M&M gains after Q4 PAT jumps 53% YoY to Rs 3,737 cr
Total income increased by 25.29% year on year to Rs 40,244.81 crore in the quarter ended 31 March 2026.
Profit before tax was at Rs 4,881.24 crore in Q4 FY26, up 45.92% from Rs 3,345.02 crore posted in Q4 FY25.
EBITDA grew by 31% to Rs 5,509 crore in Q4 FY26, compared with Rs 4,219 crore recorded in the similar quarter last year.
Total vehicle sales grew 21% to 3,06,508 units from 2,53,028 units in the corresponding quarter last year. The tractor segment delivered a strong performance, with sales rising 36% YoY to 1,19,811 units from 88,018 units in Q4 FY26.
On a consolidated basis, the company's net profit jumped 41.64% to Rs 4,667.57 crore in Q4 FY26 as against Rs 3,295.17 crore reported in Q4 FY25. Total income increased by 29.27% year on year to Rs 55,976.75 crore in the quarter ended 31 March 2026.
Profit before tax was at Rs 6,914.10 crore in Q4 FY26, up 49.43% from Rs 4,626.80 crore posted in Q4 FY25.
Mahindra & Mahindra delivered solid results across multiple businesses in F26 on the back of strong growth, execution and capital allocation discipline. Auto and Farm maintain market leadership in key segments with 27% revenue growth and profits up 25%. Financial services AUM grew at 12%. TechM secured key new deal wins across verticals and saw EBIT improvement of 290 bps. Growth Gems demonstrated strong momentum, delivering PAT growth of 50%.
Dr. Anish Shah, Group CEO & Managing Director, said, ?FY26 has been a defining year marked by strong execution and breakthrough performance across several Group companies, despite geopolitical headwinds & several disruptions through the year. Auto & Farm further strengthened their leadership, supported by sustained customer demand for our differentiated products & operational discipline. TechM reported healthy traction in key new deal wins despite a challenging global environment. MMFSL pivoted to growth on the back of stable asset quality. Our Growth Gems have demonstrated significant momentum. The Group is well poised to accelerate in these uncertain times.?
Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), said, ?In Q4?FY26, the SUV Revenue share increased by 60 bps YoY, retaining the No 1 position. M&M is now the 5th largest exporter for PV + CV in F26. Tractors gained 90 bps in Q4 YoY, with a full year market share of 43.6% gaining 30 bps. Tractors achieved highest ever billing of 5 lakh+ in FY26. The market gains have been achieved by delivering strong margin performance.?
Amarjyoti Barua, Group Chief Financial Officer, said, ?Despite a challenging macro environment, the Group delivered strong performance in FY26, with PAT growth of over 30%, reflecting the underlying strength of our portfolio. Strong cash generation during the year has reinforced our balance sheet, providing flexibility to fund future growth initiatives in line with our strategic priorities. Reflecting this performance and our continued focus on long-term value creation, we are pleased to announce a dividend increase of 30%.?
The company has recommended a final dividend of Rs 33 (660%) per equity share of face value Rs 5 each for the financial year ended March 31, 2026.
M&M Group enjoys a leadership position in farm equipment, utility vehicles, information technology, and financial services in India. It is the world's largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.
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