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Mahindra & Mahindra Financial Services Limited Q3 FY26 earnings call summary

NSE: M&MFIN · BSE: 532720

Earnings call of 28 Jan 2026, summarised by AI from the filing.

Mahindra Finance Q3 FY26 ROA at 2.5% with onetime benefits, PAT up 59% sequentially, as it pivots to growth with highest-ever Q3 disbursements.

Key takeaways

  1. Credit cost Management reiterates business model can absorb 1.5% to 1.7% credit cost; 9M FY26 at 1.8%.
  2. Competition Declining interest environment to intensify competition; benefits of lower cost of funds to be passed on.

Original filing on BSE

Mahindra & Mahindra Financial Services Limited Q1 FY27 results

As filed: Revenue ₹5,718 cr (+15% year on year), EBITDA ₹3,684 cr (+22% year on year), PAT ₹927 cr (+75% year on year), EBITDA margin 64.4% (+381 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 ₹5,539 cr (+13% year on year), EBITDA ₹3,552 cr (+23% year on year), PAT ₹940 cr (+106% year on year), EBITDA margin 64.1% (+507 bps). Score 70 of 100, Above trend. Revenue growth was below the company's own trend; EBITDA growth was above it; profit growth was well above it. EBITDA margin rose 507 bps year on year. Revenue rose ₹653 cr on a year ago, more than the ₹606 cr it added the year before. Share price after the results: +1.7% in 28 days (Nifty 500: +0.4%).
  • Q3 FY26: Revenue ₹5,450 cr (+14% year on year), EBITDA ₹3,537 cr (+2% year on year), PAT ₹826 cr (0% year on year), EBITDA margin 64.9% (−745 bps). Score 32 of 100, Below trend. Revenue and profit before exceptional items growth were below the company's own trend; EBITDA growth was well below it. EBITDA margin fell 745 bps year on year. Revenue rose ₹653 cr on a year ago, against ₹697 cr the year before. Share price after the results: +5.9% in 30 days (Nifty 500: +0.4%).
  • Q2 FY26: Revenue ₹5,026 cr (+13% year on year), EBITDA ₹3,012 cr (+14% year on year), PAT ₹566 cr (+45% year on year), EBITDA margin 59.9% (+89 bps). Score 53 of 100, In line with trend. Revenue growth was well below the company's own trend; EBITDA growth was below it; profit growth was well above it. EBITDA margin rose 89 bps year on year. Revenue rose ₹561 cr on a year ago, against ₹632 cr the year before. Share price after the results: +21.3% in 30 days (Nifty 500: +0.6%).
  • Q1 FY26: Revenue ₹4,991 cr (+16% year on year), EBITDA ₹3,026 cr (+15% year on year), PAT ₹529 cr (+6% year on year), EBITDA margin 60.6% (−52 bps). Score 44 of 100, In line with trend. Revenue and EBITDA growth were below the company's own trend; profit growth was in line with it. EBITDA margin fell 52 bps year on year. Revenue rose ₹675 cr on a year ago, against ₹733 cr the year before. Share price after the results: −0.8% in 30 days (Nifty 500: −1.0%).
  • Q4 FY25: Revenue ₹4,886 cr (+14% year on year), EBITDA ₹2,886 cr (+5% year on year), PAT ₹456 cr (−32% year on year), EBITDA margin 59.1% (−542 bps). Score 24 of 100, Below trend. Revenue, EBITDA and profit growth were well below the company's own trend. EBITDA margin fell 542 bps year on year. Profit fell 50% from last quarter. Revenue rose ₹606 cr on a year ago, against ₹817 cr the year before. Share price after the results: −7.6% in 30 days (Nifty 500: +2.3%).
  • Q3 FY25: Revenue ₹4,797 cr (+17% year on year), EBITDA ₹3,471 cr (+31% year on year), PAT ₹918 cr (+47% year on year), EBITDA margin 72.4% (+787 bps). Score 70 of 100, Above trend. Revenue growth was below the company's own trend; EBITDA and profit growth were well above it. EBITDA margin rose 787 bps year on year. Revenue rose ₹697 cr on a year ago, against ₹776 cr the year before.
  • Q2 FY25: Revenue ₹4,465 cr (+16% year on year), EBITDA ₹2,636 cr (+25% year on year), PAT ₹390 cr (+36% year on year), EBITDA margin 59.0% (+401 bps). Score 74 of 100, Above trend. EBITDA margin rose 401 bps year on year. Not enough history for a trend yet: scored on growth alone. Profit fell 22% from last quarter.

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

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

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