Mahindra & Mahindra Ltd. released its independent Q3 FY26 results on Wednesday. over Rs 30,964 crore to Rs 38,942 crore, revenue increased by 26% over the previous year. Profit after tax rose 33% to Rs 3,931 crore, while EBITDA rose 19% to Rs 5,717 crore.
Without accounting for the effect of the labor code regulation change in Q3 FY26, the company reported a 54% increase in PAT to Rs 4,675 crore on a consolidated basis. The car segment’s consolidated revenue increased by 30% to Rs 30,370 crore, while the farm segment’s sales increased by 21% to Rs 11,501 crore.
Including sales by LMM and MEAL, total vehicle sales for the quarter were 3,02,238 units, up 23% from 2,45,499 units in the same period last year. The number of utility vehicles was 1.79 lakh. SUV revenue market share increased 90 basis points to 24.1% in the third quarter.
With a PBIT margin of 9.7%, the car industry’s standalone PBIT increased by 27% to Rs 2,684 crore. With eSUV contract manufacturing excluded, the margin increased by 90 basis points to 10.6%. The auto segment’s consolidated PAT increased 42% to Rs 1,993 crore.
With volumes of 1.50 lakh units, up 23%, the agriculture segment’s market share was 44% in Q3, down 20 basis points. With a PBIT margin of 20.5%, up 240 basis points, standalone PBIT increased 41% to Rs 2,061 crore.
Consolidated PAT rose 7% to Rs 1,044 crore, while consolidated sales jumped 21% to Rs 11,501 crore.
Mahindra Finance (MMFSL) reported a 12% increase in assets under management and a 97% increase in PAT, while keeping gross stage 3 assets below 4%. An EBIT margin of 13.1%, up 290 basis points, was announced by Tech Mahindra.
Mahindra Lifespaces reported residential pre-sales of Rs 572 crore, up 71%, and a five-fold increase in PAT. Room keys for Club Mahindra increased by 6%. After 11 quarters, Mahindra Logistics earned a profit with revenue of Rs 1,898 crore, up 19%.
An annualized return on equity of 20.1% was achieved. The company continued to lead the SUV market with a revenue market share of 24.1%, up 90 basis points; the LCV under 3.5T market with a share of 51.9 percent, up 10 basis points; the tractor market with 44%; and the electric three-wheeler market with 38.6%.
With gross stage 3 assets below 4%, MMFSL PAT increased by 97%. An EBIT margin of 13.1%, up 290 basis points, was announced by Tech Mahindra. After eleven quarters, Mahindra Logistics generated a profit, and Mahindra Lifespaces reported a five-fold increase in PAT.
We are delighted to report solid operating performance across the group in Q3’F26, reflecting our strong focus on growth coupled with disciplined execution, stated Dr. Anish Shah, the group’s MD and CEO, in response to the performance.
Also Read: New Government Rules Say Vande Mataram Must Be Sung at Official Events
Auto and farm businesses delivered strong performance in Q3’FY26, stated Rajesh Jejurikar, Executive Director and CEO (Auto and Farm Sector). Our SUV revenue share has increased by 90 basis points year over year. Our Q3 consolidated results reflect the strength and depth of our diversified portfolio, stated Group CFO Amarjyoti Barua.
Following the Q3 FY26 results, Mahindra & Mahindra (M&M) shares increased 1.54 percent to trade at Rs 3,731.90.
