Mahindra & Mahindra Ltd Quarterly Results: Standalone & Consolidated Reports

Quarterly Results

Results Snapshot

YoYQoQ

Figures in Cr

Consolidate Quarterly Results

Mar'26

Dec'25

Sep'25

Jun'25

Mar'25

Dec'24

Sep'24

Net Sales

54,981.91

52,099.75

46,105.67

45,529.19

42,599.31

41,470.05

37,923.74

Other Operating Income

0.00

Total Operating income

54,981.91

52,099.75

46,105.67

45,529.19

42,599.31

41,470.05

37,923.74

Raw Material Cost

31,139.66

27,816.19

27,886.65

26,710.64

25,172.37

21,699.80

21,431.98

Purchase of Finished goods

2,336.42

2,222.63

2,044.50

2,066.90

1,855.77

2,019.72

1,945.34

(Increase) / Decrease In Stocks

855.32

2,107.78

-1,821.67

-442.64

-1,258.54

1,409.60

-694.91

Employee Cost

3,238.23

3,335.88

3,111.99

3,044.52

2,909.60

2,882.77

2,655.22

Power Cost

0.00

Manufacturing Expenses

0.00

Selling and Distribution Expenses

0.00

Other Expenses

7,695.84

6,510.73

5,955.11

5,921.97

6,009.17

5,227.43

5,452.71

Total Expenditure (Excl Depreciation)

45,265.47

41,993.21

37,176.58

37,301.39

34,688.37

33,239.32

30,790.34

Operating Profit (PBDIT) excl Other Income

9,716.44

10,106.54

8,929.09

8,227.80

7,910.94

8,230.73

7,133.40

Other Income

994.84

858.52

675.51

916.92

701.73

411.33

659.22

Operating Profit (PBDIT)

10,711.28

10,965.06

9,604.60

9,144.72

8,612.67

8,642.06

7,792.62

Interest

2,407.33

2,405.30

2,347.03

2,431.19

2,396.52

2,362.16

2,217.02

Exceptional Items

0.00

-292.94

0.00

Gross Profit (PBDT)

8,303.95

8,266.82

7,257.57

6,713.53

6,216.15

6,279.90

5,575.60

Depreciation

1,942.68

2,162.89

1,668.89

1,547.56

2,028.72

1,495.17

1,301.99

Profit Before Tax

6,914.10

6,568.62

6,057.93

5,644.11

4,626.80

5,091.99

4,739.96

Tax

1,654.19

1,547.15

2,094.18

1,267.53

1,084.95

1,467.51

1,378.90

Provisions and contingencies

0.00

Profit After Tax

4,707.08

4,556.78

3,494.50

3,898.44

3,102.48

3,317.22

2,894.71

Extraordinary Items

0.00

Prior Period Expenses

0.00

Other Adjustments

0.00

Net Profit

4,707.08

4,556.78

3,494.50

3,898.44

3,102.48

3,317.22

2,894.71

Share in Profit of Associates

552.83

464.69

469.25

478.14

439.37

307.26

466.35

Minority Interest

592.34

346.83

290.43

293.26

246.68

443.90

190.34

Other related items

0.00

Consolidated Net Profit

4,667.57

4,674.64

3,673.32

4,083.32

3,295.17

3,180.58

3,170.72

Equity Capital

558.78

558.64

558.42

558.25

558.15

557.99

557.74

Face Value

5.0

Reserves

0.00

Earnings per share (EPS)

41.77

41.84

32.89

36.57

29.52

28.5

28.42

Diluted Earnings per share

41.48

41.69

32.51

36.43

29.04

28.4

28.31

Operating Profit Margin (Excl OI)

17.7%

19.59%

19.46%

18.11%

18.58%

19.85%

18.93%

Gross Profit Margin

15.13%

16.03%

15.82%

14.78%

14.6%

15.15%

14.79%

PAT Margin

9.58%

9.74%

8.64%

9.63%

8.32%

8.74%

8.92%

Public Share Holdings (%)

0.0%

Pledged Promotor Holding (%)

0.0%

Quarterly Analysis Highlights - QoQ

Net Sales

QoQ Growth in quarter ended Mar 2026 is 5.53% vs 13.00% in Dec 2025

Consolidate Net Profit

QoQ Growth in quarter ended Mar 2026 is -0.15% vs 27.26% in Dec 2025

Operating Profit (PBDIT) excl Other Income

QoQ Growth in quarter ended Mar 2026 is -3.86% vs 13.19% in Dec 2025

Interest

QoQ Growth in quarter ended Mar 2026 is 0.08% vs 2.48% in Dec 2025

Operating Profit Margin (Excl OI)

QoQ Growth in quarter ended Mar 2026 has fallen from Dec 2025

Compare Quarterly Results Of M & M With

Select Peers

Figures in Cr

Consolidate Quarterly Results

Change(INR)

Change(%)

Net Sales

54,981.91

52,462.50

2,519.41

4.80%

Other Operating Income

0.00

Total Operating income

54,981.91

52,462.50

2,519.41

4.80%

Raw Material Cost

31,139.66

35,168.90

-4,029.24

-11.46%

Purchase of Finished goods

2,336.42

4,944.80

-2,608.38

-52.75%

(Increase) / Decrease In Stocks

855.32

-1,626.90

2,482.22

152.57%

Employee Cost

3,238.23

2,248.30

989.93

44.03%

Power Cost

0.00

Manufacturing Expenses

0.00

Selling and Distribution Expenses

0.00

Other Expenses

7,695.84

5,569.10

2,126.74

38.19%

Total Expenditure (Excl Depreciation)

45,265.47

46,304.20

-1,038.73

-2.24%

Operating Profit (PBDIT) excl Other Income

9,716.44

6,158.30

3,558.14

57.78%

Other Income

994.84

483.90

510.94

105.59%

Operating Profit (PBDIT)

10,711.28

6,642.20

4,069.08

61.26%

Interest

2,407.33

73.00

2,334.33

3,197.71%

Exceptional Items

0.00

Gross Profit (PBDT)

8,303.95

6,569.20

1,734.75

26.41%

Depreciation

1,942.68

1,748.10

194.58

11.13%

Profit Before Tax

6,914.10

4,918.40

1,995.70

40.58%

Tax

1,654.19

1,259.40

394.79

31.35%

Provisions and contingencies

0.00

Profit After Tax

4,707.08

3,561.70

1,145.38

32.16%

Extraordinary Items

0.00

Prior Period Expenses

0.00

Other Adjustments

0.00

Net Profit

4,707.08

3,561.70

1,145.38

32.16%

Share in Profit of Associates

552.83

97.30

455.53

468.17%

Minority Interest

592.34

0.00

592.34

Other related items

0.00

Consolidated Net Profit

4,667.57

3,659.00

1,008.57

27.56%

Equity Capital

558.78

157.20

401.58

255.46%

Face Value

5.00

0.00

Reserves

0.00

Earnings per share (EPS)

41.77

116.38

-74.61

-64.11%

Diluted Earnings per share

41.48

116.38

-74.90

-64.36%

Operating Profit Margin (Excl OI)

17.70%

12.30%

0.00

5.40%

Gross Profit Margin

15.13%

13.12%

0.00

2.01%

PAT Margin

9.58%

7.31%

0.00

2.27%

Public Share Holdings (%)

0.00%

0.00

0.00%

Pledged Promotor Holding (%)

0.00%

0.00

0.00%

Quarterly - Net Sales

Net Sales 54,981.91 Cr

in Mar 2026

Figures in Cr

QoQ Growth in quarter ended Mar 2026 is 5.53% vs 13.00% in Dec 2025

YoY Growth in quarter ended Mar 2026 is 29.07% vs 20.16% in Mar 2025

Quarterly - Consolidate Net Profit

Consolidate Net Profit 4,667.57 Cr

in Mar 2026

Figures in Cr

QoQ Growth in quarter ended Mar 2026 is -0.15% vs 27.26% in Dec 2025

YoY Growth in quarter ended Mar 2026 is 41.65% vs 19.65% in Mar 2025

Quarterly - Operating Profit (PBDIT)

Operating Profit (PBDIT) 9,716.44 Cr

in Mar 2026

Figures in Cr

QoQ Growth in quarter ended Mar 2026 is -3.86% vs 13.19% in Dec 2025

YoY Growth in quarter ended Mar 2026 is 22.82% vs 19.79% in Mar 2025

Quarterly - Interest

Interest 2,407.33 Cr

in Mar 2026

Figures in Cr

QoQ Growth in quarter ended Mar 2026 is 0.08% vs 2.48% in Dec 2025

YoY Growth in quarter ended Mar 2026 is 0.45% vs 20.47% in Mar 2025

Quarterly - Operating Profit Margin (Excl OI)

Operating Profit Margin (Excl OI) 17.70%

in Mar 2026

Figures in %

QoQ Growth in quarter ended Mar 2026 has fallen from Dec 2025

YoY Growth in quarter ended Mar 2026 has fallen from Mar 2025