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Mahindra & Mahindra Limited Q2 FY26 results deck summary

NSE: M&M · BSE: 500520

Results deck of 4 Nov 2025, summarised by AI from the filing.

No forward guidance was provided in the presentation

Key takeaways

  1. Guidance No forward guidance was provided in the presentation
  2. Change Auto impacted by GST transition; Farm led with PAT +54%
  3. Driver Farm volumes +32% and Auto volumes +13% drove growth
  4. Risk Auto impacted by GST transition

Original filing on BSE

Mahindra & Mahindra Limited Q1 FY27 results

As filed: Revenue ₹58,188 cr (+28% year on year), EBITDA ₹10,565 cr (+28% year on year), PAT ₹5,998 cr (+37% year on year), EBITDA margin 18.2% (+8 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹54,982 cr (+29% year on year), EBITDA ₹9,716 cr (+23% year on year), PAT ₹5,260 cr (+49% year on year), EBITDA margin 17.7% (−90 bps). Score 73 of 100, Above trend. Revenue and profit growth were well above the company's own trend; EBITDA growth was in line with it. EBITDA margin fell 90 bps year on year. Share price after the results: −2.9% in 30 days (Nifty 500: −1.5%).
  • Q3 FY26: Revenue ₹52,100 cr (+26% year on year), EBITDA ₹10,107 cr (+23% year on year), PAT ₹5,021 cr (+39% year on year), EBITDA margin 19.4% (−45 bps). Score 70 of 100, Above trend. Revenue and profit growth were well above the company's own trend; EBITDA growth was in line with it. EBITDA margin fell 45 bps year on year. Profit rose ₹1,397 cr on a year ago, more than the ₹647 cr it added the year before. Share price after the results: −20.3% in 30 days (Nifty 500: −9.9%).
  • Q2 FY26: Revenue ₹46,106 cr (+22% year on year), EBITDA ₹8,929 cr (+25% year on year), PAT ₹3,964 cr (+18% year on year), EBITDA margin 19.4% (+55 bps). Score 65 of 100, Above trend. Revenue growth was well above the company's own trend; EBITDA and profit growth were above it. EBITDA margin rose 55 bps year on year. Tax rate 37%. Profit fell 9% from last quarter. Revenue rose ₹8,182 cr on a year ago, more than the ₹3,488 cr it added the year before. Share price after the results: +3.5% in 30 days (Nifty 500: −0.3%).
  • Q1 FY26: Revenue ₹45,529 cr (+22% year on year), EBITDA ₹8,228 cr (+14% year on year), PAT ₹4,377 cr (+23% year on year), EBITDA margin 18.1% (−139 bps). Score 60 of 100, In line with trend. Revenue growth was well above the company's own trend; EBITDA growth was well below it; profit growth was above it. EBITDA margin fell 139 bps year on year. Share price after the results: −0.3% in 30 days (Nifty 500: −2.5%).
  • Q4 FY25: Revenue ₹42,599 cr (+20% year on year), EBITDA ₹7,911 cr (+20% year on year), PAT ₹3,542 cr (+13% year on year), EBITDA margin 18.6% (−5 bps). Score 61 of 100, In line with trend. Revenue growth was well above the company's own trend; EBITDA growth was below it; profit growth was in line with it. EBITDA margin was flat year on year. Share price after the results: +4.3% in 30 days (Nifty 500: +3.6%).
  • Q3 FY25: Revenue ₹41,470 cr (+17% year on year), EBITDA ₹8,231 cr (+32% year on year), PAT ₹3,624 cr (+22% year on year), EBITDA margin 19.9% (+222 bps). Score 78 of 100, Above trend. Revenue and EBITDA growth were well above the company's own trend; profit growth was above it. EBITDA margin rose 222 bps year on year.
  • Q2 FY25: Revenue ₹37,924 cr (+10% year on year), EBITDA ₹7,134 cr (+25% year on year), PAT ₹3,361 cr (+35% year on year), EBITDA margin 18.8% (+217 bps). Score 67 of 100, Above trend. EBITDA margin rose 217 bps year on year. Not enough history for a trend yet: scored on growth alone. Profit fell 5% from last quarter.

Past price moves after results do not indicate future moves. Not a recommendation.

Mahindra & Mahindra Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.