Mahindra & Mahindra's Q2 FY 2025-26 Quarterly Results

Result Summary

• Mahindra & Mahindra Ltd reported a 0.7% quarter-on-quarter (QoQ) increase in its consolidated revenues for the quarter-ended Sep (Q2 FY 2025-26). On a year-on-year (YoY) basis, it witnessed a growth of 21.2%.
• Its expenses for the quarter were down by 0.2% QoQ and up 20.1% YoY.
• The net profit decreased 9.4% QoQ and increased 17.9% YoY.
• The earnings per share (EPS) of Mahindra & Mahindra Ltd stood at 32.51 during Q2 FY 2025-26.

Financial Statments for Q2 FY 2025-26

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Data Source: BSE, Company announcements The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results

Company Overview

Mahindra & Mahindra Ltd, commonly referred to as M&M, is a leading Indian multinational corporation primarily engaged in the automotive and farm equipment sectors. The company is well-known for manufacturing a range of automobiles including SUVs, commercial vehicles, and two-wheelers, as well as farm equipment like tractors. M&M has diversified its interests into sectors such as finance, IT, and real estate, among others. Headquartered in Mumbai, India, Mahindra & Mahindra has a significant presence both domestically and internationally. Recently, the company has been focusing on expanding its electric vehicle lineup and adopting sustainable practices across its operations. However, specific recent developments beyond my training data are not available.

Revenue

In the second quarter of the financial year 2026 (Q2FY26), Mahindra & Mahindra Ltd reported a total income of ₹46,781.18 crores. This represents a modest quarter-over-quarter (QoQ) increase of 0.7% from ₹46,446.11 crores in the first quarter of FY26 (Q1FY26). Year-over-year (YoY), the company experienced a robust growth of 21.2% compared to ₹38,582.96 crores in Q2FY25. The consistent rise in income indicates the company's ability to sustain and grow its revenue base over the past year.

Profitability

For Q2FY26, Mahindra & Mahindra Ltd recorded a profit before tax (PBT) of ₹5,588.68 crores, which is an 8.2% increase from the previous quarter's PBT of ₹5,165.97 crores. The YoY growth in PBT is 30.8%, up from ₹4,273.61 crores in Q2FY25, highlighting significant profitability improvements. Despite this, the profit after tax (PAT) declined by 9.4% QoQ to ₹3,963.75 crores from ₹4,376.58 crores in Q1FY26, though it increased by 17.9% YoY from ₹3,361.06 crores in Q2FY25. The tax expenses surged by 65.2% QoQ and 51.9% YoY, impacting the net profitability. Earnings per share (EPS) also decreased by 10.8% QoQ to ₹32.51 from ₹36.43, but increased by 14.8% YoY from ₹28.31.

Operating Metrics

The total expenses for Mahindra & Mahindra Ltd in Q2FY26 were ₹41,192.50 crores, showing a slight decrease of 0.2% QoQ from ₹41,280.14 crores in Q1FY26. On a YoY basis, expenses have increased by 20.1% from ₹34,309.35 crores in Q2FY25. This indicates a controlled cost environment even as the company expands its revenue. The operating metrics for the quarter suggest a focus on maintaining expense efficiency while managing growing operational scales. The financial performance reflects the company's strategic operational alignment with its revenue and cost management initiatives.