M&M Q1 FY27 analyst meet transcript: PAT up 34 percent, ROE at 23 percent

M&M posted Q1 FY27 consolidated PAT up 34 percent at ROE of 23 percent. SUV volumes grew 15 percent, EV penetration hit 12 percent. Auto profits rose 21 percent despite 400 to 500 basis points commodity pressure. Farm profits up 15 percent. Mahindra Finance profits jumped 78 percent, Tech Mahindra up 28 percent. Growth Gems profits tripled. Aerostructures wins 1.2 billion dollars cumulative, half in last year. Management guided auto margins to improve from here and Tech Mahindra EBIT margin to 15 percent by end of FY27, but flagged farm margin pressure from steel and rubber cost hikes.