Mahindra & Mahindra reported strong Q3 FY26 results with 54% profit growth and 26% revenue increase. Auto, farm, and services businesses drove performance, with SUVs, financial services, and logistics delivering standout gains, strengthening the group’s diversified portfolio.
Mahindra Delivers Robust Q3 Results
New Delhi: Mahindra & Mahindra (M&M) has reported an impressive financial performance for the third quarter of FY26, reflecting strong growth across its automotive, farm, and services businesses.
For the quarter ending December 31, 2025, the company recorded a consolidated profit after tax (PAT) of ₹4,675 crore, marking a 54% increase compared to the previous year (excluding regulatory impacts). Consolidated revenue stood at ₹52,100 crore, registering a robust 26% year-on-year growth .
The automotive segment continued to perform strongly, with total quarterly vehicle sales reaching 3.02 lakh units, up 23% year-on-year . Mahindra strengthened its leadership in the SUV segment, achieving a revenue market share of 24.1%, an improvement of 90 basis points. The company also retained its dominant position in light commercial vehicles (LCVs under 3.5T), with a 51.9% market share.
Standalone automotive profit before interest and tax (PBIT) rose significantly, supported by improved margins. New product launches, including electric and premium SUV models, received strong market response, contributing to revenue growth and higher profitability.
Mahindra’s farm equipment division recorded 23% growth in tractor volumes, reaching nearly 1.5 lakh units during the quarter . While its overall market share stood at 44%, slightly lower year-on-year, the segment delivered strong profitability with margin expansion. Revenue from the farm business increased 21%, demonstrating sustained rural demand and operational efficiency.
The services businesses delivered remarkable performance. Mahindra Finance posted a 97% jump in PAT while maintaining strong asset quality . Tech Mahindra improved its EBIT margin to 13.1%, reflecting better deal wins and operational traction.
Two of Mahindra’s “Growth Gems” stood out during the quarter. Mahindra Logistics turned profitable after 11 quarters, and Mahindra Lifespaces reported a five-fold increase in profit, supported by strong residential pre-sales growth . Overall services revenue rose 21%, with consolidated services PAT doubling year-on-year.
Company leadership highlighted disciplined execution, product acceptance, and operational excellence as key drivers behind the results. The diversified portfolio across auto, farm, finance, IT services, and real estate has strengthened the group’s balance sheet and improved return on equity to 20.1% (annualized) .
Mahindra’s Q3 FY26 performance underscores its strong market positioning, diversified growth strategy, and continued focus on profitability, placing the company on solid footing for the remainder of the fiscal year.
