in the second quarter of FY25.
It is to be noted that the PAT is attributable to the owners of the company.
On a standalone basis, the car-maker reported a 17.7% YoY surge in its net profit at Rs 4,520.52 crore. Meanwhile, the revenue was up by 21.3% YoY to Rs 33,421.60 crore, up from Rs 27,553.26 crore from the corresponding quarter of the previous financial year.
The company posted an annualised Return on Equity (RoE) of 19.4% for the quarter. M&M maintained its leadership position in several key vehicle segments:
- #1 in SUVs, with a revenue market share of 25.7%, marking a 390 basis points (bps) increase year-on-year.
- #1 in Light Commercial Vehicles (
- #1 in Tractors, capturing 43.0% market share, an increase of 50 bps.
- #1 in Electric 3-Wheelers, with a market share of 42.3%.
In the financial services segment, Mahindra Finance (MMFSL) reported a 45% year-on-year growth in Profit After Tax (PAT), with gross stage 3 assets (GS3) remaining stable below 4%.
Meanwhile, Tech Mahindra posted an EBIT margin of 12.1%, representing a 250 bps improvement.
Segment-wise performance snapshot
Auto segment
Mahindra & Mahindra’s Auto segment reported total quarterly volumes of 2,62,000 units, which includes sales by LMM & MEAL, reflecting a 13% year-on-year growth. Within this, UV volumes stood at 1,46,000. The company’s Q2 SUV revenue market share rose to 25.7%, up by 390 basis points (bps).
Standalone PBIT for the Auto division came in at Rs 2,281 crore, marking a 14% increase, while the PBIT margin stood at 9.2%. Excluding eSUV contract manufacturing, the margin expanded to 10.3%, up 80 bps.
The segment reported consolidated revenue of Rs 27,171 crore, up 25% YoY, and consolidated PAT of Rs 1,536 crore, showing an 8% growth.
Farm segment
The Farm division saw its highest-ever Q2 market share at 43%, an increase of 50 bps, with volumes at 1,23,000 units, rising 32% YoY.
The standalone PBIT for the Farm segment grew 48% to Rs 1,684 crore, with the PBIT margin reaching 19.7%, up by 220 bps.
Consolidated revenue rose 25% YoY to Rs 10,225 crore, while consolidated PAT surged 45% to Rs 1,163 crore.
Services
In the Services segment, Mahindra Finance (MMFSL) reported a 45% rise in PAT, with Gross Stage 3 assets remaining stable at below 4%.
Tech Mahindra posted an EBIT margin of 12.1%, up by 250 bps.
Mahindra Lifespaces reported residential pre-sales of Rs 752 crore and acquired GDV worth Rs 1,700 crore, representing a 2.6x growth.
Club Mahindra maintained 73% occupancy with robust room key utilisation.
Mahindra Logistics recorded revenue of Rs 1,685 crore, up 11%.
Overall consolidated services revenue stood at Rs 10,048 crore, up 12% YoY, while consolidated PAT rose 3% to Rs 975 crore.
“We are pleased with the strong execution and solid performance delivered across the group in Q2’F26. Auto and Farm sustained their leadership with consistent gains in market share and profitability. TechM is progressing well on its transformation journey. MMFSL achieved a 45% PAT growth and remains committed to quality growth and digital transformation. Our Growth Gems are steadily advancing towards their ambitious goals, reinforcing our long-term value creation potential,” said Anish Shah, Group CEO & Managing Director, M&M, while commenting on the company’s Q2 results.