News ArticleMahindra & Mahindra Ltd Posts 25% Growth in Q2 Fiscal 2027 Revenue and PAT with 21% RoE
Auto and farm sectors show resilience amid inflation and supply chain pressures; company plans 5x-25x scaling of businesses this decade
Mahindra & Mahindra Ltd delivered strong financial performance for Q2 and H1 Fiscal 2027 with a 25% increase in revenue and PAT. The company reported a 21% annualised return on equity, driven by growth across auto, farm, financial services, and tech segments amidst inflationary and supply chain challenges. Proactive measures helped sustain margins with accelerated growth plans through scaling multiple business verticals this decade.
Mahindra & Mahindra Ltd
Investor Presentation
Mahindra & Mahindra Ltd reported a 25% increase in consolidated revenue and profit after tax (PAT) for the second quarter ended 30th September 2026. The company achieved an annualised return on equity (RoE) of 21%, driven by strong performance across its automotive, farm equipment, financial services, and tech businesses despite short-term challenges like commodity inflation and supply chain constraints.
The company reported consolidated revenue of Rs 57,553 crore and PAT of Rs 4,588 crore for Q2 Fiscal 2027 compared to Rs 46,106 crore and Rs 3,673 crore respectively in the same quarter last year.
The automotive segment showed volume growth and maintained market share, although its margins were pressured by inflation and supply chain issues. Capacity is set to increase by 27% by the end of Fiscal 2027.
The farm sector experienced a 9% decline in PAT mainly due to volume decreases and commodity inflation but continued to expand exports and product refresh efforts.
Mahindra Finance grew its PAT by 61% with increased volumes and improved asset quality reflected in a Gross Stage 3 ratio of 3.42%. The technology segment grew PAT by 33%, driven by margin expansion and strong deal wins.
The company highlighted proactive actions to mitigate inflationary headwinds, including price increases in auto and farm businesses, cost measures, and operational leverage to sustain margin strength in the coming quarters.
Highlights
- Consolidated revenue increased 25% to Rs 57,553 crore in Q2 Fiscal 2027.
- Consolidated PAT rose 25% to Rs 4,588 crore in the same period.
- Annualised Return on Equity (RoE) stands at 21% for the half year.
- Automotive segment capacity to grow 27% by Fiscal 2027 exit to meet demand.
- Farm equipment segment market share at 43.4% domestically, with exports up 16% in H1.
- Mahindra Finance AUM increased 15%, and PAT rose 61% in Q2 Fiscal 2027 as asset quality improved.
Key Data Snapshot
What happened
- Mahindra & Mahindra Ltd reported 25% year-on-year growth in consolidated revenue and profit after tax for the quarter ended 30th September 2026.
- The company’s annualised return on equity reached 21% during the first half of Fiscal 2027.
- The growth was supported by strong performances from core segments including automotive, farm equipment, financial services and technology despite inflation and supply chain challenges.
- Proactive price increases and cost management helped mitigate margin pressures.
- The company plans to accelerate growth by scaling businesses between 5 and 25 times this decade.
Key details
- Consolidated revenue rose from Rs 46,106 crore in Q2 Fiscal 2026 to Rs 57,553 crore in Q2 Fiscal 2027.
- Consolidated PAT increased from Rs 3,673 crore to Rs 4,588 crore over the same period.
- Auto sector volumes grew with a capacity expansion plan of 27% by Fiscal 2027 to address supply constraints.
- Farm equipment segment saw a 9% decline in PAT due to volume drops and commodity inflation but maintained a 43.4% domestic market share and increased exports by 16% year-on-year.
- Mahindra Finance improved asset quality with GS3 ratio reducing by 52 basis points to 3.42% and increased disbursements and profitability.
- Technology business expanded PAT by 33% driven by margin improvements and strong deal wins.
Operational performance
- Auto sector faced short-term margin pressure due to commodity inflation and supply chain constraints but maintained market share and ramped up capacity.
- Farm sector confronted monsoon deficits and international demand fluctuations but pursued exports and product enhancements to mitigate these.
- Financial services segment grew assets under management by 15% and improved profitability with robust risk management.
- Technology segment leveraged AI adoption and partnerships to capture deal wins amid muted industry growth.
Business impact
- Price increases in auto (5%Jan-Jul 2026) and farm (4% Apr-Aug 2026) segments helped offset inflationary headwinds.
- Cost optimization and operational leverage are expected to keep consolidated margins strong in upcoming quarters.
- Core tractor segment margin pressure anticipated in Q3 but expected to improve by Q4 Fiscal 2027 and normalize in Fiscal 2028.
- The company is focused on sustained profitable growth and scaling multiple business verticals substantially this decade.
Highlights
- Consolidated revenue increased 25% to Rs 57,553 crore in Q2 Fiscal 2027.
- Consolidated PAT rose 25% to Rs 4,588 crore in the same period.
- Annualised Return on Equity (RoE) stands at 21% for the half year.
- Automotive segment capacity to grow 27% by Fiscal 2027 exit to meet demand.
- Farm equipment segment market share at 43.4% domestically, with exports up 16% in H1.
- Mahindra Finance AUM increased 15%, and PAT rose 61% in Q2 Fiscal 2027 as asset quality improved.
Disclosures
- Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
Source Information
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