M&M gains after Q1 PAT jumps 33% YoY to Rs 5,454 cr
During the quarter, the automotive business posted revenue of Rs 34,387 crore, up 32.29% YoY, while revenue from the farm equipment segment increased 14.77% YoY to Rs 12,501 crore. Revenue from the services business climbed 30.64% YoY to Rs 12,899 crore.
On standalone basis, the company?s net profit rose 6.82% to Rs 3,684.97 crore on 22.89% jump in revenue from operations to Rs 41,958.76 crore in Q1 FY27 over Q1 FY26.
Total vehicles sold 304,421 units in Q1 FY27, up 23.21% compared with 247,249 units sold in the year?ago quarter. Total tractor sold 158,041 units in Q1 FY27, up 17.86% YoY.
Anish Shah, Group CEO & managing director, M&M, said, We are delighted to report a strong start to F27, despite a quarter marked by macro headwinds. The strength of our diversified portfolio coupled with proactive actions to navigate through this challenging environment has enabled us to deliver strong results. Our Auto and Farm businesses continued to strengthen their leadership positions, despite this dynamic environment. TechM and MMFSL have made notable progress on their strategic priorities while our Growth Gems accelerated their growth momentum.?
Rajesh Jejurikar, executive director & CEO (Auto and Farm Sector), M&M, said, ?Auto and Tractor business demonstrated strong resilience in Q1 F27. We have achieved a QoQ increase of 50 bps in SUV revenue market share and 150 bps in LCV (< 3.5T) volume market share. XEV 9S emerged as highest selling EV in India by Volume. Our Tractors business gained 280 bps QoQ to reach 44.9% market share in Q1 F27. Auto business PBIT Margin excluding eSUV contract manufacturing is 8.3% and our Core Tractor PBIT margin is 19.2% despite commodity inflation.?
Amarjyoti Barua, group chief financial officer, M&M, said, ?We are pleased to report resilient performance across our businesses in Q1 F27 recording a PAT growth of 34%. Our supply chain teams have executed remarkably well to navigate through a very uneven environment, marked by significant commodity inflation. We remain committed to our path of value creation while maintaining a strong balance sheet.?
Meanwhile, the board approved the scheme of merger by absorption of Mahindra Investment Company (Mauritius), a wholly owned subsidiary, into Mahindra & Mahindra.
Mahindra & Mahindra (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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