| Automotive | Manufacture and sale of utility vehicles, SUVs, commercial vehicles, and electric vehicles. | Strong brand equity, wide distribution network, innovation in EVs, and market leadership. | B2C and B2B focusing on personal and commercial vehicle buyers. | Premium SUVs and EV segments. | 90824 | 57 | Vehicle sales, after-sales services, and spare parts. | Direct sales with various pricing tiers depending on product and market segment. | Growing SUV demand, modernization of commercial fleets, EV adoption, new product launches. | Thar, Scorpio, XUV300, XUV700, Bolero, Pik Up, Jeeto |
| Farm Equipment | Tractors and farm equipment including harvesters and mechanization solutions. | Market leader with strong dealer network, brand loyalty, and wide product portfolio. | Primarily B2B and B2C in rural and agricultural sectors. | Mid to high horsepower tractors and value-added farm machinery. | 35375 | 22 | Sales of tractors and farm machinery, spare parts, and service offerings. | Direct sales with product variation by horsepower and features. | Rural demand growth, mechanization drives, new product launches, and exports growth. | Mahindra and Swaraj tractors |
| Financial Services | Wholesale and retail financing for vehicles, loans, insurance, and investment products. | Extensive rural distribution network, strong brand in finance, robust risk management. | Primarily B2B and B2C serving rural, semi-urban clients and vehicle buyers. | Vehicle financing and microfinance segments. | 18296 | 12 | Interest income, fees, and commissions from lending and financial services. | Interest and fee-based revenue streams from loan assets under management. | Expansion of rural financial inclusion, cross selling, improved credit quality. | Mahindra Finance |
| Industrial Businesses and Consumer | Power backup solutions, construction equipment, two-wheelers and consumer products. | Technological edge, brand recognition, service network, and product diversification. | B2B and B2C including industrial users and retail consumers. | Premium consumer brands and construction equipment. | 18971 | 12 | Sales, services, and licensing revenues. | Direct sales and after-sales services. | Infrastructure development, product innovation, new two-wheeler launches. | Mahindra Powerol, Mahindra EarthMaster, Classic Legends (Jawa, BSA) |
