News ArticleMahindra & Mahindra Q2 Fiscal 2027 Consolidated PAT Increases 25% to Rs 4,588 Crore with Leading SUV and Tractor Market Shares
Company reports 25% revenue growth to Rs 57,553 crore and 55% standalone auto PAT rise while maintaining strong positions in key vehicle segments
Mahindra & Mahindra reported a 25% increase in consolidated PAT to Rs 4,588 crore for Q2 fiscal year 2027 ended September 30, driven by strong performance in automotive and finance sectors. The company maintained market leadership with 24.3% revenue share in SUVs, 41.5% in tractors, and 52.3% in light commercial vehicles under 3.5 tons. Standalone auto business PAT rose 55%, while Mahindra Finance grew AUM by 15%. Tech Mahindra EBIT margin improved to 14.8%. Consolidated revenue rose 25% to Rs 57,553 crore, with robust operational metrics despite some decline in farm revenues due to seasonal,
Mahindra & Mahindra Ltd.
General / Other
Mahindra & Mahindra Ltd. announced its unaudited consolidated financial results for the quarter ended September 30, 2026, reporting a 25% year-on-year increase in profit after tax (PAT) to Rs 4,588 crore on revenues of Rs 57,553 crore, supported by strong automotive and financial services performances alongside sustained market leadership in SUVs, tractors, and light commercial vehicles.
The consolidated financial results showed consolidated revenue of Rs 57,553 crore, up 25% from Rs 46,106 crore in the same quarter last year. Consolidated PAT increased 25% year-on-year from Rs 3,673 crore to Rs 4,588 crore.
Mahindra's automotive business witnessed a 26% increase in quarterly vehicle volumes to 331,000 units, with SUV revenue market share at 24.3%. Standalone auto operating profit before interest and taxes (PBIT) rose 15% to Rs 2,614 crore, while consolidated auto PAT increased 55% to Rs 2,388 crore.
The farm segment, maintaining a market share of 41.5%, recorded volumes of 116,000 units but experienced a 6% decrease in consolidated revenue to Rs 9,572 crore and a 9% decrease in PAT to Rs 1,053 crore, mainly attributed to a shift in festive season sales timing.
Mahindra Finance (MMFSL) grew its assets under management (AUM) by 15% and improved its gross stage 3 (GS3) to 3.42%, with PAT rising 61%. Tech Mahindra improved its EBIT margin by 260 basis points to 14.8%, accompanied by a 33% increase in PAT, reflecting ongoing margin expansion.
Other service businesses also performed well, with Mahindra Lifespaces reporting a 41% rise in residential pre-sales and Mahindra Logistics revenue up 24%, while its PAT turned positive and tripled compared to the prior year quarter.
Highlights
- Consolidated revenue grew 25% to Rs 57,553 crore in Q2 FY27.
- Consolidated PAT increased 25% to Rs 4,588 crore.
- Automotive quarterly volumes rose 26% to 331,000 units, SUV market share at 24.3%.
- Standalone auto PBIT up 15% to Rs 2,614 crore; PAT up 55% to Rs 2,388 crore.
- Farm segment market share at 41.5%, revenues down 6%, PAT down 9%.
- Mahindra Finance AUM increased 15%, PAT up 61%, GS3 at 3.42%. Tech Mahindra EBIT margin improved to 14.8%, PAT up 33%.
Key Data Snapshot
What happened
- Mahindra & Mahindra reported strong consolidated financial results for quarter ending September 30, 2026, showing 25% growth in both revenue and PAT compared to prior year.
- The company maintained leadership positions across multiple vehicle segments including SUVs, light commercial vehicles, and tractors.
- All major business segments including Automotive, Farm, Finance, and Tech Services showed varied growth and operational performance.
- Management attributed growth to disciplined execution amid macroeconomic volatility.
Key details
- Automotive volumes grew 26% to 331,000 units in the quarter, with SUVs recording 24.3% revenue market share.
- Standalone auto operating profit increased 15%, and PAT grew 55% to Rs 2,388 crore.
- The Farm segment held a strong 41.5% market share but saw revenue and PAT decline due to a festive season sales shift.
- Mahindra Finance’s assets under management rose 15%, with a Gross Stage 3 asset ratio of 3.42% and a 61% PAT increase.
- Tech Mahindra improved EBIT margin by 260 basis points to 14.8%, driving a 33% rise in PAT.
Business impact
- The performance underscores the company’s operational resilience and growth across diversified sectors despite macroeconomic headwinds.
- Continued leadership in SUV and tractor markets supports Mahindra & Mahindra’s dominant market position.
- Financial services growth, including Mahindra Finance and Tech Mahindra, complements core vehicle business expansion.
- The group’s focus on profitable growth includes margin expansion in auto and technology services and strengthening finance business quality and scale.
Next milestones
- Company to continue executing on growth strategies amid macroeconomic challenges.
- Focus remains on leveraging strong balance sheet to invest in future opportunities for sustainable value creation.
- Upcoming quarterly results will be closely watched for momentum in farm sector recovery and sustained auto sector growth.
Highlights
- Consolidated revenue grew 25% to Rs 57,553 crore in Q2 FY27.
- Consolidated PAT increased 25% to Rs 4,588 crore.
- Automotive quarterly volumes rose 26% to 331,000 units, SUV market share at 24.3%.
- Standalone auto PBIT up 15% to Rs 2,614 crore; PAT up 55% to Rs 2,388 crore.
- Farm segment market share at 41.5%, revenues down 6%, PAT down 9%.
- Mahindra Finance AUM increased 15%, PAT up 61%, GS3 at 3.42%. Tech Mahindra EBIT margin improved to 14.8%, PAT up 33%.
Disclosures
- SEBI Listing Obligations and Disclosure Requirements Regulations, 2015
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