Mahindra & Mahindra Reports 28% Increase in Q2 Profits

Mahindra & Mahindra Limited (M&M) has disclosed its financial results for the quarter ending September 30, 2025, indicating a robust performance across its various business divisions. The company reported a consolidated profit after tax (PAT) of ₹3,673 crore, reflecting a significant increase of 28% compared to the same period last year, as stated in a press release by the company.

The financial services division of Mahindra & Mahindra experienced a remarkable 45% growth in profit after tax, while maintaining strong asset quality. Tech Mahindra, the group's technology subsidiary, also performed well, with an improvement in earnings before interest and tax (EBIT) by 250 basis points.

Anish Shah, Group Chief Executive Officer and Managing Director of Mahindra & Mahindra, remarked, "We are pleased with the strong execution and solid performance delivered across the group in Q2 of the financial year 2025-26. Our Auto and Farm segments have sustained their leadership positions, achieving consistent gains in market share and profitability. Tech Mahindra is advancing well on its transformation journey."

In the automotive sector, Mahindra sold 262,000 vehicles during the quarter, marking a 13% increase in sales volume. The sales of Utility Vehicles (UVs) reached 146,000 units, allowing the company to capture a 25.7% share of the Sports Utility Vehicle (SUV) market, which is an increase of 390 basis points from the previous year. The standalone profit before interest and tax for the Auto segment was ₹2,281 crore, a 14% rise, with profit margins improving to 9.2%. Consolidated revenue from auto operations surged by 25% to ₹27,171 crore, while profit after tax for this segment increased by 8% to ₹1,536 crore.

Rajesh Jejurikar, Executive Director and Chief Executive Officer of the Auto and Farm Sector, commented, "The strong performance of our Auto and Farm businesses continues in Q2 of the financial year 2025-26, reinforcing our leadership position. We have gained 390 basis points year-on-year in SUV revenue share and 50 basis points in tractor market share."

The Farm equipment division achieved its highest-ever market share for a second quarter at 43%, with tractor sales rising by 32% to 123,000 units. The standalone profit before interest and tax for this segment increased by 48% to ₹1,684 crore, while revenue rose by 25% to ₹10,225 crore. The consolidated profit after tax for the Farm division grew by 45% to ₹1,163 crore.

In the Services sector, Mahindra Finance demonstrated strong profitability, with a 45% increase in profit after tax and asset quality (Gross Stage 3) remaining below 4%. Tech Mahindra reported an EBIT margin of 12.1%, an increase of 250 basis points. Mahindra Lifespaces achieved pre-sales of ₹752 crore and doubled its gross development value to ₹1,700 crore. Club Mahindra recorded a 73% occupancy rate, while Mahindra Logistics experienced an 11% revenue growth to ₹1,685 crore. Overall, the Services segment reported revenue of ₹10,048 crore, a 12% increase, and a profit after tax of ₹975 crore.

Amarjyoti Barua, Group Chief Financial Officer, stated, "Our solid Q2 consolidated results reflect the strength of our diversified portfolio. We remain committed to sustainable growth and value creation."