M&M Q2 profit jumps 25% to ₹4,588 crore
What's the story
Mahindra & Mahindra has reported a robust 25% year-on-year increase in its consolidated net profit for the second quarter of FY27. The company's net profit attributable to owners stood at ₹4,588 crore, up from ₹3,673 crore in the same period last year. The impressive growth was largely driven by strong sales in the automotive segment and a significant jump in SUV volumes.
Revenue growth
Consolidated revenue from operations up by 25%
Mahindra & Mahindra's consolidated revenue from operations also witnessed a strong 25% year-on-year growth. The figure jumped to ₹57,553 crore in Q2 FY27, up from ₹46,106 crore in the same quarter last fiscal.
For the half-year ending September 30, 2026, the company's consolidated profit after tax (PAT) attributable to owners was ₹10,042 crore, a 29% increase over last year, while consolidated revenue rose by an impressive 26% to ₹1,15,741 crore.
Segment performance
Automotive segment drives growth, SUV sales soar
The automotive segment was the main growth driver for Mahindra & Mahindra, with a 55% year-on-year increase in consolidated PAT to ₹2,388 crore.
The company sold 183,000 SUVs during Q2, marking a 26% jump over the same period last year.
Despite commodity inflation and weak international demand, Mahindra retained its leadership position in the SUV segment with a revenue market share of 24.3%.
Market challenges
Farm equipment segment sees decline in PAT
The farm equipment segment of Mahindra & Mahindra witnessed a 9% decline in consolidated PAT to ₹1,053 crore. The dip was mainly due to commodity inflation, monsoon deficit, and weak international demand.
Domestic tractor volumes fell by 6% year-on-year in Q2, but the company retained a domestic market share of 43.4% for the first half of this fiscal year.
Financial performance
Growth in financial services sector
Mahindra Financial Services reported a 61% increase in PAT, while Tech Mahindra's PAT grew by a healthy 33%.
The Growth Gems portfolio also delivered an impressive threefold increase in profit.
However, investment income fell by 80% due to monetization activity in the previous year's period.
Future outlook
Mid-to-high teen SUV volume growth expected for FY27
Mahindra & Mahindra has flagged commodity inflation as a near-term margin pressure across both auto and farm segments.
Despite this, the company is optimistic about mid-to-high teen SUV volume growth for FY27, with five new product launches planned by June 2027.
The company's shares were trading at ₹3,134.40 on the NSE, up 5.61% on results day afternoon.