Mahindra Mahindra Ltd — Q4FY26 earnings call summary

Filed 08 May 2026 · Official transcript

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