Mumbai, India – Mahindra & Mahindra Ltd (M&M) announced a strong financial performance for the second quarter of fiscal year 2027 (Q2 FY27), ending September 30, 2026. The automotive and farm equipment major's consolidated profit after tax (PAT) climbed 25% year-on-year (YoY) to ₹4,588 crore, up from ₹3,673 crore in the same period last year.
Consolidated revenue for the quarter also saw a significant increase, growing 25% YoY to ₹57,553 crore, compared to ₹46,106 crore in Q2 FY26. Following the positive earnings announcement on Thursday, November 5, M&M's shares surged over 6.5% to ₹3,143.95, pushing the company's market capitalization to ₹3.9 lakh crore.
Strong Performance Across Segments
On a standalone basis, M&M reported a net profit of ₹5,102 crore, an increase of 13% YoY. Standalone revenue grew 26% YoY to ₹44,282 crore, with EBITDA rising 4% YoY to ₹6,718 crore.
The company's total vehicle sales volumes showed robust growth, increasing 26% YoY to 3,30,896 units. However, tractor sales experienced a slight decline of 6% YoY, totaling 1,16,027 units for the quarter. M&M maintained its leading market positions in several key segments, holding 24.3% in SUVs, 52.3% in LCVs, and 41.5% in tractors. Its revenue market share in electric SUVs stood at 30.1%, and in electric three-wheelers, it was 36.2%. The company's Return on Equity (RoE) for the quarter was 21%.
Leadership Commentary
“Our Q2 FY27 consolidated PAT growth of 25 per cent reflects the resilience of our group and underlines disciplined execution across businesses. Auto continued to grow on the back of strong consumer demand, while Farm experienced a marginal decline on account of the shift in the festive season,” said Anish Shah, Group CEO and Managing Director of M&M.
The company highlighted that its Auto business delivered a strong PAT growth of 55%, while the Farm business's decline was attributed to a shift in the festive season calendar. Each business unit continues its growth trajectory, supported by proactive measures designed to navigate macroeconomic volatility.