Mahindra & Mahindra (M&M) investor relations material

Executive summary

• Consolidated profit after tax rose 34% year-over-year to ₹5,455 crore, with ROE at 23% and EPS up to ₹48.80; revenue increased 28% to ₹58,188 crore, driven by strong performances across Auto, Farm, Finance, Tech, and Growth Gems.

• Multiple business segments delivered value despite 400-500bps commodity inflation headwinds and global uncertainties.

• Total comprehensive income attributable to owners reached ₹5,512.16 crore, up from ₹4,329.76 crore year-over-year.

Financial highlights

• Auto segment revenue grew 32% to ₹34,387 crore and PAT by 21% to ₹2,129 crore; SUV volumes up 15%, LCV up 20%.

• Farm segment revenue up 15% to ₹12,501 crore, with 18% volume growth and 15% PAT growth; exports up 15%.

• Mahindra Finance PAT up 78% year-over-year; AUM up 13%, disbursements up 22%, NIM at 7.3%, ROA at 2.4%.

• Tech Mahindra EBIT margin expanded to 14.4%, free cash flow up 94%, large deal wins with TCV $1,078mn.

• Growth Gems (Real Estate, Logistics, Aerostructures) PAT tripled, revenue up 39%, GDV pipeline at ₹50,000 crore, pre-sales doubled.

Outlook and guidance

• Plans to double SUV capacity and accelerate EV volume growth; margin improvement expected as commodity prices stabilize.

• Farm segment to focus on new product launches, export acceleration, and expects recovery with seasonal upcycle and potential commodity softening.

• Mahindra Finance targets 70/30 wheels/non-wheels mix by 2031, with ₹3 lakh crore book and sustained ROA of 2.2-2.5%; diversification into mortgage, SME, and insurance.

• Tech Mahindra aims for 15% EBIT margin by FY27, with next phase of growth to be outlined.

• Lifespaces targets ₹10,000 crore pre-sales by FY30, focusing on premium residential in Mumbai, Pune, Bangalore.