Mahindra Boosts Quarter 1 Profits by 24%, Achieves 27.3% Dominance in SUV Market Share
Mahindra & Mahindra Strengthens Position in SUV Market
Mahindra & Mahindra Ltd (M&M) has reported a strong performance in the first quarter of the financial year 2026 (FY26). The automotive giant is expected to further solidify its dominance in the SUV market with upcoming launches.
According to the latest reports, M&M sold over 2.47 lakh units of vehicles in Q1 FY26, marking a 17% increase from the same period last fiscal year. The utility vehicle (UV) segment alone accounted for 1.52 lakh units, a significant contribution to the total sales.
M&M's SUV market share increased to 27.3% in Q1 FY26, a 570 basis points year-on-year growth. This makes M&M the No. 1 SUV maker in India. The company's focus on SUVs has paid off, with the segment providing consistent bottom-line support.
Some of the upcoming launches from M&M will be electric variants from its Born Electric platform. This move aligns with the company's commitment to sustainable and eco-friendly practices.
In addition to its automotive success, M&M's farm and services segments have also contributed to the company's overall performance. The farm equipment sector saw a 10% increase in volumes to nearly 1.33 lakh tractors, with Tractor PBIT margins rising to 19.8%.
The company's financial arm, Mahindra Finance (MMFSL), also saw growth, with assets under management increasing by 15%.
However, M&M faced stiff competition in Q1 FY26. Tata Motors and Maruti Suzuki outperformed M&M in terms of total revenue, consolidated profit before tax, and SUV market share. Maruti remains India's largest automaker by volume. Tata Motors dominates in overall volume due to its strong commercial vehicle (CV) and electric vehicle (EV) business.
Despite the competition, M&M has positioned itself as a profitability engine, poised to challenge rivals with a sharper focus and broader diversification. Dr. Anish Shah, Group CEO & MD of M&M, emphasized the group's strategic focus on operational excellence and shareholder value creation.
In the tech sector, Tech Mahindra, the group's IT arm, improved EBIT margins by 260 bps to 11.1%, with PAT up 34%.
M&M reported a 24% year-on-year increase in consolidated profit after tax (PAT) to ₹4,083 crore for Q1 FY26. The auto business, excluding electric SUV contract manufacturing, posted a standalone PBIT margin of 10%, up 50 bps. Standalone PBIT for the auto segment rose 24% to ₹2,221 crore.
As M&M continues to innovate and expand its offerings, it is clear that the company is committed to maintaining its position as a leader in the Indian automotive market.
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