Mahindra FY26 profit jumps 32% to Rs17,099 cr as revenue nears Rs2 lakh cr
Mahindra & Mahindra posted FY26 consolidated net profit up 32% to Rs17,099 cr, with revenue at Rs1.98 lakh cr (up 25%). Auto revenue rose 25% to Rs1.09 lakh cr, EV share hit 9.6% in Q4, and the group claimed the No.1 SUV spot with 25.3% revenue market share. Exports rose 19% to 40,106 units.
What happened
Mahindra & Mahindra reported FY26 consolidated net profit up 32% to Rs17,099 cr and revenue near Rs2 lakh cr. Auto business grew 25%, EV share rose to 9.6%, and
Key facts
- net profit Rs17,099 cr up 32%
- revenue Rs1.98 lakh cr up 25%
- auto revenue Rs1.09 lakh cr up 25%
- EV share 9.6% in Q4 FY26
- 25.3% SUV revenue market share
- exports 40,106 units up 19%
Why this matters
With No.1 SUV positioning, rising EV mix, and 19% export growth to 40,106 units, Mahindra is well-placed to pursue EV supply-chain and overseas-market partnerships to extend its leadership.
What to watch
- Q4 EV unit economics and gross margin disclosure
- FY27 SUV volume guidance and order backlog trends
- Monthly wholesale dispatch data for share durability
- Tractor/farm-equipment segment monsoon-linked demand
- Export market expansion announcements
- Sell-side raises FY27 EPS and target prices on SUV share gains
- Peers (Tata Motors, Maruti) face comparative SUV-share questions
- Management commentary pivots to EV capacity and capex roadmap
- Ancillary/auto-component suppliers see order-book optimism