Transcript of Q4 FY26 Earnings Call is enclosed

AI summary - Q4 FY26 PAT up 42%, FY26 PAT up 35%, driven by Auto +33% and Farm +13% profit growth - Auto volume +19%, margin +80 bps; Farm volume +24%, margin +150 bps; EV penetration reached 9.6%-10% - Mahindra Finance PAT +60% excluding prior provision release; GS3 at 3.41% - Growth Gems profit +50% YoY; TechM +14% YoY; aerospace orders near $1bn - FY27 outlook: Tractor growth ~5%, SUV mid-to-high teens, LCV high single digits; EV margin PBIT positive - AI projects delivering revenue impact: Auto product development time cut 10%, Finance disbursements +₹10,000 Cr - Capacity expansions: Auto ICE to 60.8k units, EV to 22k units by FY28 start; Nagpur plant on track for 2028 - Long-term growth targets: Auto revenue 8x, Farm 3x, TechM 1.5-2x, Finance AUM 5x over 5 years - ROE at 20%, EPS CAGR 57% over 5 years; dividend increased 30% in line with profit growth