Mahindra & Mahindra Limited has informed the Exchange about Transcript
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Mahindra & Mahindra released the transcript of its Q1 FY26 earnings call held on July 30, 2025. The Group posted consolidated revenue growth of 22% and PAT up 24% to ₹4,083 crore, with ROE crossing 20% for the first time at 20.6%. The Auto business delivered strong results with SUV volumes up 22% and revenue market share gaining 570 bps to 27.3%, while Auto standalone PBIT margin held at 10% and Auto PAT grew 32%. Farm Equipment saw tractor market share rise to a record 45.2% with PBIT margin of 19.8%, though Farm PAT grew only 7% due to a one-time Sampo impairment in Finland. Management reaffirmed SUV growth guidance of mid-to-high teens and highlighted a new platform reveal on August 15, 2025, with two new EV launches planned for early 2026. Born Electric delivered ₹111 crore end-to-end EBITDA, though no PLI has been accrued yet. The call noted steel inflation of 6% as a margin watchpoint, and that the company is comfortably covered on rare earth magnets.
The strong Q1 results and reaffirmed SUV growth guidance should reinforce positive investor sentiment, though margin pressure from steel inflation and EV mix dilution are watchpoints. The new platform reveal on August 15 and upcoming EV launches in early 2026 could be near-term catalysts for the stock.